dani: let's get the deck rick tikka -- ritika: let's get the blueb bloomberg business flash. lebron jamesnd maverick carter have launched spring hill company with a $100 million investments. they spoke to bloomberg businessweek about the company and a number of other issues, one of them the restart of the nba season. forward tom looking the season getting restarted, getting back into a leaker uniform, continuing to push the envelope not only on the court but off the court. like i have been telling a lot of my colleagues and my friends, i will not stop until i see real change for us in the black community both on and off the floor. ritika: you can watch all of the bloomberg businessweek conversation with ron james and maverick carter at seven a clock p.m. new york time -- with lebron james and maverick carter at 7:00 p.m. new york time on friday. the german airlines biggest investor says he will vote in favor of the $10 billion plan for lufthansa. it comes at the lufthansa special shareholder meeting today. the parent of the chuck e. cheese restaurant change -- restaurant chain has filed f

bloomberg markets. stay tuned, more of that james interview coming up. york and amanda in toronto, this is bloomberg. ♪ ♪ >> it is 2:00 p.m. in new york, live from bloomberg headquarters, this is "bloomberg markets." it is lone star lockdown. texas halts the reopening of its economy. intensive care wards reach full capacity. covid-19 cases surge. financial stocks search as regulators eased rules that will free up capital. we await the fed's stress test, after the bell. initial jobless claims disappoint with nearly .5 americans seeking unemployment benefits last week. why we are seeing a slowdown in the initial labor market improvement. all that, and so much more coming. romaine: let's take a look at where we stand. the first to an half hours of trading we were swinging between gains and losses. we have been hanging out in the green here.

the lockdown has shown how much more still needs to be dumb guy james bloomberg was very very hot leading up to welcome. between economy for the environment and the people. he killed. 30 minutes spondee w. . hy knowing crazy thing in the full time. how to handle newlines in times of the corunna and then d w reporter keep your job just like everyone else and she's looking for answers and thankfully with the help of training expect a few other well. thank you bruce is not life as we know it. in this together our new web series. i'm not proud of and they will not succeed in dividing us so that i will not succeed in taking the people off the streets and because we're tired of this dictatorship. taking a stand global news that matters d. w. made for mines. rises some. cities will sink into the sea. entire stretches of land will be abandoned. and the water. this. massive flood waters are supposed to prevent flooding but they only delay the inevitable. 66 meters rising sea levels starts june 5th on g.w. . in the army of climate change. goodness of. people. want to do years do they have. the futu

it's great to see. >> you can watch all of bloomberg's this week's conversation with lebron james on global news 24 hours a day on air and at tictoc on twitter powered by more than 2700 journalists and analysts in over 120 countries. this is bloomberg. tom: it has been an extraordinary 48 hours for the nation. politics,ome of our the voting on tuesday were liberals and progressives did that are then good. but also the silence coming out of 1600 pennsylvania avenue. the vice president pushing optimism on the pandemic. for more as a president looking for a new path. martin shanker has seen many presidents look for new paths. , our chief now content officer. you have seen this before where a president has to recalibrate. how do you suggest president trump will recalibrate? >> so far i'm not seeing any sign whatsoever that he's into recalibrate. he seems to every day be doubling down on his rather narrow base and unless he expands that base his prospects for reelection looked pretty dim especially in light of the new york times poll this morning. extraordinary particularly in the battlegr

and maverick carter at 7:00 friday on bloomberg television -- lebron james andaverick carter at 7:00 on friday on bloomberg television. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. i am mark crumpton. this is bloomberg. david: even as mark was talking there was a headline crossing the bloomberg that says the senate has passed a bill that will punish china for hong kong. we will continue to follow the story as it develops. in the meantime we have economic data this morning that shows 1.5 million americans filed for jobless claims last week. still stubbornly high number. we welcome michael mckee, bloomberg cheat economics and policy correspondent. it is coming down but very slowly. david: that is the important thing. we are desperate for good news but the problem is we are not getting it. it is not the actual number itself but the direction of the number. basically flat. 1,000,480 thousand people filing for jobless claims, raising the question of why are that many people

