Because the s p 500 is down a little bit more than it had been , down poured 4 . Earlier it had been down. 1 . Perhaps a reason for caution overall to think maybe the difficulties around the nearterm may continue to move ahead. If we look at havens on the week, we have the yen climate against the dollar and bonds higher. Some reason for caution, but small moves. David one piece of news overnight. Late yesterday we heard Steven Mnuchin had sent a letter to his friend jay powell saying please give us back the money we gave you for the emergency Lending Programs. He probably did not like jay powell do not like that much. Did the markets like that . Abigail we have not seen much of reaction. Bonds are lower which means yields are higher. What is interesting is we do have a reaction for the financials. The financials typically would climb on yields going higher, but they are not. There i be uncertainty around this bat and what it means. The lifeblood of this rally coming out of the march lows has been the fed liquidity and the assurance they stand by ready to do whatever it takes. If the lifeblood is being taken back, that could be a concern. We are not seeing those concerns relative to stocks. Stay tuned, if there is any sign that will get worse, that could be an issue. That would be a systemic concern for investors. David thank you so much for that report from abigail doolittle. Covid is surging again at this time it is not just the northeast or the south. It is all across the country. It is coming back to the northeast, including connecticut which reported 2400 cases yesterday and a Positivity Rate of 6. 9 . We welcome the 89th governor of connecticut, ned lamont. I understand you are passing a milestone today. Let me first ask about you personally. I understand members of your staff have tested positive. Youre in quarantine. How are you . Gov. Lamont i am doing fine. With an abundance of caution im staying close to home. And member of the staff did test positive and that is why we quarantine for a while. David in the meantime youre passing the landmark of 100 thousand cases for the state of connecticut. Give us the state of the state as it were with respect to covid . Gov. Lamont we have 100,000 cases, six point 6 positivity. We have the lowest and that we had the country up until a few months ago. We are creeping up now. As you are reporting out on the last time around it was regional. It is no longer regional. There is no elsewhere. There is no way for us to get nurses from more people. It is in all 50 states and every single town in the state of connecticut. David i was going to ask about the distribution. Ive been looking at a chart you put up with red for more than 15 cases per 100,000. Premuch the whole state is red. Is there a variation according to geography or demographics, age, for example . Gov. Lamont we are doing so much more testing. Well over 200,000 a week. We are detecting the virus earlier. We do have a younger demographic. We are getting folks quarantined earlier. If folks go to the hospital, we are detecting that earlier. Theyre spending less time the hospital, all of which is good news. I would say the Community Spread is pretty broad and it can be in an urban area like connecticut or a more rural area like norwich connecticut. Guy what are you thinking david what are you thinking about with respect to closures . We are seeing actions by local leaders, different approaches. What are you planning for connecticut . Closed our we have restaurants after 10 00 at night. Reduced capacity to 50 . What i am really focused on is boards. ,e down a lot in the classroom the inventions are not happening in the eyes drink, but it is a ink, but itthe ice r is driving up to the ice rink. High School Schools put off until january 19, club sports put off until january 19. Im doing everything i can to keep our schools up, i think it is vital for mental health, especially k through four i, very low infection rate k through five. Very low infection rate. Doing everything we can to keep our schools open. David lets talk about where we go from here. The vaccine may be coming, though it looks like well have a tough time getting there. Acting head of Public Health said you do not have the money for distribution. Is that right . Gov. Lamont there is not much federal money so we are working as best we can. Theleading our backs leader of our Vaccination Committee is great. Fund. E a rainy day it is raining germs. We will not pinch pennies when it comes to getting the vaccine out to everybody in need. David what are you looking for from the Biden Administration . Lets jump ahead to january 20. What would you like to see from the Biden Administration . Gov. Lamont lets all speak with one voice when it comes to the mask, when it comes to social distancing. We had dissidents over the last eight months, that was a confusing message to people. Support,o, in terms of lets put in place a strategic vaccination plan, lets fund that so all of our 50 states are working in lockstep and we get this done appropriately. Thirdly, state and local aid, particular for Small Businesses to help us power through so we could avoid what could be a real recession. David what is your situation with respect to the economy, your situation with respect to unemployment . Unemployment is less than 10 , but as you know, it is a service economy, it is restaurants, it is retail where a lot of the employment takes place. I hope we can keep these things open. Retail we can keep open because we can do that safely if there is no overcrowding. We will know a lot more in the next couple of weeks, what way . David we sure will. It looks pretty bad at this point as a practical matter. As we look forward come is there much communication out of the Trump Administration out of the Distribution Plan . We are told there is a plan. I have not heard it. Gov. Lamont i have a lot of informal relationships with the Trump Covid Task force and the biden task force. Official communication from the trump team is not too consistent right now. David lets talk about how it is changing connecticut. What are you seeing in terms of immigration into connecticut, for example from new york, and outgoing from connecticut into other states . Probably 30,000 families have moved into connecticut in the last five or six months. Overwhelmingly coming from new york, they want a less congested environment, may a backyard, maybe it is easier to quarantine. I do not wish ill of new york. We are part of the Greater New York ecosystem. To me to still the capital of the world and we will work through this together. David what about the cooperation . I understand youve been meeting with other regional governors. What comes out of that . What you come up with as an approach . Gov. Lamont i could do something with bars or restaurants, but if andrew cuomo and Charlie Baker in massachusetts are not on the same page, it is meaningless. We work very closely. Was we announced last week thousands and thousands of college kids coming back to our region, some from the university of south dakota where you have a 40 retention rate. We want to get the message out to universities and airlines that you have to test before you get on that plane, quarantine, and test when you land. That is how you would keep your family safe in your community safe. Working as athat practical matter . You have prominent educations of higher learning. What are you doing with people leaving your state and college kids coming back in your state as we approach the holidays . Gov. Lamont we have given the same counsel to our existing colleges because we are sending thousands of kids back across the country. Test these kids before they leave. Do there states a favor, just like we are asking other universities to test the connecticut kids before they come back here. You mentioned the 40,000 people coming into connecticut. Have you had outflow . Are you losing prominent people from connecticut . Gov. Lamont the number one state where people leave connecticut to go to is new york. We are all part of the same regional system. Then it is california. Florida, people of a certain age to migrate to florida. They have been doing that for we had an income tax and after we had an income tax. I am pleased connecticut is getting younger. A lot of young families moving to the state. I feel we have the wind to our back and we have to take advantage. You mentioned the rainy day fund. Theretions were projections your Credit Rating has improved. How did you do that . Gov. Lamont we put in place of rainy day funds of the legislature cannot spend that money. Wait a place where revenues collapsed where revenues would not collapse and we did not have to raise taxes or social Services Great we have 15 of our budget salted away. This is the time to put it to use when it comes to Public Health, more testing, more track and trace, more vaccination support until President Biden steps up and gives us federal relief. David you do not have the federal relief yet. What is happened with the employment by the state of connecticut . Gov. Lamont we are not feeling any jobs this point. Our overall state workforce is down a little bit. Overall employment stays pretty old. We have 88 to 90 of our gdp is back. We kept manufacturing going, construction going. Retail is back. If restaurants had to close, that would impact unemployment daytime. One of the issues is the state and local tax. Do you expect the joe Biden Administration might turn that around and could that help your state . Gov. Lamont absolutely. Salt, implemented in the Trump Administration, was probably the biggest tax increase our region has seen in a long while. Greenwich. They talk about these things all of the time. The good news for us is we ended last year with a small surplus. We got the rainy day fund. No plans to raise any taxes, so at least people your certain with have a degree of certainty we plan for the situation we are in. Was the situation with your hospitals. We are seeing hospital beds being used up. It is not specific areas, it is across the country, so you cannot borrow from other regions. I cannot pay peter to pay paul. There are no peters left. People are spending a lot of time in the icu than they did a lot less time in the icu than they did in april and may. A lot less time that they did on the vence. Vence were very laborintensive, but there is exhaustion for the nurses and doctors and were doing everything we can to get a print as nurses in so we can fill out our support as we go through a couple more months of regular hits. David always a pleasure to talk with you. Have a good thanksgiving in connecticut. Many thanks to ned lamont of connecticut. Coming up, we talk with one of the members of president elect bidens Coronavirus Task force. He is dr. Eric goosby of the university of california medical school. David this is balance of power on Bloomberg Television and radio. We turned to Mark Crumpton for first word news. President trump is reaching out directly to michigan lawmakers to try to overturn the states vote. Bloomberg has learned the president s meeting with republican members of the state legislatures today. Some trump allies have urged him to persuade legislatures to overrule voters and give him the states Electoral College votes. Treasury secretary Steven Mnuchin says he wants to try to revive a stimulus stalemate with congressional democrats. He revealed he is meeting with pop republicans to devise a plan to approach nancy pelosi and Senate Democratic leader chuck schumer. Close en schumer wrote to Mitch Mcconnell asking him to return to the negotiating