Huawei. The s p 500 down 0. 9 . Dire Economic Data followed by confidencey good data, according to the Michigan Consumer sentiment data. But we are checking the innards of those data to see what is going on there. The 10 year yield at 63 basis 28. 53, up crude at a good 3. 5 today. Lets get to europe. Germany plunging into recession, gdp falling 2. 2 in the first quarter. Bloomberg has been speaking with executives of German Companies about the pressures caused by the pandemic. Have a listen. The times are turbulent and they are complicated. The real question everyone is asking, how quick will be recovery come . The uncertainty remains. There is still very much uncertainty, so from that point of view, we remain kind of cautious. I think it is too early to call an end to the globalized world. We assume a ushaped in area into year end. We are presuming recovery on the one side, which is important. We dont know exactly how the restart and the unraveling of the current lockdowns across the
United kingdom, the issuance of a gilt with a negative rate. Francine we have been debating negative rate for a couple of weeks since Andrew Bailey said they cannot rule it out. Is at theates forefront of the next debate. , they say thise is a terrible idea when it comes to pound and then you have a brexit dynamic. Negotiations are not going well. Andrew bailey testifying in about three hours and a half from now. Tom adrian paul from Goldman Sachs publishing moment ago, and asmakes a sharp Distinction Service sector disinflation. In the united states, we see goods deflation and disinflation for some time but a 3 persistent Service Sector their inflation in the united states, adrian paul looking at the information saying maybe not. Service sector deflation is here. Join us fory to moments on the conundrum of small and mid cap. News. Ur first word ritika President Trump and republican progression a leaders congressional leaders are Standing Firm against another round of stimulus. The pre
Time now for our top market moving news from our new york team. Joining me Bloomberg Opinion columnist brooke sutherland. What were some of your Key Takeaways . Brooke i think what is interesting is target talks about First Quarter comparable sales being up, but nearly all of that was from digital. Digital comparable sales were 141 in the quarter. Those sales come at a cost. They are more expensive. The natural supply chain dynamics of delivering products to homes rather than having them purchased instore is more expensive for target, so you are seeing that market squeeze. Clothes,rent buying where target gets more of a higher profit margin. They were buying food any essentials. Is this a structural shift . Are people getting so used to ordering online that they will continue to order these items . They did also callout market share gains, which is key. Given Amazon Logistics troubles, are you going to be seeing customers rediscovering target and walmart, some of these longerlasting st
At 8 30 a. M. Eastern. Major retailer reportedly ready to file for bankruptcy. Commerce secretary wilbur ross will join me in 30minutes time. Markets look like this, fractional gain at the start of trading, dow industrials up 13 points and s p half a point and s p nasdaq up in 22. Dow trails finishing up 377 points, the nasdaq was up 32. Headed for third consecutive week of declines. Controversy is growing in general flynn case. Calling for fbi report that officials claim have vanished. Mornings with maria live. Global markets look higher across the board. Cac quarante is up 34 and dax index in germany up 179. Bank of england governor Andrew Bailey says negative rates are not being considered this following comment of jay powell this week and Germany Economy shrinking 2. 2 in the First Quarter. In asia markets were mixed. More signs of slowdown in china overnight. Retail sales there for the month of april were out, they were down 7 and a half percent. Then there was industrial output s
I wonder if you could go back to that and mention why it is a scenario rather than a forecast, is not really a worstcase or how much of a worstcase is it. And if we are really looking to learn and to manage these scenarios, do we not need to be more robust about saying what the worst case actually is . First, the question of a scenario versus a forecast, the , the point applies to both committees. Forecastw, one makes a when one can take a view of the probability distribution of district outcomes around that forecast. Forecastmal to make a and say this is our best collective judgment, and then to publish a range of outcomes around that, and then for the financial policy committee, to look at the less likely outcomes , whereas the Monetary Policy except the central one. I think the judgment of both committees was that this pandemic, the weight is playing to the World Economy and the u. K. Economy, and the Public Health measures to contain it through time and the chance of a second or th