ritika: you can watch all of bloomberg's conversation with lebron james and maverick carter at 7:00 p.mriday here on wennberg tv. -- on bloomberg tv. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ritika gupta. this is bloomberg. ♪ >> the case we have simulated for second wave would generate basically zero growth in 2021, as compared to 5.4% growth in 2021, which we have projected. so that is the classic l-shaped non-recovery, and that would be a really dire outcome, getting even closer to great depression levels than we already are. jonathan: the nonrecovery. the imf chief economist. from new york city this morning, good morning. alongside tom keene, together with lisa abramowicz, i'm jonathan ferro. one on bloomberg tv end bloomberg radio, let's get straight to the price action in the market. equities rolling over, down 26 points on the s&p 500, down around 0.8%. as the session grows older, the dollar growing a little stronger. euro-dollar down by 0.5%. the dollar stronger against the

coming up on this week's cover of "bloomberg businessweek," lebron james of the l.a. lakers. tuned for an exclusive conversation about the return of professional sports. ♪ toly: the nba is gearing up restarted season on july 22 after halting games due to covid-19. bloomberg spoke exclusively to lebron james of the l.a. lakers about the return to professional sports. i believe that sports in general have done so many great things for communities, for households, bringing people together. more importantly, like you said hasier, our commissioner always allowed us to express values about what's going on in our lives. for us to be together as a lead once again, along with what's going on right now, it gives us another opportunity to continue talking about what's going on with social injustice, police brutality, black lives matter, and continuing to hit home on things that are going on that matter a lot as well. but sports has always been something that kind of galvanized and brought people together, and makes people feel very uplifted. i know in my community right now, unfortunate

nejra: that was three-time nba champion lebron james on the black lives matter movement. you can watch all of bloomberginessweek conversation with lebron james and his business partner at 7:00 p.m. new york time on bloomberg tv. the companies listed on the new york stock exchange raised more than $35 billion while the trading floor was closed after capital raising an ipo. [no audio] >> give had to companies today. came up tospotify us. slack was the second company to choose that path over a year ago and we have been building on that model is to allow for capital raising. reallye direct listing does is it separates the timing, decouples capital raising from going public. you can choose to go public, but not necessarily raise money at the same time. so, the two, to date, have taken that path. now, what we're working on is what if you want to raise money at the same time but you like the exchange and process of opening that morning to determine how that offering gets priced? so that's the phase we're working on right now. we filed the first iteration in december and we worked productively with them on que

hays, coming up, do not forget to get "bloomberg businessweek." lebron jamesnd his business partner maverick carter. we have that exclusive conversation about how they view u.s. politics and the protests against racism. this is bloomberg. ♪ david: welcome back. lebron james has recruited nba to form anrform -- activist group called "more than a vote." -- we spokelusively exclusively to lebron and maverick carter about their mission to get people to the polls. lebron: big success looks like educating the people on the ground in the cities. we have had voter suppression for so long, people are now understanding how they can vote, where they can vote, if their vote really counts. in the black community, you will is here to go out vote, but what you do not understand is where can i vote, how many people in my voting for, what do these vote stand for? the education side is what we are most proud about. that is success for us, where we get these communities out to vote, and they are educated on who they are voting for, where .hey can vote they have that power. a lot

this is bloomberg. shery: jamesrategy of capping treasury yields after -- might not work and the control seems unnecessary. he spoke with bloomberg earlier and said the u.s. economy is recovering faster than he expected. a lot ofe deployed good tools for the situation. i think the policy response has been quite good to the pandemic on the monetary policy side, the liquidity programs, plus a good response from the political side to thosescal relief who are disrupted by the pandemic. i think all of this, given the nature of the shot, it is all gone pretty well so far and i think july 1 is a good checkpoint because i have long advocated the main impact in the quarteruarter and third will be the opposite of the first. it will be a big increase. come back online safely in a way that keeps the pandemic under control. >> other committees thinking about ford or -- forward guidance. yield control was a big part of the conversation. how would you characterize yield curve control from your perspective? >> u.s. had yield curve

