Between 5 and 7 . That kind of sets you up for your morning. Dollaryen, safe haven bid full in play. The yen and this was see the safe haven of choice. The long end of the curve taking more of that safe haven demand. Crude rolling over now. You have the virus, what is happening between opec and russia, and now a travel ban, which is going to destroyed jet fuel demand. Really taking it on the chin. Time now for global exchange. We are going to bring you todays market moving news from all around the world. Our bloomberg voices are on the ground with all of this mornings top stories. We begin in washington, where President Trump suspended travel from europe for the next 30 days, effective friday at midnight. The been excludes the you could the ban excludes the u. K. Pres. Trump to keep new cases from entering our shores, we will be suspending all travel from europe to the United States for the next 30 days. The new rules will go into effect friday at midnight. Alix joining me as kevin cir
Billion people. Tom it is nothing more than a states rights issue in the united states, the tension between the federal government and the 50 states. The size of the fiscal stimulus is extraordinary, way more than what we saw from president obama in 2009. Just as importantly, the impulse of the fiscal stimulus over the short term is truly at a wartime level. Francine we are also getting some e flow figures. This is the month of march, german business confidence, and the index is 86. 1 instead of the preliminary 87. 7. March, i dont know whether it still seems quite strong. I know we will speak ahead of the if a in just a second. It is not having a big impact on the so the ifo march is holding on. If you look at current conditions, 93. This was for february, so it is backward looking, it does not take into account a lot of what we saw. It will be interesting to see what the ifo president expects for the future. Tom lets get to the data right now before we get started. They did it is sim
Stimulus. Is there fiscal stimulus in the United Kingdom . Francine there is fiscal stimulus. One of the first things we covered a couple of weeks ago was this treasury and bank of england acting together. The u. K. Probably has to do more, but they were at the forefront of it and they acted in a coordinated action of fiscal and lending to businesses. The loans and credit lines will make a big difference but it depends on when the economy gets back on its feet and when people start going back to work. You put cash into businesses and suspend payments, but at some point people have to go back to work. Tom the president talking of back to work near easter, or part of work part of america back to easter. Gdp for the stimulus and the United States commitment is a huge 5 of gdp and even up to package. Trillion a 2 trillion package. The Trump Administration and u. S. Senate agreeing on the rescue package calling for almost 2 trillion in spending to boost the economy. Deal. Last, we have a af
Down the fort. Action, and as well in those money market funds. I was looking at the statistics. Money market funds pulled in 150 billion this week, while surpassing the peak of 2008. That is where we are seeing the stresses this week. Everyone just wanted cash. Francine whats amazing also is that the conversation started with small and Mediumsized Enterprises that may actually need support. Are we going to have governments take over in chunks some of the Big Companies to make sure they are safe . We will have plenty more on the markets and the economics of things, but lets get straight to the bloomberg first word news in new york city was Viviana Hurtado. Viviana the highest death toll from the coronavirus is in italy, surpassing chinas numbers. Italian fatalities topping 3400 is a nationwide lockdown continues. Europe remains at the epicenter of the disease. France reporting a 41 rise in deaths. Spain, an increase of get percent. Now to the state of california, and governor gavin new
The focus has been on what is happening in washington. It was fascinating to see the fade on equities today. European equities are off session lows. We faded pretty precipitously earlier on. The pound is also off its earlier session highs and has certainly faded the early move. A similar story in brent as well. The initial burst of enthusiasm around that deal starting to ease back a little bit. The real question, this is just dealing with the here and now. Are we going to need further help from washington and other governments around the world to get the bounceback that may some people are looking for . Vonnie just getting a headline now that german lawmakers have approved a 156 billion euro stimulus. A few things happening in europe as well. Back to washington, the white house and senators have finally come together in an effort to bolster the economy. Senate Majority Leader Mitch Mcconnell spoke earlier on the senate floor. Sen. Mcconnell at last, we have a deal. After days of intens