It is 1 00 p. M. In new york, 6 00 p. M. In london. Im kailey leinz. Welcome to Bloomberg Markets. Here are the top stories we are following. Progress for a vaccine. Clearance requesting for its vaccine in the u. S. And europe today after a new analysis showed it to be highly effective in preventing covid19. We will have the latest. Talksk mentioned, opec have ended today without a deal. The conversation will be picked up tomorrow, but we will explore what it means for the cartel. General motors will not take an initial stake in the electric Vehicle Company nicola, which announced today it will go to one of its electric vehicles, a pickup to be called the badger. Lets get a quick check on the markets. We are on the last trading day of the best month for Global Equities since november, but we look set to end the month of november on a softer note. The s p 500 right now down 0. 6 . It was the fourth consecutive monday of positive vaccine data, but the good news not having the effect it d
Global news 24 hours a day on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in over 120 countries. I am Mark Crumpton. This is bloomberg. I am vonnie quinn. Welcome to Bloomberg Markets here are the top stories we are following. Covid vaccine in the ether again. Pfizer says a final analysis of the chemical trials data shows its vaccine was 95 effective. Free han the 90 previously. Michael stubblefield, ceo of of and later we will speak to the ceo of intact financial. It would be the biggest acquisition of a u. K. Listed company this year. A quick check of the markets. For the most part, not doing much. The s p 500 unchained. The 10 year yield under 88 basis points. Weakk dollar index a dollar index. We have a slightly smaller dollar. Investors keeping an eye on vaccine development. Tor provides materials for vaccine candidates. The president and ceo Michael Stubblefield joins us for more. Michael, you provide Raw Materials for most of these vaccines
So that is pretty evenly split, actually. Theres certainly quite a lot of recognition that Central Banks need to think about new toolkits. We are going to go to some questions now, but if you want. O use the platform to submit i think larry gave an excellent description of what the core problem is that the developed world faces, that there is a glut of saving and a , and it of investment really means that we have to have fiscal policy, structural policy, and things other than. Ust relying on Central Banks i think Central Banks need to do what can come about they can. Adopting a system called flexible average inflation targeting, i think this is an appropriate change. Somewhat improve the scope of Monetary Policy to show that shortterm Interest Rates are often constrained by the effect of lower bound. I think it is helpful in preventing a cycle of falling inflation feeding falling inflation expectations, but i strongly believe Central Banks need to be independent and need to do everythi
Credit spreads really came in a lot. Basically, this tugofwar. Do you look at nearterm challenges or 2021 . Jonathan looking forward to this conversation. Gershon distenfeld is with us. Good practice social distancing. You can take it off for the interview. Great to catch up. The shortterm risk versus the longterm risk. That is a part of the conversation at the moment. One thing that you said that is important, you cannot draw a hard distinction between the shortterm and longterm. Shortterm can actually shape the long term. Can you walk me through your thinking at the moment . Gershon absolutely. The mask is not what you think. It is a plea for you to come home. Know howuse we dont to run elections here doesnt mean that you cannot come home. You may have voted for brexit over there, but you dont really know what you are doing over there. Jonathan i dont think you want me to weigh in on the election right now. You dont need the view from london. I will come home soon. Can we start with
Is the security of america at risk . And covid continues to peek across the country, once again shutting new york city Public Schools down. With vaccines on the way but still not quite ready, we speak to 23andme ceo Anne Wojcicki. Could their research on genes and covid give us more clues on how to fight it faster . Dropping asstocks fresh resections put in place to limit the spread of covid19 overshadowed positive news. About vaccine develop at Abigail Doolittle has more. Generally the markets were quieter today, but then it fell off late in the day. Abigail truly a sleeper for much of the day. Cyclical rotation trying to take over. As new york city headlines crossed on top of the mta news around the subway. Earlier today, two negative headlines. Of course the second one being that schools are shutting tomorrow until at least after thanksgiving on the 3 seven day rolling Positivity Rate here in new york city, at least according to the mayors office. Looks like the governor may have ha