Stephanie you have been watching a moment of silence in brussels as the city begins three days of mourning. The attacks yesterday have so far left a total of 31 people dead and 230 injured. For the latest on the investigation, we are now joined by bloombergs ryan from brussels. Yan, give us the latest. Ryan well, were learning an wful lot from the people who started the attack. Police apprehend adamant that is the mastermind of the attack. He is a 24yearold of an individual. Going into today, he was in syria in early 2013. And then a very minimum, he was an associate of one of the participants in the terrorist attacks. So as we look at the belgian and french Prime Ministers there at the mourning ceremony for the People Killed here in brussels, you can bet that they will be also talking about how they can better coordinate to make sure there are no more terrorist attacks. Stephanie while clearly today is a day of mourning in the city of brussels and across europe, as far as business goes in the city, terminals being open, markets being open, people being back to work. Whats the sentiment . Ryan yeah, you know, i mean, people are going back to work, but not here. Im right outside of the European Commission building. Theyre closed. About 300 meters is the subway station. Its closed. It is the site of the second attack. Thats where the majority of the people were killed. The road is still closed. And there is a Robust Police presence here. So theres not much going on in the center of brussels. Having said that, its a big city. And people are going about their business as usual in many other places. Its just that in very diminished numbers because clearly, a lot of people have chosen to stay home today. Jonathan ryan, just in terms of the last 24 hours, a lot has been said about the mistake being made. The fact of the metro wasnt shut quick enough. Whats being said about that . Ryan yeah. Theres a lot of soul searching going on here. Just as recently as friday last friday, i was here for the e. U. Leaders meeting and i was saying to myself wow, the security is quite lacksed and you could appreciate that because theyve never had a terrorist attack of this scale in this city. There were concerns about individuals here having links to terrorism, but always committing their acts outside of belgium. Theres going to be a lot of hard decisions to be made now about airport security, about security at government buildings and just in general, about the level of personal freedom that people can expect to have Going Forward. Stephanie and these tough decisions that need to be made, who by . Were talking about many, many countries across europe with different motivations and different governments. Ryan well, the issue is they need to make a lot of the decisions collectively, right . They need to start sharing intelligence more effectively. They need to start cooperating in terms of criminal investigations. So actually, they are going to gather. The interior ministers on thursday and friday. And they would all say that up till now, their communication has been woeful. One of the things that the Prime Minister will be telling the belgian Prime Minister is when are you going to extradite the main participant in the paris attacks that you apprehended on friday . They still have to work out things like tradition not to mention border checks. This is all the passportfree travel zone. I can go as i did yesterday from france into belgium without any check at the border. I didnt even know that i crossed the border, in fact. There are a lot of e. U. Leaders saying we cant be doing that with terrorists running around the countries. Jonathan thank you, ryan. Our thoughts with the people of brussels and the people affected by the tragic events of yesterday. A quick check on the markets now. European markets are open. Were seeing gains across the board. The dbacks back down. Dow futures lower this morning. The dow snapped that winning streak. Down by five points pretty much dead flat on the s p 500. Our top corporate story. Most red story, Credit Suisse trading high. A strategy update. Another 2,000 jobs to go. Another 1. 7 swiss francs to be cut. And thats a big story for us this morning. The pound weaker for another day. Three months implied volatility. Big pop as we are three months to the day away from that referendum for the u. K. And the future in the European Union. And the u. S. 10 year at 1. 93 down. W. T. I. Trending 31 flat. Stephanie i am amazed by valiant. Valiant had a big comeback yesterday. Is it that people truly believe in this company or do you look at some of these prices and simply say so cheap, time for a trade . Were going to dig in a lot of this trade as the morning unfolds. Jonathan the banks forecast another loss in the First Quarter. Plans to cut an additional 2,000 jobs. And an interview with the lacquer,with fran seen credit sweetest crow. Its cost us ou but its protect us a lot. If we had not the risk the way weve done since we found out given the faith of the First Quarter, the numbers will be much worse. Jonathan francine, brilliant interview. Hes getting a lot of pushback this morning. Investors might be happy but the stock has been pounded. A strategy update five months since the last one. Gives the why. Francine he thought he needed to accelerate the restructuring. So he unveils hes been in the job since june of last year. And then he unveiled a new strategy in october including downsizing the Global Markets which is the division that houses the security trading. Now he saw the Fourth Quarter results werent as expected. And that is crucial. He thought that he didnt like he is further cutting that it and that means more job cults, and just doing what he promised in october, not quicker but more of it. The question many will be asking in terms of job cuts. How secure is his job and how long the board will allow him to sit in a seat and play out when you talk about those cuts. It was in october when he talked about pulling back