The start of the week, a huge. Otation towards value the s p up by 0. 6 . The pound is positive. The departure of dominic ,ummings at 10 downing street going at the end of the year, setting up expeditions that may be a brexit reset and a deal as possible. Interestingly enough, we are seeing a continuing move in what we are seeing in the bond market. Bonds are bid today. He was there moving back down, unsurprising and what we heard from Christine Lagarde yesterday. More broadly, the virus definitely back in charge. The vaccine news at the beginning of the week, the virus news at the end of the week. Alix such a great way of framing that. Lets break down the virus issues more. The global coronavirus case is now topping 52. 9 million, deaths climbing to 1. 3 million. Focus is on europe and how it is addressing the virus. Joining us is Bloomberg Opinion columnist ferdinando juliano. The story in the u. S. Is that you guys are doing targeted lockdowns, and it is working, and the cases are leveling off. Is that true . Ferdinando that is the Positive Side of the story. Lockdowns are certainly less sweeping that they were in the spring, and there are some signs that countries like the u. K. Or france or the netherlands or ireland, the curve is flattening. That side to the story is that the level of hospitalizations are still very high, and there are capacity constraints and hospitals are under a lot of pressure. Of course, deaths are rising too, a lagging indicator, and ultimately the most tragic one. So there is some good news, but overall, the situation is still pretty worrisome. Indicationre any that the effects of the virus in the lockdowns will be less this time around . We had a series of waves coming through. Europe has probably had two, it looks like the United States has had three. In terms of what is happening here, is the virus having less of an effect on society than it did right at the beginning of this process. Lookingdo if we are purely from a medical point of view, we are counting more cases because we are testing more. We see with the effects are on deaths come about at the moment, it could look quite similar. We are catching people with the virus earlier, and probably treating them better, so that will have a positive effect. Overall, it is still pretty sick and. , myerms of overall shock impression is the amaq shock wont be as bad, and that is because lockdowns are less stringent and global trade, for example in asia, have resumed really being in business, so that means that for example, manufacturing in europe is doing pretty well. Size, that is the bit i am most worried about, of a second wave of lockdowns. However, it is having a real psychological impact on people. I can tell you just from my experience here that the situation is certainly tougher in a way than it was in march and april, when it was all very new and people were less tired than they are at the moment. The psychological effect is here, and it is pretty strong. Alix thats a fair point. We also showed mobility in countries from france, germany, the u. K. , etc. Do we have an idea of which countries are doing it correctly . Which measures are actually working . Ferdinando there are different views. It is very hard with this virus to understand exactly. We know in europe that germany has already been able to limit the impact on both the Health Care System and on beds. That seems to be a good, proficient use of testing, tracing, and having a lot of hospital beds available. Thate first wave, we saw the countries which enforced lockdowns earlier seem to be doing better. That was what happened in greece. At the moment, it is very hard because obviously, there is the . There is the question mark of sweden. Pickeryone will want to his favorite explanation for why some are doing better than others. My overall impression is that still, if you are able to leastain at highfrequency activities, places were lots of people crowd and gather, you are going to be more effective in stopping this. Ferdinando, thank you very much indeed. Lets look at how the markets are dealing with all of this. Should k, unit just ceo, isick, unigestion joining us now. We have been dishing up the week focusing on the reemergence of the virus both here in europe and over in the United States. Shouldnvestor, which one i be investing for . Should i be investing now and being defensive, or should i be investing for the arrival of the vaccine and this huge shift, like the one we saw on monday, to value . Fiona i think it depends on your horizon. I think the news of the vaccine, as well as the news on the election, is positive for growth on the midterm. We see and scenarios for this perhapsisis, and we see in the u. S. A trajectory for growth for companies because there will be better cross regional relationships with europe, with asia. On the medium term, as think theres good news this week, which is obviously the Covid Vaccine and the u. S. Election. In the short term, obviously, there is this second wave of covid, which puts pressure, and knowing that although growth has been strong in the Third Quarter and has recovered quite a bit, we are entering in the second wave not in