Concede and what this means for trade deals with china as well. Don i read about the trade deal. It is on the back burner for americans because both candidates, both parties are reticent to sign those deals. We can touch on that, but front and center in the nation is the stepbystep, the back, tweet by tweet with the president , but er than that is the pandemic. It was the oddest of weekends. Francine it was a busy weekend, and here in the u. K. With news that Boris Johnson, who contracted the virus in march, even went to icu, now having to selfisolate after coming into contact with someone who tested positive. We will have plenty more on that , and the consequences for brexit. First lets get to bloomberg renews with ritika gupta. President elect joe bidens top coronavirus advisers say a National Lockdown is not on the agenda. One of them, the former surgeon general, who says the approach to fighting it is a dial that we turned up and down, depending on the severity. U. S. Case records
So that is pretty evenly split, actually. Theres certainly quite a lot of recognition that Central Banks need to think about new toolkits. We are going to go to some questions now, but if you want. O use the platform to submit i think larry gave an excellent description of what the core problem is that the developed world faces, that there is a glut of saving and a , and it of investment really means that we have to have fiscal policy, structural policy, and things other than. Ust relying on Central Banks i think Central Banks need to do what can come about they can. Adopting a system called flexible average inflation targeting, i think this is an appropriate change. Somewhat improve the scope of Monetary Policy to show that shortterm Interest Rates are often constrained by the effect of lower bound. I think it is helpful in preventing a cycle of falling inflation feeding falling inflation expectations, but i strongly believe Central Banks need to be independent and need to do everythi
The coming days will be pivotal in reaching a trade deal. Two of the most senior officials from the Brexit Campaign left Boris Johnsons inner circle last week. The chief negotiator says he will not be changing his position. Hurricane iota will be slamming into Central America today as the strongest hurricane of the year. Now a category five storm, it will bring torrential rain and catastrophic wind to an area still reeling from a storm two weeks ago. Global news 24 hours a day, onair, and on quicktake by bloomberg, 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. U. S. Equities in the green after that positive news on a covid19 vaccine, sending shares tied to an economic reopening higher. Stayathome stocks l
That is the shoes, right . The shoe extension . Francine i dont know if you can hear it, but it is a neighbors. It wont last very long. Hammeringtle bit of there. We welcome all of you here, to the realities of the pandemic. The pandemic is front and center, but there is a lot of other news. I would note pacific rim currencies continue strong. Francine they certainly do, and there is quite a lot going on also in pound talks, so lets not forget brexit and the u. K. E. U. Relationship. Les get to first word news with ritika gupta. Ritika the Trump Campaign is abandoning demands that almost 700,000 is withdrawing a key part of its lawsuit against the Election Results in pennsylvania. It is abandoning demands that almost 700,000 mailin ballots be thrown out because observers were kept too far away from the count. The challenge is now against a far smaller number of ballots, almost certainly just a fraction of bidens lead in the state. Joe biden is Meeting National security experts, but his
Fed vice chair Randy Quarles talking about the stress test next week, seeing dividends might be influenced by the pandemic. He thinks most banks will be allowed to retain the dividends, and particularly with wells morgan believe, and stanley, highlighting concerns about financials recently. So the underperformance today caught my attention. Caroline we get even more insight on underperformance, and what led to the selloff at the end. The northwestern wealth chief manage he chief strategy manager is with us. We were lower earlier and then i got a message from a key r on the bloomberg squawked talking about how the vice chair of the Federal Reserve was saying, there is no limit to fed treasury buying. That seemed to give the stock market a little more support toward the close. Is the fed still the be all and end all, is liquidity still the beall and endall in this market and can we grind even higher as the covid rate is still causing concern . 26 years of doing this, the fed has been sup