For the first time in three months. It has just gone 6 00 a. M. In london, 7 00 a. M. In paris, 9 00 a. M. In dubai. Who do you believe . Larry says there will be a 20 upsurge in the United States going into the second half of the year. Morgan stanley says we will have a short, sharp recession. A vshaped recovery on the way . It is reminiscent of the great brexit bubble that many people wrote about but never lived. Our next guest talks about risk on, risk off. We will talk about the markets in a moment. Did you have a good weekend . Nejra i did. We can go out shopping again to nonessential shops in the u. K. I personally will not be rushing out. Last week was definitely gay risk off week. Was definitely a risk off week. Andrew shaw thinks that investors should position as such, that stocks and credit will be marginally higher and tighter. Looking at cyclical and value stocks. Wells fargo and ing are among those also seeing the selloff as temporary. Read on the screen in asian equities.
Largest number of new cases in just one day and mexico are also contributing to those high numbers Mexican Health authorities reported a daily record spike of more than 2973 infections on thursday alone while argentina pushed its critical deadline for its 65000000000 dollar debt latin americas 3rd largest economy agreed to continue talks with their creditors through june 2nd and in a rare move china drop its g. D. P. Target for 2020 the worlds 2nd largest economy made the decision this was due to uncertainties over the coronavirus chinas economy contracted by 6. 8 percent in the 1st quarter well it was as its 1st decline in more than 4 decades and in a Virtual Meeting the World Health Organization said its working nonstop since the start of covert 19 to really help coordinate a response. Do you miss the beginning of the pandemic doubloon john howards world good day and night to coordinate the Global Response also the levels of the organization we are today did the plan earlier this mon
France and germany and others remove travel receptions spur tourismu. To and britains nonessential shops opened today as well. Stocks fall on fears of a wave of rhinovirus infection. Over 20 u. S. States see a pickup. Tokyo sees the most cases in over five weeks. Beijing reports another outbreak. Plus, bloomberg learns of an internal plot at nissan to take months beforeown his arrest in japan. The information comes to light and is due to face a trial in tokyo. Just under one hour away from the start of cash equity trading. Lets take a look at how far down futures have fallen, right now looking at 2. 5 drop on the stoxx 50. The benchmark index. Futures down a little bit more than that. Teachersok at u. S. As well. S p 500 emini contracts approaching 3 losses. Nasdaq futures off. What does the gmm look like . Anna ill get to the gmm in just a moment. Pricel giant revising its assumptions and expecting to take a charge in the second quarter. They see a noncash impairment and the write off
This is bloomberg surveillance. Im Francine Lacqua in london. A lot of fears in officer while fleeing during an arrest late friday. The police chief resigned hours after the killing and the officer was fired. Three dozen people were arrested after people set fire to the restaurant where the shooting took place. Global news, 24 hours a day on air and on quicktake by bloomberg, powered by more than 2,700 journalists and analysts in more than 120 countries. Im dani burger. This is bloomberg. Francine . Francine thank you so much. Chinas new virus wave, beijing has over the weekend. Chinese Authorities Say risks it will spread are high. Cuomo york, governor warned against triggering the second wave of the virus. He said he would be invoked reimpose shutdowns. Is the us for the latest head of Bloomberg Intelligence here in europe and longtime pharmaceutical analyst. Always good to speak to you. When you look at the possibility of a second wave, cases in the u. S. , cases in beijing, as is l
Two or three hours ago. The vix comes in from 44 to 41. There is a whole idea of an expanding pandemic all the throughout multiple geographies. There is optimism with Research Houses reaffirming some form of vshaped recovery. It is the oddest monday i can remember. Francine it is a pretty odd monday, although i have to say i have had other odd mondays. Thats get to first word news with ritika gupta. Economyin china the keeps inching its way out of the coronavirus, less industrial output rose 4. 4 percent in may from a year earlier. At missed estimates, and consumer demand is sluggish. Retail sales declined more than expected. So did fixed asset investments. The white house top economic advisers rejecting a more cautious outlook for the economy. Larry kudlow says the chancellor will be the chance will be for a vshaped recovery. He told cnn the Unemployment Rate will fall and 2021 will be another solid year. Kudlow also said the 600 a week on his payments made some americans will end jul