Nominee joe biden offering more policy, less shouting, kicking the night off with different visions on how to respond to the coronavirus pandemic. Pres. Trump we are learning to live with it. We have no choice. We cant lock ourselves up in a basement like joe does. Mr. Biden he says we are learning to live with it. People are leaning to die with it. You also set a vaccine will be coming within weeks. Is that a guarantee . Pres. Trump no, it is not a guarantee, but it will be by the end of the year. Notbiden anyone who is taking control, who says i take no responsibility, anyone responsible for that many deaths should not remain president of the United States of america. Chiefbloombergs washington correspondent Kevin Cirilli joins us from nashville. What is the rhetoric on the ground . How to the markets need to Pay Attention to it . Kevin first things first, i think it was a shift in tone from President Trump, and that really provided him an opportunity to try to make direct appeal to
Multiple seeking challenges in the rise of yonperforming loans, so m second question is on banks. The general counsel discuss the onond containment measures european banks . Thank you. Thank you very much for your question. Tltro is a longterm refinancing scheme that is really intended help the financing of the economy because banks are offered very attractive terms in order and provided that the lind to the economy. It is not that they lend to the economy. It is not that it was a very generous package of refinancing without any conditionalities. The banks are going to only be eligible to the very attractive rate of 100 basis points provided that they lend at least as much as they did to the economy. So that is number one. It is an encouragement to finance the economy. And all sectors of the economy, not just large corporate accounts. It is focused on small and mediumsized enterprises. Through the enlargement of collateral pools, we make sure it can reached the small osborne orders and
Of a tough winter ahead for the u. K. Lets check the markets. Weve got bonds on offer, equities crashing a bit catching a bit. The s p up by 1. 33 . Lookuro is catching a bit, at what is happening with brent. Bumpy all across the products. Trading,where we are on the upside. Alix, i got the time right eventually. Alix good thing you caught it. Cases on the rise over in europe. You wound up having a paris looking at restrictions on bars. It all depends on government. Boris johnson expect a very tough winter ahead. The chancellor did warn the country. Have a sacred responsibility to future we need the public finances strong. Through careful management of our economy, this conservative government will always balance the books. Ive never pretended there is an easy cost free answer. Hard choices are everywhere. Alix joining us now from copenhagen, is the saxo bank cio. A democratic sweep, a blue wave. You want to buy value, so you will rotate out of the u. S. And by europe and buy europe. D
Fed will look for. You have retail sales and they are in positive territory, but the rebound is slowing. How do they digest the data . Catherine a lot of people are looking for whether or not the fed will alter the economic rejections. They have been very limited. A downside perspective for the u. S. Economy and some people are saying the data is more positive. Optimistic, is too i think the fed will not upgrade their forecast because the data coming in, everyone expected to be a balance, but there is a loss of momentum, and if we take a broader perspective, it is fragile. Guy so, september we get the summer of Economic Predictions updating us into 2020. Do you think we will see the average. Moving higher quest average dot moving higher and rate heights hikes being priced in . The market is not set up for that. Guy there is no prospect for any rate hikes. That has been clear and put forward in language that is uncontroversial. No rate hikes, at all. The market may have interpreted aver
Going on. European Equities Trading higher , up by 0. 9 . The Energy Stocks are doing relatively well today. U. S. Equities are also pushing higher, up by zero point percent on the s p 0. 6 on the s p. The cable right around 1. 29. The consensus seems to be at the moment that we are nudging towards the possibility of a deal. Then lets talk about what is happening on the periphery. Greek bond yields hitting a record low today on the 10 year. You are seeing spread compression when it comes to italy. The market is worried about spain, but nevertheless, the idea of redenomination risks fading, this rescue deal which may or may not be on, and the possibility of more qe all combining. We will talk about whether that is a real refraction a real reflection of where risk lies in europe. Alix and the virus cases all over europe leads to the view on the economics, spain versus greece etc. The u. K. Also preparing new curbs that could shut down pubs and restaurants as early as next week. Bloomberg