This as china reported no deaths for the first time and it is the lockdown in wuhan. We are standing by for the daily briefing. President trump today had harsh words for the world health organization. As u. K. Prime minister Boris Johnson remains in stable condition in the icu at a british hospital. , want to bring in james camp managing director of Strategic Income that eagle asset management. You have been watching the ups and downs. I am curious if you think that investors will be going up and down as the daily death toll is going up and down, and if that is really the indicator of how things are going . James there is a lack of clarity in what the endgame the. We watch cross asset volatility. A lot of the Asset Classes spiked in mid arch. When you see some better news, you, that elevated historic high elevated. Normal every time we get a fit and start from the headlines, that number just moves around. To me, the risk numbers have yet to be investable because we dont know the ultimate path of where this thing goes. It certainly feels like there is nowhere tide. Are there any sectors you are looking at for hope . James the analogs to the financial crisis may be relevant here. You have to deal with the debt markets first. Volatility, that even existed in the treasury market until the fed stepped in. Now, the fed has created these facilities to buy corporate and municipal data. You are seeing the new issue market wide open. Those deals are getting done, yield spreads are tightening. The functionality of at least the debt side of the equation is up and running. That is not sufficient to make the equity markets better but it is necessary. What is your view on big tech right now given that supply chains are stretched, yet there has been this huge demand for more computers, phones, laptops, yet you are dealing with financially stressed computer financially stressed consumers and businesses . James on the consumer side, on the Balance Sheet side, you are going to see less leverage. The tech sector is the one shining star. Changes probably are going to be upon us at least until there is a vaccination idea that brings people intimately close together in public space. The close side of the Equity Equation looks more valuable than what you would call the equity side. Haverun companies that reinvested in themselves through capex and rnd, those are probably going to be the winners as we move through this period. Emily how much of an impact do you think this stimulus bill will have . James i would not call it stimulus. I would call it life support. Market hat the debt these measures, they are. Equisite, necessary turnquickly, to basically the asset price collapse off. I am concerned about the getting us of it, checks to people and support to employers. We have got to get that more seamless and do it very clear. Emily james camp, eagle asset management, appreciate you sharing your thoughts. Picking of life support, we will talk about whether Tech Companies can make enough equipment fast enough to help save lives. Speaking with an expert from m. I. T. , next. Will take you to that Daily White House briefing. That is expected to start momentarily. This is bloomberg. Emily the white house has enlisted the help of supercomputers around the world to speed up research on the coronavirus for treatment, a vaccine, as well as location tracking. I spoke with the executive director at the texas advanced computing center, home to the frontera computer. Take a listen to part of that operate that conversation. Dan we have about 25 different products now that we are supporting in three different primaries. They have come through this mechanism that the government has put together to sort of expedite getting time on our supercomputers. The three categories are things around people and social moderate social modeling. Things tracking social distancing, how people interact. The forecasts of how many hospital beds will be required. At this sort of other extreme, we are working at the molecular and atomic level to understand the structure of the virus. Diego working with uc san among other Research Teams who are trying to model the structure, the spike. Various kind of screening for drugs. Looking at the actual rna strands in the virus, the dna of strands. Common emily what is it that a supercomputer is capable of that a regular computer cant do . Is it things that you can do this so much faster . Dan damentally, it is fundamentally, it is size and speed. Capability, and can solve a problem that would not fit in a regular computer. You need a massive amount of memory. Your regular computer could not do it. The epidemiology models, we are running tens of thousands of them at once, so it is a matter of the volume. Most of these things are on one supercomputer. I would say the relationship is not between the supercomputers. It is between the researchers and the Life Sciences doing some of this work and people in computation. People we have worked with for years who know how we operate, having those preexisting relationships have helped us get going. Is even having the benefit of these supercomputers not enough to get a handle on where this is spreading and how fast . Dan in the end, i think theuting is not going to be bottleneck. Many chemical compounds we are looking to try. Ultimately, vaccines for instance, tend to the 60th possible chemical compounds in the universe, here is a large set. It still will have to go through the Clinical Trials and that is where a lot of time will