table. President elect biden says he has picked a treasury secretary and he has promised to announce that next week. The president elect says his choice will be accepted by all elements of the democratic party, from progressives to moderates. Mentioned,ames being Roger Ferguson and former fed chair janet yellen. Republican senator rick scott of florida confirmed he has tested positive for covid19 senator scott added i am feeling good and experiencing very mild symptoms. As chairman of the Senate Republicans campaign arm, he campaigned last week when republican senators david perdue and kelly left her, both facing runoff phrases for reelection in georgia. Global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. I am Mark Crumpton. This is bloomberg. David . David president elect joe biden will take office in the middle of a pandemic that as of now looks like it will be if anything worse on the day he takes office. His first action in starting his transition was to appoint a task force of medical and scientific expert to help them address the pressing need. We welcome one of those experts, dr. Eric goosby of the university of california San Francisco medical school where he is the head from center of Global Health administering and economics. Lets start with the situation as it is now before we get to the future. How bad does it look it will get and how much can we do to turn the tide in the interim period . Dr. Goosby thank you for that. We are facing a surge like we have never seen in the entire covid outbreak, going back the last eight months, this is the most new cases. We are seeing movement into the middle of the country in a much more aggressive manner. The number of individuals who are becoming positive, the percent positive from impure conservation are able to correlate that with congestion in the emergency room, hospitalizations and transfers to the icu. We are in congestion that will continue to push us to more and more people in the hospital needing evaluations and excluding those with other diseases where individuals on did not present themselves the emergency room for evaluation. We are at a moment of crisis. David it felt like last spring we took parts of the system right up to the point of breaking, certainly here in new york city it was bad. Have we use the time since then to get our medical system more resilient and more capable of dealing with a situation. We cannot borrow from other regions because it seems to be universal across the country. Dr. Goosby that is exactly right. In the earlier summer surge we were able to understand the relationship between the number of cases and how that impacts the emergency room. Usually two and a half to three and a half weeks after those congestions are noted. A congregation of individuals at a social event is usually two to three weeks later that they present with symptoms to the emergency room. Exposureade of converting to positive and then becoming symptomatic has been part of the confusion for those responding to the outbreak. The number of individuals who are infected with covid who become asymptomatic, who did not develop symptoms, are a big part of why our Community Spread has been so hard to quantitate and contain. David it seems like, you would know better than i, there may be help around the corner, but it is around the corner. These vaccines see more promising than people anticipated. How can we get to that point, whether it is the middle of the year when we have widely available vaccines. How can we survive to that position . What do we need to do . Dr. Goosby that is the question. The answer does not inject site meant back into the community. , theesponse we have had masking, the social distancing are the two critical ingredients to interrupting the transmission chain. Without that, we will continue to have new cases and continue to contrast our hospital delivery systems. Our ability to allow the withnations to catch up where the surge has already put us is what we need to do. We need to actively and rapidly deploy these vaccines once approved by the fda, and we will ofit against a Background Health worker high risk, comorbidity, age, and then the general population. I think your timeframe is around late december for the health care worker, firstline workers, essential workers, and all elements from schools to custodial services to nurses and doctors. When you do have a broad definition of essential worker facing relationship with the public. Those individuals need to be covered with ppe and monitored in a more aggressive way. We are hopeful that our ability to do that already with the Trump Administrations efforts. Ith the rapid rollout planning we want to understand where that is and make sure we have looked at issues of equity and disparity. We are anxious to engage. David our view having any engagement at all at this point are you having any engagement at all at this point . Dr. Goosby the engagement is not occurring. The president elect has been aggressive in trying to express the concern around no dialogue. The rollout of the vaccine has put a special urgency on it, with now three manufacturers speaking of high levels of efficacy which tells us we need to plan for distribution specifically guy absolutely. David absolutely. Thank you being with us. That is dr. Eric goosby, professor of medicine at the university of california San Francisco, and this is bloomberg. David this is balance of power on uber television and radio. For bloomberg first word news on Bloomberg Television and radio. We want to tease that we will have pat toomey, the senator from pennsylvania. We will have wall street week on with Larry Summers and Christina Hooper of invesco. This is bloomberg. Businesses today are looking to tomorrow. Adapting. Innovating. Setting 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. David