Options. Good morning, everyone, and welcome to bloomberg surveillance. I am Francine Lacqua here in london. Now, there is quite a lot going on in the markets, simply because the stimulus in the u. S. Is getting people quite excited. Part of it is what we are hearing from Central Banks around the world, the projections. This is what the markets are doing overall. Stocks are turning higher. Gold at the same time is ascent, and then we have the word on the latest american stimulus package. We need to mention pound, rising against the euro, after the bank of england said it did not plan to tighten policy until the inflation outlook is more clear. Now lets get to the bloomberg first word news. Here with me in london is laura white. Hi, laura. Laura as fast as they can, but that does not mean safety is being sacrificed. Dr. Anthony fauci he hopes the vaccine is at least 70 effective, but he says he would still feel good if it is at least 50 effective. Classical history of viruses, particula
Im Francine Lacqua. The focus is on the markets. There was the rally we talked about, now a bit of a correction. Certainly it started in the u. S. If you look at u. S. Futures, they are gaining. European stocks are pretty much flat. There are much more concerns, which led to the selloff about the second wave of infections, but also the prospect of a protracted american recovery that seems to be easing treasuries. The other things i wanted to show you, because there is u. K. E. U. Negotiations on brexit, but also the u. K. Economy shrinking a record 20. 4 in april as businesses and workers reeled under lockdown. You can see pound 126. 1 he five. 126. 125. Ave experts will have expert data analysis. Heres dani burger. Dani the Global Economy is recovering slower thanvw expectd and will bear lingering scars from the coronavirus pandemic. Thats according to the International Monetary fund. The imf is set to release its growth projections june 24 and they are likely to be worse than the 3 c
We have a number of exclusive interviews for you. As always lets check on your markets. One of the things we watched the most. Rising, european stocks were up, they are turning a little bit lower. The risk on kicked off the week is starting to show signs of easing. Yields under recovery. Also looking at Sterling Sterling rallying. Well have plenty more in your markets. Lets get straight to the bloomberg news. Trump is escalating his threats against the World Health Organization, he is unhappy over its handling on the coronavirus pandemic and may personally just permit the cut u. S. Funding of it doesnt make sweeping reform bring saying the agency is to close to china. President xi gave the who his full backing. The u. S. Is going to have to suffer through a spike in virus cases as the economy reopens according to lowell lloyd banks Lloyd Blankfein break saying they can afford to wait afford to wait for vaccine before reopening. Most historical credits would have to acknowledge. Can i c
Cheerleading forward as we expect politicians to do. The underlying math on the thursday past was outright graham. Outright graham. Whether it was germany or russia. Increasedew york city 9. 8 yesterday. That is a huge fall back from the end of may story we have been getting. Francine if you look at the pattern, if it is anything like we saw in france, gets better and then gets worse and then get better. Bear with us and good luck to everyone. Lets get to the bloomberg first word news in new york city. There china hasnt had an economic report like this in decades. The coronavirus pushing the countrys economy into a contraction in the First Quarter. Gdp shrinking to 6. 8 from a year ago, the worst performance since at least 1992. Recovery will not be easy. Coronavirus has hammered business around the world. China will have to demand will have to rely on fragile domestic demand. It is a threephase process. The president says some phases could begin literally tomorrow. The guidelines mark
I am Francine Lacqua in london. Lets check in on your markets. This is what we see in european stocks, down 0. 3 , a bid for treasury, a bid for gold. We are also getting some data out of the euro area, that manufacturing figure for february is slightly higher than expected, 49. 1 instead of the 47. 4 forecast, so we are seeing a bit of an uptick. 1. 0818, but we will try to figure out what that means for the European Central bank. Speaking withare philip from the European Central bank, about his outlook. Lets get to the bloomberg first word news in new york city, here is viviana hurtado. Hi, viviana. Viviana francine, we begin with more data out of europe. Germanys economy is facing more pressure. Many factors are bring about the impact of the coronavirus outbreak. Is latest pmi is showing it still in contraction as expectations for out that are dropping. And france, the Service Sector is driving Economic Growth to an unexpected pickup overall. That is as the nation fell back into con