President trump is striking optimistic tone. Were opening up this incredible country because we have to do that i would love to have it open by easter. Cheryl we will get allstar analysis from the host of this show, Charles Payne will be coming up very shortly. Plus weve got a feel good story that you have to hear. A pizzeria owner new jersey, pulling out all the stops to make sure his employees get paid during this crisis. All that and more on making money. Cheryl and President Trump is wrapping up fox news town hall on the coronavirus response. That actually just happened a few moments ago. At the same Time Congress is still trying to put together a stimulus package for americans. We have blake burman live at the white house with a lot more as the president just finished talking to fox news. What do we know, blake . Reporter a lot of news here in washington, d. C. , on both sides of pennsylvania avenue. Lets start here, chairman, at 1600 as President Trump wrapped up the fox news tow
Guidelines relaxed, which areas of the country may have their guidelines deborah will talk to you about that and tony in a few minutes. Well Start Talking about that we have to open up, we cant say lets close. People dont want to close, john. I say it again and again. The reason i do, i want you to report it eventually. Go ahead, steve. Reporter how will that work without widespread testing . Reporter president xi, what do you want to talk to him about . It is his call. I will talk about whatever he wants. I think well have a very fruitful call and a good call at 9 00 tonight, please. Reporter [inaudible] well be talking about that. Well be talking about the virus. In the back. Reporter thank you, mr. President. Jobless numbers, market rallied again. A record. Reporter largest since 1931. Do you think Economic Uncertainty has passed . No, not yet. It hasnt passed but it has come a long way. I think they think were doing a really good job in terms of running this whole situation having
Senate. Were monitoring a anomaly happened in the markets here. You heard about negative Interest Rates abroad. That is almost Standard Operating Procedure particularly if europe. We have them here, yield on one month bill, three month bill, below zero percent. You effectively paying the bank for the honor of holding your dough. It is an anomaly. It worry as lot of folks who seem to think if this become as more established trend it could be a real problem. This, sort of statistical quirk is something were following because it is just limited to really the shortest and most immediate side of the socalled yield curve. It has not hit anything north of the one year and 10year, stuff that we follow closely. But it its something that has now happened for the first time in American History but if the stock market is worried about it, again as i stress, it has a funny way of showing it. Back to capitol hill. Well be monitoring that. Also monitoring what is happening on the floor of the senate
Check, the fed is announcing some coordinated central bank swap line enhancements. We saw them a couple of days ago increase it for a variety of Central Banks. Now those swap lines will have further detail and enhanced swap lines. Absolutely. This is missioncritical right now, figuring out how we get dollars to everybody that needs them is the most important thing, it seems, at the moment, when it comes to financial markets. That is going to certainly help. My question today, does a weaker dollar indicate that the funding stress and design for dollars is beginning to ease off a little bit . We will get an announcement from the chancellery of the exchequer on further measures to help out the u. K. Economy. Similar move when it comes to the 10 year. In terms of stocks, we are seeing a bid finally returning to stocks, and finally enough, i think it is worth paying attention to the fact that we are getting some of the cyclicals in particular catching a bid today. You can see the travel and
Those are leading the gains today and recovering at the peak now 35 or so40 , from those record highs. David now we have an announcement that the fed is including their money Market Facility to include muni debt. Taylor this is interesting. There was a lot of talk on there. The muni market in general is much more illiquid than the rest of the market. Not surprising to see that in a week like we just had, with stress showing up even more and more. Muni traders continue to say there are some shortterm issues , but theres a lot of issues going on on the long end. I believe in previous laws, the fed could buy these up to six months. This expands it to longer dated maturities. We are getting a lot of that illiquidity on the tens and on that yield curve. Also, they had record outflows, according to as of yesterday. I would imagine this gives a little bit of some confidence to some money market facilities to also include muni debt. David what about all this talk about bailouts . There are neg