Good morning, everyone. Welcome to bloomberg surveillance. I am Francine Lacqua here in london. A lot going on, because we have Christine Lagarde testifying in parliament. We will bring you anything that comes out of it. The markets focusing on infections rising around the world. They are focusing around the fact that we could see a stimulus. Lets get to the markets. I dont know if we have them. If we do, it could be great, and it would be a good time to look at them. Overall,ok at stocks they are falling along u. S. Futures, tougher restrictions, progress toward a vaccine. We have plenty more of course on that. Astrazeneca at rising amidst positive news on its coronavirus vaccine. We are hearing from Christine Lagarde. We had an exclusive conversation days ago. The focus is on the need for a stimulus. The focus is also on the need for markets to do a little bit more. She said basically the ecb delivered in the first wave. She is talking about the physical packages, on course for a fis
Interesting to see the 2021 look forwards. All we have is good conversation and a look at the tea leaves. Lisa is going to talk about jobless claims and all the rest of it, but i want to look at the granularity. Is a pandemic ago stock, and there is the reality which i believe you mentioned yesterday. I cant remember which property you mentioned it on. You know what . Retail is really struggling. Jonathan this is the story. A stock like macys has done pretty well over the past week, but that is the difference between the ketchup trade the catchup trade and a durable trade. I think that is the story for hours. T couple of we got to get through the next couple of months. Tom i mean, it is a comedy. But this is not funny. In south australia, you can now not walk your dog because of pandemic fears. Talk ofes of the macro the Bloomberg New Economy Forum and the realities that lisa has been talking about here day by day. That gets your attention. Jonathan and initial jobless claims will get
France threatens to get out of the rescue plan altogether. 11,000 jobs slashed, the german giant fights for survival. Welcome to the program. Looking at the futures, reflecting the way the european and u. S. Equity markets closed yesterday. Futures down in europe, mixed in the u. S. , reflecting what we saw yesterday were the u. S. Wobbled into the close at the end of the session. New york schools closing seems to be the factor. Breaking news, some commentary from astrazeneca in connection phasehase two, not the three news we have been waiting for. That is expected to come within weeks. This is more detail on the phase two data. They are confirming the vaccines immune response in older adults, that is crucial considering who is most vulnerable to the virus. The lancet is publishing the findings. A lot of stuff we have heard already from phase three trials more advanced than this from other drug companies. It has not been peerreviewed or in journals. We are getting the phase two study,
Look at the really disinflationary dampening you are seeing in the bond market. I dont want to make a big deal about it, but yield gives way to lower yield. Im looking at fiveyear, fiveyear breakevens, and there is a little bit of an ebb, an increase in the disinflationary tendency. That claimsort number at 8 30. Francine a really important one, and we have some great interviews coming up from the Bloomberg New Economy Forum focusing on health today. A conversation also with bill gates. Lets get to first word news in new york city with ritika gupta. Ritika joe biden warns that the delay in starting the president ial transition could set bet the effort to distribute the coronavirus vaccine. Could setback the effort to disturb the coronavirus fencing. Trump thent Trump Administration is being urged to begin working with biden. Wisconsin Election Officials have ordered a partial vote recount that was requested by the top by the trump campaign. There will be recount in two heavily democrat
Come whichrevious also been revised higher. There was some expedition that as prices come up because of the fact you can get cheap lending at the moment or cheap borrowing , you would expect that at some have, that would start to an impact on a month by month basis. Nevertheless, the market was looking for this month on month number two actually slow, and that hasnt happened, which is really interesting and the light of what we are starting to see in the employment market. We saw initial jobless claims out a little bit earlier on. Youre starting to see the negative data could begin from the employment side of the economy, starting to come in a little softer. Bloombergs mike mckee joining us now with the details of that. Michael at one point on the housing numbers, existing home sales or closings, so these contracts were signed a couple of months ago when things were a little better in the economy, and we got low mortgage rates, so the one thing the fed has been able to do is stimulate