We will bring you those numbers as soon as they get the hit. They may very well impact markets. We will look ahead to jobs number coming up. Job losses could hit 47 million and Unemployment Rate could surge to 32 . Jim bullard is here later this morning, more on jobs, action by the Federal Reserve and what if any rebound we can expect from the crisis. Interview coming up at 7 00. President Trump Pushes Congress to pass 2 trilliondollar infrastructure bill now to help boost the economy along the road to recovery. The president says the bill willing very big and bold. Meanwhile this, the death toll in new york city has surpassed 1,000, mayor bill de blasio joining the call for help as more makeshift hospitals are created. This as more states go on lockdown this morning, mornings with maria is live right now. We want to check Global Market s. Dax index in germany lower by 277. Factory activity in italy contracting at the fastest rate in 11 years. 40. 3 and french factory activity calling
Business economics, its two hours 15 minutes. Thank you everybody for joining us this morning over coffee. The opening session of the policy conference, i am the director of the center of the National Independent business. And i am delighted to introduce the vice chair of the white House Counsel of Economic Advisor. Preparing for the session i found that we have a foundational commonality and he is originally from sweden, im originally from minnesota, the land of american. He stopped a bit short of the minnesota border and currently on leave from the university of chicago where he is the professor of Public Policy studies at the University School of Public Policy. In the Freedman Institute program on research and healthcare markets and policies within the Health Economic initiative. Before rising at the university of chicago he served in several positions including his role as Senior Advisor to the head of food and Drug Administration and as a senior Economic Advisor to the head of the
Director of the center of the National Independent business. And i am delighted to introduce the vice chair of the white House Counsel of Economic Advisor. Preparing for the session i found that we have a foundational commonality and he is originally from sweden, im originally from minnesota, the land of american. He stopped a bit short of the minnesota border and currently on leave from the university of chicago where he is the professor of Public Policy studies at the University School of Public Policy. In the Freedman Institute program on research and healthcare markets and policies within the Health Economic initiative. Before rising at the university of chicago he served in several positions including his role as Senior Advisor to the head of food and Drug Administration and as a senior Economic Advisor to the head of the center for medicare and medicaid services. He also served as a healthcare advisor for john mccain during his president ial campaign. Thank you so much for joinin
The safe haven bid comes off. The selling in the bond market is not as fierce as the buying and the equity market, something to keep note, as the 10 year yield rises 19 basis points. Crude getting back may be half of the losses from yesterday, up by about 10 . We will see. If that can hold. Time now for globe we will see if that can hold. Time now for global exchange. Our bloomberg voices are on the ground with this mornings top stories. We begin with the markets. Stocks stabilizing globally following the deepest equity route since the financial crisis. Joining me now with more is bloombergs dani burger. s p futures hitting their upper band limit, 5 . Here in europe, we see equities gaining about 4 . Yields gaining back. But given the scale of yesterdays losses, this is no ordinary day. Is this a dead cat bounce . Volume has been a touch light. Back. Not coming yields not coming back is fiercely, as you pointed out. Overnight, it looked like u. S. Futures were heading there to lower th
Joe nowhere to hide. Really ugly back to back days to start the week. Scarlet there are plenty of places to hide. Joe 10 year treasury, swiss franc. Scarlet japanese yen. We can go on. Two charts to put this risk asset selloff in perspective. This is very simple. On bottom, bonds of top the one asset class doing well over this time period. On bottom, we have crude, copper. In white, the s p 500 down 6 . Composite in blue, down just 0. 75 may be a benchmark here. 500reason to think the s p will join the dow transports. The 200 Day Moving Average in yellow. On friday, you can see the dow transports going right through the 50 day average. When the dow transports in the past has gone below that 200 Day Moving Average, there has not been an exception. This chart would suggest more term,at least in the near for the s p 500. Worstooking at one of the performing sectors in the s p 500. 4 , theals down about worst slide since 2011. That is as fears of the coronavirus continue. One of the larges