Financial Services Subcommittee hearing on creating a federal pandemic Risk Insurance program. Even when they are not recognized by the chair. Members are also reminded that they are responsible for muting and unmuting themselves, and to admit themselves after they are finished speaking. Consistent with the regulation accompanying house rest 965, staff will only mute members and witnesses as appropriate. When not recognized to avoid any background noise. Members are reminded that all house rules relating to order and the corn to this remote hearing. History is entitled insuring against a pandemic, challenges and solutions for policyholders and insurers. And i now recognize myself for three minutes to give an opening statement. According to the Congressional Research service, 110 Million People worldwide could enter a state of extreme poverty due to the Global Economic contraction, and here in the United States 657 Million People have filed for Unemployment Insurance since march of this
Frustration builds in some circles over the governments handling of the crisis. And east africa battles the pandemic and a plague of locusts a devastating crops across the region experts warned the 2nd wave this year focuses on unprecedented threats to Food Security. Welcome to the Program France has begun to lift its coronavirus lockdown after 8 weeks of restrictions people are now allowed to leave their homes without a permit most shops and businesses have reopened and many children will soon be sent to school with 26000 fatalities france as the worlds 5th highest coffin 1000 death toll. The streets of paris is starting to look more like the usual crowded selves after 8 weeks in lockdown french citizens are venturing out again its been a cautious reopening with most shops welcoming customers and many people returning to work. I think its still very risky for the population but costs are rising for companies so we need to go back to work but it all you. Know. No im not afraid everythi
Succeed in their goal, which is to delay, deny, obstruct. Also on the programme. John bercow has vacated the seat, so who will replace him as the next house of common speaker . The voting continues we may well have a result for you in the next hour. And the World Series Champions the Washington Nationalsfl are welcomed to the white house. Maybe a tad more formal this afternoon, than the parade at the ice hockey last night . Hello and welcome im Michelle Fleury in washington, Christian Fraser is in london. Democrats moved their impeachment inquiry into the next phase today, with the release of the first transcripts from interviews they held behind closed doors. The testimony comes from the former u. S. Ambassador to ukraine Marie Yovanovitch and state Department Official Michael Mckinley. Ms yovanovich who was fired at Donald Trumps instruction told congress she felt threatened by comments the president had made about her during a july phone call with the ukrainian president volodymyr
Its the bond market where we getting all the interest. Weve seen upon rally tech place, a quick look at whats going on. The bond rally has been pleading out of lake. Still were seeing a move upward and indonesias 10 year yield ahead of that third decision, looking for yields. There you go. The 10 year yield, a bit of a selloff in the bond market. Yesterday there was a zero coupon bond offer in germany. Eurosing like 2 billion worth of that, only one third of the allocated bonds. Thats a look at whats going on at whats going on it bond markets. Lets look at the first word news with su keenan. Budgettart with the u. S. Deficit, its going faster than expected and the Congressional Budget Office at President Trumps trade war is a drag on the u. S. Economy. Up from an estimated 960 billion in the year ending september 30. In january the Budget Office forecasted deficit of 980 billion next year and did not seek topping 1 trillion since 2022. China is threatening retaliation against u. S. Com
Everyone. Good afternoon if you are watching from asia. This is bloomberg surveillance. These are your markets. We need to watch out for the u. S. 10 year yield and eurodollar. Augustgetting some services pmi rising to 53. 4, little better than expected. ,ut if you have a breakdown also manufacturing is better than expected, but what you need to are member is germany is not doing so great. France is a little bit better remember is germany is not doing so great about frances olympic better. Great, france is doing a little bit better. You can see our interview with Esther George 12 30 london time. Tomorrow, a stellar lineup. We speak to James Bullard all here on bloomberg tv. That may move the markets overall, but now, lets get straight first word news in new york city. The chosen one. That is how President Donald Trump described himself to reporters. He said it is his job to wage a trade war with beijing. Somebody had to do it. I am taking on china. I am taking on china on trade and we