the situation we were in in the first wave. That is why be believe there is still some struggle in the that is seen in the rotation we see in stocks since the beginning of the year because it values and cyclical stocks have rebounded dramatically on monday, the market is not clear today if you have to pay your covid stay at home stocks or covid go out stocks when covid is out. Alix that is a great point. Something else we saw this week was the steepening of the yield curve, as well as in the u. S. , and particular rates almost at about 1 . I wonder, when do high rates and less negative real rates start to have a Material Impact on the market . Fiona i think there will be more activity on the rates Going Forward, and think the good news for some,hat we know and the yield curve there is controlled on by Central Banks because there will be quite active on that market, and therefore they will control the of the longterm bond. Yesterday ofn Central Banks, it was quite clear that the target was to leavelee yields was to yields low for a long time to allow consumers to invest, and therefore markets will be counterbalanced by central bank moves. See this happen, as we see Central Banks continuing to deliver lots of liquidity, do we find ourselves in a situation where once again, that provides a sort of perfect scenario . We have at the moment the opportunity to look ahead to a vaccine. The market is already starting to do that. We have gridlock in washington, which apparently the market seems to like at the moment. Central banks telling us they are going to continue to provide whats of liquidity. That strikes me as a recipe for asset prices to go significantly higher from here. If that what you would expect to see . Fiona no, we would expect volatility on the. Valuation on asset classes, particularly growth assets, are quite expensive. Whatever move in Market Sentiment can have the strong market, wehe stock dont exclude the strong sector rotation, even if this will not necessarily mean that the index will be going up or going down. But under the surface, a lot of things can happen in the equity market. There is still the uncertainty around the fiscal stimulus and the u. S. , which is very important. I wouldnt be so reassured that we will have a bull market for the next three months if we go totally risk on. Alix so where does value, and that could be within the equity market or value regionally, where does that fit into your thesis . I think at the beginning of the week, what has rebounded is not value in the entire segment, but it is really the cyclical stocks, the transportation stocks, the cruise stocks, airline stocks. I would imagine that next year, you could have a move towards , but value stocks perhaps less extreme value. What iclical stocks then have said before. Guy do you worry that some of those cyclical stocks and the transport names really stand out here and theyre still going to have to raise significant amount of money . You look at the european airlines, for instance, and the possibility of large and highly diluted price issues still exist. Could this be a trap . Airlines will the have to still live another six to nine months which will be quite tough, and if you look at data, theyd say they dont see normalization of the airlines 2023, so before people can travel as freely as they want to. I think there is a long time to go. Not only the airlines. Of thethe airports, all infrastructure around airlines is also very heavy. Alix something that is always in the conversation when we talk value and cyclicals is emerging markets. It seems like everyone likes emerging markets. What is the risk of being too consensus . Fiona the risk is that emerging markets have performed quite were trading a trade which is all ready been traded, but the truth is that today, especially asia and china , the engine of growth, which is also good news for other regions of the world, but the fact that china will be positive for the euro is quite good news, and for , we will seemonths europe and the u. S. Will profit from that also. The Manufacturing Sector in europe is alix it was really wonderful to get your perspective today after a very interesting week in the markets. Exit ofp, it is the brexit architect Dominic Cummings. We will take a look at the turmoil in Boris Johnson inner circle. It is next. This is bloomberg. Guy live from london, im guy johnson. Alix steel is a new york. This is the european close on bloomberg markets. Prime minister Boris Johnsons most powerful aid has quit. Dominic cummings will lead by the end of the year. He was the second key advisor to johnson to head for the exit after tensions blew up. Cummings was the mastermind of the successful Brexit Campaign vote leave. This is being portrayed as an internal fight over communications, over access. Is that what this is about . Financial markets are reading this as a significant develop and in the brexit story. Is it the former, or is there some degree of brexit leaking into the story as well . Reporter ultimately it has been a bit of a power struggle at the top of number 10 for a while. Dominic cummings has been by Boris Johnsons side since he became Prime Minister