Surveillance. A bit of a different bloomberg surveillance. It has been 10 days that we have foroadcasting from all of our technical operators around the world. Arefocus is on what we seeing in terms of data. Is the euro area. It will give us an indication of exactly what the economy is facing. Euro area preliminary actually, its not preliminary. Anything below 50 indicates a contraction. Lets get onto your markets quickly. Thee is a lot of focus on banks after regulators have pushed a lot of u. K. Banks. European stocks are down. Im also looking at treasuries. Lets get straight to Bloomberg News in new york city. Died from coronavirus. Fatalities top 1000 confirmed cases in new york state. They have surpassed those in chinas Hubei Province sticking with President Trump, he said to announce the deferral of some payments. Bloomberg has learned he has announced a proposal to the late some levees for six months. This would not apply to tariffs the white house has imposed as a result of act
This is a new york pandemic which frankly with the great chart the Johns Hopkins is doing and john von murdoch is doing, new york is essentially the mathematics of catalonia. Francine yes, and the mathematics of milan just outside of that. You wonder if we shouldve started preparing for this as far as resources and getting hand sanitizers and much needed medical equipment earlier. There is a pattern and we have charts charting that. Wuhan and in china in then the epicenter was italy and it is slowly moving to other countries that will have to deal with similar fatalities. Tom some doing better, others less so as well. The economic ramifications to be very clear, worldwide in the last 24 hours, the news in economic america is the furloughs to come. We saw that yesterday with a vengeance from retail. Right now, with our first word news, here is viviana hurtado. Viviana the mathematics of the human toll in spain. Yet. D its deadliest day fatalities,ing 849 bringing the death toll almost 8
Windows cracked open on the island of manhattan, the soft drone of sirens each and every moment of each day. Francine it is terrible. A lot of us have looked at china with our colleagues, and we are partners for many months, and italy. The pattern, we have been looking at curves and we are trying to flatten the curve by making people isolate, but the curve is similar from country to country with a laggard of one to two weeks. You can look back at the sirens and more resources needed for the heroes and nurses and doctors. Here,e have seen a lot and bloomberg graphics with a great chart out on the number of beds in the five boroughs of new york city. , learned a lot from that chart and from the new york times, great log charts showing the pandemic. All you need to know is new york state, not asas a a city, is on the wrong side of these different geographies affected by this pandemic. There were news in new york city, here is Viviana Hurtado. Viviana the largest economic rescue in u. S. H
The consumer staples, bottom fishing on companies and may think have gotten oversold. Companies could benefit from the work at Home Movement which is encapsulating this entire globe. Walgreens, have got walmart and costco among the gainers in the staples space. Theee another winner in dollar. Everyone is flocking to the dollar, the dollar index rising for a seventh straight day, claiming to an alltime high. The biggest loser against the dollar among the g10 currencies appears to be the pound. Romaine yeah. Scarlet lets look at todays market action. We will bring in our live reporter and one of the new voices. What have you been watching . Reporter oil markets were catching my eye. Wti, 14 in in brent. What is moving this action . It is a risk off water market story. Pressure oil as well and youre seeing all of this action move off of the official order from the Energy Ministry to saudi aramco to 12. 3 Million Barrels keep but as for the next coming month. That is how the indication is
Everyone watching parts of the economy shut down all at the same time is like nothing we have ever seen. Superlatives to compare past plunges, but everyone is trying to compare it to what experiences is this similar to. I have heard from people today, and no one had some obvious analogy, whether the cry natural whether the financial crisis, the wake of 9 11. Everyone of these past events was in some way a reminder of this, and that is what makes this so extraordinary. Scarlet and economic damages going to get worse. We heard from france that they are going to shut down all the schools and universities. New york is banning public gatherings a more than 500 people. It is only Getting Started in terms of the realworld effects. Romaine a lot of emotion, a lot of intangible things. Lets get back to some tangibles. Taylor riggs is going to look a little deeper. Taylor let me try to keep it tangible for you. I have three good charts. The first, lets just recap the day, because it has been a l