The markets are focusing on what jay powell said yesterday. The market is also focusing on what we are seeing across the globe. The number of infections being weighed compared to the extra Monetary Policy being put out there. Investors weighing better economic figures against the continued increase in virus cases. In other news, metals advance with copper climbing for the fourth day. Manufacturing and services in china. That adds to a bit of optimism. Lets get straight to the bloomberg first word news with leighann gerrans. China has approved Landmark National security legislation for hong kong at the end of a threeday meeting in beijing for the nations top legislative body. Representativee confirmed the vote. The u. S. Said it is suspending hong kongs special status, making it harder to export sensitive American Technology to the city. German chancellor Angela Merkel is throwing her support behind a radical Recovery Plan for europe. Packages include 750 billion euros of joint debt. Wh
To get toay, a lot this week. Trying to understand the impact of the gradual reopening of the economy. What kind of impact it could have on jobs and productivity. We way that with the story on oil, one of the biggest of the last 10 days. Saudi arabia started doing this production cuts a bit sooner than expected. This is what im looking at overall. A lot of earnings coming through though be the big story of the week. You, have a data check for seeing the stocks in europe, the pound orally sterling up and then i quite look quite like looking at what we can expect. Is due to to speak shortly from downing street, we are live with what the Prime Minister has to say. He is back at work with the uks to tackle the coronavirus and ease the lockdown that has brought the economy to a standstill. As soon as he does it come we will bring you every headline on that. We begin this busy news monday morning here in new york state, yesterday the state coronavirus deaths dropping to the lowest of the mos
What is so important is a massive shift and the quality of the riskuncle relations this morning. I dont want to over of the riskon relations this morning. I dont want to oversell it, but it is that type of monday. Francine we will ask how some of these countries are doing with lockdowns in a second, but first lets get to first word news in new york city with viviana hurtado. Viviana as soon as may 15, that is the date could begin reopening. Governor cuomo laying out a phased plan that starts with construction and many factories. He said he would probably begin upstate before moving to the new york city area. Yesterday the state reported 367 deaths, the lowest in almost a month. To the u. K. , where Horace Johnson is back at work. The last cup where Boris Johnson is back at work. The last couple of weeks he recovered from coronavirus. In his first public statement, he urged people not to give up on social distancing measures. He said ending the lockdown now would risk a second spike of
Here as well. Looking at continental europe, spain and france are two countries the hardest hit by the coronavirus along with italy. They are set to ease lockdowns. We have Pedro Sanchez expecting to announce the loosening of measures after the weekly Cabinet Meeting which takes place later today. Later today also, france will be presenting the governments blueprint to the National Assembly on tuesday afternoon, and that should outline how they plan to ease peoples confinement as well. Is the original epicenter of the outbreak on the continent that will soon allow people to leave their homes for the first time in weeks, and that should mean they will be joining other countries including the likes of germany and austria in relaxing of shops to array open up including tattoo studios. In the u. K. , Boris Johnson saying the British Public should keep on obeying lockdown rules to avoid a disasters second wave of this outbreak here as well, coming as the number of recorded deaths from coron
About seven basis points. Still an awful long way to go on that story. Vonnie in the u. S. , it is a positive session, slightly risk on. We have some guidelines for when the economy might start to reopen in new york city and in various economies around the country. Markets hanging onto that. Banks are the best performers in the s p 500, which is up 0. 9 right now. They are followed by Consumer Services and real estate. The yen is stronger today as well, off its highs now. 107. 20. T crude down at 12. 40. That continues to darken. The 10 year yield is now up to 65 basis points. Slightly risk on tone today. Talk a bit about what is happening in a little more detail. Italy, france, spain announcing plans to ease lockdown restrictions as the british Prime Minister pours a little cold water on the idea. Giuseppe conte in italy raising concerns about a possible second wave of infections that could trigger irreversible damage to the economy. Lets talk about the risks surrounding reopening and