last july. Dominic cummings led the very successful Vote Leave Campaign. He ultimately propelled Boris Johnson to that position come so Boris Johnson owes him a lot for that. But i think in the past year, we have seen factions evolving in number 10. A lot of criticism about how Boris Johnson surrounds himself with a very small gang of people , and in terms of Dominic Cummings, that a lot of members of parliament dislike. Communications, there was some speculation that he would become Boris Johnsons chief of staff area the backlash to that from the party was so much that the Prime Ministers decided ultimately not to do he then resigned. And now we see Dominic Cummings resign. I think there are factions within number 10. I can see how it is playing out in the Financial Markets on brexit, but we were assured in a briefing earlier that this has absolutely nothing to do with brexit. Dominic cummings told reporters himself it has nothing to do with brexit. You can see why people would jump to that conclusion, given involvement in the Vote Leave Campaign and brexit itself. Alix nevertheless, if the u. K. Was ready to make a deal with the eu, give up a little, get a little, does this make that easier, or the same for Boris Johnson . Emily you have seen some speculation that perhaps the u. K. Was about to do that, maybe willing to give a little ground on the brexit talks, and that is what forced Emmett Cummings to move, but he has denied that. Number 10 has denied that. You also see that the chief negotiator david frost, who is an ally of Dominic Cummings, has chosen to remain in place. That has perhaps given an idea that he sees a brexit deal oddly to happen in the next few weeks. I think we will just have to see how that one plays out. Guy his lord frost going to stick around . He says, thatwhat he will stick around. Whether he will stick around for however long, we dont know, but for the next few weeks at least, i think we know he is staying put. Alix where does this leave the tory party, if at all, and terms of how united or not they are, in terms of an agenda Going Forward . Emily for some of the reaction today, i have been speaking to some ministers and senior mps. They are quite pleased with Dominic Cummings going because he is a very divisive figure. He led the Vote Leave Campaign brilliantly. Nobody really expected that to be the result of the brexit referendum. That was clearly down to him in his campaigning. But he has always said he doesnt like the establishment, the silver service, and ultimately, he doesnt like parliament, and hes made that very clear. They dont want the prime minster being close to a person putting poison in his ear about them, about mps who have been elected by the public. Dominic cummings has not been elected. So they are happy, and they want to see a reboot of Boris Johnsons whole strategy and government. A senior mpi was talking to arlier once him to appoint couple of chiefs of staff who actually know what is going on. Alix i really appreciate it. Great detail, emily ashton, u. K. Government reporter. This is bloomberg. Alix time now for a Bloomberg Business flash. The biggest food Delivery Platform in the u. S. , doordash, has filed for an ipo. In a set to join airbnb finale to what is already a record year for ipos. Private investors valued at at 16 billion back in june. Draftkings higher after the comedy raises its revenue forecast for this year, an indication that the rise of Sports Betting shows no signs of slowing down. Draftkings is now looking at Revenue Growth of up to 30 this year. That assumes all sports calendars are maintained through the end of the year. Johnson johnson wants to speed up the testing of its experiment oh coronavirus vaccine. It has turned to data experts at United Health to help recruit 60,000 participants. The companies hope their partnership will cut the trial time in half. That is your Bloomberg Business flash. Lets pick back up on the virus. At least here in the u. S. , we are urgently watching new York City Schools, if they will be shut down. The Positivity Rate is just a stones throw away from a level that would trigger an automatic shut down. California also has new curbs as well. The question is there is no National Policy right now, so it is a hodgepodge of states and regions trying to get it under control. Guy you absolutely sound like you have memorized those numbers in new york. Alix a little bit. Guy what a week, though, and some anyways. The monday story was really dealing with the reaction to the president ial election, the biden win. That didnt last very long. Then what you got was a fume and its later into the european session, the news on pfizer, which completely changed everything. At that point, you had this massive rotation, this move to value, kind of unwinding very quickly. That has really been the story. We started the week that way, finishing the week looking at what is happening with the virus and the huge numbers we are seeing. Weve just seen the numbers out of italy, pretty alarming numbers out of the u. K. As well. The other thing that is amazing is the dollar has held up. In fact, the dollar has strengthened. The ibex in spain is up by 13 this week. The nasdaq is down by 1 . The chinese equity market is down by 0. 