Go higher. The crash stride an hour away. Lets get your top headlines off the bloomberg terminal. China p. M. I. Data Beat Estimates but it is a mixed picture for asian stocks and u. S. Futures turned in the case negative. The w. H. O. Said the coronavirus outbreak in europe may be approaching its peak but across the atlantic new york city reports a 16 increase in deaths in just six hours. Plus lenders from howards bank to unicredit halts dividends at the request of the b. B. C. Well speak with the chair to have Advisory Board in just over an hour. We do see futures positive here. Certainly in germany. 3 4 of a percent. Up on the dax futures. U. S. Futures we pointed out are down right now. Of course that can change. Volatility is the name of the game these days but we see a little bit of a split in terms over the risk indicators. Anna, what do you see from your g. M. M. . Anna before get to that, lets get to breaking news. We have numbers coming through from shell. They are talking oo
Billionaires adding more than a trillion dollars to their wealth this year. Lets get straight to the burning issues. With me is jason kelly, sonali basak, and Patrick Connor clark. The Public Markets have been shrinking. Give us a sense of how much we have seen the public world contract. Jason its dramatic. Obviously, im here in the heart of it in San Francisco, where Companies Stay private for longer. What that has meant is, over the last two decades, about half of the Public Companies have gone away, they are not publicly traded anymore, and that has been a boon here, Companies Stay in private for longer, but it has life implications for investors. A sense of whyt so Many Companies are deciding against going public, why they are sticking with private financing . The moneynly because is absolutely available. Here in silicon valley, we talk about venture capital, but private equity, we are talking about 4 trillion plus under management when you talk about private equity writ large, inc
Thought that was a little unfair given that i havent given the panel advanced warning of that. Thats right. So im joined here by olivier now at the peterson institute. Loretta loretta mester. And paul krugman, the economist at City University of new york and columnist for the new york times. Krugman is the guy who makes all journalists nervous because he seems to be more productive than the rest of us and thats kind of frightening given that he does all these other things on the side, but we ask discuss those things later. I wanted to start by asking each of the panelists what they took afwra the away from the conversation we had this morning. I want to start with olivier who makes the observation in the slide you see behind us thats been made about how the wage phillips curve behaves perhaps as one might have expected, but prices arent rising. So the question is what the hell is going on . Okay. So i had prepared a slide in anticipation. I think it has survived the previous three hour
Questions relevant. Today one of the most vexing questions for people who participant in markets, but thats a different part of the world, is that inflation has refused to rise, much less persist, at the 2 targets. Key question is, why . While history will be the judge once the data has been interrogated, we dont have time for that, because todays policymakers and investors need to act and to do so require at least a rudimentary answer to this puzzle. Today we have gathered some of the leading experts in the world. Inflation didnt fall as much during the Great Recession as the models anticipated and hasnt risen as much lately. Is it dead or just dormant or has the death been much exaggerated. In my experience, wiped capitulation is the first sign of the bottom. Thats kind of where we are right now. Has Monetary Policy been so well anchored. Have globalization and Technology Made raising prizes difficult . Has the economy evolved in ways the models simply havent been incorporated . And
The president accusing Prime Minister theresa may of making a mess of brexit. He said the u. K. Will have a new Prime Minister soon, good news. In the markets, we are seeing risk off attitude. You want to buy the dollar. Equity futures down. 4 . Semis could get particularly hard. The chip guys have three months of inventory stacked up. Yields going nowhere in the u. S. Oil a bit firmer. You have some iran conflict there, the military playing hardball with bp. Altogether, it is a by dollar story, sell u. S. Equities buy dollar story, sell u. S. Equities. We are joined by Lisa Abramowicz and michael mckee. 72 hours, has a busy giving a speech to open this Boston Press Conference and then going down to d. C. Michael you dont have to pay any attention to boston. Towill be fed by satellite the conference. Tomorrow, you have to be sitting in front of your bloomberg terminal and watching jay powell. He has to ratify the idea of the month, which the markets are anticipating, or we will have in