Hello to everyone from geneva, and that uh o headquarters. Welcome who headquarters. Welcome to this regular covid19 briefing. There were more than. Thank you. Good morning, good afternoon, and good evening. E are delighted to be joined thank you, tarik. Good morning. Good afternoon and good evening. As tarik said we are delighted krytalina, the managing director of the monetarily fund. Elcome, my sister. She will say more in a few minutes about the Economic Impact of the pandemic and what the imf is doing to support countries and the Global Economy more than one million confirmed cases of covid19 have been eported to who, including more than 50,000 deaths, but we know that this is much more than a Health Crisis. We are all aware of the profound social and economic consequences of the pandemic. The restrictions many countries have put into place to protect health are taking a heavy toll on the income individuals and families and economies of communities and nations. We are in a shared
They have very often less resources to protect themselves against this crisis help any konami crisis. We know that in many countries Health Systems are weak. We know that in fight in flight to safety a lot of capital has left the merging economies the developing quote nearly 90000000000. 00 have flown out this is way more than during the Global Financial crisis. And some countries are highly dependent on commodity exports which prices collapsing there hit yet again it is paramount for us to place these countries and especially the weakest among in the center of our attention the same way the virus hits Vulnerable People with medical preconditions hardest the economic crisis hits vulnerable economies the hardest and that takes me to my 3rd point we ed the i. M. F. Are mobilizing strongly working together with the world bank and other International Financial institutions bringing the world together. To provide protection against this crisis we have one trillion dollars war chest and we a
Hello to everyone from geneva, and that uh o headquarters. Welcome who headquarters. Welcome to this regular covid19 briefing. There were more than 400 journalists watching us on zoom, as well, with a number of questions waiting for our guests today and today we have a special guest. That is the managing director of the International Monetary fund. She will join this briefing to about the Economic Impact of the covid19 pandemic and the response of the International Monetary fund for journalists who are online and wish to ask questions, please click rays hand. We will start. Thank you. Good morning, good afternoon, and good evening. We are delighted to be joined by the managing director of the International Monetary fund. Welcome, my sister. She will say more in a few minutes about the Economic Impact of the pandemic and what the imf is doing to support countries and the global economy. More than one million confirmed have beenovid19 reported to who, including more than 50,000 deaths, b
600 gaining. A lot of the focus is on earnings and the economic backdrop. 1134. Ollar 1 it has fluctuated but is very arrangedbound. Rangebound. Coming up, the World Economic forum in davos. We bring you all the biggest names in banking. Lets get straight to first word news in new york city. We begin with the new york senate approving Donald Trumps new freetrade agreement with mexico and canada. It handles the president and a major win ahead of impeachment. The overhaul of the agreement was a priority for mr. Trump. Mitch mcconnell called vote a rare moment of bipartisan cooperation. The white house broke the law in withholding aid the ukraine. Accordingting to an independent watchdog, saying the president should not have delayed money. This is a key part of the impeachment case against President Trump. , quoteg with them obsessed with the u. S. Trade deficit. This is according to bill hogan, saying americafirst policies are bringing about a priceless moment for global trade. This came
Basically pleased everyone. There was an upgrade at Morgan Stanley and that is another stock at the top of the s p 500. A new twentyyear issue according to the treasury that has yields a little bit higher. Highs, that is the story. Volumes reasonably good around 1 . Some decent data coming out of china. That is helped the mining stocks. The pound tracking lower. Sales. Tail keep an ion the eurodollar, as well. 110. 8 is a line in the sand. Things a start to get interesting. Down by. 4 . We have a bank of england meeting coming up. Lets stick with the stories and talk to our guest who joins us in london. Peter dixon, commerzbank. I want to start with the bank of england. I have a chart here. This is the probability of a cut from the bank of england and it has skyrocketed. We are up to 75 and it is happened quickly. Is it a done deal . No, but the market is telling us something. The balance of probability is clearly in favor. What we want to see is pushback. The market is driving in this