Discussion this evening. Francine we are not brexit free, i have just been sparing you. We have actually been increasing the numbers of icu beds because people need them more. And brexit negotiations are ongoing. There is still the selfimposed deadline of october 15. ,om and i want to make clear the case dynamics in europe are extraordinary for the slopes of those curves are distressing. Its been an extraordinary thursday. Thank you to our team for an incredible news flow. It seems like we are doing the same thing today, we are waiting for washington to wake up and drive forward. Heres riddick group to with the first word news. With first word news. The Global Food Program was honored with the Nobel Peace Prize. They especially operate in conflict zones. To 100 millionse people in 88 countries last year. The white house is shifting its position in stimulus package, again. Steven mnuchin and told nancy pelosi that they want to in agreement on a largescale relief bill. Earlier this week
Working from home a, but we have seen warehouse jobs surgeon. The challenges are immense and when it comes to returning to some sort of normal. Workersmon encouraged back into the office to increase credibility increase productivity. They had to send a workaround with the coronavirus. Caroline there are so many issues with the coronavirus that are confusing. The temporary issues with the virus, the mediumterm with the slowdown. The white line is the people who are on temporary layoffs. Blue line, permanent layoffs. Normally, they just move together. The number of people on temporary layoffs surged in march and april. The number of people who lost their jobs on a permanent basis, that continues to rise. We really have a case of two labor markets. Is not just one of the reasons we might have two labor markets is that the labor market is moving to something different. Our entity spending as a share of gdp, that is the highest on record. Give you aer lines better sense of what is happening
Sonali from new york city, for our viewers worldwide. Bloomberg real yield starts right now bloomberg real yield starts right now. Coming up, how will signals the fed to stay on hold but a beast but at least a future rate hike on the table. Credit concerns grow with a fastgrowing wall of maturities. That is around the corner but first well begin with the big issue. Volatility around powell. Powell said in his remarks the fed takes the world as it is. The committee is really feeling its way to what is the right level of real Interest Rates. It is a pretty optimistic speech of how the economy is performed. We are not going to take a hike off the table. We are going back to 2 . The fed is capable of giving getting us there. I think the fed is on hold until they see whether the economy slows as much as they anticipate. Powell said he expects growth below trend. If you see inflation stagnate at current levels, the committee will conclude to raise rates of bet. The market has done well for t
The twoyear yield is hanging out at 481 on the day. The twoyear got below 480 last week, it has been hovering around these levels, barely changed on the day. 10year yield, similarly a one basis point move. We will talk about it later in the show, but there is some interesting news this week on the issuance front when you look at the auctions from the treasury and the 10 year will be tested. Data movers on the equity side, shares of micron higher after it was upgraded by baird to outperform. Spirit airlines, lets talk about that, hitting a record intraday low after issuing a revenue outlook low analyst estimates. The company noting overcapacity in several key markets like latin america and florida. Down 10 on the day. We want to note a huge move for the bitcoin world, marathon digital chairs climbing now on news that the company is pursuing a strategic organization, overt 70 . The Company Reports after the bell on thursday. Ellen hayes enjoins us to talk about all that is going on in th
The 10 year yield going in the other direction. A little bit of a lift in yields. 457 on the day. We will keep our eyes on that. There was a bit of a messy auction people had looked forward to. A lot of dynamics going on under the bond market. Midday movers. We will look at shares of rent the runway. It reported fourthquarter revenue and topped average analyst estimates. The for your outlook was mixed relative to wall streets expectations. Shares slid 90 in the past year through wednesdays close. We are looking at a stunning gain in that stock. Alphabet shares are climbing as investors are becoming more optimistic about its ai strategy. The companys market cap inching closer to the 2 trillion mark. Nvidia, microsoft, and apple are the only other companies that hit that milestone. Back to the economy. That is driving the story. The Producer Price index increased by the most in 11 months in march. Still below wall street estimates. We will discuss how it impacts the feds Interest Rate pa