The economic problem, thats much more on the fiscal size. The focus needs to shift on to fiscal stimulus now. More coordinated policy response. And all of the above strategy its critically important do that. Dont bicker and argue whether doing payroll taxes or paid family leave. Do them all. This is what the market needs to see, fiscal policy makers panic. G to markets stop panicking when start panicking. It took until really the last butdays for that to happen, here we are now. What a week its been. Table, me around the greg, and from pasadena, westernia, mike of Asset Management. Michael, the Silver Lining at the end of a brutal week for you out there, i know. Finally do you start to see the and shouldr panic that be the moment when markets stop panicking . Real good thats a point. We knew fiscal policy was coming our way. Monetary policy was coming our way. The two working together in a cohesive fashion, i think, is reassuring to the markets. I think youre seeing a little of that to
Our bloomberg voices are on the ground with all of this mornings top stories. We begin in japan, with efforts to calm the market jitters over the coronavirus outbreak. The boj says it will provide ample liquidity to ensure stability. Joining us is enda curran. It help to the market for a second. What did we learn . Enda it seems like it is part of a coordinated push by the worlds Central Banks. To be a g said they would provide liquid it the boj said they would provide liquidity and followed up by putting money into the market. It is important to also say what they are not doing. They didnt signal an Interest Rate cut. Interest rates are already in the get of territory in japan. They didnt indicate any outright easing. They already have a huge Balance Sheet from years of quantitative easing. It is in sync with steps being taken by others. It is more designed to ensure confidence than outright easing. Alix lets stay in asia right now. Global coronavirus cases are at 89,000. Indonesia re
Hour, jp morgan private banks and Asset Management ceo and cnbc contributor we begin with breaking news. Nearly 90 of the s p 500 is in correction territory what is called a move of 10 or lower from recent 52week highs. All the major averages look to push deeper. If these futures moves hold, the dow would be down by 620 points at this stage. The massive move of volatility we are currently just off our worse levels so far. Checking treasuries. The 10year note long bond currently near the 10year note yield 1. 91 . 30year treasury long bonds, 1. 69 . Twoyear note yells below 1 as well we are seeing red across the world as they enter their correction mode. Not a spec of green to be seen global Team Coverage this morning. Matt taylor in singapore and Steve Sedgwick in london matt, well begin with you in asia the route continued there as well absolutely, dom a rough day. Many markets entering correction territory. Falls across the region in the order of 2 to 4 as those virus cases outside of
Much. The economic problem is much more on the fiscal side. The focus needs to shift on to fiscal stimulus now. More coordinated policy response. And all of the above strategy. Dont bigger and argue about doing payroll taxes are paid family leave, do them all. What the market need to see is fiscal policy makers starting to panic. Markets stop panicking when policymakers start panicking. The last fewtil days for that to happen. Here we are now. Jonathan what a week its been. The table,around collin martin, gregory staples, and michael began in. Michael, i want to begin with you. The Silver Lining at the end of a brutally for many of you out there . Finally, do you start to see the policymaker panic, and should that be were the markets stop panicking . Michael i think thats a real good point. Coming fiscal policy was under way, we knew Monetary Policy was coming our way. The two working together in a cohesive fashion i think it reassuring to the markets. You are seeing some evidence of t
We all agree it will not do much. The economic problem is much more on the fiscal side. The focus needs to shift on to fiscal stimulus now. More coordinated policy response. An all of the above strategy. It is critically important we do that. Dont bicker and argue about doing payroll taxes or paid family leave, do them all. This is what the market needs to see, fiscal policy makers starting to panic. Markets stop panicking when policymakers start panicking. And starting to appreciate the urgency of the situation. It took until the last few days for that to happen. Here we are now. Jonathan what a week its been. Joining me around the table, collin martin, gregory staples, and michael buchanon. Michael, i want to begin with you. The Silver Lining at the end of a brutal week for many of you out there, i know. Finally, do you start to see the policymaker panic, and should that be were the markets stop panicking . Michael i think thats a real good point. We knew fiscal policy was coming our