be taken. Emily quantum computing, even , to fight covid19. How does that compare in terms of what that can deliver and how quickly . Dan quantum computing is not something we are using inhouse yet. It is something we simulate a fair amount. It is a different model of computing and they do not solve the same types of problems. There are certain times of optimization problems where they are remarkably fast, orders of magnitude faster than a conventional supercomputer. There are pieces of the story where we can plugin quantum devices and get some acceleration. The protein docking. Theyve high hopes that might be useful in using some ai methods to accelerate drug screening. Emily you are running simulations and modeling all day. What are you finding most surprising . Is there one thing in particular that the results show . Keepi am trying to millions of these simulations running every day for millions of people and i have not dug deep into the data. Some of the researchers we work with have come up with some interesting structural insights, particularly in how these spikes form. I think it will be awfully helpful in coming up with different therapeutics down the line. Is makingntime, apple face shields. One of their suppliers working on ventilators. The whole supply chain being put to the test. Even so, Governor Andrew Cuomo of new york says they still will not be getting there fast enough. Their timeframe, cuomo says, frankly does not work for our immediate apex. You cannot make ventilators that fast because there are parts that have to come from other countries. M. I. T. , this is your area of study, the area of expertise. Why cant tesla, apple, many of these carmakers, why cant they make these ventilators fast enough . Are you there . Yes, can you hear me . Emily yes, i can hear you. You are on the air. My first question to you is, we have all of these companies, carmakers, tesla, even apple suppliers, why cant they make ventilators fast enough if this is the only thing theyre working on right now . Can you hear me now . Emily yes, i can hear you. Can you hear me. Yes. Emily we are going to take a quick break. In order to make oh emily ok, go on. Some like we are having technical difficulties. We will take a quick break. We are going to take you to that White House Press conference. President trump has just tweeted about that. About 15 minutes from now. We will take you there momentarily. We will be right back with more after this quick break. We are getting some breaking news out of washington that President Trump and his team is working on plans to reopen the economy depending on testing and how many people they can test. However, the plans would depend on testing more americans than has been possible up to this point. The white house supposedly in the early stages of this plan. We hope to hear something from the president when he speaks just about 10 minutes from now. He tweeted moments ago that the press conference would be starting at 5 30 eastern time. I want to get to some of the expertise coming out of john hopkins university. Earlier today on bloomberg television, an associate presser associate professor spoke to us about the economic strain being caused by the coronavirus, especially in emerging markets. Emerging markets have been hit very hard by the initial phase of the crisis. We have seen massive outflow of capital. Repatriating in the United States. Up epidemic is just picking emerging markets. As we know, it lasts for about four months. Emerging markets are much less capable of absorbing the Health Dimension of the crisis. Extremel be put under strain and we will see unprecedented decline in Economic Activity and possibly widespread financial damages. Ura worldor, authority in real estate. It is something that is out there that we cannot necessarily touch. What is the leverage of the system, are they exposed as other Asset Classes were exposed in 1998 . Alessandro the global levels of real estate is not as diffuse and deep as in the United States. Typically, in emergingmarket real estate, purchases take place on a cash basis. From that perspective, leverage is in the real estate. However, Research Shows the impact of individual communities of pandemics can be extremely longlasting. So, certain segments of megacities in emerging markets might be particularly damaged by the Health Dimension of the crisis itself. Can i talk about what is happening here in europe . Italy finds itself in a very difficult situation. It is an economy already burdened with a huge amount of debt. It is likely to take on significantly more. The is your perception of economic trajectory of italy and whether debt is sustainable . Alessandro italy was already experiencing difficulty to recover from the Global Financial crisis. Effectively, it never recovered from the Global Financial crisis, and growth was permanently hit by that shock. Catastrophes, extremely damaging. Health assessments needed from ideallypean community, from the rest of the international community. There is a lot of talk about options for financial rescue. I think it is a time to consider emergency help. From International Financial institutions and chiefly the International Monetary fund, which helped other european economies during the financial crisis. Emily john hopkins professor alessandro rebucci. Of course, mike bloomberg, the founder of bloomberg lp, is a supporter of the Johns HopkinsBloomberg School of Public Health. I want to talk about the worker agitations we have been covering