discussing enough what the standard chartered bank and hsbc is doing where they are saying they are going to agree to whatever with new security rules of hong kong. how big a deal of this in your london? francine: well, it was quite a big deal when they announced it. i think you and i spoke to stephen engle. he reminded us, it goes to show may be the influence that beijing has on some of these companies if they want to have licenses in mainland china. this is actually quite difficult to dig into the deep root of it. now, we understand that there is a backlash from investors. just yesterday, we had o aviva, one of the biggest investors in a lot of these banks, saying it is decisionable with the of hsbc and standard chartered, it is uncomfortable about the bank s decisions. tom: absolutely fascinating what we see their. we have got lots of coverage through this hour and on through bloomberg surveillance. theill be joined from school of chicago, the former leader of the centra
headline, governor bailey with a negative two year yield. francine: there will be no money for my kid because as soon as i can, i will be spending it on childcare. i asked him whether negative rates was something he would consider. the change in tone between him and his predecessor is stark. governor carney always saying absolutely not negative rates for this country. andrew bailey who has been in charge for about two months, kept the door opened, saying probably not now but because of the severity of what we are facing he will not rule anything out. there is a change in tone on what they can and cannot do. seeinge changes we are from tuesday into this wednesday, chairman powell with adam posen and the pearson institute at the virtual conference today, that will galvanize global wall street. jack ablin here with us in a moment. here is ritika gupta. ritika: we are waiting to see if jerome powell gives anything up about what he will do next. he may call for congress to do more
jobs report and the satisfaction. to be honest, 5:00, 6:00, 7:00 was extraordinary and there was a sense of maybe things will be calm or by 10:00 p.m.. calmer. francine: i know it is just ordinary for a foreigner to see the scenes on the street. the focus now is on what this means for the prospect of president trump being reelected and what it means for social equality going forward. i know we have a lot to talk about and we will talk about that shortly. havens, a huge risk on the markets. be didlian issue, the bg quite well this morning. we need a news briefing from new york city with our first word news. good morning. thousands of people took to the streets again across america to protest police brutality. less violent.be unrest over the killing of george floyd, a black man in custody. the pentagon is distancing itself from president trump morning that he will use active duty military to clampdown on protest. he said it would be better to rely on the national guard for
easing of lockdowns. taylor: i got him steven major you have thes massive helicopter money and stimulus but if the demand does not come back, he is more worried about disinflation, that made my ears perk up. francine: let s get straight to the bloomberg first word news. the european union s executive arm is coming out with its own stimulus package to deal with the region s worst economic emergency since world war ii and calls for spending $823 billion. two thirds will be in the form of grants and the rest will be loans and funded by joint debt issuance. in hong kong, hundreds of protesters returned to the streets demonstrating against china s plan to take more control of the city with national security measures. projectiles.ired the u.s. is thinking of ways to punish china for the hong kong crackdown and is weighing whether to declare the colony has lost autonomy from beijing. there could be visa restrictions for chinese communist party authorities. for the first time, twit
united kingdom, the issuance of a gilt with a negative rate. francine: we have been debating negative rate for a couple of weeks since andrew bailey said they cannot rule it out. is at theates forefront of the next debate. , they say thise is a terrible idea when it comes to pound and then you have a brexit dynamic. negotiations are not going well. andrew bailey testifying in about three hours and a half from now. tom: adrian paul from goldman sachs publishing moment ago, and asmakes a sharp distinction service sector disinflation. in the united states, we see goods deflation and disinflation for some time but a 3% persistent service sector their inflation in the united states, adrian paul looking at the information saying maybe not. service sector deflation is here. join us fory to moments on the conundrum of small and mid cap. news.ur first word ritika: president trump and republican progression a leaders congressional leaders are standing firm against another round of st