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Market. Three year and 10 year bond options coming in superstrong. Watch how that winds up performing. Time now for todays top market moving news from our new york team and washington team. We want to begin with economic the u. K. Economy shrinking on the 6 in march. Predicting what could be its deepest contraction in more than three centuries. Bloombergs Michael Mckee has more. Michael ask not for whom the bell tolls. It is the u. K. This time. Just one week under lockdown was still enough for a 2 contraction during the first quarter. As you mentioned, a 6 contraction during the month of march. Britain plunging into what may be its worst depression or recession, at least, since 300 years ago. Three centuries, according to those who have been figuring out. Tourism fell by 46 , air transport down 44 . Engine ofpending, the the economy, down 1. 7 in the first quarter, the largest drop since the financial crisis. We got data from the ....
Lets go outfront. Good evening, i am erin burnett. Outfront, Breaking News on several fronts this hour. At the white house, the president meet whiting on stimu. It is a promise from biden to work across the aisle. We expect to speak to reporters after the meeting, well bring you that as soon as it happens. There at the microphone outside the white house. On capitol hill, major deadlines loom in the Impeachment Trial of former president donald trump. Democrats filing, and trump has to give his papers by tomorrow. President trump may add new lawyers to the defense team. If he does, theyll join the Brand New Team as of last night, two attorneys known for high profile, controversial cases. David schoen and bruce castor. David said i represent all sorts of Reputed Mobster ....
Angela merkel does not rule out joint eu debt issuance. Nejra another emergency move from the fed sent stocks and yields soaring, but we are reversing some of those gains today. The 10year yield, we saw the biggest route in 10 and 30year treasurys 1982. We talked seven basis points on that 10year yield today. Asia. N the screen in the moves we saw yesterday in , also theisk on prospect of that stimulus to the tune of more than 1 trillion, but the question for markets is how can risk on continue until we see any kind of inflection rate in global coronavirus cases . Yousef this emergency Lending Program that has come out to try to support primary dealers is front and center in the Monetary Policy side. You mentioned some of the we got on the fiscal side. We are firmly downward, 3. 7 2000. Than also look out for major moves in the commodities and epic space. For the bloomberg ....
George thanks for having me. Steve you have devoted a considerable amount of time studying medicare and medicaid. Legislation was signed into law in 1965 by lyndon johnson. Part of the Great Society program. Take us back to that time. And how this legislation was significant at the time and how it has evolved in the last 50 plus years. George thats a great question to start off with. Medicare and medicaid passed in july, 1965. Medicaid was really an afterthought in the legislative drafting process. The laws ratification shortly after the assassination of president john f. Kennedy meant that there was a greater focus on the medicare law and there were certain historical reasons for this. Medicare began and grew out in 1960 which also grew out of the medical aid for a program, which was a new deal era program that began in the 40s and 50s. For that reason, most policymakers and legislators were focused on delivering medical assistanc ....