ofk: you can watch all bloomberg businessweek's conversation with lebron james and maverick carter on here on bloomberg television. global news 24 hours a day on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. i'm mark crumpton. this is bloomberg. romaine: the news crossing the wire now, this on ground strike, the big cybersecurity software company said to be placing shares in a private placement of fiat barclays. shares more than doubled from the start of the year, more than tripled since june of last year. taking advantage of that price. the shares closed earlier today at 105.71. caroline: a programming note. if you have not and excited enough by our lebron coverage, you have got to be excited about bloomberg's annual broadcast of the boston pops spectacular, carrying on the orchestra's fourth of july tradition in the comfort of your own home. you cannot miss it. this is bloomberg. ♪ found, tedious negotiations with a lot of uncertainty, under the leadership of ken feinberg as a mediator, a process and structure that will

anna: that was three-time nba champion lebron james on the black lives matter movement. you can watch all of bloombergonversation with lebron james and his business partner, maverick carter, at 7:00 p.m. new york time on bloomberg tv. intu properties, which owns nine of the u.k.'s largest malls intends to apply for ministration. the landlord -- administration. the landlord is considering how to protect stakeholders. for more, our bloomberg intelligence reporter joins us. this has been a story that has been intensified by covid-19 and closure of retail outlets. it does predate it in a sense in that retail was already under pressure. what's the latest here than? -- then? >> intu has had problems going back a number of years. its interest was always higher. swaps that ity of took prior to the financial crisis. these swaps were not allocated to any debt and they had to pay the interest on those as well. over the last eight or nine years, they have not been able to have a positive operating cash flow. they carried on borrowing. that has already put them in a bad position. on top of that, you had brexit, th

james bullard. this is bloomberg.orning. ♪ ♪ jonathan: from new york city for our audience worldwide, good morning, good morning. "the countdown to the open" starts right now. we begin with the big issue. as new york city enters phase two the reopening process, are we seeing inevitable bumps in the road elsewhere or something that might derail the recovery entirely? >> we are in the middle of the game. >> a very brutal dislocation we've been through. >> it is not over. >> nowhere near the end of the game in terms of the crisis. >> the tourism industry, the airlines are really struggling. >> you need people to feel comfortable sitting does joe from people on a plane. support for af longer period of time. >> otherwise it is not a sustainable recovery. >> what the recovery looks like, i am not sure. >> people have looked for v-shaped recovery. >> the idea we could have av or any number of

james. you do not want to miss this conversation. this is bloombergguy: from london, i'm guy johnson, with alix steel in new york. this is "bloomberg markets." black lives matter have become one of the biggest social movements of the year with thousands marching across cities in the u.s., and for that matter, the world. they are demanding change. lebron james is a supporter of the movement and we got his thoughts in an interview on bloomberg businessweek. lebron: we have always had the plan for this moment. it is something i always had a passion about. and having people understand how important we are as black america, and the powers and creativity and language and the struggle that we have had for so long, we have been through a lot this year. and you look at the death of kobe bryant that we had to deal with, and obviously our prayers are still with vanessa and their two daughters. we have dealt with that as a city and organization. but that was a tragic moment for us. you come to the point where playoffs are around the corner and it is all stopped b

a good conversation. , jason kelly00 with lebron james and company. this is bloombergchael: -- jonathan: from new york city for our audience worldwide, good morning, good morning. "the countdown to the open" starts right now. equity futures negative. we begin with the big issue. this was the week where the tolerance of policymakers was finally tested. >> there is a massive outbreak of covid-19 across texas. >> you are seeing infection rate grow. >> covid-19 is widespread in arizona. inthere are some regions texas running tight on hospital capacity that may necessitate a localized strategy. >> we have done a step-by-step approach, and it was aiden approach reflective -- and it was our approach reflective of the unique situation of each area. >> there is more work to do. we cannot let up. if anything, we need to redouble our efforts. jonathan: many of the governors are increasingly worried, the president of the united states increasingly oim

