On tonights pbs newour. Major funding for the pbs newshour has been provided by e lnt a straight line, and sometimes you can find yourself heading in a new direction. Fidelity is here to help you work tough the unexpected, withinancial planning and advice for today, and tomorrow. P carnegie ation of new york. Supporting innovations in education, democratic engagement, and the advancement of internaseonal peace and rity. At carnegie. Org. And with the ongoing support of these institutions and indivials. This program was made possible by the corporation for public broadcasting. And by contributions to your pbs station from viewers like you. Thank you. Woodruff the toll of the covid19 pandemic is on vivid display again tonight. New numbers paint a stark picture of the cost to the nation, in humannd economic terms. John yang gins our coverage. Yang its a death toll of epic proportions. More than 100,000 americans have now lostheir lives to the coronavirus. But Health Officials fear that be
To chancellor merkel set repair a second round of stimulus up to 100 billion euros. Friendship bars and restaurants reopen. The reopening narrative gaining momentum, but that is not what markets are focused on. It is the increasing tensions between the u. S. And china dominating. When President Trump talked about holding a News Conference about a possible response to china, perhaps retaliation if you will, we saw the u. S. Architect take a hit. We dont have a timing for the News Conference but we have read on the screen in asia, and terms of futures, reacting to u. S. Futures. European futures even more so but perhaps playing a bit of catchup. The 10 year yield is slipping. The yen is strengthening. Oil trimming its biggest monthly advance on record, being swept up in the broader negative sentiment. President donald trump said he will announce you new policies in china. It follows beijings attempt to impose security measures in hong kong. This has further exacerbated tensions between t
Shortly. What do you observe this morning, nejra . Nejra im observing headlines coming through right now from andrew bailey, in the core with journalists he is having right now, that it is clearly a commitment to take action, saying the qe program is highly aggressive and appropriately is so. Also saying there is no evidence the boe is targeting any part of the yield curve, but what is really interesting is we did see a little bit of differing views in terms of the decision today. There were policymakers that wanted to extend qe today, but the reaction to the fact we have had no change in policy today is coming. Analysts say we will get more qe in june or august or both, and the pound catching a bid off the back of the boe forecasting the vshaped recovery. That is what i find staggering. A 15 rebound in 2021. Tom i think you are dead on in that, nejra. There is no question what six out within all the excel spreadsheets and the heroic language at this moment, really with depressionera e
Lagarde,at, christine madame gore gave a of the International Monetary fund, and your conversation with Andrew Bailey. Francine if you distill what we are trying to do, there are three main questions what kind of recovery and recession will be get, the inflationary versus deflationary debate, and the economic scarring. We will try to do that with the bank of england and the imf, touching on what countries may need support in the future. Christine lagarde also extremely interesting because it will be the first time we hear from her since the German Court Decision so we will hear from her about the legality or not about what they did. Tom the complexities of this German Court Decision, George Saravelos out with a blistering note, wondering even if the ecb will respond to the german court. We respond to our first word news. U. S. And china trade negotiators will speak as soon as next week to try to make progress in implementing a phase one deal, President Trump threatening to terminate th
Signaling that it may need to do more to the boe, signaling that it may need to do more to combat lower growth. Bloombergs Francine Lacqua spoke to andrew bailey, the bank of england governor, following that policy decision. Gov. Bailey we are keeping options open on that. Im very clear on that. Other members of the committee thought it was a sensible decision to take in our next meeting, when we may have more information. Francine are we any closer to negative rates, or is that not an option right now . Gov. Bailey we are not ruling anything out because it would be unwise of us to rule anything out in terms of responses. I dont want to say we are nearer to negative rates, but we are not ruling anything out. Francine under what circumstances will we get negative rates . Gov. Bailey its a complicated question. You have to view it in the context of the times, also in the context of the financial structure we have, and what are the consequences of it. I just want to caution, we are nowher