Currently there are more than 3900000 global cases of coronavirus more than 272000 deaths newly released numbers show the damage that coronavirus related shutdowns are creating for global economies the u. S. Labor market reported historic lows slashing 20500000. 00 workers from nonfarm payrolls the Labor Department reported the Unemployment Rate surge of 14. 7 percent last month thats topping the post world war 2 record of 10. 8 percent but its still short of the Great Depression high which was at 24. 9 percent yet stocks are surging and seem to be ignoring those numbers well canada also lost a record breaking number of 2000000 jobs last month unemployment numbers surging to a near high of 13 percent while the worst of the pandemic seems to have passed in europe more countries continue to reopen their case. Animes still the European Union is facing its worst recession ever and france adjusted the e. U. Issue bonds of at least one to 2 percent of the e. U. s g. D. P. For the next 3 year
There are more than 3900000 global cases of coronavirus more than 272000 deaths newly released numbers show the damage that coronavirus related shutdowns are creating for global economies the u. S. Labor market reported historic lows slashing 20500000. 00 workers from nonfarm payrolls the Labor Department reported the Unemployment Rate surge of 14. 7 percent last month thats topping the post world war 2 record of 10. 8 percent but its still short of the Great Depression high which was at 24. 9 percent yet stocks are surging and seem to be ignoring those numbers well canada also lost a record breaking number of 2000000 jobs last month unemployment numbers surging to a near high of 13 percent while the worst of the pandemic seems to have passed in your. More countries continue to reopen their economies still the European Union is facing its worst recession ever and france suggested the e. U. Issue bonds of at least one to 2 percent of the e. U. s g. D. P. For the next 3 years so essentia
The moves in europe have been tremendous. A 58 basis point move upwards for the 10 year in italy. Moves. Re huge a big selloff in the bond market is not going to make the equity markets happy. You have limit down at one point for s p futures. The dollar keeps performing higher and higher. At some point, that is going to wind up crimping the Global Economy as well. To wrap it all into a neat bow, you have crude, the bottom falling out for that market. Goldman says they see brent coming to 20. Time now for global exchange. We are going to bring you todays market moving news from all around the world. From washington to new york, brussels, and london, our bloomberg voices are on the ground with this. Mornings top stories. The Trump Administration has promised a 1. 2 trillion dollar stimulus package, including to americans. Joining us is kevin cirilli. Where are we in getting this done . Kevin within the next week, i am told by sources. The president hasnt injected the treasury secretary S
Facing. Really reminiscent of that merce outbreak in 2015. We saw that 10 billion extra stimulus package back then. Because of this, we are seeing the markets under pressure, but one exchange that im watching is small caps in china. Actually at the highest level since october 2016. We have seen those pboc Monetary Policy measures. Not to mention more news that china could be taking over a hardhit industry. Lets get a broader check of the markets with Sarah Ponczek. Pretty much Everything Else is now trading in the green as the trading session does progress. We have seen markets turn lower under further pressure. 0. 2 but still on track for its best week since june. The hang seng now down 1 . Many times this week we have seen the benchmark approach 50 day moving average, but we have seen it fail as we have seen today. The nikkei roughly flat, but modestly lower. After trading as high as a half percent early on. Then we see the south korean kospi and underperform her across the region on
Change. Gold continuing to rise. Guy curve flattening a big piece of the landscape. Eurodollar spiking on the back of pmi data, i think the weakest number since 2013. I think we dont get ism until the week after next in the United States. Eurodollar with a 1. 08 handle. We just had a 1. 07 handle earlier in the session. Wasgerman tenyear significantly on offer. Pmi data out of europe much better than anticipated, so we have seen a turnaround when it comes to the german tenyear. 0. 7 s in europe down 0. 6 , depending on which market you pick. We are and again negative week in europe for equities. Vonnie coronavirus outbreak also accelerates outside of china. Japan seeing outbreaks with no direct links to china, and the preliminary markets perching markets purchasing managers indicating in february. Deputyinel is with us, cio from state street global advisors. 0. 5 thise yield down year alone. What is it telling you that the s p 500 is very close to a record, and bond yields are at recor