this is balance of power on Bloomberg Television and radio. Im david westin. Bloomberg first word news, we go to Mark Crumpton. Statebreaking news, the of georgia has just certified joe biden as the winner of the president ial election in that state, after the completion of a recount by hand that stemmed from a mandatory audit. The count affirmed that mr. Biden one by 12,000 votes out of about 5 million ballots cast. Resident elected biden can now be awarded the states 16 electoral votes. A warning for the european union. The leaders of french and belgium are preparing the block to prepare for a new deal brexit at the end of the year, in case lastminute talks with u. K. Dont result in an agreement. If there is no deal, businesses and consumers will face disruptions and higher costs because of tariffs and quotas returning. The World Health Organization has recommended against using Gileads Remdesivir to treat hospitalized coronavirus patients. The who says there is no evidence it improves survival or the need for ventilation. Less than a month ago, u. S. Regulators granted remdesivir a speedy approval. Neartals in new delhi are capacity, facing tremendous strain as the number of cases continues to rise in the capital. The company hit another milestone today, recording 9 million infections, as new curfews and parts of the country take effect. Experts caution that the official figures may be misleading since many infections could be going undetected. Global news 24 hours a day, onair, and on bloomberg quicktake, powered by more than 2700 journalists and analysts in over 120 countries. Im Mark Crumpton. This is bloomberg. David thank you so much. Mnuchin madestate some news when he sent a letter over to jay powell, saying i want you to return the money that the treasury gave you as a part of that emergency loan program. We had an Immediate Response out of jay powell saying we think we should hold onto it into 2021 because we think the economy is still shaky. A number of other fed president s also said its not a good idea to stop the program. In fairness to secretary mnuchin, it was due to end at the end of december, and he said that we are not going to extend it, so it was not a change in that respect. We welcome now senator pat toomey. As i explain, there was this letter. It, was themake of secretary right in saying we should not extend these programs . Pat secretary mnuchin is 100 in this. As he pointed out, he is simply following through with what is clearly expressed in the statute, what is the intent of congress, and that is these were always meant to be a very temporary set of facilities designed only to allow the private Capital Markets to resume their normal functioning. That happened in march or april. Immediatelyalmost upon the announcement of these facilities. They worked better than i had hoped. As one of the authors in the itm drafting this statute, was absolutely unambiguous that we intended for these facilities to terminate after the crisis passed. Terms ofs, in Financial Market terms and that is what we were addressing that passed a long time ago. Financial markets came back massively with tremendous liquidity, record volumes of corporate debt issuance, tight spreads. These markets have been phenomenal and there is absolutely no need to continue perhaps indefinitely this backup facility. It served its purpose, its time for it to go away. David what do you make of the then . Response the Financial Markets did come back fast, a combined effort with the fed saying we have your back, congress injecting money into the economy. Awaye same time, we went from the shutdown and now we are going into something that is worse across the entire country. Do we need these facilities in our back pocket for the next few months as we face this dramatic upturn in the covid19 sen. Toomey absolutely not. These facilities are not there because of a possibility of an upturn in the pandemic. No question there has been a significant outbreak. Medical and real Public Health issue, but that is not what these facilities are about. They were about enabling the Capital Markets to function again. It got to a point where a borrower could not issue debt, an investor could not sell a bond. There was no liquidity. That is what we were trying to fix, and we fixed it. Today, despite the significant challenges we are dealing with, there is from menace liquidity in the paper market, borrowers, even in Private Banking markets. Surveys of small and mediumsized businesses say the overwhelming majority can access capital. I am not surprised that a central bank would like to keep more powers and tools. [laughter] that doesnt make it right. The statute is clear, secretary mnuchin is following the law and the intent of congress exactly as he should be. David would you anticipate that a Biden Administration may reverse this . Sen. Toomey i dont think they have the Legal Authority to do that. If they were to attempt to do it, it would be a huge mistake. Is it possible that something could happen that would cause Financial Markets to freeze up again in the future . That is always a possibility. The last time it happened, congress demonstrated the andity to turn on a dime pass massive legislation to free up those markets. We had unanimous support for a multi trillion dollar package to rescue the collapsing economy. If we were to get into a bad spot in the future in this regard, the appropriate thing to do would be to go back to congress and say here is why we need to do x, y, z. Understand thei distinction between the Capital Markets and the economy on the other, they are not the same thing. We are seeing some weakness in the recovery, however, and we have various indications probably triggered by the uptake in the coronavirus. We are seeing weakness in the