Oil price crashed below 0 and then kept on going into negative territory our economics editor abby dallies in london he says the glut in oil supplies is a global problem that needs a coordinated multinational response. Theres more than 35000000. 00 barrels in circulation which out which which are not useful to anybody at this present time and so we need to figure out how to get rid of those 35000000. 00 bows that would mean russia United States and saudi arabia shutting down production but thats not practical because if you shut down press corps you can damage wells so it needs a collective help from from everyone around the world the other thing that the United States can do is rig is that off the Strategic Reserve to allow corporations to actually store away their oil in those corporate in those that are in the Strategic Reserves and thats something that were going to consider and the u. S. Is also considering haint Oil Companies to keep oil in in the oil wells so that they dont pump
Including its 2 biggest cities. And a month on from the declaration of a pandemic we go back to the one of life markets of asia to blamed for causing the chaos. So the United States has become the country with the highest death toll from corona virus according to the Johns Hopkins university tracker more fatalities were confirmed in the past day taking the u. S. Past italy which is on 19 1468. 00 deaths you can see that top right and heres the United States where the total is now 19701. 00 as you can see a confirmed cases in the worlds biggest economy have been skyrocketing in the month since a pandemic was declared and lets speak to mike hanna who joins us now from washington d. C. So mike now the United States has small fatalities and anywhere else. Weve lost our connection there with my camera well try to get it back a little bit later in the program now critics of President Donald Trump say his slow response is largely to blame for the high numbers in the u. S. Lets hear now from o
And im sure all the nation will join me in assuring you that what you do is appreciated and every hour of your hard work brings us closer to or turn to more normal times i also want to thank those of you who are staying at home that by helping to protect the vulnerable and sparing many families the pain already felt by those who have lost loved ones together we are tackling this disease and i want to reassure you that if we remain united and resolute then we would overcome it i hope in the years to come everyone will be able to take pride in how they responded to this challenge and those who come after us will say the britons of this generation were as strong as any. That the attributes of self discipline of quite good humored resolve and a fellow feeling still characterise this country the pride in who we are is not a part of our past it defines our present and future. The moments when the United Kingdom has come together to applaud it scared an essential workers will be remembered as
0year, we probably have to be looking at a global recession. We are going to test 1 . A lot of things would have to go incredibly wrong to get the 1 . You have to have a recession to get there. The u. S. Economy could go to recession. Unless the market begins to price an additional cuts, the 10 year at most will drop down to the 160 range. The fed will have to ease again. The fed is going nowhere. If there is any sort of weakness in the data, you will see an outsized rally in bonds. Jonathan joining me, kathy jones, george bory, and in chicago, jim bianco. Jim, lets begin with you, looking out to 2020, it seems the consensus view is for rates they are or go lower. Where you come down in that debate right now . Jim i think thats probably right. Rates will probably drift lower. Thats been the story the last 10 years. Weve had no inflation, we are in a record expansion, we cannot generate any inflation right now, rates are down 75 basis on ts this year, at least the 10year yield. The path
Hello im terry martin good to have you with us we begin here in germany were going back as conservatives and the social democrats are reported to have cheap achieved a breakthrough in Coalition Talks negotiations between the two parties went on through the night michael c. D. U. Headquarters here in berlin the sides disagreed over labor laws and Health Care Reform its been more than four months since German National elections country faced the prospect of fresh elections without a coalition deal. Well for the very latest lets cross over to our Political Correspondent hans bond whos standing by outside the c. D. U. Party headquarters here in berlin where those marathon talks of been taking place hans were getting signals that breakthrough has been achieved in the talks what can you tell us is obviously the signals have arrived here as well that come from the Online Edition of a very german magazine who report from inside the Coalition Talks saying that an agreement has been reached and