5 . Huge differences in terms of the performance we have seen. Alix and i think the question now becomes for investors in the short term, what are the moderna results that we are expecting at any time . How much of that is priced into the market . Many are saying because the pfizer result was so extreme, that that has already been priced in. That will determine a lot of the shortterm momentum. Tech hasthe bashing of been really significant this week as well. You have seen it particularly in have seen itu broadly in the United States as well. There is a regulatory overlay to that, a rates overlay to that. It is just amazing to see what is happening here. But have we had that initial kneejerk reaction to the vaccine news . Does that now start to fade the amplitudes going down with every positive piece of news . It also needs to be seen against the rising virus cases. What a week. What a complete switch from one side to the other. More details to follow. The european close is next. This is bloomberg. Guy we are winding up the European Equity session for the session and the week. Friday the 13th. Something of a nonevent for the European Equity market. Up. 2 . Not much to fear. A very mundane session relative to the week we have had in the idea of what that week has looked like. Monday the real catalyst for change in these markets, the pfizer news on the vaccine, really providing significant movement. That was monday. We came in with a small cap higher. That gap higher generated by the general election in the United States and the election of joe biden. Movementcan see is the on the Pfizer Vaccine news, which shot european markets to the upside. We have climbed through monday, tuesday into wednesday. Wednesday we have been going nowhere. The reason for that is from wednesday to ourselves in a situation where we have focused not on the vaccine, but on the virus. Two different narratives, two sides of the same coin but with very different reaction in terms of the way the markets will read them. Lets give your idea of the differences we have seen around the world, compare and contrast. Market, thee madrid spanish economy has been smashed by covid. Highly exposed to services, highly exposed to tourism. That market up 13. 5 at an index level. The nasdaq down 1. 17 . This rotation away from tech into value benefiting europe. The Chinese Market down. 6. That was a tech play. And about the virus story more about the regulatory review the Chinese Communist party is having of the way it treats the tech sector. That gives you an idea of the spread different we have seen around the world. In terms of individual names in europe, weve seen incredible performance this week. Iberiaat is the owner of and British Airways amongst a host of other names. That stopped rising rapidly, up 40 . Emblematic of the story we have seen within the travel sector. Retail is a huge benefit. A developer of retail, a property developer, specializes in retail space. Its stock up 64 . Jobs,der cutting 4000 making that announcement today, but its stock with its exposure into the u. K. And the spanish economies, that up 34 this week. Incredible performances being generated in europe as a result of that vaccine news we got on monday. Alix lets dig deeper into vaccine news. Ceo says thene Drug Companies are staking the reputation on the Covid Vaccine. The world will pay a high price of any of the vaccines fail. Sheet talk about the challenges she talked about the challenges with carlisle cofounder david rubenstein. We have been delighted with the first results coming through on vaccines. I was just on a call last night with 10 of the global pharmacies and theyre all very heavily involved in bringing solutions to covid. We are really excited and optimistic to see some of the first data coming through and looking forward to seeing a lot through in the next fix months or so. We have three vaccines in a clinic and two therapeutic treatments. David some people are not willing to take a vaccination. , some surveys have said only 25 want to take the vaccine because they think it has been politicized or they do not like vaccines. Are you worried people will not take the vaccine . Emma of course. We remain concerned about vaccine hesitancy, but we also have to be incredibly respectful about why people have these questions. Have we been able to move fast . Half the Companies Put in the like kind the right kind of processes and scales of trials. What transparency will we bring to the processes and what does all this mean . Our job is to make the commitments we have come and we have very publicly about that alongside other manufacturers, but also make sure we shared data transparency and partner with governments who ultimately are those that died in Different Countries around policies and intributions that guide Different Countries around policies and distributions. David you are a member of microsoft board, so i assume you have a fair amount of background in technology and i. T. How view been able to apply that to what you are doing at glaxosmithkline . Emma i would never describe