Group. And then courtesy of the Chinese Communist party, the virus struck. The president quickly took action and shut down travel from china. Joe biden and his democrat allies called my father a racist and a zeno fobe for doing it. They put Political Correctness ahead of the safety and security of the american people. Fortunately, as the virus began to spread, the president acted quickly and insured ventilators got to hospital that needed them most. He delivered p. P. E. To our brave front line workers and he rallied the Mighty American private sector to tack this will new challenge. Theres more work to do, but there is a light at the end of the tunnel. Job gains are outpacing what the socalled experts expected. But bidens radical left wing policies would stop our economic recovery cold. Hes already talking about shutting the country down again. Its madness. Democrats claim to be for workers, but theyve spent the entire pandemic trying to sneak a tax break for millionaires and democrat
Workers. He said the democrats are still blaming america first. And washington and beijing hold talks on phase one trade deal with u. S. Saying both sides saw progress. This comes as chinas foreign minister arrives in europe today. 6 00 a. M. In london, 7 00 a. M. In paris, good morning to you. Have we reached the top . Have we hit the high . Were in a pecklative bubble. Morgan stanley said were hop hev top heavy, ann marie. And theyre worried about growth. Ann marie annmarie the sales force. Com entered that. His is a tech rally. John just hit the mat and said k is not ok. He said think of it like algator jaws, you could easily get bitten. Manus and the other side of the coin, do we get a woosh that turns into a v. Ill leave you with one of the quotes from the mar began stanley piece. I expect a growth. A growth scare. Followed by a rate scare in the next few weeks and month which is could give us the first tradeable correction in the major equity end cease. How are the end cease doin
Cash trade. Here are your top headlines from the bloomberg terminal. Trumpa on the defensive. The president stands by his handling of the coronavirus on day one of the Republican National convention. Says democrats are still blaming America First Nikki Haley Says democrats are still blaming America First. The chinese arrives in europe today. Demandsla merkel answers from russia after it was putin critict the was likely poisoned. We have figures crossing the wire right now. The German Economy shrank 9. 7 in the second quarter. The initial estimate was for a drop of 10 point 1 . This is a second look here, and so it looks like it is a little better than expected. Still, of course, a massive drop , the quarter over quarter figure. The yearoveryear figure is a drop of 11. 3 , so a big drop in the german gdp. That the bloomberg economists expect a rebound in the second half, and of fullyear drop of about 6 for 2020. Lets take a look at what futures are telling us after the new record highs
Shortly. Onhave got hopes of progress a vaccine and signals that they are making progress in terms of the u. S. China trade tensions. Both of those really firmly supporting the risk rally that we are seeing. Let me show you the state of play with the stoxx story. The back ofming off record highs in u. S. Stocks. The good times might not last, according to morgan stanley. They are saying the market is vulnerable to shocks, especially rising rates. Treasuries are on the back foot as we speak. We are looking at a weaker greenback. 830. Dollar at 1. 1 yeah,ps a little bit of a strange one given the wider risk appetite. The folks at pimco saying the gold rally is it played out yet is not played out yet. They believe gold remains attractively valued, especially in the context of low Interest Rates. Here are some of the stories we are watching. Both of the u. S. And china are seeing progress under their phase one trade deal. They are committed to the success of that. Senior officials from the
People disappear from westminster and it is quiet. You have been reading about the problems, and that is something on the social scene i suppose, and the controversy over which songs should end the problems, a musical event that happens every year. Of course it is much scaledback. I am preoccupied by the latest comings and goings. Tom we have Economic Data on thursday, jobless claims. What is the trend of the economy that you see . Right now in america aims to be almost a two art economy, very separate. A twopart economy, very separate. Anna we are talking this morning about the kshaped recovery. Going to john olsens great piece this moaning about how tech stocks do well, value stocks, other left behind sectors not doing as well. Even as we look at the u. S. Right now. Also really dominating in the news overnight. Anna a recovery, kitd juckes writing on that as well. An unusual august. For our briefing with first word news, there is ritika gupta. Ritika President Trump and speakers at