economy. What do we need to do to address that issue . Sen. Toomey i would not overstate that. We are still seeing a tremendous amount of strength, alltime record levels of new home starts , tremendous growth in employment. Nobody thought the Unemployment Rate would be below 7 at the end of october, which is stunning, strong retail sales, consumer Balance Sheets are in good shape, Corporate America has the liquidity it needs. I think there are some things that we could do. Republicans in the senate twice voted almost unanimously for a targeted bill, about 500 billion dollars, so not small, but it was targeted, an extension of the Small Business Lending Program but only for Small Businesses that were adversely affected. It was an extension in a bump up of Unemployment Benefits but not the same scale as before. It would be Liability Protections so that employers of all kinds who are complying with the normal safety protocols would not be subject to fervid lawsuits. Frivolous lawsuits. That passed with virtually every republican senator voting for it. It is our democratic colleagues who block that legislation. Im hoping that Speaker Pelosi is willing to do that on which we agree, and then we can continue to discuss the areas where we disagree. David i would like to change to the transition. I understand President Trump thinks he won the election. As time goes on and more certifications come in, including georgia earlier today, at some point it becomes less likely that he will be in the white house. You said 10 days ago they should start the transition with the eventuality that we will have a President Biden have you seen any movement in that direction, what are they saying to you . Sen. Toomey there is a lot of communication happening. It is not what i think should be happening. There should be a full, conventional transition underway. As you point out, it is very likely joe biden will be the next president of the united states. He is very likely to be certified. That is how it will likely play out. At that point, the transition can come to an end, and it becomes a moot point, but why wouldnt we go ahead and prepare for what looks like the high probability event. David always a pleasure to talk to you, senator pat toomey, republican of the commonwealth of pennsylvania. Coming up, we are talking space with retired astronaut Chris Hadfield. And tonight, tune in for a new studio 1. 0, including an interview with the yelp ceo, and why he thinks big tech should be broken up. This is balance of power on Bloomberg Television and radio. On and radio. David this is balance of power on Bloomberg Television and radio. Im david westin. Speak, and four astronauts are circling the globe in the International Space station just over 250 miles from earth. Mission,erview of the we welcome a veteran of space and the space station itself. Chris hadfield is a retired colonel in the Royal Canadian air force and served as a commander on the International Space station. Give us a sense of what is going on right now 250 miles up there . We have seven people right now living off earth. There are seven residents of the space station right now. Just got there, three americans and the japanese. Russian did a spacewalk the day before yesterday. Experimentsning 200 above the world right now, looking at the universe, understanding weightlessness. We have been living on that space station, at least two people, for the past 20 years. A pretty interesting time in history. The doors to what lies beyond in the future are just opening up. David i believe you were the First Canadian to do a spacewalk, so congratulations on that. Why are they doing it, just to prove that they can do it, or are we accomplishing things . Chris every laboratory across the u. S. Control something. You have a laboratory that controls for growing plants or something. We have a laboratory in orbit that has microgravity. Is no air in the way to look at the universe, and the space station goes around the world every 92 minutes. We have been doing that for 20 years. It is a laboratory with an understanding of the universe and the health of our planet that does not exist anywhere else. The seven astronauts on board, no matter where they are from, they are the laboratory technicians, they are also the repair people, and lab rats. We do some experimentation on our own bodies. It is the First Permanent toehold as a species away from our planet. Is the longerterm plan for the International Space station . You were in charge of it. Chris you mentioned my spacewalks. In my first walk, i hope to been the Russian Space station. The first piece was launched in 1998, 22 years ago. Everything is designed to last about 30 years. So that first piece is reaching the end of its life, but the russians are launching their huge Research Laboratory in the spring, so there are still brandnew pieces coming up to the station. My guess is everything will be ok touch wood for another decade or so. It will continue to serve as our outpost in space until about 2030. Hopefully by then we will have solved some of the lunch and pluck, rocket problems, so that we can start not just living on a space station but living permanently in orbit around the moon and on the surface. That is what this space station is teaching us, and also providing us the Building Blocks to do that. Are doing now, i remember as a kid, when we would go down to cape canaveral, and it was all a federal, nasa endeavor. Now we have the private sector involved. How much has that advanced the rocketry . Chris its a little bit of a Public Perception thing. Mean,ou were a kid i the lunar lander was built by grumman. The shuttle was built by a commercial company, rockwell. Its always been built by commercial companies, it is just how the partnership as a bald over time, giving a little