myself as your background in technology and i. T. And im sure that is not why i was brought on the microsoft board, but it is an extra ordinary company doing extraordinary things in a responsible way. Conversation with the glaxosmithkline ceo. That will go out next wednesday and be on a 9 00 in new york, 7 00 in london. It is a relevant conversation for everyone at the moment, trying to figure out what impact the vaccine will have on your investment portfolio and whether the virus is something you should be focused on cured socgen says shouldve vaccine develop it remain on track, that is good news for u. S. Equity markets. Earnings could grow by 20 . Socgens multiasset strategist joining us now. Sophie, this week it is europe that has benefited, not the United States. If we get a vaccine, is the United States the place to be . In terms of the regional allocation, it is clear the s p and the nasdaq is not the place to be. Europe has been a huge contributor to the priceperformance. Midcaps or something in the u. S. , or the euro zone will be the other place he would want to invest in case the vaccine momentum keeps going. Alix how consensus is that . How much of that is price . Sophie it is clear when you talk to investors being into long em equities due to the overview is substantial. There is a discrepancy between what the consensus is saying and what the actual money investors put in play, and i think that at this point investors are still , andng on the sideline some of the reaction of equity markets this week that investors were not into value, were not invested in risk assets, and this should keep going into next quarter. Guy how far through this process are we . As you say we probably started the week with very few people invested in this trade. How many people have made the decision this is the moment they need to start maybe not moving wholesale into the value position, but they need to start the process. How long do you think it will take . Sophie it will be very gradual. We are not expecting a crash on tech stocks that have been playing the role of protection gradualwe will have a reallocation of u. S. Tech into more cyclical components and i think that is why people will willhis mindset where you get growth, and we think all tech makes sense where they are geared to 5g and are cheaper than big tech, but on the others you will going to strong value, so companies with cash, a strong balance sheet, but could benefit from a vaccine and reopening of the economy. The barbell portfolio from there could make sense with its shift in portfolios. Guy what kind of move alix what kind of move in the treasury market will we have to see you have hedge funds rethink a lot of their positioning . Threshold everyone is talking about is 1 . What we need to be careful about is which businesses will be able to withstand such a level in an economy and world where the crisis and even more leverage out of it. Out of it, 1 would be the threshold, but we see 1. 2125 has another threshold because that is where deferred value is during above this, if we do not have confirmation the economy is on a vshaped recovery, that it will be very hard for the corporate world to bear it out. We would continue to stay away from Leverage Companies and i think the Investor Community are quite aware of that. Sophie, if i am index investor, am i going to make money during the shift . Are we simply going to see money rotating out of the tech sector into the really beat up areas . And edit index level, we will go nowhere . An index level, it up because will go what will be priced in will be the new cycle. What is clear on the equity ket at this point is that still in sector picking mentality, not stockpicking yet. What you will have to find is which equity indices are more geared to the cyclical sectors. It is clear nasdaq 100 will not do as well as the midcaps, for example. You will have to be careful which you will choose. Sophie, well wrap it up there. Thanks for input. Nh of socgen. We appreciate it. That is it for the week. We are through the auction process. It has been an incredible week in so many ways for european equities, and we finished the week more focused on the virus then we have on the vaccine. Nevertheless we have been watching that carefully. Those are the final numbers. I want to bring you the news. This is largely expected to be brutally honest. Tiktok has been granted a fifth teen day extension on the forced sale debt a 15 day extension on the forced deadline. The deadline now extended to november 27. Another extension in this process. If you want to carry on with the coverage, we will do that on bloomberg radio. Jon ferro will be joining me in london. We will be on dab digital radio. A bit of postgame analysis, bit of postweek analysis on what we have seen this week. This is bloomberg. Alix youre looking at a live shot of the principal room. Coming up, jason robbins, drafting ceo will be joining in new york at 3 30 p. M. This is bloomberg. That is certainly good and welcome news for the mediumterm , although significant challenges and uncertainties remain about timing, production, distribution, and the efficacy for different