Friday coming off the exhaustion of all of that central bank news, the analysis of the markets, the big tech earnings. I would focus on this may day, on the persistent theme, the dawning awareness about a seriousness a pandemic continues to be. One lighter note, there is a beach war in america. The governor of california is shutting down the beaches while alabama and texas are talking about opening the beaches. That is the distraction in a very difficult virus statistics. Howcine it is interesting in the u. S. It differs from state to state. With the bloomberg first word news in new york city is Viviana Hurtado. Viviana we begin with u. S. Federal reserve expanding the scope of its main Street Lending program. Now businesses with up to 15,000 employees will be eligible, so will those with up to 5 billion in revenue. The central bank is expanding its paycheck protection facility. This after the initial round of funding was spent in under two weeks. European central bank looking to ease
Threatens to escalate the trade war with china if a deal isnt reached. He says the deal is close but provides view details. Spains ibex is the worst performer. The party is still short of a parliamentary majority and tullow oil and the iea wants global demand. We are live at the ubs European Conference where well be hosting a global panel in about 40 minutes time. Charles plosser and peter praet, the former chief ecb economist good morning one of our top stories today, trump has called on the fed to cut Interest Rates to negative he resumes criticism of the Central Banks policy and insisted the bank has restricted the u. S. We are actively competing with nations who openly cut Interest Rates so that now many are getting paid when they are paying off their loan. Negative interest. Whoever heard of such a thing. Give me some of that our Federal Reserve doesnt let us do it later today, Jerome Powell is set to address the state of the economy to congress. The central bank said the rate cut
Its treasuries. And doing more in china. We believe we can take care system na echo ecosystem. We need to look at the entire picture. Nejra and heightened tensions. President trump sends another 1000 troops to the middle east. Nancy pelosi calls the move deeply concerning. Nejra welcome to daybreak era. It has just gone 6 00 a. M. In london. Looks like the equity markets are in weight and see mode. Killing time until we hear from jay powell tomorrow. We closed flat on the s p 500 yesterday. The 10 year yield goes down to basis points. We are not seeing any curve flattening or steepening. On a back foot. One at the aussie, that is that has been underperforming. As the r. B. I. Signals another rate cut. Bouncing back after a few days of losses. Two weeks of off gains for global stocks and Credit Suisse says we could see a markup. Let us check in on the markets in asia. Juliette saly has more from hong kong. We are seeing the msci asiapacific index in the green for the first time in five
The markets are rebalancing. Lets see if the traders wind up agreing. Chinese leader is going to maralago in florida. Oining us now is kevin cirelli. Kevin last week he was tweeting it would be a difficult meeting and then he tweets there will be a lot of great things coming out. Here is he headed . Kevin north korea saying if china wont handle north korea then the u. S. Will have to do it alone. Two things, National Security as well as trade policy are the top two items on the agenda for the summit in florida for later this week. Of course President Trump has tough talk for china on the campaign trail saying they were currency manipulators and saying they havent gone that far yet in his administration but did of course last week call for the reviews and executive orders with Foreign Countries to see which countries are taking advantage of the United States, whether or not china makes that list remains to be seen. David kevin, give us the perspective from the president s view, what is
Could lose credibility if inflation does slip. Francine welcome to the pulse live from london. Manus french Prime Minister has said this morning that president hollande will meet with obama in washington and putin in moscow next week. Francine overnight starts destroyed islamic states headquarters in raqqa. Hans nichols is standing by in brussels. Lets get across to guy johnson in paris on the ground. What has the french Prime Minister been saying this morning in regards to security spending . In regards to a variety of issues. The radioas on confirming essentially what has president said to the joint session of parliament yesterday. The budget deficit rules, gone. We are going to spend some money and make sure our Security Services have what they need to take the fight to i. S. We are going to have more soldiers, more customs guys, more prison guards. All of that money is going to be spent. That means that france is essentially going to miss a 3. 3 deficit target next year and its bey