francine: that was basketball star lebron james speaking as closely to bloomberg about restarting professionalthe u.k., the football season managed to restart with liverpool having a long awaited last night. are ending in a dramatic fashion with fans not allowed to be in stadiums. how to reopencuss sports safely is ac milan chair paolo scaroni. dot are clubs going to concurrently to actually combat racism in european football? issue,this is a major and i will say it is a major issue in football. with ac milan are fighting specific initiatives on the stage, on the web, to fight the race phenomenon. now, of course, now that we are doors, behind closed there is no way to show racism, start opening again our stadiums -- francine: how important is it for clubs to increase famed playersfor -- andhing and in verio managerial positions? will concrete steps be taken? paolo: i think it will. executive, for him, this is really a very important situation and i'm sure we will make great progress. we know that football broadcasting rights generate billions for the premier league and so on. could this all ch

am looking forward to a conversation with a former admiral, jane street , this-- james stavridis morning. this is bloomberg. ♪ francine: this is "bloomberg surveillance." tom and francine from london and new york. we spent time talking about the markets. there is a great piece we mentioned a couple days ago that has been updated, saying that the most hated rally in history just will not stop. we are seeing is frankly in the markets. joining us to talk about the market and banks is davide serra, the chief executive officer and founder of algebra's investments. as always, thank you for coming on. the fundamentals in the economy are going one way, although we are gradually reopening a lot of economies, and you have the market on a tear. when you speak to strategists, it is 50/50 if this is supported or not. our markets going to continue rising? it depends onk which markets. if you tell me at the beginning of the crisis what happened, gothing that was not -- destroyed. basically got sold off. got bought up. amazon and google kept getting business because people were doing more shopping online. if you had expos

nike's biggest endorsers, lebron james, is on the cover of this week's bloomberg businessweek, alongsiderecruited nba stars to form an activist company focused on preventing suppression, especially in black communities. we spoke exclusively to lebron and carter about their mission to get people to the polls. >> i think it looks like educating people on the ground in these cities we are tackling. we have had voter suppression people not, understanding how they can vote, where they can go, if their vote really counts. in the black community, you always here, go out and vote. but you don't understand, who in my voting for, where can i vote, how many people in my voting for, what did these votes mean, what do they stand for? so the education side is what we are most proud about. us whenbe a success for we get these communities out to vote if they are more educated about who they are voting for, how and where they can vote. they have that power. there is a lot of people that believe they can't vote because they had convictions with the law or have been to jail, and they have been told that th

that is bloomberg intelligence's james teo.update coming out of islamabad, casesan, adding some 5385 in 24 hours. huge increases taking place there. the total for the country is 113,702. this against the backdrop of a very mixed response to the coronavirus. of course, we have had the army take charge in some parts of the country of containment at least. the pakistani health ministry reporting 2255 deaths from covid-19. it is the third worst affected country in asia. now behind india and iran. coming up, backers including facebook, kk i, and silverlake are piling into technology industries. big bets taking place. in a moment, we look at the rise of india's digital economy and ?sk when the domestic giant you are with bloomberg. ♪ rishaad: covid-19 does not seem to have affected dealmaking at least in india's most reliable company which has secured investments of $13 billion for its telecom services geo platforms. a host of others are piling money into the company as they look for a slice of the world second-biggest internet marke

of nike's biggest endorsers, lebron james, is on the cover of this week's bloomberg business alongsides partner maverick carter. the nba start discussed the black lives matter's movement and the changes he wants to see on and off the court. to say i don't want was anticipating it. we have always been in this position. we have always strived and had the plan for this moment. i have alwaysg had a passion for. having people understand how important we are. the powers and the creativity and the language. the struggles we have had for so long. you look at the death of kobe bryant that we had to deal with. our prayers are still with vanessa and her two daughters. we dealt with that as an organization and as the city of los angeles. that was a tragic moment for us. we all had to wait around. the healthnderstand of every individual is so much more important. then chasing a ring or chasing a championship. no one had an answer to it. seeing how many people were hurt not only in minnesota and minneapolis, especially in the black community. we have seen this over and over and over. police brutalit

