Ready and waiting. Jerome powell says the fed is willing to use all weapons to combat the coronavirus downturn. Philip lane says the ecb is prepared to boost bond buying. Andrew bailey testifies in front of lawmakers today. A lot of centralbank action. Global coronavirus cases near 5 million, as one report throws cold water on modernas vaccine testing. That is what drove stocks lower yesterday and now we see futures down here, up in the u. S. And asia, say mixed picture. J. P. Morgan joins a Goldman Sachs in saying that further quantitative easing is needed to cap bond yields. The u. S. Is so strong a billion dollars of 20 year treasuries today and it looks like a lot more supply is getting mopped up by the central bank. An hour away from the start of cash equity trading in europe. Take a look at the picture here. Arrowslooking at all red in terms of futures, euro stoxx, ftse futures and dax futures are down. If you take a look at the u. S. Futures picture after the downturn yesterday,
Lochas joins us. How are you . Im great. Kristen, thank you, its great to be with you. Back in january you guys were looking at a 222 billion state budget with a 6 billion surplus and a 20 billion rainy fund. Now its not just raining, its pouring, so were looking at that 54 billion deficit that Governor Newsom has unveiled. Lets be honest here, who is going to not feel the pain . You know, kristen, i think if were going to be frank, and i dont think it will surprise anybody watching, but a massive event like this with potentially 18 unemployment, 4. 5 Million People in california have now filed for unemployment with stores being closed, restaurants being closed, nobody being able to work unless they can work at home. The impacts have already been felt, and they are going to continue to be felt. Is to in addition to that, on top of that, these pretty significant, really historic changes and cuts to the state budget from just a couple of weeks ago when we were realizing the benefits of a
Launching another attack on tripoli the libyan warlord after says his forces will stop fighting during the holy month of ramadan. Levon on sunday will bank under attack again during another nights of protests across several cities. Welcome to the Program Still early days in the worldwide recession brought about by the coronavirus pandemic but we do have a better sense of the damage it is doing the u. S. Economy the Worlds Largest a scene a decade of growth wiped out in just 3 months shrinking by almost 5 percent the u. S. Plane maker boeing has reported 1st quarter losses of more than 600000000. 00 over the same period its main european rival airbus losing 515000000. 00 and the e. U. s biggest economy just. Many forecasting its worst year since the end of world war 2 well begin with the u. S. We have this report from she have a tendency. The 4. 8 percent decline for g. D. P. Between january and march represents the largest decline since the 2008 recession Consumer Spending which accoun
The bloomberg terminal back to work. Italy starts seeing its lockdown ease, france follow suit. Boris johnson returns to his post today. Adidas revenue slumps 19 in the First Quarter, but bayer catches oost with adjusted epic. Ebita. Surprise. Ish Deutsche Bank says that expects to post a profit for the First Quarter, but as it is unlikely to meet its leverage ratio in 2020. We are just under an hour away from the start of cash equity trading in europe. Let us take a look at futures as they trade across europe this morning. Looking at gains on futures of 2. 3 for the euro stoxx 50 bluechip european benchmark index. Ftse futures up 1. 5 . They have risen a full percent in the last hour. Dax futures are also up. In terms of the u. S. We see 1 gains across the major equity indexes in terms of futures. S p futures, dow jones, and nasdaq futures. Let us get the bloomberg first word news. In place a plan to start easing lockdown measures on may 4. Manufacturing and construction set to restar
Tripoli the libyan warlord relief after says his forces will stop fighting during the holy month of ramadan. Also ahead lebannon central bank under attack again during another night of protests across several cities. This is still early days in the worldwide recession brought about by the coronavirus pandemic but we do have a better sense of the damage it is causing the u. S. Economy the worlds biggest has seen a decade of growth wipes out in 3 months shrinking by almost 5 percent the u. S. Plane maker boeing has reported 1st quarter losses of more than 600000000. 00 over the same period as european rival air past lost 550000000 and the e. U. s biggest economy germany is forecasting its worst year since the end of world war 2 well begin with the United States we have this report from she have a tendency. The 4. 8 percent decline for g. D. P. Between. January and march represents the largest decline since the 2008 recession Consumer Spending which accounts for 70 percent of g. D. P. Dro