Debt as collateral for loans as eu leaders meet today to discuss a 2. 2 trillion revival plan. Loan provisions jump at Credit Suisse as the lender builds reserves to withstand the coronavirus pandemic. We will speak exclusively with the banks new ceo just after 9 00 a. M. Hopes forrs crafted higher profit in 2020. And the earnings deluge continues. Revenueetting hermes out, down 6. 5 percent, which does not seem quite so bad all things considered. Anna we are getting numbers out of unilever as well, so the earnings daily continues. Things not looking great for unilever. Delucia the earnings deluge continues. Growth of zero, so 0 . The estimate was of an increase and itr just over 2 , seems on pricing and on volume they missed estimates. Pricing looks to be lower than estimates and volume looks to be lower than estimates. That seems to be where we are on the top line. They are also saying they are withdrawing their previous 2020. Uidance First Quarter underlying sales slack, as i mentio
Up 0. 8 nonetheless. A lot of companies suspending guidance, but a few green shoots as well. For example, cap talking about upsizing for example, gap talking about upsizing its bond offering today. That is really rallying today. 11. 8 monthere down over. Month for retailers in general yen strengthening today month over month for retailers in general. The yen strengthening today. Waiting for the ecb later this week, as well as the fed, for some forward guidance. At 13. 15. Ng the vix at 32. Companies withdrawing guidance at a rapid clip this quarter. Our next guest says we need an event that could offset the black swan pandemic. Lets welcome Jason Trennert, strategic us Jason Trennert, Strategas Research partners chief investment strategist. Say, as aave to market for does but, i am not counting on it. Ash a market participant, i am not counting on it. It is certainly not my lane, but i think all the experts i have listened to would tend to think that the white swan event in terms of a
Invited to form israels next government. Hello governments around the world have stepped up restrictions on the movement of their citizens to reduce the spread of the coronavirus the number of coronavirus deaths recorded in italy has now risen 25 percent just in the past day to over 800 as europes worst outbreak of the deadly virus continues to expand italy has 25000 cases of the highest number recorded outside china and spain became the 2nd european country to impose a nationwide lockdown its confirmed 2000 new cases and the number of reported deaths has doubled iran has announced more than 100 people have died in the past 24 hours and confirmed cases there are nearing 14000 to hans says its fight is being severely hampered by u. S. Sanctions and then the u. S. Increased screening measures for people returning from europe have caused chaos at airports the u. S. Has imposed a ban on non americans traveling from European Countries including the u. K. And ireland or brennan is joining us
Billion will be used to protect german jobs and businesses. Prince charles has tested positive for the coronavirus. That is according to the press association with which cites the royal palace. Old. Rinces 71 years the report says he has been displaying mild symptoms about is in otherwise good help good health. Global news, 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. Im mark crumpton. This is bloomberg. Scarlet vonnie it is 5 00 p. M. In london. Im vonnie quinn. Welcome to bloomberg markets. Here are the top stories on the bloomberg and around the world that we are following. As mark mentioned, the u. S. Senate is planning a vote on what is being hailed as the biggest economic rescue measure in u. S. History. It is more than a 2 trillion spending of rates to bolster the u. S. Economy but will it be close to enough . Stocks may be climbing again today. There is still stress in parts of the market. The st
Federal reserve vice chairman speaking in washington to the National Association for business economics, saying that the fed is close log monitoring the coronavirus. So maybe a slightly different tone than last week. He said it will be a noticeable impact on china in the First Quarter, and that could spill over to the rest of the global economy. Too soon to speculation on the size or persistence of those global effects the probability of rate cuts reaching alltime highs for the individual contracts, april, a first duty now at 63 , it is probability of a second customer, and now over to 50 for a third cut in december for the first time, so the majority of position in the mart right for you, sara, going along with a huge decline in the tenyear to alltime lows and the downdraft in the stock market is now for there to be three rate cuts this year from the federal reserve. I know we parse every word from every fed official. Is the bottom line here that the fed is maybe storming to warm to t