We will be speaking to. When we could start to get a vaccine. We hear there are some in clinical trials, wondering if perhaps that is the next hope to look forward to. Francine from the conversations i have had, and they are very preliminary, it looks like a vaccine will be a couple years away unless they can speeded up. But there seemed to be three drugs that are working and fighting it off once you catch the coronavirus. We will delve deeper and see if it will make or break drug companies. Lets get to first word news with viviana hurtado. Viviana we begin with President Trump, who did a 180 on the coronavirus p he now says it is so bad, it may drive the economy into recession. He tried the president spent weeks minimizing the impact, which led state and local into the initiative to take a response. The republicancontrolled chamber will take up a house bill. It includes paid sick leave and now to the french president , Emmanuel Macron, who told the french people, we are at war. The fr
Will it make its way back to zero . Seems to be part of the conversation building in markets. Barrelumped above 65 a as supply disruptions in iraq brought concern to geoPolitical Risk. With more is Annmarie Hordern. Detention we are seeing in libya and iraq come very different in nature. What is the impact of these on oil supplies . Annmarie they are both geoPolitical Risks to the oil supply. In libya, the government says we could go to 72,000 barrels a day. This has to do with the eastern military commander. He has a blockade now on the port, so actual supply is not disrupted. The market may be shrugging off a little bit because in days or hours, that blockade could be lifted. Iraq, while it is a minor disruption, which is producing more than 4 Million Barrels a day, it opens up a window of worry. Just last thursday, the iea says iraq remains very vulnerable. It is more about could the supply threatened become much bigger. Anna they are overproducing their opec target. Annmarie this c
Also taking a look here at the curve as well as bonds like i mentioned, 194 is where we sit on the 10year. Time for Global Exchange where we bring you market moving news from beijing to new delhi to washington and los angeles. Our bloomberg voices on the ground with this mornings top stories. We begin in asia where the chinese president is in macau to celebrate the return to chinese rule against the backdrop of unrest in china and calling for macau to diversify its economy. With the return of hong kong and macau to the moreland, it is completely up to china to handle the affairs of the two special administrative regions. There is no need for any external force to interfere. Alxy joining me is tom mckenzie the china open coanchor. What did you learn by the speech from mr. Xi . Tom he was there to mark the 20th anniversary of the handover and swearing in of the chief executive. Macau as a reminder is the worlds biggest gambling hub, bigger than vegas with a monopoly on the industry in ch
0year, we probably have to be looking at a global recession. We are going to test 1 . A lot of things would have to go incredibly wrong to get the 1 . You have to have a recession to get there. The u. S. Economy could go to recession. Unless the market begins to price an additional cuts, the 10 year at most will drop down to the 160 range. The fed will have to ease again. The fed is going nowhere. If there is any sort of weakness in the data, you will see an outsized rally in bonds. Jonathan joining me, kathy jones, george bory, and in chicago, jim bianco. Jim, lets begin with you, looking out to 2020, it seems the consensus view is for rates they are or go lower. Where you come down in that debate right now . Jim i think thats probably right. Rates will probably drift lower. Thats been the story the last 10 years. Weve had no inflation, we are in a record expansion, we cannot generate any inflation right now, rates are down 75 basis on ts this year, at least the 10year yield. The path
They are weighing new investigations. A record turnout in hong kong as prodemocracy looks set for big gains. It is the first opportunity for hong kongers to vote after months and months of violent protests. Paul lets get you across some breaking news on the bloomberg terminal. Carl icahn is said to seek control of occidentals board. He plans to nominate 10 directors in an attempt to seize control of the u. S. Oil and gas producer. This is according to people familiar with the matter. Is said to be looking to seek control of occidentals board. We will bring you more details on that as we get them. For now, trading has begun here in australia. Lets take a look at how we are tracking. Currently higher by just over. 1 . We have a staggered open here in australia. Stocks coming online in alphabetical order. We are currently in the as. The one we are really looking forward to is westpac in the ws. This packet slipping about 7 in the last week on the back of this Money Laundering scandal. 4 o