Selling. F positive the u. K. Likely to impose 14 days quarantine. We also have the irish tank barely under pressure the irish bank very under pressure. The bank of ireland numbers today. Boris johnson will appear in parliament and a half hours time. Btps on offer as well. We are up by three basis points. What is interesting is the spread between brent and wti widening on that saudi news. Vonnie lets get to the economy now. President trump telling americans to return to work after confirming the outbreak in his own office. Unprecedentedan 20,500,000 jobs, tripling the end limit rate the unemployment rate. We are joined by bloombergs peggy collins. How does it change the rhetoric now that coronavirus is coursing through the west wing . It has touched the Vice President s office and the president himself at this point. Peggy i think for everyone, the virus has pushed people different ways, and closer it gets to everyones families, the more people realize how widespread it has really gotten. I think it just brings it home to everyone that, for many of us , we dont have to go too far to see the own effects in our personal lives. Vonnie he has been wanting to return the country to work since before sorry, guy. Go ahead. Carryon. Vonnie he set easter is the initial deadline, and in fridays report, we saw 2 million, which is still a huge number, say they were permanently laid off, so theres a sensibly 8. 5 million just furloughed, but we dont know that. We dont know how Money Companies can accept people back on the roster. Peggy as you said, that was some of the good news in the friday jobs report, the percentage of people who reported they were out of work because a furlough, but 2 million already identified as terminally cut out of the workforce is a huge amount of people. Our colleague shawn donnan wrote about how for a lot of companies , these notices that companies have to file with layoffs, that they are pushing the furloughs out in some cases into the fall, and that other companies are starting to say they layoffs are going to be permanent. So the Ripple Effects of this we dont really comprehend yet, and we will be continuing to track it, but they are huge in terms of the number of Small Businesses and Big Companies under stress. I am looking at the oneyearone year u. S. Swap market and trying to figure out why we are still negative. The front end of the bond market is starting to get a little interesting right now, and i am just wondering what your views are of whether the bond market can bully the fed into taking u. S. Rates negative. Rates certainly the low on bonds have been stunning, but i will say that repeatedly, chair Jerome Powell has said he doesnt think negative rates would be something that they would turn to, even though they have been used in europe and japan. That negative rates wouldnt be appropriate policy for the u. S. That has been the fed stance, and they have been sticking to it. We are on watch for that, but so far, multiple said policymakers have resisted that call. Guy why is the market doing it, then . I hear what youre saying. Fed official after fed official has said this is not going to happen in the United States, and many in the Business Community are saying the same thing. But the bond market is saying it is a possibility, and has been for the last three days. Dictatexperience would that where the bond market goes come of the fed eventually follows. Is there any chance that this could happen . I am curious why you think the bond market thinks this is a realistic option. Peggy well, i think investors are on watch for how much worse this could get. ,o i think in a lot of cases certainly the bp announced multiple programs that the market is actually following the fed, going where they think the fed is going to backstop, even before some of these programs have actually been set up. The main street facility has been announced, but hasnt been set up, for example. Buoyit has really helped investor confidence, as we saw with boeings bond offering recently, for example. But i do think investors are recognizing the severity of it and really unsure of where this could go in terms of how broadly it could go, and terms of potential bankruptcies for companies. As we just talked about to more layoffs for workers. And if we see the economy start deathsle again, if the go up rather than down as the economy starts to reopen, that could really rattle the markets and further put pressure on. Vonnie peggy, thanks for the update. That is bloombergs peggy collins. Lets check in on the bloomberg first word news with ritika gupta. Ritika President Trump has a tough job this week. He will try to convince americans it is safe to return to work and socialize at the same time he is fighting a coronavirus care in his own office. Vice president mike pence is selfisolating from the white house. On friday, his press secretary was diagnosed with the virus. He Supreme Court is set to hear what could become the biggest case yet involving donald trump as president. Tomorrow there will be back to back arguments. The president is trying to keep House Democrats and a new york prosecutor from seeing his financial records. The court ruling could determine whether the president s tax returns are made public. Saudi arabia is Cutting Oil Output to its lowest in eight years next month. It plans to pump one Million Barrels less than the official targets in the latest opec agreement. Saudi is hoping to prop up a recovery in oil markets. Global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. Im ritika gupta. This is bloomberg. Thank you very much, indeed. What have we got coming up for you . Later in the hour, we are going to be speaking to Southwest Airlines chairman ceo gary kelly. Lots to talk about within the airline sector. Really looking forward to that conversation. This is bloomberg. From london, im guy johnson, with vonnie quinn in new york. This is bloomberg markets. Lets figure out what is happening this monday. Kailey leinz has all the details for the markets. Kailey it is largely a risk off monday. Most of the equity benchmarks are off, with the exception of the nasdaq. Stocks in europe looking at declines of about 0. 