Swiss drugmaker roche wins emergency approval ceo tells cnbc it will take more time to deliver a vaccine. It will take years to develop a new medicine, so most experts agree that it will take at least 12 to 58 months until we see effects and available in the necessary quantities for patients. Travel stocks as billionaire investor saying he was wrong to buy into the sector. And the uk looks to overtake itsly as the worst hit country with death toll nearing 29,000 as rome eases restrictions while the British Government plans to ease its road map later this week welcome to street signs. Lets kick off with fresh data this is the eurozone april final manufacturing pmi. This, a number just crossing the wires. It has come in at 33. 4, broadly in line with flash estimates of 33. 6 we in terms of the detail here, the final new orders pmi, one of the components came in at 18. 8 that was slightly worse than the flash numbers at 19. 1 and marks a survey low new orders are looking very, very weak.
An historic and agreement on Irans Nuclear program. The u. S. And other global powers will ease sanctions that have crippled irans economy. That is likely to lead to iran selling more oil, sending the price of oil down by the most in a week. It will have a 60 day review by congress. Israel says it will lobby american lawmakers to reject it. We will hear from president obama in about an hour. You can watch it on bloomberg tv at 7 00 eastern time. Greeces Prime Minister will not be able to count on his own coalition to support pension costs and tax hikes. Tsipras admits the austerity measures to Parliament Today will be set for tomorrow. Lawmakers must approve the legislation before talks on a new bailout. Paul krugman told Bloomberg Europe wanted to less screen to let greece no who is in charge. Paul krugman this is not about how much greece is going to repay, it will be about greece suffering. There is no escape. You do not get away from anything. And greece has made it clear that they
David i dont know how you put those two together. They are two different people. Jon neither do i. Deutsche bank chief economic analyst will be joining us this morning. Futures, a little bit softer today in the United States. In europe, lower for tents. The euro, a little bit weaker. German tenure is the best performer in europe. The dollaryen had a little bit of risk aversion overnight. Gold softer on the day, oil, softer on the day. Two political risks nothing like what we are facing here in the u. S. David the Deutsche Bank stock jon the Deutsche Bank stock, down this morning. Own cryan ripping up his. Urnaround plan the effort include selling part of the Asset Management business. Francine lacqua spoke earlier about the new strategy. Remember, i described as Capital Raising. Yet she need to advance it. I think, one year ago it would have been much more difficult for us. There is still a lot more uncertainty. I feel more comfortable sitting in the seat i sit this year than i would h
Bloomberg that even members of his own party dont want to deal with the European Union. This is bloomberg surveillance. Weve just got to get to some breaking news for you. Weve got Eurozone Services pmi data and the composite coming through. Lets look at the services first. We coming in at 56. This is a miss. Was 56. 5. Ation it is a little weaker than the prior reading. At composite index coming in 56. 4, again a miss on the survey and a little weaker from the prior reading. 1. 0676, pretty much unchanged on that trade. Lets get to your markets. Speaking of things that are unchanged, quiet in equity markets. I wanted to show you the rand. , the randdollarrand strengthening, bestperforming currency against the greenback today. We did see it rebounding yesterday and weve had some news that the markets are reading as positive for president jacob zuma. The 10 year yield down to basis points. We saw the 10 year treasury yield within touching distance of the lower bound of that range it has
On the bloomberg. The reason you do not see a dot beyond on the righthand side, he is saying that is outside of a poor castable four castable forecastable period. This is fascinating. When the summary of Economic Projections came out and we look at that straight up right at the bottom, the answer is there now. Jim bullard. David when you read the statement hes just issued, hes saying a lot of things people the fed is about projecting out into the future well beyond what it can no. Know. S what it can some people think their models are run. Alix how do you forecast a fed that is data dependent . After the dots were released, there was chatter in the market with alie evans statement of a shift in how you view the economy and where you actually think rates should be. Of the f1 all members see are in agreement about the approach to this question. Agreement. In the question is whether other people come to jim bullards side. David we will have a bloomberg exclusive with microsoft cofounder b