Market. In the we want to begin in washington, where the u. S. Passed a record 2. 2 trillion economic rescue package. The house will vote potentially on friday. Going this is kevin cirilli. Walk us through some of the highlights here. Kevin shortly before midnight, the senate, in a resounding 960 trillionsed the 2 economic stimulus bill. That puts pressure on the house of representatives to get this done quickly. Theres been some comments from farleft progressives and far right republicans that they may have some issues with this version of the bill. I do not it is about that being enough to significantly stop this from being passed, based upon my reporting. I can tell you that the likely vote will come friday, and President Trump has said he is going to sign this virtually immediately once it lands on his desk. Alix thanks so much. As i mentioned earlier, europe really stepping up its effort to deal with the fallout from the coronavirus. The latest is the ecb started buying bonds, but
Reasonable as we have to store all this. Saying 10unbelievable decimation of tt commodity right now. Guy absolutely. You bring up the btp market. There is a lot of moving parts around the btp market today. Ly we saw yield spike yields spike to the upside. There was speculation the ecb was in the market. The big story has been the european governments considering using the european stability mechanism to extend credit lines to countries including almost certainly italy. There is an issue with this. Activationesm usually comes with some degree of conditionality. Clear theyaking it would be unacceptable to have any conditionality around it. Prelude toement is a the omt from the ecb, which would be the big bazooka from the ecb. Holly raines has been talking. His afternoon there is potentially more to come. Huge moves in btps. The pound is trading your 1985 lows. The bloomberg dollar index is getting very close to an alltime record high. Lets talk about what is happening specifically in the
And of austerity. The u. K. Prepares its biggest dose of stimulus in decades. It really is said to plan doublings doubling stimulus to combat the outbreak. President trump appears to a coronavirus conference. He was expected to announce a major stimulus package that he hyped himself the day before. And, taking a hit. Couldsays the coronavirus knock First Quarter quarter china revenue by one billion euros. We will speak to the ceo in just over a half an hour. Youve got some breaking news down there on the green from the bank of england. Anna absolutely, breaking news. Itsbank of england reduces bank rate. The bank of bank rates by 50 basis points. 20. 25 . A surprise rate cut from the bank of england. Just as we saw a surprise rate cut from the fed. Here we are seeing me seeing a great deal of cooperation theeen the fiscal side of monetary side in the u. K. Investments are waiting for an update, waiting for the government to respond to the coronavirus. We are also hearing about a Moneta
As yet another central bank initiates an emergency rate cut in the face of a Global Economic slow down. Its wednesday, march 11, 2020 and Worldwide Exchange beginning right now. Good morning and welcome im Courtney Reagan in this morning for Brian Sullivan with me this hour aaron gibbs. Were going to kick off this morning with a wednesday whips off for wall street. Stock futures look to erase the majority of yesterdays gains. Right now we are indicated for a lower in the Dow Jones Industrial average, futures pointing to lower open of 482 points, s p500 down by 58 and nasdaq off by 161. Lets check out the action in the bond market. This of course has been something that weve really been watching before we go there, were going to watch the dow futures for you again, down 1. 4 in the early going. In the bond market, the yield on the ten year is above 0. 7 , 0. 741 look at the 30 year, above 1, but still 1. 2 those are levels we havent seen in so, so long all of this comes after the dow sa
Professionals, carers, Public Health officials, and volunteers across the country, and the exceptional efforts of the sco abroad. U. K. Citizens the bank of englands role is to help households manage through an economic shock that could prove large and sharp, but temporary. That is why the bank is announcing a comprehensive timely package of measures to help u. K. Households and measures bridge across the economic disruption caused by covid19. These measures will keep firms in business and people in jobs, and they will prevent a temporary disruption from causing longer lasting economic harm. Maximizing our response requires ordination across all of the banks coordinating committees. That is why all policy committees are simultaneously theng today, maximizing effectiveness of our response requires working in concert with treasury. Ys that is why we are acting on budget day, when the chancellor will announce a series of government initiatives to support u. K. Households and businesses. A