more latitude of design, not telling the company what to design so much as what we want it to do. You rent a car. You dont tell them which car specifically, but you tell them about certain characteristics. Still, it is commercial companies building rockets and spaceships, and nasa either pays for them or rents them, so that nasa can execute the nations will, start using space for the benefit of everybody. David they are reusable rockets now. Back in the days, they fell into the ocean. Chris that is the big change in technology that is changing everything. Any of theyou got on airlines, and every time you landed, bulldozed the airplane into the water and then build a new one to fly back. Your ticket cost would be crazy. That is sort of what we did early on. It was the initial easy solution, but we have come a long way. Technology is a lot better now. What elon musk and others are working on elon musk is the most active Rocket Launcher in the world. More we are going to have with Chris Hadfield coming up in the second hour of balance of power on bloomberg radio. New entry lincolns into the suv market. We speak to the president of ford motor company, joy falotico. This is balance of power on Bloomberg Television and radio. O. David this is balance of power on Bloomberg Television and radio. Im david westin. The Auto Industry comes back from what was a devastating second quarter, lincoln is a particularly bright spot for ford. To pursue that, its introducing a new version of its midsize suv, the nautilus, which president lincoln motor joy falotico explained to us. Y you will see some refinements on the exterior but a lot of dramatic improvements on the interior. We are introducing our brandnew a brandnewwith touchscreen, lots of technology, bringing it up to the dna that we have in our aviator, navigator. David i know when you change the models, its in response to the demand that you are seeing. How does this fit into the suv market overall as well as fords overall plans . Joy this is at the heart of the premium market, a premium medium utility. Very important segment where nautilus plays. We are seeing pretty good demand, especially with our suvs. 8 percent ony up chair this year on and we had our best october in 34 years globally, and its on the back of our suv lineup. David you talk about market share, but how much of your dramatic growth in the second half of the year has been a bounceback from what happened last spring . Bounceback, how much is organic growth Going Forward . Joy certainly the volume was a bounceback in demand from the second half of the year. The share growth is a yearoveryear number, so its a testament to our clients and their receptivity to our newer lineup. Has the pandemic affected lincoln on a production and practical side . We are going into a winter that sums they will be a dark winter because of the coronavirus. How is that affecting your business. Joy we are up year to date. We are cautiously optimistic moving forward. Health and safety of our employees, dealers, clients are paramount. Ofhave brought forward a lot protocols that we used earlier in the year to ensure his safety, with ppe equipment, and we will continue to do that and be vigilant on that. Experience,ith our we have optionalitys for our customers to have pickup and delivery for service, sales delivery, and we even have something we call lincoln showcase, where a customer can virtually view our products. The safety of our clients is really important. David the new nautilus is debuting in china at the same time. Tell us how you are doing there. You had some difficulties, but i think they are coming back for autos. Joy they had a really nice bounceback this year. Premium has been a bright spot. As you mentioned, we debuted the nautilus there yesterday, pleased with the receptivity. We also have the opportunity to receive the suv of the year for our new aviator that we localized earlier this year. Really Strong Performance in china. We have had five consecutive record months there, so really pleased with the china team and performance. David as you bring out the new nautilus, how will you judge success . Joy we expect to see sales growth with the new interior, matching the lineup. Very important vehicle for us. We will continue to monitor the receptivity to the vehicle based on our sales. David a lot of talk these days about electric vehicles, including at ford. When it comes to suvs at lincoln, what are your plans for electric vehicles . Joy you are right, electrification is very important to ford. We have committed over 11 billion in and lester fixation. We started that journey last year with the launch of our aviator grand touring plugin hybrid vehicle. We will be launching in 2021 a sair hybrid plugin vehicle as well. We have developed a fully electric battery vehicle that will be coming out in the future. David that was part of my interview with joy falotico. Coming up, balance of power continues on bloomberg radio. We will be sparking to democratic congressman dwight evans about his letter to nancy pelosi on the next round of stimulus. That is coming up on balance of power on Bloomberg Television and radio. Jonathan from the city of london for our audience worldwide, bloomberg real yield starts right now. We begin with the big issue, the market fighting virus headwinds and vaccine tailwinds. There is a shortterm and longterm narrative. The covert outbreak has dominated the markets all year. We can expect more shutdowns. This is a time to step back. I wouldnt take a lot of risk in fixed income. To me, its about shortening durations. Longerterm, this will be a fading memory. The vaccine is the biggest game changer. Veryl of that demand for safe, secure bonds at the long and has started to abate. The l
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