Im Francine Lacqua in london. European stocks edging higher. U. S. Futures pinning hopes on the american stimulus package. The dollar is slipping. I am also looking at treasuries pretty much steady. Texas crude oil steady at 40 a barrel. Lets get to the first word news. In the u. S. House democrats have started drafting a new stim in this proposal of roughly 2. 4 trillion. The plan could get passed by the house next week. While smaller than the package in may, it is larger than what Senate Republicans say they can accept. President trump has excepted he will go as high as 1. 5 trillion. Your Governor Andrew Cuomo says he does not trust the Trump Administration over a vaccine. He vows the state will independently review anything authorized by the federal government. Polls show a growing mistrust over a vaccine. New york may require travelers from europe to abide by its 14 day quarantine rule. In the u. K. , rebel numbers of the conservative party are threatening to seize the power of pa
Equity prices higher, and the linkage to this economy and how bad it is has never been wider apart. Futures higher this morning. Interest rates are up as well. Lower at thelds front end, and a big bid for what is happening in germany. We will talk about that a little bit later in the program. Lisa, it is a rally across the continent and europe, too. Lisa particularly in italy, where you see yields come in further than in germany. Tomorrow, the European Commission will officially propose that 500 alien euro plan of a rescue financing. Very interesting to see what type of back and concessions have been put in there. Also, thursday, the National Peoples congress of china will be voting on that Controversial National security law for hong kong. Also on thursday, the initial u. S. Jobless claims. I am watching how much we see that number come down, how much these jobs become permanent losses at a time of reopening we are seeing right now. Jonathan more ugly data expected through the week, a
Good morning and welcome to bloomberg surveillance. I am Francine Lacqua in london. We discuss everything with monetary and fiscal policy. Look at. In london, we your markets. This is what they are telling us. We are getting data out of the euro area that manufacturing is a bit better than expected. 38 that was of forecast. Services pmi for the month of may for the euro area, a touch better than expected. Overall, i am looking at what the risk in china means for treasuries. They are advancing with the dollar. Lets get straight to the bloomberg first word news in new york city. Tensions are boiling over between britains chief negotiator, david frost, and his part, michel barnier. Key summit looks certain to expose key divisions between the two sides. The Spanish Parliament voted to extend its state of emergency by two weeks. Plan of a onemonth extension did not have the backing to pass the measure. Second mostes extensive outbreak, over 230,000 cases and 28,000 deaths. The Federal Reser
Good evening, everyone. This is bloomberg surveillance. I am Francine Lacqua working from home. The focus on the World Health Organization, also on the easing of lockdown and oil. After that historic agreement on sunday between opecplus, now also involving europe, we have report. They say the oil storage filling up demand is dropping. That exceeds opec cuts. They are expecting oil demand to fall by a record 9. 3 billion Barrels Per Day year on year in 2020. Brent extending declines. The concern that a lot of markets are pursue Market Participants had is that if opec is cutting production, it also has to match demand. This is what the iea is saying. That demanded drop is exceeding opecplus cuts. It seems that despite the cuts, the iea is still expecting a glut or surplus. Lets get straight to the bloomberg first word news. Here is viviana hurtado. We begin with president donald trump. He is suspending u. S. Funding for the World Health Organization and reviewing its response to the coro
To work out what the future relationship looks like between the United Kingdom and European Union. Tom we welcome all of you. Good morning on Bloomberg Radio in boston, new york, and washington. Very Early Morning in san francisco. I would suggest to our sirius xm audience, as well as all worldwide tv, what is important in this changed United Kingdom, it can actually drift over to the 2020 election. Jonathan i think you are wondering, imagine a republican president winning massachusetts, a republican president winning california. That is what happened basically, with the conservatives taking out. The red wall, so to speak. They made some big wins. Tom much to speak up today, but right now on television and radio, we need to go to 10 downing street and our nejra cehic. We just saw that door on 10 downing street open as Boris Johnson came back from his meeting with the queen. He entered 10 downing street, he was greeted with cheers from his staff inside. It was a landslide victory for hi