Pandemic. Some of the pandemic statistics. N case dynamics jonathan this has been remarkable in the case of talks down ndc totally stolen down in d. C. Totally stalling. Lisa totally agree. Going forward today, we get a read on the economy in the United States. 8 30 a. M. , Producer Price index data. Very interesting to see the divergence between Inflation Expectations among futures traders versus the absolute bond yields, which keep falling. Secretary mike pompeo speaking at an event in the czech republic. We are interested in anything he has to say about china. Three year treasuries are going to be auctioned off. The actual deficit is so unclear because that fiscal support package is missing in action right now. Jonathan lets get to the price action. Equities futures are higher. In foreign exchange, the euro stronger. 1. 1787, up 0. 4 . We break 60 basis points on the 10 year to 0. 6 . I will be the one to ask the first stupid question of the morning. Do supply matter does supply mat
Discussing enough what the Standard Chartered bank and hsbc is doing where they are saying they are going to agree to whatever with new security rules of hong kong. How big a deal of this in your london . Francine well, it was quite a big deal when they announced it. I think you and i spoke to stephen engle. He reminded us, it goes to show may be the influence that beijing has on some of these companies if they want to have licenses in mainland china. This is actually quite difficult to dig into the deep root of it. Now, we understand that there is a backlash from investors. Just yesterday, we had o aviva, one of the biggest investors in a lot of these banks, saying it is decisionable with the of hsbc and Standard Chartered, it is uncomfortable about the banks decisions. Tom absolutely fascinating what we see their. We have got lots of coverage through this hour and on through bloomberg surveillance. Theill be joined from school of chicago, the former leader of the central bank of indi
Of the pandemic. Well talk to mayor of miami about what his city is doing to get back to business in these very tricky times. Power lunch begins right now bob has more on the markets today. Bob. Were grappling with that right now, four to one advancing to declining stocks. The market continuing to believe the primary thing affecting them is the rope ieopening the market believes its going well you heard about the president s tweet. Is that heetsing up. There are people questioning over the weekend any need for more fiscal stimulus saying we sit back and see what happens at this point thats an issue. Three of the four, an issue over the weekend. The russell 2000, small cap. Were seeing banks, retailers doing well were seeing transports doing well today those are airlines this is all the roping stoe ing and the market believing that is koptsing. Most markets are at the highest level since early the first or the second week of march were not seeing dramatic break outs its the same old nam
Tenyear 91 basis points one more way in which the economy in this case has confounded some and the markets had it right yeah. There wasnt a day that we came in and we heard from very big people, rich people, Hedge Fund Managers saying this is ridiculous its fanciful, that the rally itself was uninformed. I admit, look, there were parts of me that said are you kidding me, every morning the airlines will be up big when very few people are flying . It turns out that the hiring took place in the areas that we felt were most devastated. Retail, travel, leisure. And its remarkable because when youre looking for 20 and you have all your scripts all set to talk about the beginning of the next great depression, and then you get the actual numbers, it kind of knocks your socks off. You struggle to think why did we hear so much woe is me the other side says we heard it because 13 is still unfathomable, but its certainly more fathomable than 20 so, i dont know its good. It is good. The president r
Are reopening. One model just out tonight is nearly doubling its estimates from 72,000 deaths to 135,000 deaths by august. Another estimate, this one from a private trump adminisncumen se to r0and ta a look at t in just two months, deaths in the u. S. From the virus have skyrocketed from 11 on march 4th to more than 8,000 on april 4th. And as we come on the air tonight, the death toll now stands at more than 68,000. All of this as the fight over social distancing is growing and in some places turning violent. Federal prosecutors say a colorado man who had been planning to attend a stayathome protest was caught with pipe bombs in his home, and in flint, michigan, three people are under arrest for murdering a guard at a store. Police say he asked one of them to wear a mask. Still even more states are loosening restrictions, including california where the governor just said some Retail Stores could start reopening on friday. So theres a lot of news to get to tonight. I have team of corres