A major expansion in coronavirus testing the u. K. Government extends knock down restrictions for at least 3 more weeks and Brazils Health minister is fired after a dispute with president abbas an hour over the call in a virus response. Chinas economy has suffered its shopping fall since it opened up to the world in the 1970 s. In the aftermath of the coronavirus pandemic Gross Domestic Product g. D. P. In the 1st quarter promenade by 6. 8 percent compared to a year earlier its the 1st time is contracted in decades as speak to our correspondent katrina youre in beijing so a story fall katrina but not a surprise entirely. No i mean outbreak prevention measures saw chinas economy at a standstill for almost 2 months Factory Production was halted businesses were closed and hundreds of millions of people were stuck indoors and the result is this full of 6. 8 percent historic as youve just said and also the 1st disruption to chinas an interrupted worth for almost half a century and we got so
Careful step at the time donald trump announces guidelines for reopening the u. S. Economy but democrats say they are vague and inconsistent and want a major expansion in coronavirus Testing Process harassed and threatened Health Workers in chile say theyre facing social isolation because a virus fiennes. Thank you very much for joining us chinas economy has suffered its shop is full since it opened up to the world in the 1970 s. In the wake of the coronavirus pandemic Gross Domestic Product g. D. P. In the 1st quarter prompted by 6. 8 percent compared to a year earlier its the 1st time its contracted in decades that speaks to katrina you in beijing for us some. Really historic brunch there but not entirely surprising katrina. No not surprising at all i mean this outbreak saw chinas economy come to a standstill for almost 2 months thats no Factory Production many businesses were closed and hundreds of millions of people were forced indoors and thats led to this historic fall of negativ
And the strongest result in history amid the outbreak. Manus warm welcome to the show. We are deep in earnings season novell. Acola to the First Quarter comes in like this. 2. 06 billion. That is a beat. On the operating income side, 214 million dollars. Significants have a impact in the second quarter. That is what we already know. First Quarter Results show a 31 uplift in profitability. Nobel. Akzo you have the input side and the output side. Inputs are going to trickle down. What do you have . Good morning. Ericsson saying there is no reason to change its target for 2020 and 2022. Thats one of the lines from erickson. ,t sees the 2020 Market Growth lower growth in the second quarter. In terms of the First Quarter, 49. 8 billion Swedish Krona, a miss on the estimate of 51. 94, but there was some expectation the virus boost for more Telecom Equipment might materialize later. First quarter growth margin at 14. 4 . First quarter adjusted estimating profit at four point 6 billion Swedish
Less normally. Lets start there, jim, in terms of the market overall. I have a lot of insight this morning to share on the credit markets where i tend to be focused of late. Like to come to you. When you see a rally, the likes of which we may at the open this morning, what are you thinking what i think about when i see this, the market got oversold, people last night went home thinking theres no possibility of any sort of deal. Without a deal all you have is the fed making sure theres liquidity but nothing in the hands of the people. If you dont get money in the hands of people, people will look at the landscape and say its really just falling apart something has to get done. Now theres an expectation that something will get done. If we dont get something done today with the senate, youll give up this whole rally youre banking on the politics getting together for something, otherwise this rally will be comical and you will wish you never bought in. Well be able to offer hopefully peopl
Maria and we kick it off with Global Markets lets taken a look at european indices a selloff there as well. S p 200 down 250 points right now and paris down 165 and dax index in germany lower by 362. The European Union announcing the closing of its borders for 30 days to slow spread of coronavirus. In asia is overnight markets started with early rally on heels of wall street rally but then reverse course to finish in the red. Take a look at these numbers you have all of the major down better than 4 as you can see, the nikkei and japan and shanghai and composite 1. 8 and then theres oil. Oil prices tumbling touches levels not seen since 2003. As price of oil between russia and saudi arabia wages on demand is dropping oil prices right now at 25. 40 a barrel havent seen those numbs in quite some time. Check treasuries and yields right now on tenure treasury rising this morning once again, it is back above 1 . Tenure now sitting at 1. 8 that is up ten and a half basis points. The coronavir