across the country and around the world. Instacart shoppers as well. Josh idles in, who covers labor for bloomberg news, has been valiantly covering the stories of these folks across the country. Josh joins us on the phone. We have been covering this day by day. Whatt to get a picture of things look like right now. Better safety, better pay, better benefits, insurance. Where do things stand in terms of where companies are listening . That there are signs worker rebellion in sectors like health care, food, logistics could snowball. More companies have more workers take part in walkouts or protests. Companies in general are not thingsthey are doing because they go on strike. Companies like amazon and instacart have rolled out additional announcements about things they are doing to keep their workers safe. Amazon has said there are more than 100 processes they have changed to try to keep people safe. We have seen at amazon, the walkout spread from new york to michigan. Discontentn other and collective action in the next 24 hours. We have seen nurses in michigan staging sit in. Illinois, manufacturing workers on strike. We have seen the start of a strike. This question of, as the days go on, will this be getting much bigger and if people are retaliated against or appear to retaliated against coverede of course the firing of chris smalls in long island by amazon. He says that was retaliation. Amazon said it was about safety protocols. I have been looking at stories online about worker unrest. There are people out there saying, isnt there a line out the door . I wish companies were treating these People Better but tony a lot of people need jobs . Josh that is why this is in many ways the best and worst time to be going on strike. Leverage is that you do have millions of newly Unemployed People who are potential replacement workers. At the same time, many of these jobs are not easy to slot a new person into. These are not easy jobs. They are jobs that many people watching on bloomberg would not want to be going into work to do, and they have been rechristened as essential work. A public spotlight on the workers who let these Companies Stay open, and on the need for the workers, whether it is producing food or goods. Emily ok. , really appreciate you continuing to cover these stories. Coming up, we will take you into the online classroom. Just how are things going with homeschooling . We will get you to washington as that presser is scheduled to begin. This is bloomberg. Emily welcome back to bloomberg technology. The Trump Administration is working on plans to reopen the economy. This would depend on testing and the ability to test more americans than has been possible up to this point. We are standing by for the press conference to start at the white house. We will hopefully hear some more details on the potential plan from President Trump. I want to talk a little bit about how the Online School situation is going. The numbers are staggering. More than 55 Million Students have been affected by coronavirus related school closures. So, publicools or and private, closed across the country. Joining me is the ceo of video Communication Company called weve talked a little bit about how zoom has been an invaluable tool for a number of schools out there. Yet, youve got new york city now banning zoom in public schools. Talk to us a little bit about how this big experiment is actually going at home. What is working, whats not working . Thanks for having me on the show, emily. Our been amazing to see in user base, we have over 100 million users crafting business and education. Actually, it has been the teachers leading the charge. They are getting up to speed how to work from home in an effective way faster than anyone else. As we see countries and schools shutting down, we see the teachers among the first come online. In a matter of two weeks, they 40xing the tools. They are providing the lessons in many ways for the business way of doing videoconferencing. Some of the things we are seeing is that, first of all, Human Connection is what drives the ability for students to learn. But in many ways, for businesses to collaborate as well. So, these teachers are showing up with their faces, not just through emails, but through video. And the second thing they are doing is they are realizing that you cant sit in front of the computer for eight hours a day. While we are at work or in school, we could be with our colleagues rate hours a day but that is not possible when you are working from home. A lot of the times, they are prerecording lesson assignments. And then they are calling groups together for discussions. That is some of the most advanced way of remote collaboration we see in businesses, but the teachers get it immediately in just two weeks. The third part is our bread and butter, the Digital Communications part. Even though you are on a videoconference, you need to still have strong visuals to focus the conversation, to explain your ideas. Prezi videoaunched that this would become so pertinent to so many people so quickly. What you can do there essentially is to be a newscast person without having a studio set up. Anyone with an ordinary laptop and cam can add those videos into their videoconferences or record them onto video. You can imagine this is unleashing a lot of creativity for people. Emily my kids are doing this as well. I wonder should we as parents be worried about all this screen time even if a lot of it is now more interactive, online