Pandemic models have projected, Robert Redfield saying that americans have likely brought down the number of deaths. Surgeon general today, sharing in some of his optimism. I feel a lot more optimistic, because im seeing mitigation work. I believe well come in under the projection as long as we can continue to do our part for 30 days, staying home, avoiding unnecessary travel, not gathering in large groups. Lou today the president made it clear he and his administration are committed to taking unprecedented acted to rescue small american businesses and to save millions of american jobs while sustaining the economy. The Small Business administration extending 225,000 guaranteed loans, amounts to 70 billion so far. Treasury secretary Steven Mnuchin will request another 250 billion from congress that will be added to the fund this week, President Trump hints cell notee long before this country is back at work. The greatest economy in history, and anyone has had, one day, they say you have
Singapore and malaysia doing pretty decent. Aligned coming from apple daily. Hong kong has found a third a gym. Irus links to if my memory serves me correct, this is the paris gym. It is slowly making its way into the second week. This,s talk more about italy has had more people died than any other nation including china. Stephen. Bring in he is doing his best to keep abreast of all that is going on. We heard a lot of headlines. What has been announced in california . Has basicallyr ordered everyone to stay home. They want to control the outbreak and the governor actually saying that the outbreak and infections could of thepwards of 56 population of california. Last year they had nearly 40 million residents, 20 million infections is what the governor is saying. We had a separate order with the mayor telling people to stay home. Heels of san the francisco and the bay area being on lockdown, so it looks like a lot of the local governments and federal governments are taking this much more
House considering Financial Relief for workers and businesses impacted by the virus. This is what the president said yesterday. We are going to be asking tomorrow, were seeing the senate, well be meeting with house republicans, mitch mcconnell, everybody, and discussing a possible payroll tax cut or relief, substantial relief. Very substantial relief. Thats a big number. Were going to be talking about hourly wage earners getting help, so that they can be in a position where theyre not going to miss a paycheck all right jim, we have a presser at 5 30, but right now dont expect specific proposals i think theyre mulling over some things. Theyll give direct support to workers, which is fabulous a lot of workers live hand to mouth. Theyre coming to work even though she shouldnt because theyre sick and this is a great holdover Small Business loans, they can expand that greatly. We have a lot of money coming into the treasury. They can waive the interest and penalties for people who file exte
We are seeing in china mobile to the Global Supply chain. Pmi will continue falling. It will be a big hit to china, hong kong, maybe all of asia. The bond market is saying something is wrong. Fixed income yields keep falling. Yields are incredibly low. Are pricing in structural stagnation, recession, or deflation. Negative yields overseas and the relative attractiveness of the treasury. Joining me around the table in new york, priya misra, vishwanath tirupattur, and from minneapolis, Tony Rodriguez. We will talk about the data and then move into the treasury market. It is really quite messy and difficult to get your hands around. But todays data is the only data point where we can say the u. S. May be backed up by the coronavirus. You look at price action across asset classes, it looks like the treasury market is running with his weakness in growth theme. Whether you look at credit or equities, they all seem much more complacent. What is the story . Is the treasury market too pessimist
Hoping to get a recovery after drop that we had since december. A s flip the board and have look at your individual benchmarks as well. Reported, a bit of a surprise when it comes to recovery broadbased as you can see across the markets there as well. And flip things along change things, have a look at your currency markets there, the second one is perhaps one of the measures, if you will, have u to be able to say we properly priced in risk remium on the iran story and has it been priced out. You see the second dollar, not retracing all the way back. Quick ng dollar and a check of your commodity markets, we checked and rude is off about 2. 50 per barrel, the highs yesterday, the 10yearyearold, nothing 8. 811 . Ng there, thats your market story for now. Stable. Are lets take it to new york with su keenan. Begin with former National Security advisor john to on says he is willing testify if subpoenaed during President Trumps impeachment trial in the u. S. Senate. Drama in the h it complic