Back to an eight day holiday. They are putting much playing catchup. We have gains across the board. Shanghai is up 1. 6. These services pmi rising for a fifth month. The you on getting 6. 73 versus the dollar. This was stronger than expected. This is a weak dollar story. Some yen strength there. The bank of canada governors has negative Interest Rates remain an option. Courts seems like a lot of the action is in the shanghai markets here today given that robust reopening after the eight day holiday. We will speak exclusively to the Everest Medicine ceo. This is 27 right now in its debut in hong kong. The Trump Administration signaling that the administration is again leaning toward a largescale stimulus bill. That comes after nancy pelosi pushed back on the idea of peace for a. She is excepting refusing to accept help for airline without wider bill agreed. We want to help the airline workers. There is legislation that we had ed the cares act that we hope we could continue for the next
Call for urgent action. President trump enters the conversation, indicating he may now support a wider stimulus bill. Debates joe biden refuses to push back his next meeting with the president. The white house rules out a virtual clash due to covid19. We have an update from President Trumps physician, dr. Sean conley, about the president s covid19 treatment, saying that the president has been responding extremely well, that his exam has remained stable while at home. President trump has completed the course of therapy for covid, saying the president can return safely to Public Engagements on saturday. The president was just released from hospital on monday evening and his health had risen controversy given the white house was saying the timing of President Trumps last negative test was regarded as private. We are finally getting an update on the president s health and dr. Sean conley saying the president can return to Public Engagement on saturday. Lets turn to the markets with Sophie
Each year. We are thrilled francine could join us on the simulcast because we actually got lucky with what has happened with the scheduling. In france, with some shockingly weak Economic Data. Francine this is pmi. What a delight to be spending four or five hours together. I think they are trying to see who breaks first. My money, i dont know if it is on me are you, actually. We will see after the second hour of the simulcast. France coming out with pmis that were pretty terrible, and that has taken the market by surprise in europe. There was that and germany. Both leaders saying they are hoping not to go into full lockdown again. I know you are also watching the u. S. Postmaster general testifying to the senate. It has really captured the. Magination of europeans tom weve got to postmaster general testifying today, and the huge backstory is do they fold the post Office System challenges into further stimulus. Jeanne zaino made it very clear it is to mr. Trumps benefit to have that dea
That gives you a better indication of where trading would be if we were to open here look at the treasury market. Weve been watching that closely too joe did anyone else see 5. 7 and say, oh, it is not nine . I had the same reaction i saw the etfs, i actually thought, occasion. 5. 6 or 5. 7, which is just crazy. We keep trying to figure out where is the bottom. Look at the 10year note yield of 1. 15 a week ago, you were looking at below. 7 . The moves we have seen have been pretty phenomenal. The government is stepping up its efforts to pass a massive stimulus many are betting on whether it will be big enough the Federal Reserve is pulling out its own tools. We have huge Team Coverage of these major stories. Getting over to eamon. Starting with you in washington. Good morning. It was just 24 hours ago we were talking about the idea that american politics has really changed. Every 24hour news cycle, it is different. And now embracing the idea of sending 1,000 checks to just about every
Risks to the Economic Outlook. The fundamentals of the u. S. Economy remain strong. The Unemployment Rate has been near halfcentury lows for more than a year. The anticipation of job gains have been solid and wages have been rising. These strong labor Market Conditions have underpinned solid household spending, which has been the key driver of Economic Growth over the past year at the time of our fomc meeting in january, prospects for continued Economic Growth remained favorable, and we judged that Monetary Policy was well positioned to support that outlook. Since then, the spread of the coronavirus has brought new challenges and risks the virus has afflicted many communities around the world and our thoughts and prayers kgo out tho those who have been harmed its also disrupted Economic Activity in many countries and has prompted significant movements in Financial Markets the virus and the measures that are being take on the contain it will surely weigh on Economic Activity both here a