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Tomorrow. We will have our fed coverage as usual. Then onto an exceptionally busy end of the week. Theres no question about it, you wonder where this stimulus debate will be in washington by the end of the week and into the sunday talk shows. Jonathan 98 days until the election, you would think washington, d. C. Would get it together. Just as the economy starts to roll over, as that recovery starts to plateau, the collective will to do a whole lot more fades. That is the story, and it is always the story you when you exit the immediate crisis, the collective will fades. Tom Lawrence Kudlow still talking about a vshaped recovery. I am looking at the 3m and 16 , 20 s, unemployment. Where is the recovery . Jonathan as of q3, theres your v. After that you rollover. That is what everyone is expecting, even with the reopening. Everyone expected that mechanical lift as you go from shut down to reopen pretty much every economist expected ....
Earnings from continuing operations was just 0. 10. Terrible numbers from certain sectors. Iously, retail search obviously, retail front and center. Market, kind of a mixed bag. Terrible data, yet equities tried to stage a rally earlier. Now futures flipping into more negative territory. Definitely the eurodollar and dollaryen are two to watch today. The yen was significantly higher thats butt all dies all eyes really on retail data later. Lets get some more market moving news from our new york and brussels teams. We want to start in the u. S. , where we are expecting more of that dire economic data. Many nonessential stores are closed. We also get Industrial Production. Michael mckee, International Policy and economics correspondent, joins us now. Michael i will give you guidance for the year, dismal. It is only a question of how bad they are going to be. Retail ....
Terrible composite pmis from the region. Oil continuing that recordbreaking rally yesterday. Some delegates a little bit more optimistic about getting deals done. Now i want to update you on our top stories from our new york team. We want to begin with europe. Thentioned the economies in slump of unprecedented scale, pointing to a contraction of about 10 . Bloombergs Michael Mckee joins us with more. Good morning, mike. Michael we are getting to the point where Economic Data are almost irrelevant to investors. Yeah, it is terrible. We know that. Weve traded it. Thats why you are not seeing a huge reaction in equity markets in europe because it was largely expected. It is sort of exactly what you think wouldve happened. Services pmis and composite pmis just falling off a cliff. The story in spain and italy there, but also france and germany. Those economies have basically shut d ....
Out from under it. It is time now for global exchange. We are going to bring you todays market moving news from all around the world. Our bloomberg voices are on the ground with this mornings top stories. We are going to focus heavily on the markets. We begin in the u. S. , where the 10 year yield fell more than 1 this year. Here was more is annmarie hordern. Annmarie we are seeing a massive flight to safety. I can show you some of these numbers. Gold trading just under 1700 an ounce. This is the asset to own and this kind of market. Then you have the swiss franc. Deutsche bank said in the recent note we could see parity. We havent seen that since the s p lifted the cap the snb lifted the cap. B 30 year yield went through 1. 5 . Right now, 1. 39 . Three standard deviations. Thats how much we moved to the downside. We have not seen this since 2011. People on wall street say this might be a recession. Alix thank you very much. All of that leading to massive volatility within the equity m ....
Hours as we await the next jobs number. Time now for global exchange. From london to berlin and washington come our bloomberg voices are on the ground with this mornings top stories. We begin with irans response to claims that the ukrainian passenger jet crashed in tehran was shut down. The head of the countrys Civil Aviation authority said this on state tv. Law, i said, based on the there is full coordination between our air defense and civil system. Are Aviation Personnel and defense personnel sit sidebyside, so it is absolutely impossible for such a thing to happen. Alix for more, we are joined by stuart wallace, Bloomberg News director for the middle east, joining us from washington. What is the latest . Stuart tehran came out with that, and they are sticking to its story. They continue to stick to that line desp ....