It is only the Dow Jones Industrial average right now that is lower today. We had a raft of earnings and a huge amount of Economic Data, very poor Economic Data. In the s p 500, it is some of the banks dragging it lower, but the dows worst performer right now is boeing, which is down 5 . Exxon mobil in there as well, and then j. P. Morgan chase. We had earnings from Morgan Stanley this morning. It has been a little all over the place, but down 1 now. The 10 year yield at 60 basis points after we got another whopping claims number, which we were expecting, but nevertheless is a shock to the system when you see it actually come out. Crude oil back above 20 a 0. 33. Just up about the u. S. Government said it was mulling paying drillers to keep oil in the ground. The vix just above 41. Guy a lot of oil. Lets check in with the bloomberg first word news. Here with the details, ritika gupta. Ritika the coronavirus outbreak has now effectively erased at decade of job creation. More than 5 mill
Hello to everyone from geneva, and that uh o headquarters. Welcome who headquarters. Welcome to this regular covid19 briefing. There were more than. Thank you. Good morning, good afternoon, and good evening. E are delighted to be joined thank you, tarik. Good morning. Good afternoon and good evening. As tarik said we are delighted krytalina, the managing director of the monetarily fund. Elcome, my sister. She will say more in a few minutes about the Economic Impact of the pandemic and what the imf is doing to support countries and the Global Economy more than one million confirmed cases of covid19 have been eported to who, including more than 50,000 deaths, but we know that this is much more than a Health Crisis. We are all aware of the profound social and economic consequences of the pandemic. The restrictions many countries have put into place to protect health are taking a heavy toll on the income individuals and families and economies of communities and nations. We are in a shared
Shrinks, but it doesnt set the u. K. Up for a good spot Going Forward. We are seeing the relationship between fiscal and Monetary Policy really evolve the u. K. We will break that down over the next few hours. You are seeing bond markets bid across the board, as we are koff develop. We want to kick it off with Michael Mckee. Theld central bank mike,entral banks if i say mmt, am i wrong . Anyway. Yeah, [laughter] its confusing, though, what is going on with the economic philosophy called mmt. Yes, it is unlimited cash in unlimited amounts for unlimited periods of time until we get through this. Youre still going to work your tail off today before we get to 4 00 p. M. Lets start in london come over the bank of england is going to finance Government Spending for the time being by lending money directly to the treasury. It is called the ways and means facility, a shortterm credit the last used during great financial crisis. Government and the bank say any borrowing will be repaid by the en
Hello to everyone from geneva, and that uh o headquarters. Welcome who headquarters. Welcome to this regular covid19 briefing. There were more than 400 journalists watching us on zoom, as well, with a number of questions waiting for our guests today and today we have a special guest. That is the managing director of the International Monetary fund. She will join this briefing to about the Economic Impact of the covid19 pandemic and the response of the International Monetary fund for journalists who are online and wish to ask questions, please click rays hand. We will start. Thank you. Good morning, good afternoon, and good evening. We are delighted to be joined by the managing director of the International Monetary fund. Welcome, my sister. She will say more in a few minutes about the Economic Impact of the pandemic and what the imf is doing to support countries and the global economy. More than one million confirmed have beenovid19 reported to who, including more than 50,000 deaths, b
There are a number of questions waiting for our guest. Guest, thepecial managing director of the International Monetary fund. She will join this briefing to talk about the pandemic and the response of the International Monetary fund. Questions,ist to ask please raise your hand. Tetra whoart with dr. Joined by others. Afternoon, andg, good evening. By theined today managing director of the National Monetary fund. Welcome. She will say more in 18 minutes ofut the economy making part this and what the imf is doing to support countries and the global economy. More than one million cases have includingeported, 50,000 deaths. But we know this is much more than a Health Crisis and we are all aware of the profound social and economic consequences of the pandemic. It is taking a heavy toll on the income of individuals and families and the economies of nations. In the shortterm countries, we can ease the burden on their populations to ensure people have food and other life essentials. For some c