Detail. Were all on the same page, both tracks, the bipartisan track and the Budget Reconciliation Track are proceeding apace and we hope to have voted on both of them in the senate and house in july. And im completely fascinated by this, rachel, because nothing like this has ever been done before. I dont know how theyre going to do the two bills because if youre the republicans and youre negotiating with the democrats on Infrastructure Bill, normally you would be saying to them, so this is the bill, right . Theres not extra, like, thing your not talking about. Yeah, theres this other giant Reconciliation Bill with taxes and all the other stuff, environmental stuff that you guys dont like, were going to do that on a separate track. And republicans are supposed to walk out of the room and say forget it. Ed markey is here. Hes going to be able to explain to me how the senate is going to do something that its never done before because i have no idea how this works. I trust Senator Markey
That we hope to have voted on both of them in the senate and house in july. Im completely fascinated by this, rachel, because nothing like this have ever been done before. I dont know how they are going to do the two bills, because if you are the republicans and your negotiating with the democrats on an Infrastructure Bill, normally you would be saying to them, so this is the bill, right . Theres no extra thing. You are not talking about it. Yeah, theres this other Reconciliation Bill with taxes and other stuff that you dont like, were gonna do that on a separate tracked. And republicans are supposed to just walk out of the room and say forget it. Ed markey is here hes going to be able to explain to me how the senate is going to do something that it has never done before. I have no idea how this works. I trust senator mark key to know how this can work, but i share your slack jawed skepticism that it is going to perceive in a two track way in any path that results in something that loo
He said simply, this doesnt matter, and december could be green. Could be grim. Jonathan the markets are looking at the data in the second half of 2021, not 2020. Tom jon will get to the data of a market lifting and all of that. This ecb announcement a bit ago is buried, and im sorry, it just sets up the theme of extend and pretend into 2021. They are going to extend bond buying forever and ever. It is Central Banks to the rescue. Jonathan the ecb wants you to focus on the duration of the Bond Buying Program and not the size of the package they might announce this week. That has been a big push on the communications side. I imagine that will be the focus for them when they communicate with us. For us, we are all getting used to the idea that Central Banks will be there for us. Weve been conditioned by that all year. The biggest challenge through 2020 was to somehow divorce how you feel about the world around you from your view on financial markets, on where we will be 12 months out. Th
The British Government told businesses today to be ready for big changes when the u. K. Makes its final break from the eu in one month. Opec and its allies need more time to reach a deal on Oil Production policy. A meeting today broke down today without any agreement. Again ministers will try thursday to allow more time to figure out whether to delay a planned increase in output starting in january. Supporters say the market is too fragile to absorb more oil. Global news 24 hours a day, onair, and on bloomberg quicktake, powered by more than 2700 journalists and analysts in over 120 countries. Im mark crumpton. This is bloomberg. Vonnie it is 1 00 p. M. In new york, 6 00 p. M. In london, and 2 00 a. M. In hong kong. Im vonnie quinn. Welcome to bloomberg markets. Here are the top stories we are following on the bloomberg and from around the world. Treasury secretary Steve Mnuchin and jay powell testifying earlier before congress on the cares act. Itsla says the fed will use tools until
Rally has fed into crude. Propelled thates price. People look beyond the covid to a look beyond to a returned to normal. Gold pretty much stable appeared bitcoin at record highs. Up about two thirds of 1 . We have a u. S. Dollar index unchanged. Lets have a look at the copper price. Copper advancing. The highest price and a more than six years. It is under president elect joe bidens formal transition. The hope is there will be a move toward a Lower Carbon Energy future. That britain the outlook for its demand. As has what is going on in china up. Joining in all of that. Lets have a look at the transition in more detail as we get over to new york and join Karina Mitchell for the first word news. Introduced biden has his foreignpolicy and Security Experts as he seeks to calm relations with International Friends and foes. The president elect is promising a multilateral approach, reversing the America First tragedy of the Trump Administration. He will prioritize ending damaging executive o