1 outperforming up a full point. 75 10 year yeild nearing basis points out of safe haven treasuries. 2 . Ollar up approach torelaxed inflations. We will seek to achieve inflation that averages 2 over time. Will achievecy some time. R prof, what do we still need to know . It was powerful and important. Not trying to. Low the ecomony down experienceecade of unemployment. We will take more of a back seat. It even overshoot inflation . Fed wills where the go. Before weation down get to the 2 . Is hot . That is what they arent going to tell us. They dont want to be constrained. Rt japan. Ference countries acted too quickly. Of gdp and is going much higher. Thatdont want to get in situation. Thatwant to go higher and means we will get to the 2 average, which might mean target. N above the 2 are you concerned valuations are getting too extended . The fednk some of it, liquidity support was important to avoid the market disfunction. Sell treasury securities they will sell everything they can.
A white house official says a response could come this week. There has been a breakthrough in libya peace talks. The United Nations says the countrys warring sides have agreed to turn a ceasefire into a lasting deal. Weeks of sporadic violence have derailed negotiations and dashed hopes for a more permanent agreement. Global news 24 hours a day, onair, and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. Im Mark Crumpton. This is bloomberg. It is 1 00 p. M. In new york, six 00 in london, 2 00 a. M. In hong kong. Im vonnie quinn. Welcome to bloomberg markets. From bloomberg World Headquarters in new york, here are the top stories we are following. A sea of red for global stocks. The s p 500 wiping out its 2020 gains and posting its worst day in two years. Investors fearful as the Coronavirus Spreads far beyond china, potentially upending Global Economic growth. Seek safe havens, gold looms toward 1700 an ounce. We talked to the ceo of
thank you for having us, and welcome to luthuli house. it s a great pleasure to be here. how disappointed are you with the state south africa is in today? south africa is undergoing challenges like many other countries. but i think to put us into a category of a failed state, it s an exaggeration. ican give. but you think that s a conversation that south africans are having amongst themselves? well, it comes from pockets of the powerful thinkers in the country who project us as displaying characteristics of a failed state, of course. we may not be too defensive to that. if certain things are not resolved, we will become a failed state. but we are notjourneying towards that direction. but the reality is that if you are a young south african reaching adulthood today, you only have a one in two chance of actually finding a job. 50% of young people are out of work. a state should be able to provide work for its people, should ensure that the economy functions. we have a south afr
features of the economy that is fluctuating at an international level, which has had an impact on our own economy, but also partly some of our own weaknesses in terms of managing the economy well. we are under recovery. and objectively, the covid 19 messed up a lot of countries. the ukraine/russia war in itself has shattered most economies in the world and it has brought a high level of cost of living and a number of challenges that have affected adversely the developing nations. so some of the features that we see in terms of the economy of south africa are not immune to us only. if you look at the state of unemployment in europe, in some of the advanced economies, it is ea rth shattering. yes, nothing like it is here, though. and, mr secretary general, we have to face one simple fact. your party, the anc, has been in powerfor 29 years, and you quite literally cannot even keep the lights on in this country. we have been in power for less than 30 years. and in that. three dec
but right now, south africa is in a big mess, with a protracted energy crisis, shocking levels of unemployment and inequality, and systemic corruption. my guest is the secretary general of the anc, fikile mbalula. is his party about to pay the price of failure? fikile mbalula, welcome to hardtalk. thank you for having us, and welcome to luthuli house. it s a great pleasure to be here. how disappointed are you with the state south africa is in today? south africa is undergoing challenges like many other countries. but i think to put us into a category of a failed state, it s an exaggeration. er. ican give. but you think that s a conversation that south africans are having amongst themselves? well, it comes from pockets of the. ..powerful thinkers in the country who project us as displaying characteristics of a failed state, of course. we may not be too defensive to that. if certain things are not resolved, we will become a failed state. but we are notjourneying towards that di