in the securities distinction. He now sits for the first time then before announcing it internally. In terms of people he can even keep in their seats, whats the morale got to be like there . Francine well, its a good point. He hasnt been charged for 12 onths. A lot of shareholders putting him under pressure because hear testing him. Is is someone that had led prudential. The shares gained a lot. They doubled in six years. A lot of people on the market maybe trying to test his resolve and pushing him to cut the Investment Bank more. For now, his future seems ok. But i guess well have to see if it becomes more uncertain depending on the share prices. Jonathan he ran prudential and insurer. When you look at barclays, john went to look for an Investment Banker because he wanted to restructure an Investment Bank. A lot of peel stell talking about whether hes the right man for this job considering it took him so long to find out for this position. When you sit across from him, do you still sense hes trying to justify hes the right man for the role even though with several months into his tenure . He clearly inmated 9 that theres a sbin mated that he did not know because people did not tell him. He is confident that he has the regulation or the metrics in place to ensure that does not happen again. Youre right. He was the criticize because he didnt but think of barclays. If you come from the investment world like bill winters who is now head of the standard you cant if you dont come from the Investment Bank, then shareholders or markets tell you you cant run the Investment Bank. So it seems like its a loselose situation no matter where you sit. Investment banks will not. Sofia another piece of this fantastic exclusive interview. You had this about dividends and whether theyre going to be keeping it. Even though we said we have a strict dividend, we said we would keep it in place and then remove it. We will get to a position from 17 where we can really generate capital and cash. Sofia cutting, cutting, cutting. Where are they going to make money . Francine well, this is a trategy. And he wants to have the Investment Banking and support those wealthy asians. This is a tragedy that weve seen in other banks. Remember, this is what u. B. S. Did about three to four years ago, narrowing down the idea and focusing on Wealth Management. He thinks that he has a Winning Strategy. Its a onestop shop for billionaires that may not have a lot of cash flow. So they use the Investment Bank to make acquisitions and i also gives them money to manage. Jonathan this fascinating moment on the call when he said that he asked to take a 40 cut on his bonus out of solidarity with the rest of the firm because about a third of the firm didnt get any bonus at all. Looking forward for this company not just for the payouts for investers and for the star. When you ask him is that it . Can we expect more cuts to come down the road . What did he say to you . Francine he said he hopes this is it. He says im an honest person. So i cannot give you 100 assurance that this is it. He seems to me like someone whos really trying his best. Hes looking at the banks. Hes looking at it very closely. On the issue of morale that stephanie was alluding to, this is a man that wants to make sure morale is high which he says its right for me to take a bonus doubt show the people that im in it with them. Whether we will see a tenant leaving is something that we need to watch out for but hes on fighting spirit and he thinks hes relieved that he could come out with this Restructuring Plan that he said he has not seen when he gave us his strategy updates. Stephanie the question will be out there. Is his best good enough . Thank you to our own Francine Laqua with her interview with the c. E. O. Next, london mayor forest johnson weighs. Shares of nike are falling in premarket trading. Theres concern about growth in the Worlds Largest making of sporting goods. Nike missed estimates. Competition from under armour is putting more pressure on nike in the u. S. Hermes beat earnings. They plan to raise prices about 3. 5 this year in europe to make up for higher production costs. Standard charter is demanding more loans in the diamond business. The british bank lent 2 billion to diamond processors. Standard charter wants clients to get payment insurance. Diamond cutters have been hurt by slowing demand in china. Jonathan thank you very much, david. Here are the top story in the city of london. The london mayor folk the house of commons treasury select committee. He stated that the city of london would flourish outside the European Union and would not lose its position as a financial hub. What struck me in private conversation as often have with finely bankers is how balanced they seem to be. And most of them more candidly say they dont believe it will do any damage to londons position as the worlds leading financial center. Jonathan guy, the argument of the last 24 hours has been dominated by whats happening with immigration, with refugees but the argument that Boris Johnson is trying to push is the economic one. Where are we in that debate and is winning . Uy he said where we stand the economic. He said that the pound would be strong and robust outside the e. U. And he talked about the fact that the e. U. Could do a very rapid deal with the yufmente so he is making a political argument and an economic argument. The economic argument is you really dont need to worry about it. But hes really focusing on the politics, john. Stephanie why is it that you dont need to worry about it . In the past, hes made the economic argument. Is it not that hes turning away from that . Guy what hes saying is that it probably doesnt make much difference either way economically but it will make a difference politically. And i think if you look at some of the survey thats being done, some of them suggests youre going to see a huge crater that once was the u. K. Economy. And another is suggesting unbalanced. The point that