Surpasses its nordic neighbors. We hear from magdalena andersson. Good morning, good afternoon, good evening, everyone. This is bloomberg surveillance. Im Francine Lacqua in london. Lets look at the markets to give us a sense of what they have been doing. Stocks in europe are rising with u. S. Equity futures. Easingconomy lockdowns in some major countries seem to be Calming Anxiety because geopolitical tensions between the u. S. And china. Shares off in hong kong and sydney. Treasuries dipping in european trading after the threeday u. S. Weekend. I am also looking at wti. That is advancing past 34 per barrel and new york in hopes that the market may actually rebalance after historic output cuts. Lets get straight to the bloomberg first word news. Virus hotspot of europe, yesterday, italy reported the fewest new cases since february. Daily fatalities in the country were below 100 for a second day. It comes as the global death toll tops 340,000, with nearly 5. 5 million cases. Prime mini
Experts call for reforms to combat organized crime. And joining us are oscar with sport and it is confirmed germanys been just legal will restart next saturday becoming the 1st European Football League to resume amid the crowd if i respond to any. We get in the United States with figures just released show almost 3200000. 00 people have filed for Unemployment Benefits it keeps april on track to be the worst month for job losses on record more than 33000000 people have filed for unemployment in just the past 7 weeks and economists say Economic Growth could plummet by 30 percent in the 2nd quarter when the u. K. The picture is also bleak the bank of england expects the u. K. s economic output to shrink by 14 percent this year and unemployment to rise to 8 percent meanwhile the European Unions been warned to brace for its worst ever recession the economy tips to slump by 7. 4 percent after years of growth figures from china suggesting a different picture their exports rose in april for th
Africa. We begin in the United States where figures just released show almost 3200000. 00 people have filed for Unemployment Benefits it keeps april on track to be the worst month for job losses on record more than 33000000 people filed for unemployment in just the past 7 weeks and economists say Economic Growth could plummet by 30 percent in the 2nd quarter in the u. K. The picture is also looking bleak the bank of england expects the u. K. s economic output to shrink by 14 percent this year and unemployment to rise to 8 percent meanwhile the European Unions been warned to brace for its worst ever recession with the economy tipped to slump by 7. 4 percent after years of growth but figures from china are suggesting a different picture their exports rose in april for the 1st time this year up 3 and a half percent after many factories reopened. Our economics editor is watching developments from london. I think notoriously difficult at this stage to actually say how deep recessions will b
Revive its. Compound this bird is closed during ramadan cause of coronavirus restrictions. And in sports the English Premier League is stepping up plans for a return to action the league is meeting to discuss what needs to be done for games to take on. Now an agreement among the worlds Top Oil Producers to cut out for that has come into effect it follows a collapse in global prices spurred by a slump in demand because of the pandemic but the deal to cut out for it came with a lot of infighting between major or producers you might remember they met in vienna early march to work out how to keep prices. Stable but failed to reach an agreement in that meeting opec recommended taking 1500000. 00 Barrels Per Day off the market if russia agreed to cut production too well russia refused. Top producer saudi arabia retaliated by announcing a production increase instead a price war lasted nearly a month and prices dropped below 20. 00 a barrel and moscow and riyadh resolved their differences and
I wonder if you could go back to that and mention why it is a scenario rather than a forecast, is not really a worstcase or how much of a worstcase is it. And if we are really looking to learn and to manage these scenarios, do we not need to be more robust about saying what the worst case actually is . First, the question of a scenario versus a forecast, the , the point applies to both committees. Forecastw, one makes a when one can take a view of the probability distribution of district outcomes around that forecast. Forecastmal to make a and say this is our best collective judgment, and then to publish a range of outcomes around that, and then for the financial policy committee, to look at the less likely outcomes , whereas the Monetary Policy except the central one. I think the judgment of both committees was that this pandemic, the weight is playing to the World Economy and the u. K. Economy, and the Public Health measures to contain it through time and the chance of a second or th