Distribute 300 million doses of the Coronavirus Vaccine in india. Says it is paired with an Indian Company to conduct phase three trials in india. A top Indian Health official calls the partnership a winwin for india and the world. In lebanon politicians have missed a deadline to form a new government. The deadline was set by Emmanuel Macron who has been pushing lebanon to an act urgently needed reforms. Lebanons struggling economy took another hit when an explosion killed nearly 200 people, injured thousands and caused losses worth billions of dollars. Global news 24 hours a day on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. I am Mark Crumpton, this is bloomberg. It is 1 00 in new york and 1 00 a. M. In hong kong. Welcome to bloomberg markets. Here are the top stories. It is fomc decision day. Unveiling a strategy on inflation. Today they have the opportunity to back up their plan with details as they look to accelerate
With Second Quarter volumes that may fall as much as 25 . Ap mollermaersk, the shipping company, said Second Quarter volumes will take a huge hit. You see a top german judge, one top german judge says the ecb is not the master of the universe and must be held accountable. This is Angela Merkel and Emmanuel Macron agreed to open the france germany border. U. S. Medical advisor Anthony Fauci ways in on the Market Sentiment, warning against reopening too soon. Stanley druckenmiller adds to the downbeat tone, saying the equity risk reward is the worst hes ever seen. Finally, a loss in the First Quarter. Putting aside one third of one billion euros for virus provisions. We speak with the chief Financial Officer between or lot in the next three minutes view minutes on the effect of the coronavirus. Ap mollermaersk, First Quarter revenue beating the estimate. 10 billion. 9. 57 billion in the First Quarter at maersk. The estimate was 9. 36 billion. The ceos who we are going to speak with momen
Matt stocks and freefall. The s p 500 sees its worst session since 2011 and the fastest stock Market Correction ever. 5 trillion in Global Market cap are erased in a week. Virus fears intensify. Cases and south korea to knock 2000 cases in south korea top 2000. Jp morgan joints citigroup and Goldman Sachs in slashing estimates for u. S. Companies, and crude slumps. Oil set for its worst week since 20 11 as well as opecs secretarygeneral says there is a renewed commitment for joint action. A report says saudi arabia wants producers to agree on additional cuts of one Million Barrels a day. Just under an hour away from what could be a bloody day of trading. Futures that i looked at were the worst since at least 2016 on the stoxx 600. Anna good morning. Is this what fear looks like . Markets down by more than 4 . You will see how much scary looking red there is on that screen. Futures in europe down by more than 4 on the cac, as you can see, and expect them to see significant losses. U. S.
Boris Johnsons Brexit bill faces its first vote in the new parliament. I guess with an 80 seat majority , we expect smooth sailing in u. K. Politics on whether Boris Johnson can get this bill through . The vote today is a formality. It is a novelty in one sense for brexit. A debate on brexit and a result that is almost certain. If you contrast that with some of the very touch and go boats we had before the election, election, youhe can see how Boris Johnsons majority has changed everything. Anna what does this mean for the timeline for brexit and where we go from january and beyond . Britain will leave the eu on january 31. Oft will set up 11 months the adjustment period. During that time, britain and the eu will have time to negotiate a trade deal. Anna we will keep our eye on th at in 2020. What is the significance of president xis visit to macau . Anniversaryhe 20th of macaus return to chinese rule, but also to inaugurate the new chief executive under what has been a pretty stable s
Well. Guy thats interesting. Interesting about the u. S. Consumer. Tells us a lot about where we are right now. European stocks are higher. Volumes arent exactly great right now, but the trade narrative is helping. We may get an effective rate cut out of the chinese overnight. Pay attention to that one. Looks like the huawei extension is likely to go through as well. All of that helping lift stocks up, but it is unlike volume. Yields moving as well, moving higher. Bond prices are coming down. Big focus on germany on the fiscal side. We will talk about that in just a moment. That is a narrative moving markets at the moment. Brent crude up by over 1 . A bunch of reasons for that. Weve had an attack in saudi arabia, a drone attack. Also, the trump tariff talk helps out, may be giving brent a bit of an uplift. The Global Economy obviously a significant factor. Vonnie sticking with markets, we are joined by ash alankar, Janus Hendersons global head of asset allocation, live from denver. Wel