Zero, in an attempt to save the u. S. Economy from coronavirus fallout. But the markets are not impressed. Yields fall off a cliff and futures trade limit down. An historic slump in east asia. The Economic Impact of the virus is laid bare by the latest data from china. Retail sales, fixed investment, and industrial al output all plunge. And europe widens its lockdown. Cases across the continent surge as the government shuts down the borders in europe. One aviation consultant says the new no travel norm threatens to bankrupt most airlines by may. We are getting headlines out now from Fiat Chrysler, saying it is going to halt its facility, shut down factories in syria, italy, and poland. They said those factories will probably close this month. We already had headlines from ferrari saying they would shut down production. And maseratiysler, will suspend all production in europe. This is in response to the spread of the coronavirus. It is important to keep social distancing when you are wo
Good morning and welcome to daybreak australia. Im paul allen. In about im annabelle. Cutting down to asias major market opens. Shery the top stories this hour, investors way mixed corporate results. Microsoft jumping up your First Quarter Sales Top Estimates while alphabet sinks as cloud avenue paul chinese stalks, lawmakers raise the deficit ratio as xi jinping makes his first visit to the central bank. Shery china removes the defense minister ending speculation over his status after disappearing from public view. Take a look at how u. S. Futures are coming online. Downside after stocks rebounded ending the longest slide in 2023. Corporate earnings and really a little bit of a push up because of forecasts from verizon and ge in a busy week, 15 trillion dollars worth of companies reporting. Treasuries were mixed. 10 year yield edging higher following intense volatility on monday. The bloomberg dollar index rising for the first time in four sessions, u. S. Business activity picked up i
The last time in early 2019 saw a month of widespread disruption to the Worlds Largest economy. Erin delmore reports from new york the clock is ticking on capitol hill. The democrat led senate and the republican led house will need to agree on a deal to fund the federal government past september 30th. Right now, the senate has bipartisan support on a stopgap bill that would extend funding until november 17th. But House Republicans have rejected it. Theyre fighting over Government Spending levels with hard line conservatives calling for deeper cuts and tying any Government Funding Bill to the ongoing issue of immigration and security at the us s southern border. House speaker Kevin Mccarthy has a handful of holdouts in his Republican Caucus who have said theyll oppose any short term funding bill. Several are threatening to oust mccarthy from his post if he doesnt meet their demands. Any shutdown would impact hundreds of thousands of federal workers, many of whom would be out of work wit
Is heavy regulation the risk for 2018 . Retail sales and production rise in the worlds thirdlargest economy. Lets talk about the markets. Lets figure out what is going on. This is the wei screen. That is what is happening around the story on the london market versus other markets. Right now, the london market looks like it will open a little bit more positively. Earlier it looks like it would have a more negative start but that seems to be reversing. The ibex in the ftse look like they will be down around. 3 of 1 and the italian bond auction. 50 down. X and futures are down pointing to a positive start. The lackluster session yesterday. Lets talk you around the gmm, give you a sense of what is going on. We talked about the data out of japan, that is affecting the markets. We have seen the yen trading up by. 5 of 1 . The nikkei is down by. 51 . Roduction data was strong , numbers are bouncing back. How significant is this data is the question i am asking. The bloomberg dollar index cont
You look at yen and you realize this is a haven. Do you think of government it is theuroda . Tom litmus paper of the morning. Later on surveillance, maybe that is the entity of the day. It is a Central Bank War between the sweden and mario draghi as we begin a mulch was thursday. Francine there are very different assets to that. What do we know about negative rates in the impact . Tom exactly. Francine s get lets get to bloomberg first word news with sunny. Russia rejects the argument consensus s are are insensitive. John kerry is starting to get trying to get the stalled meets with other foreign u. S. Leavesd moscow once enough time for forces to crush monarch groups. The biggest u. K. Lobby in the u. K. , the uks economy could be thrown off track a referendum on whether to stay in the european union. The cbi cut its forecast by 20 . By. 3 . The last four armed occupy us say they will turn themselves in today. The fbi seems to be closing in last night. That led to a panicked phone con