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Pandemic could do lasting harm to u. S. Productivity. And bnp paribas warns earnings will see a big hit from the outbreak as it takes more than one billion dollars in charges as a writedown. Economyr view, the getting back to normalization will be happening at the best at the end of the year and a return to gdp to normal will not be before 2022. Voice of guidance for those numbers. Warning that profitability could drop as much as 20 this year. Between 15 20 is the warning. In the dropping by 14 quarter but it is the announcer 9rovision covid1 provision. When you think about what has come so far, santander, 1. 6 billion. Deutsche bank was 500 million. What you see here is para bof taking a smack at the equity side of the business. Fixed income commodities rising by 35 . Those are the top line numbers. Let us get to lars maca henil. Were three projections impacting. The cost of risk. 500 million. Literally affect is leading to the accounting. Our portfolios are growing linked to what the ....
Frances lockdown to may 11. U. K. Is planning its own extension this week. The daily rate of death in britain is expected to keep rising. Welcome to daybreak europe. After the best week for equity , we do start on the front foot. Exports in china dropping a little less than expected. U. S. Futures in positive territory. As we head into one of the most uncertain Earnings Seasons on record. A great quote i saw from one of our own analysts talked about the First Quarter being history, the Second Quarter being a mystery. That is how we are set up ahead of the earnings season in terms of equities. The 10year treasury yield is steady. Strongly asng london reopens today. We take a little bit of dollar weakness. You have the Commodity Currencies outperforming. Oil sl ....
Thanksa list yesterday to amazon packages. Yesterday was a key point for the nasdaq at 9000 word we also have a record high. 9000. We also have a record high with apple. A good litmus test when it comes to risk. Ecb Commission President that they may be having to have an extension for the transition. Itiing up, we speak to the c chief u. S. Economist and get his outlook for 2020. Lets get straight to first word news in new york city. Israel wheren Benjamin Netanyahu fought off challenges to his leadership. He won a landslide in the race to lead his party. He will lead it into israels third election. It comes amidst an election scandal for the Prime Minister. He has recently been indicted on charges of bribery and fraud. The transition for the u. K. s exit may need to be extended, according to ursula von the lio ....
Clear winners while the homebuyers, there is less incentive to become owners. Scarlet i wonder if it is a terrible thing to be become like a germany. Joe we do have this history of encouraging homeownership. We got the housing bubble. It hurts renters instead of homeowners. Why not see if it balances out and not give a preference to one or the other . Lawrence the bubble was clearly a mistake and it arose from the subprime lender. From the societal point of view, it will enlarge the middle class , having a nation of property owners. Rather than having a nation of tenants. The fact that we have a solid majority of americans owning a home, and look at the overall wealth situation. Homeowners can only have a net 200,000, while the renters are stuck at 5,000. That is a dramatic difference. In order to a large the middle class, we need to encourage more Property Ownership rather than encouraging renting. Julia could we look at the ....
Number. Dont forget yields at 2. 46. A tear, and crude a little bit down but still above the 61 level. David emma chandra is here with first word news. Emma thank you. North korea has agreed for the first talks with south korea in years. The Winter Olympics are being hosted by south korea in february. North korea has assigned a delegation to the games. Environment to ask the trump thenistrations fight trump administrations plans for offshore drilling. The Obama Administration gave up on drilling rights. In the u. K. , productivity rose in the Fourth Quarter by the most in more than six years. Still, british products is barely higher than 10 years ago. Global news 24 hours a day, powered by more than 2700 journalists and analysts in over 120 countries. I am emma chandra. This is bloomberg. David. David thank you so ....