worksheets, productive, not just sort of passive viewing given that it is happening hours on end . Peter i think it is important to take breaks, and obviously, go away from the screen. But for all intents and purposes, sitting by a desk is not necessarily all that different. Having said that, of course, we should be mindful of how to have a good working day, even if we are now having to do that from home. So again, giving people flexi bility to be able to consume the lessons at their own pace, but then making sure you still have a community feel of getting together in shared meetings is also important. Think of, what do you these new Online Habits . I wonder how much of this lasts beyond quarantine. Do you see students and teachers integrating more online lessons into their day, for better or for worse . That as definitely see a strong possibility. Ideas are picking up now on how to get their work done over video. And, i think we are also recognizing that what we thought was a very effective way of going into the office and getting stuff done is not necessarily as productive as we always thought. So, there will be some parts of the work we do, whether we are teachers or just running companies, we will be doing some andhat prerecorded probably giving people lots more flexibility to join remotely. Emily how concerned are you about the security and privacy issues here . I feel like we all know someone or have been in a session that zoombombed. Some of these are very young people, Young Students seeing some of these obscene things pop up into their zoom windows. How concerned are you about that or is that something that the technologists can easily get a handle on once they are prepared . Peter yes, i think this is a real concern. We also have to remember the Bigger Picture here, that zoom has been adopted very quickly now for purposes it was perhaps never intended to do. At the same time, we see the zoom leadership reacting fast to these concerns. I think they are going to solve it and i think when you choose to set up your online collaboration environment, it is, of course, important for teachers and for leaders to choose secure options. Ly so, how do you think what is the reopening of School Look Like at the end of this . On the one hand, there was the concern of the return of the virus. There is a concern that perhaps now schools know how to do this, they can do it quickly for a shorter period of time. But, i wonder what a School Coming back in session actually looks like. It is really hard to even imagine at this point. Peter yeah. Look, i think theres a lot of uncertainty, but one of the things that i believe is that the future isnt decided already. Depending on how well we do in terms of coming together and really understanding this virus and how to best behave, that will really define the larger impact on, yeah, just how Smart Solutions we find. For us, that is really our focus. Orn we helped vaccine makers teachers or Public Health advisors to communicate their messages, then we believe we can come up with better solutions. So, i think it is really important that we keep focusing on getting the science part of this and making smart decisions with a deep understanding of whats going on. Avrai,all right, peter ceo of prezi. Thank you so much. Really appreciate your insight. Coming up, the inside story of instagram. Jealousy, promises, control. Details that you have never heard before from my colleague sarah frier is out with a new book right now. We will be speaking to sarah next. This is bloomberg. Emily facebook bought instagram in 2012 for over 700 million. Since then, Mark Zuckerberg and facebook have maintained a tight grip on what was then a burgeoning social networking service. Joining me now is my colleague sarah frier, author of a notebook called new book called no filter. I am so glad you gave me by events copy before it hit because im really enjoying it. You got a new excerpt out in Bloomberg Businessweek today detailing some of the, you know, early instances of perhaps disagreements between the instagram founders and Mark Zuckerberg. You talk about zuckerbergs jealousy. Tell us a little bit about how that came into play into the buying and the running of this service. Sarah so, instagram was always a strategy for zuckerberg to avoid the potential competition with the company. And so, once he brought them into the fold at facebook, one of the first things he did was ensure that if instagram was a allowed to grow, it would not detract from facebooks photo booking. That was the first time and was not going to be treated equally. For the first time, instagram was allowed to operate independently. Kevin on your show talked about how he considered Mark Zuckerberg more of a board member than a boss. But as instagram became more successful emily sarah, hang on a sec. We have to go to the president now. Hes at the podium. Lets listen in. Yorkers arep new tough and strong and brave. Andjerseyites are tough strong and brave and they are being hit very hard right now. For the next week, hopefully not much longer than that, it will start to go the other direction. Our country is being hit hard but some areas have done so incredibly well. We are so proud of them. They will beat this virus. We are going to beat it with the grit and the heart for which they are known, and for which our country is known. We appreciate everything that everybody is doing. For Prime MinisterBoris Johnson. He loves this country, he loves his country, but he loves the usa. He has