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Christine lagarde, president of the ecb, moderated by Francine Lacqua. Francine what a great pleasure to be here with Christine Lagarde, president of the European Central bank, and welcome to the forum here at bloomberg. Everyone is talking about the vaccine. How will that actually change your forecast and the economy if we do get a vaccine early next year . Ms. Lagarde it is lovely to see you and to participate. To your question, i am not sure it is going to be a major game changer for our forecast, simply because what we had anticipated in our baseline was that some stage in the first half of 2021, there would be a vaccine, and that it would be rolled out in the course of 2021. So it might be a little back celebrated a little bit accelerated given the news we are receiving from the various horizons, germany, the ....
Other question is where what has apple become . Tom instead of the markets and the nasdaq war that we have seen , ties into apple, this was actually, francine, a huge deal yesterday. Arguably the biggest meeting they have had in three years. We are not going to go apple fan boy on it and explain all the stupid is that and the other thing. But i also want to go in with alex webb, sort of the racket that theyve got where everybody has to upgrade because this is old technology. This phone is a failure. I have to get rid of it. Francine the question i have been asked the most is, do we have 5g here, and people just dont know yet. Lets get to the bloomberg first word news with leighann gerrans. Leighann prospect of another stim list package before election day look bleak. President donald trump and Senate Republicans are at odds. The president is urging them to go big or go home. Senate majority leader mitch admitting to aly vote o ....
5, 6, seven major stories, are driving us forward. Simply an open question with all that is going on, what has your eye this morning . Jonathan the italian bond market. I know that feels a bit off the beaten road, but right now rallying aggressively over the less capital weeks. Look at the spread of btps to german debt at the moment. It is about 20 basis point. That was about 280 earlier in the year. That is one to watch in the debt markets. Tom bond price up, yield down. What is the why . Is it a flight to quality . Jonathan reduced redenomination risk, i am not sure we are completely there yet where we can say that this market now trades like a proper sovereign. What that means, we used to question how long some of these countries would play into the euro zone. The risk of redenomination, moving out of the euro and being repriced in a different currency. The fiscal backstop of a couple of months ago, even though it has not been fully implement it, i think that gave people some confid ....
Board, again, trying to challenge the tesla hold on the market. Wm has a factory in shanghai. Lets check the markets. Risk off on the u. S. , falling 2 on wall street on the back of concerns about u. S. Jobless claims. The virus, above 4 million cases now in the United States. And as we said, concern that the economy in the u. S. Is in trouble. Screen, read on the broadly across the msci asiapacific, down. 6 . On the mainland would just talked about the proposed ipo by wm motors, small caps setting off more than 2 as we get for the end of the week. Ong kong looking attractive to investors, it seems, down. 2 percent, up despite concerns highlighted earlier. Weakened byyuan. 1 , currently around seven in terms of the offshore yuan. The aussie dollar and the japanese yen, looking at that as well, the 10year basis point, 58 for the 10 year as a result of the risk off we had at the end of the day on wall street. Chinese, 2. 91. Gold at ....
All right. I dont consider myself a journalist. And, nobody else would consider myself a journalist. I began to take on the life of being an interviewer, even though i have a day job of running a private equity firm. How do you define leadership . What is it that makes somebody tick . We are here today with chuck schwab, one of the bestknown figures in the American Business world, certainly has been so over the last several decades because of his ubiquitous face and his ads, but also because of the Great Company he has built, which is one of the leading Financial Service companies in the united states. He has now just written a book, called invested by Charles Schwab and i want to talk about that and his life, which is incredible. Let me start by asking about s ....