groups. From our standpoint it is too soon to assess the implications of the news for the path of the economy, especially in the near term. As we get more news from the vaccine situation, i hope not only will it give encouragement to hope, it will also start to begin to reduce the level of uncertainty over the outlook for the future. We are not there yet, sorry to say, but that is important for Monetary Policy because we are having to make Monetary Policy and conditions of extreme uncertainty. Wantdent lagarde i do not to be exuberant about this vaccination because there is still uncertain t about the rolling out, about the fabrication, about the number of people that will be vaccinated in the course of 2021 so we can reach the herd immunity, which will then give us more certainty from the health point of view. Worlds most the powerful central bankers, jay powell, Andrew Bailey come in Christine Lagarde speaking on the impact of vaccine will have. Lets look at the longterm impacts of the pandemic with david miliband, former u. K. Foreign secretary and current ceo of the International Rescue committee. Helps those in humanitarian crises. Lets talk about the vaccine. How worried are you we will not see an equitable distribution of the vaccine when it becomes available . David good to be with you. I am not worried. Im afraid one has to expect there will not be an equitable distribution of the vaccine. It is right that essential workers are at the frontline. It is right the front of the line, it is right the elderly and those who are sensible to disease or at the frontline, but the great danger is the large parts of the world are left out. The reason for this concern is based on very recent history. Thenow the example of massive economic stimulus being given in the richest countries of the world, but we also know the global Macro Economic response in developing countries indeed. Very weak we know 64 developing countries spend more on net interest than they do on health coverage. We are in a situation where large swathes of the world are having to plan on the basic the pandemic will become endemic in this will be a four year process before they get the benefits of the vaccine. That strengthens the need for immediate action to protect immunity, not just on the health side but on the economic side. Alix not to be a pollyanna about it, but does President Biden change the scenario on a multilateral countries working together scenario . David that is a great point. Like everyone else we are desperate for a bit of pollyanna. Do not apologize for being pollyanna. The Biden Administration has made detailed commitments. I am from european background, although i am now a u. S. Headquartered, the american position is not to have detailed manifestoes, but if you look at the Biden Campaign plan on things like engagement with the World Health Organization to ensure a Global Pandemic response, not just a different kind of u. S. Response, if you think about what they have set in respect to the last humanitarian disaster in the world in yemen, theyve been clear about what they want to do. If you think about the way in which they have talked about bringing american presence more clearly into global diplomacy, it is not a question of being pollyanna. It is clearly a new start. Guy how different will that be for what you do . The Trump Administration took a very hard line on refugees. It took a hardline on those that needed to move because of what they had to deal with at home. China was one area you could argue that was an exception when nevertheless, how different in terms of the approach that will be taken do you think we will see between the administrations . David in some areas, very stark difference. One example for u. S. Audience would be to think about the number of refugees allowed into america. President trump cut the obama level of 90,000 down to just 15,000 allowed in in the precovid year. Resident Elekta Joe Biden is that he wants president elect joe biden has said he wants to go up to 125,000. People who have come from the most vulnerable communities become patriotic and productive americans. On the global scene, there some areas like the World Health Organization, like engagement with the European Union. In other areas it will be more nuanced. There are issues around syria, changesibya, where the will be taking place over a longer period of time and measured more in inches than in miles. It depends on the policy areas we are looking at. One final point, i think we have seen systematic demonization of many of the people who we serve, refugees branded as a terrorist threat rather than civilians. I think the biden team have made clear they want america to reestablish its place as a humanitarian leader, and i think that is why it is significant and in tune with congress, which has resisted president trumps attempts to cut the humanitarian aid budget and some of the recent polling, with the american people. Guy on a more alix on a more immediate front, biden has been mentioned in the brexit conversation, his Irish Heritage being spoken about, Boris Johnson and donald trump side to on that issue. How do you think the Biden Administration