always been very good to us, whenever we had difficulty, he was with us. We appreciate it. We pray for Prime MinisterBoris Johnson, going through a lot. As we intensify our military campaign against the virus, i think it must be brought up that we have to thank the American People for continuing to follow our guidelines on slowing the spread. An expression that more and more people are thinking about. Nobody ever heard about it months ago and now everybody is talking about slowing the spread, stopping the spread. Even during this painful week, we see glimmers of very strong help. This will be a very painful week. And next week, at least part of next week, but probably all of it. If one person dies, that is a painful week. We know that is unfortunately going to happen. This is a monster we are fighting. Ares are that our strategys totally working. Every american has a role to play in winning this war. We are going to be winning it powerfully and we will be prepared for the next one, should it happen, but hopefully it wont. Our massive airlift operation for critical supplies, called project air bridge, continued today as five massive planes, flights landed in the United States packed with personal protective equipment. And our nations heroic Health Care Workers will be the beneficiaries of that. 27 more flights are scheduled in the near future over the next several weeks. The army corps of engineers is constructing facilities that will support more than 15,000 hospital beds to treat patients in need. So they are building approximately 15,000. They just completed the big one in new york. They just completed and are in the process of continuing in chicago, and many other places. The army corps of engineers, we owe them a lot what they are able to do in such a short period of time. They built these massive facilities. 2000 beds in four days. So, that is really something really special. I know, i was in the construction industry. You dont see that happen very often. I want to remind governors and Emergency Managers that are sharing Realtime Data with us about equipment and their needs is very important. All of their supplies, hospital occupancy is critical. A lot of the occupancies are getting lower than anticipated and that is good. We sort of thought that was going to happen. We are getting along very well with the governors. This whole situation with respect to talking to us about equipment and equipment needs, giving us a little bit of lead time. So important for all the supplies. We are getting it to everybody, like they never thought possible. But well ensure we could rapidly deploy federal assets when and where they are needed, especially ventilators. We are actually getting ventilators back. The state of california was great. They sent some back which they dont need. And, Washington State likewise. We have some others coming back so i using them in areas we need them. We are pressing forward aggressively on the scientific frontier of the medical war. The companies i spoke to, the four leading, i call them the genius companies, they are doing incredibly well with respect to to a and also with respect vaccine that is going to protect us totally. They have some great potential. It is going to take a little while, but they have some great potential. Some great early results. The governors have been working hard and we are working hard with the governors. Great coordination over the last little while. We have given them a lot of equipment, a lot of ventilators, a lot of equipment of all types. I will protect you if your governor fails. If you have a governor that is failing, we will protect you. But the governors are working well with us over the last period of time. Today in our stockpile of ventilators, and again, we need the stockpiles so we can immediately move them from place to place wherever the monster hits. Its a monster. We have 8675 ventilators right now in stock ready to move and we have all sorts of incredible soldiers, our military is going to move them should they be needed. As an example, if we need any additional in new york or the new york city area. I spoke to mayor de blasio and we really have a great, well coordinated campaign with mayor de blasio. I spoke to governor cuomo. There has been great coordination. If they need something, we have it. If louisiana needs something, we have it. Same thing with michigan, same thing with illinois. There are certain spots that are very hot. We will see what happens. We will be able to move it. 8675dition to the ventilators, we have 2200 arriving on april 13. We have 5500 arriving on may 4. These are ones that we are building for the most part. And we have, as you know, Great Companies building them. Ford, general motors, ge. We have really some Great Companies that are doing it. On may 18, we have 12,000. On june 1, we have 20,000. On june 29, we have 60,000 ventilators coming. 