Interest rates, remains unchanged for the recent rise in covid19 cases. This runs an hour. The pandemic continues to cause tremendous human and Economic Hardship in the United States and around the world. The most important response to this Public Health crisis has come from our healthcare workers and remaining grateful to them and many other essential workers for putting themselves at risk day after day in service to others and our country. All of us have a role to play in our nations responsibility to the pandemic. The Federal Reserve remains committed for using tools to do what we can to do as long as it takes to relieve stability and be as strong as possible. And lasting damage to the economy. In recent months Economic Activity picked up as the economy began to reopen. Many businesses opened their doors, restarted production and more people left their homes to engage in various activities which as a result Household Spending looks to have recovered half of its earlier decline, like
Bloomberg surveillance. We welcome all of you. Markets on the move. Price upcoming yields down. With that away important claims number. Jonathan just a sense of risk aversion. Everything you expect playing out. Ive said it before, i will say it again. For most people come of the gdp numbers are for the economic historians. The payroll claims, the jobless claims are for the traders. Intothe high data folds the ugly gdp report. What do you see within your reading of the linkage of the American Economy into your bond market . Lisa that is what i am struggling with right now. I was looking at the yields, the rate that these companies are charged to borrow money. The yield is almost near a record low at about 0. 5 away. What is the message from that . Economically, how do you connect that to anything going on with the jobless claims, other than just what the fed is doing to stimulate growth . Tom jon ferro, answer the question. How can you have a default dynamic that we have right now . We
Increasing a little bit from that level. A line in the sand with a lot of money flowing in. Taking a look at the etf, its amazing, up 9 10 of 1 . Now,the pound right comments coming through from michel barnier, indicating he thinks a deal as possible. Thats the most positive ive heard him be for quite some time. The market certainly latching onto that. Coming up, we are talking cars. Joining uscitroen later on, releasing a new electric car. Hows that going to sell in the current environment . We will talk about that more broadly in the car market. As they say we are coming to the end of the second quarter, which is certainly something spending a little time worth thinking about. The first half of the year has been quite a roller coaster but one that has been defined in so many ways by unprecedented action by Central Banks responding to an unprecedented crisis. Joining us now to break down the genesis of the rally that we are seeing in risk assets right now, mike mckee. Mike, the crisis
You just heard steven major of hsbc talk about the recovery that is out there, and it is a mystery. Already come our conversations this morning have really showed the massive ambiguity we have going into 8 30 this morning, and then jons conversation with Lawrence Kudlow near the 10 00 hour as well. It is an extraordinary day. An up market, and some stasis in the bond market as well. But we have said this all morning. It is not just about the payrolls report for the Establishment Survey. It is about the slew of Economic Data we get out today. Jonathan it is also not just about the data. It is also about the reaction to it. How will the administration respond to the bounce in the Economic Data, and how will it shape the fiscal effort in the month of july, when clearly, more help is needed . My personal worry is not that they dont something. I think for many people, including the likes of pimco, it is a matter of when, and not if. But do they move away from offsetting the income shock tow
About confederate statues and not wanting them to come down. We are in the middle of a pandemic. Is the president more focused on preserving or celebrating the confederacy than getting the pandemic under control . Sec. Mnuchin let me just say i think the president is focused on everything. I think this issue of statues is a complicated issue. There was an operating the wall street journal from the cardinal in new york about the bible and everybody other than mary and jesus christ. I think it is a complicated issue. We need to have a balanced view of history. Reporter what about the white power video . Sec. Mnuchin we are here to talk about economics. Secretary, where is the Treasury Department on sending stimulus checks to families . Are you guys going to be doing that anytime soon . Or are you going to leave it to the court to decide whether the Treasury Department has to do it . Sec. Mnuchin i did not understand the question. Was it on stimulus checks . Reporter mixed status families