Francine theres a different term people who are in lockdown in the u. K. And other parts, people being bored. The different tone from people in charge saying we are trying to keep you safe. We dont exactly know when we can reopen or how much. It is a great experiment. If you look at italy, france and germany, do you reopen automotive first . It is going to be a delicate situation. We will have to see one data time. As i speak to you about optimism, just outside my window beneath me next to mount sinai on fifth avenue, the drone of sirens. We begin in new york. May 15 is the date the state could be reopening. Governor cuomo laying out a plan that starts with construction and manufacturing. He said it would probably begin upstate before moving down south to the city. Yesterday, the state reporting 367 deaths, the lowest number in almost a month. U. K. , Prime Minister Boris Johnson back at work. Johnson recovering from coronavirus. In his first public statement, he urged people not to gi
Selling. F positive the u. K. Likely to impose 14 days quarantine. We also have the irish tank barely under pressure the irish bank very under pressure. The bank of ireland numbers today. Boris johnson will appear in parliament and a half hours time. Btps on offer as well. We are up by three basis points. What is interesting is the spread between brent and wti widening on that saudi news. Vonnie lets get to the economy now. President trump telling americans to return to work after confirming the outbreak in his own office. Unprecedentedan 20,500,000 jobs, tripling the end limit rate the unemployment rate. We are joined by bloombergs peggy collins. How does it change the rhetoric now that coronavirus is coursing through the west wing . It has touched the Vice President s office and the president himself at this point. Peggy i think for everyone, the virus has pushed people different ways, and closer it gets to everyones families, the more people realize how widespread it has really gott
Part to some financials like capital one, comerica, synchrony, discover, and wells its self up 7. 5 all session. Up sevenfargo itself point 5 all session. After the initial jobless claims data, a little move in treasuries, now at 61 basis points. Stimulus stems the effect of the covid19 crime is might be infamous, according to mike mayo. He writes in the shortterm, that the potential for wave after wave of support for the economy and unemployed workers. That plus an outlook on banks, which he says show a [inaudible] right now. Lets welcome mike mayo, wells fargo senior analyst. You talk about contradictions in banking right now, one of them being the present versus the past. What do you mean by that . , banks are treated as if it is 2008 in the middle of the Global Financial crisis. Night and day difference for the banks. We do see a contradiction. Today, banks have double the. Mount of equity over 50 more liquidity. They have gotten out of the most risky activities. It has oversight b
Damage assessment economists expected payroll reports to show 22 million job losses, taking unemployment levels to their highest since the 1940s. Neel kashkari says the impact will be devastating. And customer orders slump. We speak to the ceo. Lots still ahead in the trading day. We will talk about siemens numbers and the lack of visibility. We also get plenty of analysis for the jobs report which we expect to see later today. With that in mind, lets take a look at futures. It seems we have found plenty of reason to be cheerful this friday. We will not have any trading in london because it is a Public Holiday, but we have plenty of positive trading coming in from the Asian Session and indeed, in the futures, we see that reflected. Futures point higher by around 1. 3 while european futures, where we see moves to the upside. Euro stocks futures up by a similar amount. Of focus on reopening, which seems to be taking place or being planned for in various parts of europe and in some cases
Appear such as the effect of reproduction number of the whole country falling below that prison there is still considerable number of new infections the liber of infections is not declining at a sufficient level. Meanwhile white house model numbers just in hours ago they project that number of coronavirus deaths will increase to about 3000 per day by early june now the New York Times reported the data came from an internal document however a white house spokesperson said the document was not presented to the task force so this comes as dozens of states have already begun reopening this is despite an increase in some numbers and the hunt for a vaccine continues on monday the European Commission pledged 1000000000 euros for the pandemics Global Response described as the start of the pledging marathon of the Commission Hopes to raise 7500000000 euros Prime Minister Justin Trudeau pledged 850000000 euros french president emmanuel mccrone promised 500000000 and german chancellor Angela Merk