Being reported in the countrys financial and Business Capital of milan Major International events such as milans fashion week are scaled back all cancelled outright schools and universities are closed and passengers on International Trains out of milan are being tested for the virus the epicenter of the outbreak is lumbered the authorities there have put several towns under quarantine affecting some 50000. 00 people stocks in milan and in front for chits 3 percent and the latest coronavirus p s. A some Silver Lining on the business horizon comes from germany 0 institute the latest Business Climate index for february came in at 96 point one percent thats better than expected and for more im joined now by professor t. Mo of almost was a senior economist at the center for macro economics and service good to have you with us please tell me how is this better than expected business and cement fit in with the current coronavirus. Yeah thats true it was a bit of surprise this morning when we
On radio and television, what you need to know, a data check into our discussion this morning. The markets are on the move. Just one icon from the Northern Pacific rim, the japanese yen through 1. 50 is historic. Lisa its not just the yen, the bond yields are continuing to go up and youre seeing softness in areas where we see companies outperform. When we reach a Tipping Point . We are not there yet. Tom Julian Emanuel will join us later. Its real simple, he says the fed cannot be happy. You see that with the unraveling of the two sent spread. Lisa the market maybe is doing the work for them but its not clear its actually doing the work thats needed. We will get a gdp figure today that shows a reacceleration in growth that is not what the fed wants to see. We saw a blowout number yesterday of new home sales. The fed is not counting on this to drive down inflation. Tom im drowning in the narrative. Katherine greifeld is joining us this morning. Gdp, first look, 4. 5 . We are struggling.
Touch and go whether they will rise for a fourth consecutive week. Looking likely. Ivy smallest of margins. The smallest of margins. Bond yields gaining today with your final and cds two columns. A minus number on the bottom half of your screen. Euro is the blue line. This chart is telling us that the euro this and this year is making people less worried about the correlation between the two, the inverse correlation is breaking down. Still a minus, but has come down from a negative five 28. 6 with investors focusing on the Positive Side of the economic story rather than the fact that the strong euro pushes down on inflation. We had gdp data today. The economyyou that ended the difficult year on a stronger note with better than expected gdp data in the Fourth Quarter but the year was a disappointment. This is gdp on a quarterly basis going back to 2003. Rand has been a big subject for the last month or so. This is the randdollar rate at the median forecast, the white line. As the rand r
We are going to get started. There are a lot of books to mentions i want to make sure i get them right. Thank you for all being here. Thank you especially to the folks on a panel. We are pleased that you are here. There has been a lot of talk about the last generation in the last 40 years really highlight the challenges of measuring economic values its been a lot of people take the view that there hasnt been much progress or growth or economic stagnation over that timeframe. I often try to put the light that by asking people whether they are low income raise your hand if you want to go back to 1975. There usually are a lot of takers. One thing is undeniable over the last ten or 15 years we truly had been living with an economic stagnation. I joined the Cato Institution a year ago as president. And over that time trying to explore the reasons of the growth slowdown. I have them as books. One is understanding the growth slowdown in another is reviving Economic Growth. For the first time
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