5 or more. Yes, you have economies making steps towards reopening, including the u. K. But there are still many Ripple Effect of the coronavirus weighing on risk appetite. That includes the fact that company after company has pulled payouts. This is the calculated payouts for s p 500 Companies Based on dividend futures. Payouts wont reach last years level again until 2027, so investors have to wait seven years to receive the kind of dividends they did so recently. They are only expecting about 415 billion worth of payouts this year. As for some movers on the day, theres a number of covid19 winners. , surging up 24. 5 percent after getting a fasttrack for an antigen test for covid19 that would cost only five dollars and be able to detect infection within minutes. You also have abbott up on emergency use authorization. Meridian bioscience was raised for positivity around its antibody test. Finally, Cardinal Health out with earnings this morning. The virus giving them a boost to fiscal Third Quarter sales. They were up 11 year on year, and that stock is higher by nearly 8 this morning. Thanks very much, indeed. Lets talk about how people are dealing with the lockdown. How are they staying occupied during the pandemic . There is a Company Making leisure activity products that has soared since the coronavirus outbreak started. Correspondent wrote about this for Bloomberg Opinion today. I can say from personal experience that this is what is happening. We have played every boardgame in the house, and my kids play every videogame they have. But they are now starting to get a little bit bored of some of the things we have been doing, so i am wondering if the surge we are seeing in toymakers is sustainable. Reporter you bet it is. And for just the reason you said. People are going to get bored with whatever they have, so the demand, if you will, for toys and games and other similar pastimes like knitting, for example, is probably inexorable as far as the eye can see. I am not just saying that. If you look at Analyst Recommendations compiled by bloomberg, what you see is a stark contrast between all most every other industry and toys and games, where analysts are convinced that earnings and sales will be robust going into 2021. That kind of confidence you just dont see anywhere else in the stock market, because the demand is constant and probably increasing. Vonnie hasbro is up 72 over the last six weeks, and the top five payment top five game and toy manufacturers are up. But why did this not happen during the Great Recession . The opposite happened. The toymakers went into a bear market, as you pointed out. Matt well, yes. The last time we saw games doing as well as they are doing was 2007. At that point, the imf was projecting 5. 2 growth to rise into 2008. There were various signs that the financial crisis was about to bite. Halo 3,s such as capturinguty 4 were customers on different continents. It was as robust as it gets. Globalization was in full flower. Then the Great Recession came, and the euphoria dissipated, and the market for toys and games really was a bear market until 2015. That was a completely different environment, a completely different period than the one we are in now. Seentime, you havent these companies appreciate as fast and as much as they have in the past eight weeks, which is since march 15, when the world and the United States as we know it changed because of social distancing. Is a discounting mechanism. At some point, it is going to look beyond the effect of the pandemic, people being locked up in their homes, and assume that at some point, people are going to get back to normal life, potentially using these services a little less. When do you think that is going to happen . And some of these games are quite expensive. At some point, we are likely to to the ability of Families Fund these costs going down. At the moment, most Families Income is being supported. That is not going to last forever, and at some point, purchasing power is going to go down. It from me to predict the timetable. That is way above my pay grade, and i am not clairvoyant. It will be some ways seenderful indicator if you the industry itself hit a high and start to plan to because that will probably signal that more people are somehow getting back to work as they once did. With the now, even economies of various estates having some kind of gradual reopening, that is not having an appreciable effect because most people are still worried that we could have a second wave of covid19. Because of that the social distancing we are all practicing today is likely to continue indefinitely. Vonnie matt, do you have a favorite . Game that is, not company. [laughter] matt well, i like this story a lot only because my better half is an amazing knitter. And when she told me that there was a shortage, or rather, it was tough to get certain yarns, i thought, this is really a serious calamity. So i guess my favorite is the hobby part of this, which is toys and games. Vonnie love it. Matt, thank you as always. Entertaining and informative in your column. That is Bloomberg News editorinchief emeritus matt winkler. Still ahead, we will speak with alteryx ceo dean stoecker about First Quarter results and why companies are fighting to see a relatively bright spot within the tech sector amid the pandemic. This is bloomberg. York, imve from new vonnie quinn, along with guy johnson in london. This is bloomberg markets. Crossed company alteryx in the First Quarter, despite what the company says is an abrupt and significant change in customer buying behavior. The stock is up 28 year to date. We are joined by alteryx ceo dean stoecker. Give us more details on the rep to consumer change, and how alteryx has managed to pivot in order to service the new consumer. Dean first of all, thank you for having me this morning. Hope everyone is doing well and staying safe. Yes, we saw an abrupt change of the end of q1, and it is interesting, i believe the only publicly traded pure play Analytic Software company, we actually had a stellar quarter. 