So what weve got to do is identify the threats that we have its crazy Going Foundation let it be an arms race is on all sides very Dramatic Development only mostly im going to resist i dont see how that strategy will be successful very critical time to sit down and talk. Join me every thursday on the alex so im unsure when ill be speaking to get off of the world of politics sports business im show business ill see that. Global markets plummet amid widespread talan and this time while at the culprit this does boom but the one business show you cant afford to mess im christiane and im bridgeboro in washington coming up the market bloodbath rages on amid infection fears and oil has stalled with prices dropping below 40. 00 a barrel we take a look at the big picture and what the future may have in store. And the World Health Organization says the possibility of the corona virus becoming a pandemic is the very real well break it down and discuss what can be done to control the spread of the
To pipeline to germany by flooding the market and sinking prices russia sees an opportunity to crush the us shale industry which is dangerously levered to the hilt russia is also fed up with cutting production outputs time after time while us shell producers each time up production to fill in the market as a result saudi arabia cut its crude price as much as 6. 00 to 7. 00 per barrel and is looking to raise its daily alpo by as many as 2000000. 00 Barrels Per Day as it too is ready to fight for market share in the u. S. Oil and gas industry is facing attack from 3 sides falling prices from reduced demand a Global Movement to divest from fossil fuel and crushing debt loads the industry has about 86000000000. 00 a rated do the next 4 years and as analysts have warned before below 50. 00 per barrel Many Companies will be unable to service their debt obligations this in turns has the Banking Sector as these. Companies start defaulting big banks including j. P. Morgan city Group Wells Fargo
Damage. China near a takeover of the airline hna, saying it wants to stem the economic fallout from the coronavirus. Cruise passengers return. The first batch of hong kong residents from the diamond princess are due back in the city today, but there is lingering confusion about their arrival. U. S. Attorney general william barr tries to invoke an old law that protected tech companies. Ike google and Facebook Paul nothing has been happening released since you have been gone. Lets check in on futures in asia today. New zealand already trading at the moment. X higher by a quarter of 1 . 1 in by 1 5 of australia. 771 millioned profits. Pretty flat. Qantas seeing an impact from coronavirus. Few catalysts to watch out for. Aussie jobs expected to rise a little and china expected to cut its loan prime rate. We have machine tool orders out of japan as well. Emily i want to look at where u. S. Markets closed today. Lets get to bloombergs taylor riggs in san francisco. Taylor risk on across the
Meaning less demand for oil. Meanwhile similar story in bond market, yield on 10year treasury below 4 tenths of a percent overnight. Now we are staying right under and it is down 28 basis points. Again, another indication of a recession at hand. The 30year following 1 for the first time in history. The 30year bond, the yield there at. 883 . Thats down 40 basis points this morning. Global markets reacting to all of this this morning in the stock market. Deep selloff in europe. The cac quarante down 335 points. That is 6 and a half percent and dax index in germany lower by 672. Overnight in asia across the board. Chinese experts tumbled in the month of january, more signs of trouble in japan as well. First quarter gdp lower in japan showing the economy contracted 7. 1 from the previous quarter. Thats a sharp contraction in japan. This on top of the Coronavirus Crisis, cases in the United States and abroad are growing. The white house looking into emergency measures. Overseas italy report
Reach. I like real businesses, real clients, real revenues, real profits, they have got all of it. Abigail the imf predicts growth will rebound in 2020, but the director issues caution. Monetary policy space is shrinking. Abigail and the ecbs bill blaine has his insight on challenges ahead. Even though the Manufacturing Sector has faced a lot of challenges, but overall domestic demand is significant and continues to be. Abigail it is all straight ahead on bloomberg best. Hello and welcome. Im abigail doolittle. This is bloomberg best, your weekly review of analysis and interviews from Bloomberg Television around the world. Lets start with a day by day look at the top headlines. The human cost of the coronavirus continued mounting continued to mount as the week began, with reported cases nearing 75,000. And as expected, more and more companies are cutting revenue forecasts in light of the outbreak. On monday the warning came from apple. Shery apple is the latest company to issue a virus