Eurozone. The german lender looks to fill its top job as soon as this week in a bid to end a shareholder revolt. 6 00 and in 6 00 a. M. In london. You have not had it so cheap for quite some time. Five year low in dollars. Record no in pounds. , thedity from my friends munificence of Central Banks is gushing in the form of liquidity. It goes back to the old story which is where do you find the velocity, where do we start riskon. He bonkers jp morgan, citigroup, look to the hinterlands of recovery. Good to see you again. Bita Goldman Sachs takes a of a different view in terms of the rest of the year but i still see some growth coming through in 2021. To jp morgans point, they are saying liquidity will lift stock and bond markets and that comes back to the conversation you and i have been having for so long in terms of our these two markets giving us different signals or is it all about the liquidity . Manus which is priced better . Moves they scrapped their bearish call on risk assets a
Bottom of the stoxx 600 after the German Airline posts a loss and warns it will run out of cash in weeks if it does not get Government Support nestle sales drop as the lockdown bites but they say it is too early to know the impact. The spread between the italian and german tenure lead ahead of the rescue fund unresolved despite more support translator substantial investments to the European Union will be necessary. I have made it clear we will not be continuing before the pandemic this will also be a mart of the pandemic in the future retail sales with a record surge in march not enough to help with the free fall in foot fall and other goods. A very warm welcome to street signs. Fresh tape out of germany. Painting a grim picture now crossing the tape, weve got the ifo Business Survey showing the Business Climate index in april has come in at 74. 3. Thats well below expectations of an 80 print the current index has come in at 70. 5 in april just below the fra forecasted 81 there. The ge
To cross and more im joined by my guest william look there are employer hes an assistant professor of economics of Florida Atlantic university as well as a director of the sound money project at the American Institute for Economic Research and in beijing we crafted to go he is the Vice President of the center for china and globalization harjo in crosstime group in effect that. Just a few hours ago unemployment data was just released now were up to over 20000000 people applying for unemployment in the United States who would have thought even 6 weeks ago its extraordinary and being a historian by trade i know the history of the Great Depression depression very well not only in the United States but globally so when i see these numbers come out its terrifying to hear how it is you know this pandemic will be resolved its only a matter of question and resources and patients because i understand that because ive been locked down for a month now and its getting very very tiresome. How is thi
Out its terrifying to hear how it is you know this pandemic will be resolved its all a matter of question and resources and patience because i understand that because ive been locked down for a month now and its getting very very tiresome. How is this pandemic going to impact a recovery if there is a recovery and i never thought in my lifetime i would ask about is there going to be a recovery because were seeing such amazing numbers that are just terrifying for the average person frankly go ahead william that we are were dealing primarily with a temporary supply shock right its a pandemic and so the most likely outcome is. Recession that is a recession that has a recovery thats just as quick as the downturn. You know the virus is eventually going to run its course and when it runs its course. Most of us are going to return to the to the Consumption Patterns that we had before will consume the same goods and services and most of us are going to return to the jobs that produce those good
A recovery that just as quick at the downturn. You know the virus is eventually going to run its course and when it runs its course most of us are going to return to the to the Consumption Patterns that we had before will consume the same goods and services and most of us are going to return to the jobs that produce those goods and services but there there are 2 factors that could significantly change that it could change the the shape recession into a huge shaped recession where the depth of that recession the low output lasts much longer and the recovery kicks off much later in the 1st in the duration of the pandemic the longer this virus blasts the more businesses are going to fail and when a business fails the the labor and the equipment of that business have to get reallocated to some other business and that takes time delaying the recovery the 2nd and. Maybe the thing that we have a lot more control over is our policy response now some of the policies that weve been active here i