jonathan ferro, lisa abramowicz. lisa: this is bloomberg surveillance. tom keene it, jonathan ferro, lisa abramowicz. jonathan ferro has stepped away. he left, and myself here to hold down the fort. tom: life is so much easier. lisa: for him or for us? tom: both. lisa: the news was encouraging out of congress with the stimulus package getting past. today, the news is grammar. a grammar pandemic, a grimmer. you can see that throughout the morning. tom: it s been agonizing, particularly for the people of the u.k.. don t meet indoors on christmas day. that s what this has come down to. the ramifications include futures. this raises a question about inflation, the fed printing all this money. thisig question it, will cause inflation? not necessarily if there is a pandemic. that could drag on longer. we have to say masked and distant. tom: the real yield was horrific two hours ago. now, -1.05. that s lower by two basis points. that is much worse a number of hours ago. lisa, what g
cheerleading forward as we expect politicians to do. the underlying math on the thursday past was outright graham. outright graham. whether it was germany or russia. increasedew york city 9.8% yesterday. that is a huge fall back from the end of may story we have been getting. francine: if you look at the pattern, if it is anything like we saw in france, gets better and then gets worse and then get better. bear with us and good luck to everyone. let s get to the bloomberg first word news in new york city. there china hasn t had an economic report like this in decades. the coronavirus pushing the country s economy into a contraction in the first quarter. gdp shrinking to 6.8% from a year ago, the worst performance since at least 1992. recovery will not be easy. coronavirus has hammered business around the world. china will have to demand will have to rely on fragile domestic demand. it is a three-phase process. the president says some phases could begin literally tomorrow
carnage in these markets, you were seeing risk off across asset. let s start with the asset markets, euro stoxx dropping for the first time since january 2 by 1.9%. u.k. equity markets closed for the bank holiday, and we are seeing a lot of red elsewhere in asia. the chinese equity benchmarks are dropping as 6%, the most since 2016, futures pointing lower. gains in u.s. equities on friday following the jobs report, signaling to markets that the economy is strong but inflation is low risk. we could see a down day today. meanwhile, treasuries not trading right now with the holiday and the u.k., but when the treasury markets open in the u.s. session, are we going to see the 10 year yield drop? that is what futures have been indicating. the you boo weakening the most in three years. we have seen some moves in terms of the authorities in china, a cut, and some reports that state funds may be looking to stabilize what s been happening in the equity markets, perhaps trying to give a
we are seeing markets a little on the down side. a lot on the big week of monetary policy and oil you can see american $52.81, yen one of the litmus tests with risk and chinese markets bolstered a little bit by the for freeing up $37 billion lending. coming up on bloomberg we hear from oil and middle east. to the t let s get bloomberg in new york city. after the shutdown the the wall street journal he doubts a deal can be next lapse of the tphebgs funding. white house chief of staff cyst trump is prepared to again if they don t reach an agreement. new poll shows a sizable majority of americans think the u.s. heading in the wrong 28% on the right track the lowest during term.ent trump s it was taken before the end of t the shutdown. howardstarbucks chairman schultz saying he is seriously considering running for 2020.dent in not only the fact this besident is not qualified to the president, but the fact that consistently re not doing what is necessary on ehalf of the ame
matt: let me give you the spanish gdp growth. you re talking about that. we do see spain s quarter gdp rising. the estimate was for 2.5%, so bank . helpful to should be the european numbers, although france yesterday was hurtful. here, you can see the euro-dollar trading, though not much has changed. the imap is concerned, he saw green across pretty much all of the industrial sectors. as anna said, more treat them trick today. although this month has been a hell of a trick for equity investors who are along these markets. consumer discretionary stocks are not holding up as well, health care either. but there have been individual earnings stories that could move separate from the rest. what do you see in the mrr? anna: let s have a look at those, we see how individual stocks are performing. l oreal up by 5.6%. another boost from china. luxury really leaving in this business to be growth since 2007. a strong story coming out of l oreal. despite the fact they are producing capac