Make concessions on fish that has led to concerns among officials that he could hurt efforts to reach a wider trade deal between the eu and the u. K. They have said there can be no deal without agreement on what access eu boats will have to british waters. Onbal news 24 hours a day air and on bloombergquint take, powered by journalists and analysts in over 120 countries. I am Mark Crumpton. This is bloomberg. Vonnie it is 1 00 in new york, 6 00 in london, 1 00 a. M. In hong kong. I am vonnie quinn. Welcome to bloomberg markets. Here are the stories were following. White house chief of staff mark meadows is optimistic President Trump could be released from the hospital this afternoon. The latest headline throughout the hour. Again asties higher investors hope a stimulus deal may come soon, among other reasons. We talk to valerie grant, Portfolio Manager at alliance. Internal documents from exxon wasl reveal the company projecting an increase in co2 emissions of 17 by 2025. That exclusiv
Michele. This is one of the most difficult things to accept, that this market does not have to reflect what is going on in this economy. Can you speak to that . Bob i can speak to that because im in the bond market and it is reflecting perfectly what is going on. We just printed 33 gdp. There is a giant hole that we think will take 10 years to fill the output gap that has been created. The fed is telling us for a long period of time they will keep rates at zero because they have to bring the cost of funding down across the system so that any kind of recovery takes hold. Slowly, Bond Investors are recognizing that, and that has emboldened them to move further up the curve both in terms of duration and lower in credit quality. Jonathan we have had conversations about market distortions. The equity market, Big Tech Companies dominating the benchmarks in the u. S. What is the cleanest trade in fixed income to play an economy that would take 10 years to fully recover . Bob there are two cle
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 British Retail Consortium saying total sales down 19. 1
Has reported a records rise in new code with 19 infections for the 4th day there were all tally now heading towards 25000. And south koreas governing party makes huge gains in the 1st National Elections be held during the pandemic. And in sport californias governor believes the chances of a sporting events taking place in the next few months. Gavin newsome believes Mass Gatherings in his state wont be possible for months. Its 10 g. M. T. And we start in washington d. C. Where donald trump has halted u. S. Funding for the World Health Organization the u. S. President. Is accusing it of mishandling the outbreak and failing in its tootsies he also says the agency covered up how the virus was spreading out of china well the u. S. Is the biggest donor to the w. H. O. Contributing their 15 percent of its budget mike hanna reports from washington. And what has become a pattern president trying to use his podium to parade reporters if you keep talking ill leave and you can have it out with the
With the world news from aljazeera russia has reported a record rise in new covert 19 infections for the 4th day. Heading 425000. And also south koreas governing party makes huge gains in what is the 1st National Election to be held during the panda. Is 1100 hours g. M. T. 7 am in washington where president didnt President Donald Trump has halted u. S. Funding to the World Health Organization he is accusing it of mishandling the outbreak and failing in its own duties he also says the agency covered up how the virus was spreading out of china the u. S. Is the biggest donor to the w. H. O. Contributing nearly 15 percent of its budget well start with this report from mike hanna. In what has become a pattern president trying to use his podium to parade reporters if you keep talking ill leave and you can have it out with the rest of these people if you keep talking im going to leave and you can have it out with them its just allowed me to introduce a number of prominent members of big busin