Are right about the Economic Data. This is the point where it is beginning to click in nation to nation, and we are seeing some grim data. I look at the eto screen for the United States later this week, and those are numbers. We l points that where that we have never seen before. Two year yield continues to grind this morning. Francine we also look at renminbi, given what President Trump said about chinese tariffs yesterday. Lets get to first word news with viviana hurtado. Viviana as many as 100,000 americans could die from the new coronavirus, this death toll update coming from donald trump. He said he hopes deaths would total less than 60,000. So far more than 67,000 americans have died. President trump accuses china of trying to cover up the coronavirus outbreak. He promises the u. S. Government would release a conclusive report on the pandemics chinese origins. He also says imposing tariffs on chinese imports would the ultimate punishment and an explosive Associated Press report s
For jobs that coming up friday, it is stunning deliver depression across the developed countries. The labor depression across the developed countries. Francine there is this raging debate we have been trying to focus on bloomberg surveillance for two weeks, inflation or deflation. I think the one thing we need to try and figure out is when does job creation comeback . Will we ever come back to the to what we had even 12 months ago or will a lot of the jobs be lost and therefore you need some kind of schemes to retrain people, to put them in other jobs . How and what the legacy of this covid19 illness will be for how the economy changes is critical in trying to make sure people get back to work. Tom you really saw the tension over the weekend. Prime minister johnson dealing with the United Kingdom and that idea of a locked, certainly, we are that last night from the president at the lincoln memorial. Here is viviana hurtado. Viviana we begin with president donald trump, is many as 100,0
Headline out of china, also a lot of focus on the dismal earnings we have had from Certain Companies and dismal economic data. China considering dropping the numerical gdp growth target for 2020. This is like a company saying it is difficult to forecast so we will not tell you. It happens in the corporate world and not usually with the country, certainly as big as china. I dont know if this will have implications for renminbi. The chief executive of alianza said we are underestimating the impact this will have on the yuan. Tom a shout out to Carl Weinberg who aggressively stated a month ago, forecast your economics as possible. It is possible we need first word news in new york city. Ritika President Trump is ramping up his push to reopen the country, saying americans should return to their everyday lives even if that leads to more sickness and death. He spoke in phoenix and may disband the white house tax form stearate tax force steering the government response to the outbreak. The e.
You have to match it with the economic reality. So we talk about testing people that could be immune, testing people who have recovered to try to figure out what the next phase economically could be. Tom the next phase, you see it in the markets today, francine. We have some important interviews on surveillance today to keep you updated on the virology. As london joins the lockdown, lockdowns appear at the margin to be working. There are terrific charts out there. What is important this tuesday is we are beginning to get a math, a Cardinal Rule in statistics that you need 30 data points, 30 data points, 30 days of information, if you will, to really get a sense of what a trend is. We are right at the cusp right now on the virus. You can see the trend of italy, terrible, but may be Getting Better. Of new york and the united states, really problematic. What i was i am italian, and i have been trying to figure out for a long time what people have been saying about flattening the curve, an
I am Francine Lacqua in london. These are your markets, doing a little bit great after the week we had last week. The ftse gaining some 2. 2 . A risk on bit more of move. I would caution everyone that these are on thoughts that the central bank would step in, and it is not because of threats that the coronavirus is getting any better. Lets get to the bloomberg first word news in new york city. Number of deaths of coronavirus around the world is over 3000. New york city has reported its quarantined to her manhattan apartment after contracting the virus and iran. Whennor cuomo says it was not if the virus made its way to new york. Aking a hit in february after spread of the coronavirus. Pmi plunged to a record low of 40. 3. The official reading also reached a record low of 35. 7. Chinas economy is gradually returning to work. 70 of at 60 to capacity last week up from about 50 two weeks ago. In the u. S. , former Vice President joe biden has won the South Carolina primary. It puts him clo