Radio. Alongside lisa abramowicz, im jonathan ferro. Tom keene will be back with us on wednesday. Erasing the mornings losses. Monday morning, we are faced with vaccine news. Some other news as well. We are pushing things forward every monday, it seems. Lisa although it seems like the market didnt respond so much to that news. There seems to be a lot of positivity baked in. So my people who came on this show were saying if there is any pullback, which there were likely be which there will. Ikely be, buy that dip that seems to be the feeling as we bleed higher towards the end of the year. Jonathan this morning, but theyre not out this morning, requestplanning to approval for this vaccine. What we have to think about is what would the anchor expectations on the policy side and on the data side. Later this week, the chiasm claims, payrolls the ism claims, payrolls. Do people start to get worried about the nearterm future . We hear from secretary mnuchin and chair powell this week. A bit o
We celebrate the opening of the United Kingdom to sport. They can do it. We cant. Theres no question about that. Apple will come out today and do the virtual dog and pony, or whatever they do in the talk about new stuff at apple. And also, we look at the markets, which are up nicely. Jon ferro, there is sort of an effervescence to this monday, even off of the odd political news over the weekend. Jonathan i would say take a look at the german debt market. The 30 year yield has just turned negative once again on the session. Subzero german 30 year yields. I have no idea what the bond market is meant to tell you anymore, given the president of the ecb on the fed. What is the story you take away from a bond market that is in a central bank induced coma, and has been for several months . Tom i look at the swiss 20 year , but the german 30 year can tell you a lot as well. That tells you about the common nation of governor bailey with an essay for bloomberg news, really talking about the hors
Markets and across asset analysis, i think a little history is in order. You need to go back to 1933, just before i entered wall street. You need to go back to 1933 to see the 53 day lift that we just saw. Jonathan tom keene in cash since the 1930s, an unbelievable position hes held throughout the last century or so. [laughter] you have not participated in this rally for a long time, tom keene. Jonathan this is tom this is really important. A great strategist at ubs was , and thato hours ago was the distinction he made. This has been a surge without a lot of volatility and without a lot of volume. Volume is missing, and that is something to talk to our esteemed guest about in a moment. Jonathan just a sense of exuberance in the last couple of days. Later this morning, theres a little bit of data we need to look out for. Lisa at 10 00 a. M. , we are getting job openings data from the u. S. Just looking for a sense of how quickly that is coming back online. Also really important, the Sen
Twoyear is now trading, but that doesnt seem to matter. The majority of debt in europe all undergoing this powerful rally, despite the fact that we are going to see horrific unemployment number in about an hour and a half. Lets get you out of the market moving news from our new york team. We want to start with the much awaited u. S. Jobs data out of april for the next hour. Economists now estimating 22 million jobs wiped out in the past month. Joining me now is carl riccadonna, bloomberg chief economist. It is hard to put these into perspective. Help me out. Morning. D these numbers point to immense disruption in the u. S. Economy, on a scale we really have not whichn recorded history, goes back to either world war ii or the great depression. ,o put some context around this this is far more than all of the job losses we saw during the Great Recession concentrated into a single month. If we take the job losses of the last nine recessions, lump them all together going back to the late 19
Equities not totally convinced. They were higher, then rolled over. Part of that is the u. S. U. S. Futures were a little higher three hours ago. Now weve rolled over yet again. Intocalvasina sees a dip 1700 possible for the s p. Part of the reason we are seeing this is a spike in the dollar index. Causing a lot of pain across the board, whether in the commodity market, emerging markets, europe. The eurodollar having an unbelievable slide. The cable rate at its lowest level at one point since 1988. Time now for global exchange. We are going to bring you todays market moving news from around the world. From brussels to london to lawson can to washington, our bloomberg voices are on the ground with todays top stories. The ecb announced it would do whatever it takes and an emergency Bond Buying Program. Joining us is maria tadeo. Walk us through what we know about the program. Maria first of all, it was unexpected. It took a lot of people by surprise. You have to take a look at the amount