Absolutely extraordinary. I know lisa is going to touch on this. Can we all focus a moment on 800,000 in claims at 8 30 . What is still involved in our politics and our markets is a labor economy that is, to be polite, fragile. Jonathan secretary mnuchin throwing some cold water over that. We need to talk about the new restrictions across the continent in europe. The economic recovery in europe was already fragile, already stalling. These restrictions will make that worse. Tom ive so glad you bring this up. You and i have been going back and forth on this since you got up at 9 00 a. M. London time. What i really want to focus on is the federal solution and application in europe versus the statebystate solution in america. Is that accurate . Jonathan youve also got the local issues in the United Kingdom that have really brought london into the equation. The north of the country was facing much tougher restrictions , looking down to london and asking, what about them . The answer is lond
Month high and europe a different story. The economy lost momentum unexpectedly. Michael is here for the breakdown. Michael the narrative in europe playing out as europeans forecasted. They are now seeing a covid come back and slowing Economic Data. Indexes, thetiment pmis, is this month better than last month or worse . The consensus is it was not as good or worse. You can see all of us the euro zone in france, germany, they saw declines in the manufacturing and services pmi and france taking a big hit, dropping into contraction territory for the manufacturing pmi. Germany a little better. Manufacturing improved but services and composite well. Composite in all three areas following the weakest representing three position of lockdown measures due to the current flareup of the virus in europe. Those of the countries that a lot of in the curve. We saw in the minutes earlier this week at the ecb that policymakers are reluctant to embrace the forecast at the july meeting because they were
But im good and im back. Tom we are thrilled that you are back, and this illness is something, whether it is the flu or covid or whatever. Betsy grace at Morgan Stanley yesterday, and she said she is focused on the original moment we had in earnings yesterday. We will see that with j. P. Morgan and wells fargo. As you mention in your opening, the major thrust here, country to country come is on lockdown, and if and when anybody can really wish country to country, is on lockdown, and if anybody can relinquish the quarantine on society. Francine we will have a full round down rundown on the possibility of a vaccination, but we are nowhere near that yet. We also have to look at antibody testing. Lets get to the bloomberg first word news in new york city with viviana hurtado. Viviana President Donald Trump hopes to reopen the u. S. Ahead of schedule. The president saying within days the administration will issue guidance for governors who want to relax social distancing practices. The pres
Yields keep on creeping up. This is the position we find ourselves in. We were looking for 1. 7 not long ago. The yen is weakening in the broad face of what has been Dollar Strength out there. Thai baht unchanged. Not surprising. Interest Rate Decision later on today. Possibility of another 25 basis points being cut. Cny sub seven, that is why we wanted to bring this up. Just edging stronger it would seem. Ourselves with the rally taking place which also petered out in the u. S. , though we had record highs for a couple of the indices, but it was a mixed bag overall is there also a sense that we could end up with a positive feedback loop as people have this fear of missing out on the rally . Lots of first word news telling us about the world. Here is su keenan in new york. Su we start with robert kaplan. He has told bloomberg that hes comfortable with the recent steepening of the yield curve, saying it is a sign that fed policy is in the right place. Hes previously voiced concern about
Up stocks. Chinese stocks fell by the most in three weeks. The shenzhen composite index plunged by almost . 70. That is the latest move in what has been a roller coaster couple of months. Friday the chinese regulator said it would reduce buying as well as volatility. The price of oil is falling again. Trading comes to a six year low. ,est texas intermediate fell trading below 42 a barrel. There is speculation we have not seen the end of the global glut 30 from prices down this year passed high. In bangkok, authorities are saying suspects in the deadly explosion we ares were seen on Security Camera footage, and a man in a yellow shirt is a suspect. At least 20 people were killed, more than 100 others wounded during the bomb and 100 others wounded. Screeners of Hillary Clintons email have flagged 305 of them. A federal judge has ordered that 30,000 for emails as secretary of state be released. Clinton has said she did nothing wrong by using a private server. She joked about the messages