Three additional firms that had significant business in particular sectors its not just the three but we understand that leaves some companies that dont have a rating as we open these ratings, the process of opening, were looking for an answer there. Niac is not a nrsro. And you know it has not been traditionally used in this way so were looking at options there. So so you have not opened it yet, but you have not foreclosed the possibility any kind of time frame you put on that . We talked about it yesterday. Were working on it. I think that soon, lets say okay, i just want to stress again that there are dozens of companies that have very strong blast sheets and employ tens of thousands of people, and they choose not to go to a public Rating Agency but they are in many ways in the same position as a publicly traded company that use use these facilities and i really hope that the Federal Reserve and the treasury can find a way to treat everyone in an equitable fashion and protect as man
Ratings to three additional firms that have significant business in particular sectors. It is three others who were also considered major. We understand that does leave some companies that do not have a rating. As we open these facilities, we are just in the process of opening, we are looking for an answer. An nisro and has not traditionally been used in this way. We are looking at options for what to do. I was like until you i wish i could tell you we had an answer. So you have not opened it yet but you have not foreclosed the possibility of finding a solution for this challenge. Powell we are still looking for a solution, yes. Any timeframe you can put on that . Powell we talked about it yesterday so we are working on it. Soon, i would say. Stress thatnt to there are dozens of companies with very strong Balance Sheets and employee tens of thousands of people across all of our states who for one reason or another choose not to go for a inlic Rating Agency but are many ways in the same
Boost as shares jump more than 10 in their debut waking up europes dor mont ipo market President Trump threatens to call in the National Guard as violence erupts in minneapolis for a third night. With protesters setting fire to the Police Station over the death of george floyd. Asian equities and the week mostly lower as President Trump talks tough on china saying he will issue the white house response to the hong kong moves later today. We are not happy with china we are not happy with whats happened all over the world, people are suffering. 186 countries, all over the world they are suffering we are not happy a very warm welcome to street signs. I want to kick off with fresh data just crossing the wires in italy. The final print, it has been revised lower. We are seeing 5. 3 , thats the quarter on quarter contraction in italy in q1 thats against a preliminary 4. 7 contraction year on year. The contraction stands at minus 5. 4 compared to 5. 8 initially redibted we are seeing worse nu
That really made an impression on markets in europe. Lets look at how we are faring in the United States because we are down here, too, though not by as much. The 10 year yield at 65 basis points. Crude oil has erased any gains at saw after the drawdown in inventories earlier. 5. 42now trading hunting a barrel for wti it is now trading at 25. 42 a barrel for wti. Fed chair jay powell speaking this morning to adam posen of the Peterson Institute in washington, d. C. He pushed back against the idea of negative Interest Rates in the United States. He urged monetary and fiscal policy makers to rise to the challenge in order to avoid unprecedented downside risk. Chair powell while the economic response has been timely and appropriately large, it may not be the final chapter given that the path ahead is both highly uncertain and subject to significant downside risks. Economic forecasts are uncertain at the best of times, and today the virus raises a new set of questions. Vonnie for more, we
Along with hemt care and energy. That was quite a turn around on the banks ahead, wall street heavy weights are taking sides on the market david miller and david tepper warning about the historic overvaluation. Bill miller announces saying they see market values here. Were going to ask billionaire mark cuban which side he is falling on right now plus, a rare interview with william demchak. Hell discuss the banks decision to sell its stake in blackrock. They own 22 and its created quite a business since they sold lets focus in its a great booking and i cant wait for the interview as weve been discussing. I love all the people you book from nap foods to nikes, but this one is creme de la creme from sarah try to get one youd be interested in. 59 minutes left of trade lets focus in on the big stories. Mike tracking todays volatile market action. Phil has an update on delta. Kate has a look at what mastercard is say iing about Consumer Spending. Mike, start us off with the Broader Market, w