Pandemic could do lasting harm to u. S. Productivity. And bnp paribas warns earnings will see a big hit from the outbreak as it takes more than one billion dollars in charges as a writedown. Economyr view, the getting back to normalization will be happening at the best at the end of the year and a return to gdp to normal will not be before 2022. Voice of guidance for those numbers. Warning that profitability could drop as much as 20 this year. Between 15 20 is the warning. In the dropping by 14 quarter but it is the announcer 9rovision covid1 provision. When you think about what has come so far, santander, 1. 6 billion. Deutsche bank was 500 million. What you see here is para bof taking a smack at the equity side of the business. Fixed income commodities rising by 35 . Those are the top line numbers. Let us get to lars maca henil. Were three projections impacting. The cost of risk. 500 million. Literally affect is leading to the accounting. Our portfolios are growing linked to what the
We speak with the c. E. O. Imminently. After that Deutsche Banks c. E. O. Joins us. No moves expected from the fed but markets will want clarity on the pace of asset purchases. Before then, First Quarter u. S. G. D. P. Will show the initial virus damage. Magnus they will. Or not. Eantime damage Deutsche Bank, lets get to the eadline. Weve seen this reflected across the spectrum over credit suisse. Good volatility. The americans also doing quite nicelyful. But when it comes to credit loss provisions for this year, youre looking at 35 to 45 basis points of loans. In basis point term , the outflows on management side of 2 billion. Two billion ewe roes, excuse me. A triumphnt 1. 5rk the market accounts for 1. 69. This has been the lead number there is a live on the blg there. The credit loss vision 25 to 75 points. Nejra dont miss our interview. 7 00 a. M. You see futures leading after alphabet results. We could see yields slightly higher. Dollar extend losses an even with oil, yesterday,
Lineup of guests coming. Federal reserve vice chairman will join us exclusively in a few minutes for his first interview since last weeks fed meeting. Well also pespeak with the ceoo human there is a and a massive afternoon of earnings headlined by disney, ea, beyond meat and activision and well peek with actvisions ceo ahead of his Earnings Calls after the numbers come out as i said, were at 1. 9 with 59 minutes left lets moex fowlkes on the big stories. Meg has new developments on the treatment and vaccine front but mike, lets kick things off with you in the markets yeah, another day of fairly orderly levation in the indexes. Today its a broader rally even though its been led by the big tech stocks. A chart of the s p going 50 0 going back a year, were back up to the upper end of this crash levels last september, october, sort of going back to early 2018, an area where we gave a little friction to the rallies, but clearly, a market is acting as if big investors feel u underexposed to
Country. It is going to be a tremendous feeling up optimism. I think the Third Quarter is transitional. We are transitioning into, but it is a transitional period. I think it is going to do good. I think the Fourth Quarter is going to be fantastic. I think next year, all of the fruits of what we have done together between the doctors and Business People and yourself, thank you very much, you are a doctor, all the work from the task force, the people that have worked so hard, we will have a tremendous year year. You will start to see that in the Fourth Quarter, maybe even in pieces of the Third Quarter. That is very transitional. Is there a day of reckoning coming back out vonnie no, pres. Trump no, it is about growth. We could have done it the other way, you spend you dont spend anything and you are flat for years. We have to throw money at it. But we drove money of at the people that lost money unfairly. You saw people yesterday at the white house, they were down and out and became al
Offset those nearterm disruptions. Does not going to be able to go on a cruise. This is a potential supply and demand shock. The supply shock, now and oil price shock. It is difficult for Monetary Policy alone to reassure markets. Monetary policy has to go to zero. Monetary policy is at its limit. It is not sufficient. It is wasting valuable ammunition. Just cutting into it is ineffective. We have much further to go for it to be truly effective. You need massive, not kind of, massive monetary and fiscal stimulus. The monetary response has been there. Focus needs to shift onto a fisc onto fiscal stimulus. Jonathan the key question, what will stop the bleeding . City,g us in new york michael and alexia of invesco. It got real and it got real quickly. Tom extraordinarily day expert and airy day. I disagree to the parallels of 1987. The price changes are there but this is a medical event. We saw the ncaa giveaway on madness. You have all the other news around including mr. Macron becoming