rick kelly makes his guitars out of recycled wood. >> going to sound good. this wood here came from the belltower of trinity church, the oldest church in new york city. and during 9/11, they had big fires down there. >> reporter: kelly collects discarded lumber from old buildings being torn down. this wood has seen better days, but it will come back to life after kelly shaves it down a little. he says these guitars have a good tone because old wood is dry and well seasoned allowing strings from the guitar to reverberate beautifully through the body. kelly's items are in demand among the most famous musicians. bob dylan is one. he made him a guitar from wood from a bar. he has sold more than 2,000 guitars from used wood. >> a lot of people i think are really happy to support somebody who doesn't cut new trees down to build instruments, and from a lot of reclaimed wood. so it is becoming more and more popular. >> reporter: as these new yorkers breathe new life into discarded objects and materials, there's hope that more of the city's residents will be inspired

rick >> hi, kelly a lot going on in the treasury complex. 7 year auction gives us continuing glimpses that investors may be losing their atize for as many treasuries look at a march start for 30 year bonds like like it will close at a ten-week high. consider this. today we have investment grade issue from hsbc. credit flow research tells me year to date we're over a trillion in investment grade issueance. it could close at a 12-week high the investment grade, 7-week high close today finally, there's the dollar index. if you consider it's at a two month low and the euro is at a two two-month high it's still up 2% on the year back to you. >>> coming up, the house passing a bill that provides key fixes to the paycheck protection program. what those new measures look like, next i am totally blind. and non-24 can throw my days and nights out of sync, keeping me from the things i love to do. talk to your doctor, and call 844-214-2424. >>> welcome back the house paz passing a bill that would fix some highly criticized issues. >> reporter: the vote

kelly, back to you. >> rick santelli, we're still waiting for steve liesman to thread through this beige book report. meantime, let's go to diane, not for reaction as we had anticipated to the beige book, but maybe for a little bit of preview and her sense of where the economy stands right now. there have been some articles -- welcome, first of all, diane, always good to see you. there have been some articles lately in which some prominent democratic economists have said the economy may have a period of explosive growth in the third quarter and into the fourth quarter. that will have definitely political impact. but how meaningful would that kind of explosive growth actually be economically >> well, that's a good question. economists are really debating now thousand discuss how to dis coming off of zero. all economic activity to some economic, the percent changes are large but as the percent of capacity of the economy and thinking of firms and how much of their capacity they're actually using or how much of a restaurant is being used or if it's even open at all, that's a very different e

chart and as it sits it's up 2% on the year but nasty week for the dollar index kelly, back to you >> certainly is. rickanks very much coming up we're still awaiting president trump. we're expecti ining any hoemt to hold a news conference it was supposed to be top of the hour as activity picks up in many areas of the economy, car sales 'lloe alng wel ok at some of the reasons why right here after this it's hard to eat a whole pizza. but a slice is just right. that's why fidelity offers dollar-based trading. buy what you want based upon how much you want to spend, even if it's just a slice of a share. that's why usaa is giving payment relief options to eligible members so they can pay for things like groceries before they worry about their insurance or credit card bills. discover all the ways we're helping members today. >>> americans are getting back to resuming a lot of activity. buying cars doesn't seem to be looking at one of them phil is looking at why auto sales are stalling >> there's a number of interesting reasons. look at auto sales over the last three weeks. these are retail sales at dealershi

record speed let's go back now to our white house correspondent kelly how we shouldn't forget the timing of all of this this comes a day off to rick bright the vaccine expert from the u.s. department of health and human services a whistleblower went and said that he didn't feel that the u.s. had a plan to distribute a vaccine the timing is important too isn't it. i will there's no question the u.s. president is trying to appear more presidential he's trying to pivot away from some of the negative headlines like thursday's headlines of the testimony from that top scientist that once headed the vaccine research in the united states at one government agency who've now had says he's been pushed out as a result of political pressure in other words he didn't push some of the controversy drugs that the u.s. president was in favor of for trying to combat covert 19 so there's no question that the president is trying to change the script flip the script if you will it's been a bit of a challenge i don't know if you noticed how noisy it was in the background those horns that were blasting throughout just to give you a little background of wh

kelly. >>> let's get to the bond market where we have seen a volatile session. rick is tracking the action for us >> the volatility, the long end did all the lifting. whether it's the mnuchin-powell hearing that was unusual because nobody was in the same room. we had a lot looking at the insti int intraday of ten. we started to creep up but the whole day has been a down day. ten minus two will rime well with that past chart it went from 56 to 53. it flattened a bit at the behest of the trade on ten-year and 30-year for the rest of the curve. if you look at the euro versus the dollar, it reflects some highs before our new york time zone it was a 500 billion euro package france and germany are trying to push to the marketplace. it's a quasi coronavirus bomb but not really we'll have to keep close eyes on how that goes and whether it comes to market. tyler, back to you >>> thank you very much. coming up, a choppy trading session today but tech and consumer discretionary names are the best performers right now and the tech sector is the only one in the green for the year

kelly, there's also news about the former head of the biomedical advanced research and development agency who was removed from his job recent. what can you tell us about that? >> reporter: that's right, kristen. rick bright who had been in chash charge of the government's plan, had filed a whistle-blower complaint says there are reasonable grounds to show that he was retaliated against by the trump administration. bright had been concerned about the president's comments about a drug that's unproven and had been trying to sound the alarm early about the scale of this pandemic. he also says that he is not a disgruntled employee. that's a charge the president leveled against him, claiming that bright was disgruntled and trying to help democrats. kristen, peter. >> president watching that closely as well. kelly o'donnell at the white house. thank you for that. >> also this morning, we want to turn to the historic unemployment numbers. nearly 15% unemployment in the u.s. the worst since the great depression. experts say it could be even worse than that. nbc's geoff bennett now with the latest on all of it now. geoff, good morning. >> reporter: peter good morning to you. the april jobs report shows in b