boris is making and as a result of which will end up the economic structures that currently is still remaining butt. But the political control is where youll see a change on that. Jonathan love the value on the strong pound. Guy let me turn you to the bloomberg and show you whats going on here. It is absolutely fascinating, john. This is the story over the last couple of days. You see this decline. This is the cable rate. As you said earlier, were now in the threemonth range. So this is cable three month volatility. As you can see, now a massive spike to the upside. The market doesnt really understand where cable is going to go. So the market is going out there and buying protection the other chart, this is really fascinating as well. So this is the threemonth risk reversal. This is the skew between the out of the money position on the upside and on the downside. And its quite a good gauge of where directionally the market thinks that sterling will go. As you can see, that has absolutely fallen off a cliff. So the market really pricing in over the last couple of days and expectation over the next few months that we will see sterling very much coming under pressure. Jonathan guy johnson getting a little more expensive. Thank you for joining us. Next up, well look at e. U. Leaders. Their next step secures their country following their countrys attacks. Stephanie welcome back. You are watching bloomberg go according to belgian state broadcaster, the main suspect in the brussels attacks has been caught. Later this week, e. U. Interior ministers are expected to meet in response to the attacks. Joining us now from washington is former c. I. A. Director james woolsey. There are conflicting reports but some say all three suspects have been caught. If thats the case, is this ver . James i thought two others have blown themselves up but if all three were caught, i dont think we should take much heart from this. Were going to be having to deal with terrorism for a long time. And at transportation nodes like train stations and airports, its going to be very difficult. We will fail as long as we are only playing defense in europe and the United States of place where is there are lots of people. Stephanie apologies for clarification. What i meant was one potentially caught and others dead. If all three are no longer in the mix, how much of a threat does this continue to be . James got it. Well, isis is the threat and isis controls a chunk of syria and iraq and is still recruiting in the communities, such as the suburb in brussels. From young muslim men who have become radicalized. So one group of three or even nine or 12 or wherever many terrorists caught is not going to do the job. When you go enter a hockey match against a team that is really good, you dont win just by having your goalie catch stop every shot. You have to play offense on the ice as well as defense. And were not doing that very well. Jonathan in your capacity as the former c. I. A. Director, how difficult was that role versus what the europeans face where were talking about 28 countries plus turkey on the border . How dills that job of getting the intelligence that they so desperately need for the European Union . James well back 20 years ago when i had the job, it was sunny days. We had won the cold war and everybody was relaxing and telling me we didnt need a c. I. A. Anymore and we could save all the money and so forth and so forth. So back in those days, things were very different than they are now. I would say today europe has greater vulnerability simply because its closer and its easier to get from syria, lets say to brussels or to france than it is to get across the ocean. But we still have attacks, such as the one in san bernardino, california, here, a few weeks ago and we will. We may have slightly fewer than europe, but we needed the neither the europeans for the americans are going to win this just by building up their defenses at airports and transportation nodes and other place where is there are large numbers of people. Stephanie and we certainly do need a c. I. A. Thank you so much for joining us. Former c. I. A. Director james woolsey. Thank you. Coming up, portugal rejected its first antiausterity budget last month. Well be speaking to the minister of the economy. Jonathan hello. Good day to you all. Lets get a check in on markets on futures and on european equities as well. S p 500 up about a point this morning. Dow futures up by one. Tse, about up by 1 . Switch up the board just very quickly. Credit suisse, restrategy. The stocks 1. 7 . Cable weakness, 14190. Yields coming in on treasury at 1. 94 . And oil down by 1 . 41 a barrel. Tune into bloomberg a little bit later. N exclusive interview with jim bullard. Tom key is with us. Tom hes really a centrist but theres also a nuance and always a twist. Jonathan and a hawkish tilt. Tom yeah, or he can tilt the other way too. Jonathan thats coming up. Do not miss on Bloomberg Television. First, heres david. David main suspect in the terrorist attacks. One report says hes been captured. The other men were brothers who were suicide bombers but another report says the man arrested by police is not the main suspect. A taxi driver led police to their home. Authorities say Chemical Products and an Islamic State flag. It was a big night for donald trump and Hillary Clinton. Both took another step closer to winning their partys nomination for president. Bernie sanders won democratic caucuses in utah and idaho. Trump won all 58 delegates in arizonas republican primary. Ted cruz was the big winner in utah. Well hear from trump today in an interview at 5 00 eastern time. And president obama is now in argentina earlier today after a flight from cuba. Its a first visit by a u. S. President there. He will meet with argentine president who was sworn in december. Mr. Obama wants to show them the u. S. And cuba are in better terms. Stephanie tom keene is here because it is time for the morning must read. Oure bringing to roger