this is "bloomberg markets: the european close" lebron james earlier this year launched a media companyhich aims to make and distribute content that will give voice to underserved creators and consumers. he also launched "the more than a vote" initiative that looks at preventing suppression in voting rights, especially in black communities. we spoke with him on these very efforts. lebron: i think success looks like educating the people who are in these cities. had voter suppression for so long, people not understanding how they can vote, where they can vote, if there vote really counts. and in the black community, you butys hear go out and vote, you may not understand where can i vote, how many people in my voting for, what did the votes stand for. what weducation side is are proud about. that is success for us, where we are actually getting the communities out to vote and it they are more educated on who they are voting for how they, can vote and where they can vote. and having that power. people believe they cannot vote because they have had previous convictions with the law or they h

our conversation with lebron james and his business partner, onerick carter, airs tonight bloomberg tvglobal news 24 hours a day, on air and at quicktake by bloomberg, powered by more than 2700 journalists and analysts in i'm than 120 countries, ritika gupta. this is bloomberg. guy? guy: thank you very much indeed. financial states under perch this morning, following two commuting -- confusing signals from the fed. the fed has approved changes to the volcker rule, allowing for investment in capital funds and to be able to do a bunch of other things. so loosening the volcker rule. it is also a cap on dividends and buy back through september due to uncertainty resulting from the pandemic. , whong us now, tim adams previously served as the undersecretary of the treasury for international affairs. thank you very much indeed for speaking with us today. do you think it is a good idea that u.s. banks don't pay out dividends at the moment? the i think it is part of trend with what we are seeing in europe and the u.k. where banks should husband their resources in not distribute capital the circ

next up, james sweeney of credit suisse on this market come on this global economy. we are live on bloombergand bloomberg radio. this is "bloomberg surveillance ." ♪ you doing okay? yeah. this moving thing never gets any easier. well, xfinity makes moving super easy. i can transfer my internet and tv service in about a minute. wow, that is easy. almost as easy as having those guys help you move. we are those guys. that's you? the truck adds 10 pounds. in the arms. -okay... transfer your service online in a few easy steps. now that's simple, easy, awesome. transfer your service in minutes, making moving with xfinity a breeze. visit xfinity.com/moving today. ♪ from new york city, this is "bloomberg surveillance ." we are live on bloomberg tv and on bloomberg radio. alongside tom keene, i'm jonathan ferro, together with lisa abramowicz. counting you down to the opening bell, two hours away, with equity futures still up 17. hessian highs -- session highs off by a little more than 1%. the curve just a little bit flattered, down to basis point on tens to 0.69%. the euro advancing, the dollar weake

don't miss our conversation with lebron james and his business partner tonight at 7:00 new york time on bloombergbal news, 24 hours a day, on air and on quicktake on twitter, -- quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. guy? guy: thank you indeed. it's friday so this will staying. earlier, we saw texas closing taverns, which is fantastic. now, we are starting to see news coming out of florida. florida's governors saying alcohol is suspended at bars. alcohol sales suspended at bars, which reduces the urge to go to a bar. alix: yeah. i think what we are learning is that if you go inside with a big group of people, your risk well -- instead of going to a rollback for restrictions, it seems targeted. i wonder how it will work. i wonder if it will be enough to stem the tide of these cases say arizona, florida, and texas. guy: i imagine all of these places are pretty hot right now, people want to go inside because of their air-conditioned. it's almost the exact opposite in new york and london where bars will open but you have to be outside. my que

bloomberg daybreak: europe." u.s. jobless claims come in worse than expected as james bullard warns america is not out of the woods yette decoupling. president trump makes his most forceful threat yet on severing ties with china. a new ceo, the ing ceo will be steven van rijswijk. welcome to daybreak europe. it is a little bit of a flat friday. we are struggling across equity benchmarks. struggling after some second wave concerns have brought a little bit of risk off sentiment to the market. that said, global equities are heading for a weekly gain. u.s. futures not giving us a lot of direction along with european futures. we are seeing not a lot of movement on the 10-year treasury yield. the dollar index is unchanged as well, but the dollar and the yen are heading for weekly gain, which sort of counters the fact that we are seeing a weekly gain for equities in terms of whether we have seen a risk on or risk off week. boyle points to a little bit of risk. we are seeing some green on the screen. thatsigns and commentary there might be a bit of come back and demand. jobless claims in the u.s. showing only gradual improve