or president elect biden plays into the brexit conversation . David i think the biden team are serious people. Theyre not interested in playing games. That has two immediate implications for brexit. They will see the European Union as important and powerful global , and the biden team can see the power in paris, berlin, and brussels. Bilaterally with u. K. , i think there are a couple of messages that are clear for the joe biden camp. First, they value the u. K. And they want the u. K. To bring its resources to the table. Second, they want the u. K. To ensure it does nothing to undermine the peace in Northern Ireland that was so hard one in which america played an important which was so hardwon. Third, the biden team will be saying to the u. K. , youve left the European Union, but do not cut off your foreign policy, intelligence policy links with the eu. In your argument about the trade deal, beware allowing those Foreign Security intelligence policy aspects to get lost. Time in spent a lot of the corridors of power in london. What is your assessment of what is happening in 10 downing street. Ofare seeing the departure don cummings and the powers he had in downing street seems to be fading fast. Do you think there is a prelude to Boris Johnson doing a deal . David i am not sure if i meant to say that, but i do not know about the goingson inside the conservative party. What i do know is in common with many other countries, although with additional challenges, the u. K. Faces a very challenging time and needs a clear and coherent government. The k is dealing with a very bad pandemic situation the u. K. Is dealing with a very bad pandemic situation. It is the last chance for the brexit negotiations. There is a roiling of the scottish nationalist issue. This is a time when people need coherent, consistent government. You can see the kind of tone being set in the transition by the incoming joe Biden Administration. There are lessons about how government can convey shortness of purchase, clarity of shortness of purchase, clarity of touch plummeted is the peoples needs that count. And it is the peoples needs that count. Alix thank you very much, david miliband, former u. K. Foreign secretary. This is bloomberg. I am live from new york, alix steel with guy johnson in london. Guy, youve been freaking is that with the friday the 13th think youre at second one this year. Typically the markets handle it like every other day. Again of. 65 . Let me freak you out. March 13 was the last friday the 13th in new York City Schools shut down that monday. Probability is York City Schools will shut down this monday. Guy you do not care about the market. This is the only thing alix cares about is whether or not school be shut down and it looks increasingly that will happen in new york on monday. Alix there was a huge swing on the last one. You can have three friday the 13th in a year. You cannot have anymore. In march the s p gained 9. 29 . It makes you wonder what will happen next monday. Mirroring of the events holds true. Alix did i mention schools close to the 13th . [laughter] happy weekend. Powerup, balance of with david westin. Diversityaking to the of michigan director for Disease Research and policy. This is bloomberg. When you switch to xfinity mobile, youre choosing to get connected to the most Reliable Network nationwide, now with 5g included. Discover how to save up to 400 a year with shared data starting at 15 a month, or get the lowest price for one line of unlimited. Come into your local xfinity store to make the most of your mobile experience. You can shop the latest phones, bring your own device, or trade in for extra savings. Thats simple, easy, awesome. Visit your local xfinity store today to ask, shop, discover the latest on xfinity mobile. Adapting. Innovating. Lsetting the course. But new ways of working demand a new type of network. One thats more than just fast. You need flexibility to work from anywhere. And manage from everywhere. Advanced technology. With serious security. And reliable coverage, nationwide. Forwardthinking enterprises, deserve forwardthinking solutions. And thats what we deliver. So bounce forward, with comcast business. From bloomberg World Headquarters in new york to our tv and radio audiences worldwide , im david westin. Welcome to balance of power where the world of politics meets a world of business. I went to check on the markets. These markets have been all over the place this week. We are back up again. Abigail all over the place this week and lots of news to digest, including the virus worsening. At this point pulls not seeming to care, looking past this, thinking perhaps it will not be as bad as it was before even though there are signs that are concerning. At this point we have the s p 500 hire. We have outperformance for the russell 2000, the smallcap index up one point 4 relative to the s p 500, up. 9 . The energy index is up sharply, up 3 . The Banking Sector doing very well. What makes this interesting, this week started off with a huge rally for the cyclical sectors and small caps overall. We are ending that way and that had to do
comparemela.com © 2020. All Rights Reserved.