Bloomberg Surveillance: Early Edition, live from London and New York. Francine Lacqua, Anna Edwards, Matt Miller, and Kailey Leinz deliver the latest news and analysis on the markets with leaders in global finance and economics. Patrick Armstrong, CIO at Plurimi, says that if companies are buying back shares, it's a very powerful tailwind for equity investors. Beata Manthey, Head of European Equity Strategy at Citi Bank, says spreads are not yet at alarming levels.