New expectations about how long the covid19 crisis may last given President Trumps comments yesterday along with anthony faucis. Well talk about that in a little bit take a look at treasury yields this morning lets show you where the tenyear note stands right about now. Youre looking at 0. 367. The story we probably tonight talk enough about these days, lets show you crude prices because they fell sharply overnight. Wti crude now trading at 20. 53 if that was the only story around, youd think that would have a huge impact on markets unto themselves. Meantime, an update on the outbreak cases confirmed in the u. S. Now topping 143,000, 2,500 deaths. New york is the epicenter right now with nearly 60,000 cases in the state. Another 13,000 cases in neighboring new jersey in new york city, construction is under way to build an Emergency Hospital this taking place inside central park right across the street from mt. Sinai workers from the organization samaritans purse has begun constructing
It is chaired by former National Security adviser Lieutenant General hr mcmaster. The mpp experts work closely with economic and financial power and our center of cyber and Technology Innovation with the goal of innovating estimates of American Power to achieve Better Outcomes for americans and our allies. It is a nonpartisan policy institute, a source of timely research, analysis and policy options for congress, the administration, the media and wider National Security community, we take no for an funding. This is one of many events hosted throughout the year. We encourage you to visit our website, fdd. Or. We invite you to join the conversation. We are being cautious in response to health concerns. We are live tweeting so please put questions there that will get to me. I am going to start with a brief introduction of our panelists. David kilcullen, i meant to hold up his book, you get yourself a copy. He is a voice on guerrilla warfare, counterinsurgency, with extensive experience ov
Good monday morning. Welcome to squawk alley. Im Carl Quintanilla with Morgan Brennan and jon fortt at the Stock Exchange it is a historic day of trading. We will begin with the selloff which did include a break with Circuit Breakers richard on the stress test for stocks, mike santoli on the crude awakening in oil prices as the saudis launch a price war. Rick santelli on a bad yield trip for treasuries and Steve Liesman on the fear and the feds response bob pisani, lets begin with you and think about whats important this morning. Whats important is how did the system respond to the immense stress that we had today. This is the first real test of the margin Circuit Breaker system set up back more than 30 years ago and we did have a halt on the s p at 9 33 for 15 minutes. The by all appearances it looked like it went well it reopened understandably some bargain hunters there, a mild lift in the markets so the mechanics seem fine. What was distressing to see what happened to Oil Stocks Pu
Issue, a major change in the system for manufacturing pharmaceuticals. The implications of one country and the supply of medicines were astounding no matter what country we may be talking about. Think about it. What if there is a Global Pandemic and its hard to lose products across the world. But if there are heightened tensions within the South China Sea. Everyone could be vulnerable and put at risk. The role of the fda in this situation cant be overstated because the fda cannot be as effective in assuring the safety of the medicines and areas of the world as it can at home. Many of us are not aware of the safe debate co facetoface contact that the fda has with those that are manufacturing our drugs, the inspections they conduct, the very handson work that is involved in making sure that the manufacturers drugs are safe. They certainly set up offices all over the world to do that and that is not the same as having offices, having manufacturers in your own country. And with the u. S. L
I am not saying capacity is the last word in competition but its an important one. This is a question i want to address to both gentlemen. Whats happening . Where are we going . What will you do . How concerned should we be . First of all, thank you for hosting us here today. We have been frequent flyers the two of us in the past, and i appreciate the very sort of serious thoughtful approach that the institute takes to ssues like this. Which maybe arent on the forefront which are important for our country. Mr. Courtney we served together on the committee during our entire time in congress over the last 14 years and again its not sort of bipartisanship thats sort of papering over some disagreements underneath. Really have worked together in just so many ways. Thank you for the invitation to be here today. He comments i think actually snapshot in the immediate present, the fact of the matter is to answer your question should we be concerned, the fleet ing behind the size and whats happen