Fastest pace in three months. I think probably the fed needs to be here, but the october number is the one you want to look forward to. Lets get the totals of what we learned today. It is kind of a good news, bad news day in terms of the economy for some we have had one good, one bad, and michigan is kind of neutral. Retail sales of 1. 9 in the month of september, much better than the forecast and much better than the. 6 gain the month before. Retail sales, ex autos also big. Car sales were strong during the month. And then we look at the control group, the part that goes directly into gdp, and that was percent inly up, 1. 4 august. In august it was down by. 3 . A significant boost for retail sales in the u. S. Economy in september. On the other hand, that news on the manufacturing side, Industrial Production falls. 6, a lot of that because airconditioners were switched off, utilities went down. When youre factoring production surprisingly went down by. 3 . That was the bad news for to
You go to safety. Youre going to buy volatility, yields, bonds, and the dollar. 10 year yield now 75 basis quite a move from just a few days ago. Crude battered, beaten up today. Less demand for those oil prices. Guy absolutely. Lets recap where we are and what is going on. The german chancellor Angela Merkel currently meeting with heads of the german states. We are going to hear from her we think when that meeting wraps. We are probably likely to hear from her as well tomorrow morning. We are also getting Emmanuel Macron a little later on. Both countries moving toward more restrict of lockdowns. Lets get the latest. Maria tadeo joins us from brussels. Theres a lot of ideas floating around. None of this will be official until both Emmanuel Macron and Angela Merkel speak. The idea is we are moving into something that looks like a fulltime lockdown in the case of the french government, that we understand is seriously considering a onemonth lockdown that would start thursday night, going
Treatment for covid19. He removed his mask before giving a thumbs up to the cameras. Global stocks see modest gains. His return comes as the cdc says coronavirus can spread indoors, in the air, beyond six feet. 34 u. S. States see more virus cases than a month ago. And the chicago feds Charlie Evans tells bloomberg he would welcome 2. 5 inflation. Jay powell and Christine Lagarde speak today. Annmarie good morning. Just gone 6 00 a. M. In the city of london. There is a lot to really digest with what happened overnight in d. C. The president of the United States spent 72 hours at walter reed hospital. He returned to the white house, a quite dramatic return. He walked up to the balcony of the white house, removed his mask, flashed a thumbs up, and saluting to the cameras. It showed a defiance of the virus, to Public Health measures. He is eager, you sell what he said at the top of the hour, to project strength in the face of the virus, but it has killed more than 200,000 americans. Be th
65. 00 was the expected number. Remember that we have seen something of a bounceback, but not a complete bounceback in this data. In terms of how we think about this, are there more jobs becoming available . What type of jobs are becoming available for the mid people being laid off right now . How easy is it to recycle this labor market . Alix not to mention, how easy is it to quit your job and get a new one . At story, President Trump the white house after three days of covid19 treatment at walter reed hospital. In a video, he sought to play down the virus that has killed more than 200 and thousand americans. Pres. Trump dont let it dominate 210,000 americans. Pres. Trump dont let it dominate. Dont let it take over your lives. We are the greatest country in the world. We are going to be back out front. Alix despite the president s triumphant rhetoric, his doctor did warn he is not entirely out of the woods. Joining us is Bloomberg Health reporter Michelle Cortez. Onwing what the presi
Particular group of industries and people that are directly exposed to the pandemic. Who come ofople their old jobs may struggle to come back them because people will take their time in going back to certain activities that involve a lot of direct contact with other people. I think the right thing to do and the smart thing to do for the long run is to continue to support those people as they return to their old jobs or find new jobs in different sectors of the economy. Great. When you spoke to us in 2018, the fed was just at the beginning of reevaluating their framework. That younce learned are particularly keen on some of the estimates that you showed of how the phillips curve and inflation trends had flattened over the last decades. Those realizations helped inform the feds decision to engage in the average inflation targeting model. In the spirit of careful what you wish for, should we actually see some of those trends start that itt, do you worry may actually be difficult to turn s