The gloom crew. They have been wrong, wrong, wrong. We will reassess. We start strong with james bevan in a moment. Francine we have a lot of Economic Data that could support the rally or not a little bit later. Consumptionat price and other things we need to watch out for. Lets get to first word news in new york city with ritika gupta. Joe biden ritika joe biden wants to change the slogan from America First to americas back. Restore u. S. Ties with International Organizations that President Trump spurned over the last four years. President trump heads to pennsylvania in his campaign to overturn Election Results there. He will meet with state republican lawmakers examining accusations of voting impropriety. Pennsylvania has already certified that joe biden won the election. Trump supporters complained that observers were not allowed to be close to virga two workers counting votes. U. S. Health officials are working on guidance to shorten the 14 day quarantine period if they are exposed
Up to the top of lafayette park, but really it is a nation that awaits the next step from the president. He was out tweeting in the vicinity of 12 00 midnight on general powell. We will talk about that today. It was an eventful weekend and it continues right into this monday. Francine thank you, tom. We will have more on that and now we will get straight to first word news in new york city with ritika gupta. Ritika the u. S. City hit the hardest by coronavirus starts to reopen today. New york city will allow construction and manufacturing at wholesale trade to start operating again. Rios Retail Stores can offer instore pickup. If all goes well, new york and reexpand the can expand the reopening in two weeks. Theggressive proposal from minneapolis city council. Majority of its members say they do this they support disbanding the city police department. That comes as the state launched an investigation following the death of george floyd. One city councilmember says she wants to end poli
The Commodity Currencies are doing well. The aussie is outperforming the u. S. Dollar. Brent crude now more than 35 a barrel, up by 8. 5 . Vonnie in the u. S. , a nice bounce this monday even as we head into the last half of may. It seemed like maybe there is some coming on, plenty of optimism. Including this new Moderna Vaccine going to trial phase. The nasdaq is up 2. 4 in the s p up 3 . All groups in the s p are higher. The biofarma index is the laggard, but still up 0. 8 . Below 29 right now, and one other asset to mention would be the offshore yuan much trading at 7. 123 five. A very distinct weakening as the rhetoric grants up again against china. Letst will be interest talk about what is happening in the european economy. We are awaiting a live feed from the german chancellor Angela Merkel and french president Emmanuel Macron, scheduled to speak to reporters this hour. This follows a videoconference between the two leaders. They are said to be discussing a coronaviruseuro recove
What is so important is a massive shift and the quality of the riskuncle relations this morning. I dont want to over of the riskon relations this morning. I dont want to oversell it, but it is that type of monday. Francine we will ask how some of these countries are doing with lockdowns in a second, but first lets get to first word news in new york city with viviana hurtado. Viviana as soon as may 15, that is the date could begin reopening. Governor cuomo laying out a phased plan that starts with construction and many factories. He said he would probably begin upstate before moving to the new york city area. Yesterday the state reported 367 deaths, the lowest in almost a month. To the u. K. , where Horace Johnson is back at work. The last cup where Boris Johnson is back at work. The last couple of weeks he recovered from coronavirus. In his first public statement, he urged people not to give up on social distancing measures. He said ending the lockdown now would risk a second spike of
So no, we are not at the reversal rate, and we are certainly not at the lower bound rate. If in the future it is necessary for the purpose of dealing with the risks at the time to address that, we will do so. Point, i think ive dealt extensively with these issue limits. All i have to say at the moment is that we will use all excess abilities in the framework of our Asset Purchase Program. There in mind, by the way bear in mind, by the way, to this person on the line, that we are likely to see increased debt issuance on the part of a few countries, if only to deal with the fiscal resources, but they will have to mobilize in order to put in place the Health Care System that will be needed to respond to the spreading of the disease. That is also a factor to have in mind. Let me ask you a question about the timing of your decisions. When did you realize that this situation is getting out of control and you need to come up why did youge, and not act directly after the first g7 call . Where