Of 1 ow by only 1 10 versus the u. S. Dollar, but nevertheless it seems to be a logical move for the markets. In terms of what we have got coming up, we will be talking about whats happening in the race to find a vaccine. We will be joining by the ceo of novavax. With the United States getting done earlier on. This stock has been on an absolute tear this year, today really adding on to that as well. We will get that take on the progress thats being made and what the money is going to be used for and in terms of where he is relative to his peer group in the race for the vaccine, the many vaccines that we will ultimately end up needing if we are not going to do more damage to the global economy. The European Commission is out with its assessment of the european economy earlier on, warning that the coronavirus Economic Contraction will be bigger than anticipated earlier and the recovery will take longer than previously estimated, forecasting a 3. 7 drop in growth this year. Joining us fro
What they say. I am pleased to introduce my first guest, the highest Health Official in the land. Alex azar has a breath of experience of both the public and private sectors. His key areas of focus include health care, research and innovation, all of which assume added significance in the coronavirus era. We had a really fantastic forum and it wouldnt be what it would be without you. Thank you bro being here. Let me start thank you for being here. Let me start off and ask you, we have had various discussions of coronavirus challenges from the frontline, what is going on in communities, the debate around school. What i am interested in right now are vaccines. There is a lot of confusion out there about we are going to do. Vaccines seem to be vital. Is there anything you can tell us about where we are addled that front, operation warp speed and your oversight and encouragement about a vaccine that is going to save us . Thank you for asking about lightspeed. The president commissioned us
110 per share the last time i looked. For green on the screen mainland equities. They continue to climb higher. The futures in the u. S. Are flat. We can move it on now. In terms of the dollar, there is some weakness. Trade data out earlier. A bit of a squeeze on the aussie. Concerns about the virus as well in victoria. In terms of the euro, that has been on the tail end. We can move it onto some of the commodities were looking at. This thing in terms of inventories. They have been declining but still concerns about the virus and demands there. Gold is currently at 17. 68. There is the spread that we see. Were are looking at really back termsupport, on pause in of additional stimulus to the economy. Yvonne i was hoping for some type of liquidity or something to reverse that trade. Look at what we are seeing here. The Prime Minister of australia has considered this worse. This is falling in line with what we have seen from other Global Leaders like Boris Johnson who now says nearly 3 mi
Resilience in the hong sang this morning. The u. S. House of representatives passes a fresh china sanctions bill. Welcome to daybreak europe. We could use the word resilient to talk about the markets right now. Second day of the new quarter and the second half of the year. We did the Risk Appetite pick up a little bit yesterday after a slow start. The data helping a little bit. What is driving the positive sentiment overnight in asia but also in terms of european and u. S. Futures today is an early trial of an experiment to shot from pfizer showing that the shot was safe, prompting patients to produce antibodies. Thats giving a lift to the markets. Equity markets are moving on that. The 10 year yield this study. Not a lot of movement on the headline level on the bloomberg dollar index. Yesterday withn wti going above 40 a barrel on a u. S. Stockpile drawdown. U. S. Stocks climbed after a double dose of optimism from positive Vaccine Developments and betterthanexpected manufacturing dat
Kong which has galvanize the beltway and the press. We will be seen much more of that, im sure, through the day. Statements by the administration, the condemnation. I will point out that the idea of will we see protests this weekend . Francine im looking forward to catching up with selina wang shortly. Lets get to bloomberg first word news in new york city. Top hong kong activists are calling for protest. The National Peoples congress is expected to pass a legislation that would force for kong to implement laws active treason and subversion. For the first time in decades, china has abandoned the practice affecting annual targets for economic growth. Instead, it will shift the stimulus focus with jobs. U. K. Posted record budget aticit last month, standing 76 billion. There is an unprecedented amount of money to prevent the clash crash of the economy. An executive at oxford has recruited more than 10,000 people to take part. The u. S. Has pledged 1. 2 billion towards the vaccine develop