53 growth in bookings, 43 in revenue. Very good metrics in terms of 20 million in operating cash w, and did the quarter cash flow, ended the quarter. The second half of march, i think you world came to an abrupt halt. The challenge wasnt actually just buying behaviors. It was just getting through the work from home environment, not just on our side, but on customers sides as well. We were still able to execute sevenfigure deals with very complex transactions in a global environment. So super proud of the team, that they could figure out how to adjust and get agile right away. Vonnie im sure you have already dealt with the idea that jp morgan downgraded the company. How are you challenging the types of claims that jp morgan makes . For example, part of the downgrade philosophy was that investors are underestimating the severity of bookings across renewals and new logo businesses. What would you say to the jp morgan analysts that work that . That wrote that . Dean i cant speak to any of the analysts in the models they have created. Space. In a very strong the data science and analytics world is probably, in the long run, going to be the most stable of all of the software set, i believe. So i cant point to why they would downgrade. We did pull our guidance, as most Software Firms did, for the full year. We guided for q2 based upon the visibilitys that we see in the fact that we have. , sore in Analytics Company we dont guess as to what is going to happen in the future. We are very disciplined in what it is we do. We believe that, in the long haul, as we come out of the covid crisis, that as executives around the world start to rationalize their software portfolios, they would recognize that data science and analytics have to be a prowess that they maintain. Dean, you are a classic again it growth company. It is classic organic growth company. It is being driven by new business you are bringing in. Do you see any pickups in april . Can you tell me about what is happening right now . Are new transactions starting to pick up . Dean that is a great point. In q1, we had three under 56 new customers we added to our roster. E added a whole bunch Digital Transformation is a real proposition that csuites are racing towards. I think covid is going to be an accelerant that because i believe it is, from start to finish, nothing more than a data and analytics problem. We had quite a few great customers around the world, in almost every sector. Many of them in some of the most negatively impacted verticals, like hospitality and oil and gas. So we are super excited about that. We actually saw about the same number of new customers that we , 35 percent of those were also in the highly impacted verticals. So i think this is not going to be a vshaped recovery. It will probably be some form of ushaped recovery. It recovers, i think executives around the world are going to double down on Digital Transformation because many of them got caught off guard, and this is an opportunity to heed the warnings around not having and analytics culture in your organization. It is fascinating to talk about this kind of stuff, what is going on, and what kind of pickup you are starting to see as the economy starts to reopen. Dean stoecker, thanks very much. Dean stoecker, alteryx ceo. Still ahead, we take you to the houses of parliament in the u. K. Boris johnson delivered a speech last night on the u. K. s covid19 strategy, which turned out to be englands covenant and strategy. Dominic raab, the foreign secretary, is speaking right now. We will bring you what boris is going to say, hopefully very , whether the Prime Minister delivers a bit more clarity. We will wait and see. This is bloomberg. Vonnie live from new york, im vonnie quinn, along with guy johnson in london. This is bloomberg markets. Lets check in with the bloomberg first word news. Heres ritika gupta. Ritika Vice President mike pence has been selfisolating from the white house. On friday, his press aide was diagnosed with the coronavirus. That brought the virus into President Trumps inner circle. They are married to one of the president s closest advisers, stephen miller. The chinese city where the pendant started has reported its first new infections since april 8. China has been slowly reopening its economy. And encouraging news from spain. The country reported its lowest a list its lowest daily coronavirus death toll in almost two months. The country has had more than 227,000 cases, the highest in europe, and more than 26,000 have died. British Prime MinisterBoris Johnson will flesh out his countrys lockdown, speaking in parliament moment from now. Dons and announced what he called the first careful step. Johnson announced what he called the first careful step. He is facing resistance from labor unions and opposition politicians. Global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. Gupta. Ika this is bloomberg. Thanks very much, indeed. We are awaiting Boris Johnson. He is going to speak in the houses of parliament. They are currently hearing from the foreign secretary, dominic raab. La