Everyone here is really waiting with baited breath on who the president of the United States is. We understand through the counting that joe biden could win it. It is razor thin, but we dont know for certain. The markets dont expect some kind of surprise, which is why they are stable and up. The other story is the bank of england, talking possibly about negative rates. Although, not for now. Guy johnson in the conversation with the governor talking about the Downside Risk. I think we have learned earlier this year with thoughts of covid, that we act both andkly and we do at clearly scale. We have a very substantial genocide risk on the forecast, and a lot of that relates to how covid itself will evolve. The bank ofernor of england. Extensive comments on this. Really important interview, mr. Johnson, with Nestor Bailey on the bank of england. I should note, sterling rallies nicely. Some of the headlines this morning are pretty shocking. Let me do a data check. Jonathan ferro just emaile
Jes staley says lets get back to the office. Morei think the banks are of a pressing concern, absolute critical. If you think about the advantage that sector needs to make, the changes in diversity, in terms of gender and race, Corporate Culture really important in a bank as well when dealing with risk. All of these things, i can understand why he wants to bring people back into the office. I suspect it is going to be a little more flexible bringing everybody back to the 9to5. Tom Credit Suisse flexible as well. Francine lacqua in zurich. We will get her in the hour. With our first word news in new york city, here is ritika gupta. Ritika negotiations resumed saturday on a compromise Coronavirus Relief plan. Areblicans and democrats nowhere close to an agreement, under pressure because of people losing Unemployment Insurance this week. A stopgap measure would extend those benefits. Federal reserve chairman Jerome Powell calls it the most severe economic downturn in our lifetime. Powell
Bloomberg surveillance. We welcome all of you. Markets on the move. Price upcoming yields down. With that away important claims number. Jonathan just a sense of risk aversion. Everything you expect playing out. Ive said it before, i will say it again. For most people come of the gdp numbers are for the economic historians. The payroll claims, the jobless claims are for the traders. Intothe high data folds the ugly gdp report. What do you see within your reading of the linkage of the American Economy into your bond market . Lisa that is what i am struggling with right now. I was looking at the yields, the rate that these companies are charged to borrow money. The yield is almost near a record low at about 0. 5 away. What is the message from that . Economically, how do you connect that to anything going on with the jobless claims, other than just what the fed is doing to stimulate growth . Tom jon ferro, answer the question. How can you have a default dynamic that we have right now . We
Group. All of the numbers as soon as they hit the tape this morning. Futures showing a mix bag as you can see, excuse me, we have that is arrows across the board. Nasdaq up 34 and a half, s p is up 11 this after yesterdays crazy lateday selloff. California announced lockdowns and when the announcement came through that really did hurt the market. The dow barely holding a gain. We will see if we can do better today. Well, jumping species. Animal to human virus contraction may become more common. How to protect yourself, plus, ford taking nostalgia route with newest suv back by popular demand. Mornings with maria is live right now. Coronavirus lockdowns in the United States and scaled back reopenings both impacting european markets. As you can see red across the board. Weve had improvement overnight with europe. As you can see the dax and the cac 40 down more than half percent. Not in asia, red across the board. Different story from yesterday morning. We have pressure on markets especial
On a friday in june, this is a huge deal. For me, the headline of the week was qantas in australia delaying International Flights into october. Madame lagarde is on that calendar. Im sure what she is saying come and much of what we saw in the United Kingdom yesterday, is lets get to it and keep the fiscal stimulus pressure going. None of these people are standing aside and relaxing. They clearly seems to be the message. Francine 100 . If you look at the shift of a lot of the language of the Central Banks, they see the range of forecast tilting slightly to the downward compared to where they were months ago. We will have plenty more on the markets. Lets get to first word news in new york city with ritika gupta. Upika china plans to speed purchases of u. S. Farm products to comply with the trade deal. Beijing will buy everything from soybeans to corn and ethanol. Purchases fell behind because of disruption caused by the coronavirus, and the countries have been sparring over the origins o