60, 60. We have a total of 110,000 ventilators coming over a short period of time. I dont think we will need them. Hopefully we wont need them. We will have them for the future. We will also be able to help other countries who are desperate for ventilators. The u. K. Called today and they wanted to know if it would be possible to get 200. We will work it out. They have been great partners, united kingdom. We are going to work it out for them. They wanted 200, they needed them desperately. We now have 10 drugs and active trials, with 15 more soon to follow, as well as two vaccine candidates in active Clinical Trials. We will do whatever it takes to secure needed medical supplies and bring more production of essential medicines back to our shores. We are bringing them back to our shores. A lot of these companies, they went a little bit haywire. They went away from this great country and they had them produced elsewhere, so we are going to start bringing them back. I have been talking about that for a long time, not only with medical, but lots of other things. America continues to perform more tests than any other nation in the world. I think that is probably why we have more cases. Because when you look at some of these very large companies, i know for a fact they have far more cases than we do, but they dont report them. 7 millionerformed 1. 8 tests to date. Think of that. Date. 000 tests to now we are performing them at a level no one has ever seen the. As we announced yesterday, cvs testing sites in georgia, rhode island will be using abbott labs rapid fiveminute tests so that people can get the results back very quickly. On thectively engaging problem of increased impacts this is a real problem. It is showing up very strongly theur data in africanamerican community. We are doing everything in our power to address this challenge. It is a tremendous challenge. Terrible. And, provide support to africanamerican citizens of this country who are going through a lot, but it has been disproportional. They are getting hit very, very hard. We have tony here. I would like come up and address that and then i will continue. That would be great. Dr. Fauci thank you. We have a particularly difficult problem of exacerbation of a health disparity. We have known literally forever that diseases like diabetes, hypertension, obesity, and asthma are disproportionately afflicted the minority populations, particularly the africanamerican. Unfortunately, when you look at the predisposing conditions that lead to a bad outcome with coronavirus, the things that get people into icus that require intubation and often lead to that, they are those are disproportionately prevalent in the African American population. It is very sad. There is nothing we can do about it right now except try to get them the best possible care to avoid those complications. Pres. Trump thank you. I think you will have some pretty accurate numbers over the next few days, right . They are very nasty numbers. Terrible numbers. Abbott machines have been shipped now nationwide. Up to 500 more are being produced every week. And 50,000 testing cartridges are being manufactured per day. That means a lot of very fast tests. No nation in the world has developed a more diverse and robust Testing Capacity than the United States. We are dealing with other nations, helping them out because the testing has been very tough for them. Our tests are very accurate. A lot of tests are out there and they are not accurate at all. Some of the tests, you dont have a clue whats going on. We are working with other nations trying to get them help also. In a time where Many Americans are experiencing increased stress, anxiety and personal loss, we must ensure that our country can meet the Mental Health needs of those struggling in this crisis. There are people struggling. They are struggling. And some people are getting to know each other. Some families are getting to know each other on a positive note but there are a lot of people struggling. On thursday, i will be speaking to leaders and advocates from the Mental Health organizations all across our country. About going to be talking resources and tools that will make available to them. They need help and it is a big problem. When you take something where it was the most successful country in the world still is the whole world is shut down. Think of it. We are down to numbers that are incredible. As i said yesterday, i think it is 182 countries right now. 182 countries are under attack by thisby the scourge, virus. But, as we wage medical war on the virus, we are also speeding economic emily President Trump continuing to talk about the latest on the coronavirus efforts, detailing the numbers on ventilators expected to be ready in the United States through jim. June. Talking about potentially sending 200 ventilators to the u. K. , as the u. K. Struggles with her own crisis. The u. K. Prime minister Boris Johnson remains in the icu with the coronavirus. We will continue to listen into what the president has to say. Hoping to hear more about potential plans to reopen the economy. Still waiting for more details on the headline that crossed earlier. You can continue to listen to this press conference on the terminal at live. That is it for bloomberg technology. We will see you back here tomorrow. This is bloomberg. Beyond the routine checkups. Beyond the notsoroutine cases. Comcast business is helping doctors provide care in whole new ways. All working with a new generation of technologies powered by our gigspeed network. Because beyond technology. There is human ingenuity. Every day, comcast business is helping businesses go beyond the expected. To do the extraordinary. Take your business beyond. Shery good evening from bloombergs world headquarters. Im shery ahn in new york. Haidi im haidi stroudwatts in sydney. Welcome to daybreak australia. The other top stories this hour the coronavirus marches on with the u. K. And new york reporting the deadliest days yet. However, plans underway to reopen the u. S. Economy in the coming weeks. Oil productions forecast for the year as the virus fallout