bloomberg terminal and the website. joining us now to talk about gilts is james athay. great to have you on the program. did you take this article? it was very interesting actually. this is definitely a departure from what the bank of england however heoward and central bank has engaged in quantitative easing or asset purchasing has thought about their exit strategy to the extent they have thought about their exit strategy. it is worth noting different economies probably suit a policy,t sequencing the sensitivities of the real economy. the u.k. really has a short dated flow to a mortgage system so we have a lot more consumer sensitivity for secured and unsecured lending, for the floating first and foremost and five years to a lesser degree. i think from a mainstream perspective, it is definitely easier to look at selling that asset that may see yields rise and the curve steepen. in the u.s., priced at the long end, that takes a different response. either way, have to be honest. it is going to be tricky if and when they look to unwind the balance sheet given how much markets have become addicted to the o

bloomberg surveillance." can't say enough about what jason kelly has done with lebron james.ithhas also made a splash sports but also with entertainment and business as well. a good conversation yesterday from mr. james, and i look forward to seeing what jason kelly does in its entirety this evening. i am thrilled to bring you the guy you need to lean forward and listen to. what do we do with our money this weekend? his name is stephen shaver own that stephen she have a road, and he has a very good allocation idea. steve, easy question is how to rebalance equities. forget about that. how do you rebalance in fixed income given where yields are? steve: we have had a theme over the course of the last week or income boast our fixed and our equity portfolio which was to reduce a little bit of exposure in the u.s., so starting on the fixed income despite the fact that you have had the recovery in the equity market that you do or are you had, the yields barely above where they bottomed out, which tells you you probably don't have a lot of upside in bonds, even if we get a bout of vo

james bullard is the president of the st. louis fed. now we need to turn to someone with a wonderful perspective on this. this is what i love about bloombergillance. we can go from the acuity of jim bullard to the acuity of michael mckee. i thought there were is extraordinary moments in that conversation, none more than jim bullard's comments that there is a debate at the fed over yield curve control when in times past maybe that would've been less so. color the debate over yield curve control. michael: i think you have to define the word raging. at the fed they do not rage. it is a bunch of academics talking about the theories involve. they are trying to decide whether it is necessary, because of you look at fed funds futures and the futures curve for treasuries, it does not show any sign we will see any kind of increase in rates anytime soon. you may get back up if we start to see more economic activity. then they have to decide, do they need to use that to push down on rates? the argument is if you are using yield curve control it could be cheaper because you do not have to spend a lot of money once you've promised to spend all the mone

disclosure i am an investor in the company james turk welcome back thanks mexican city of 0 hour indeed well we got to get your thoughts on something air bloomberg recently interviewed the yale economist stephen roach who said quote the era of the u.s. dollars exorbitant privilege as the world's primary reserve currency is coming to an end what do you think i think is also long overdue you know the system has become so abused that we're in this is just a question of when it all falls apart and that's what we're all watching and waiting to see how it unfolds in the weeks the months were right and a follow up on that your own power of the federal reserve chairman promised 0 percent interest rates at least through the air 2020 and more money printing we also see trust in institutions failing as the riots are suggesting. are the ingredients of a hyper inflationary collapse is coming into view james yeah definitely max you know me said. he said he called it a cracka and where did you head the impressions of the economy doing well because of the stock rising and things of that nature actually economy it's destroyed along with the currency and you know

with james bullard, the president of the federal reserve bank of st. louis. futures are up today. stay with us. this is bloombergthis is bloomberg: surveillance, let's get the business flash. a former ceo has been arrested. this is part of an investigation into a company's accounting practices. they have acknowledged the $2.5 billion in missing funds probably don't exist. softbank is unloading part of its stake in t-mobile. and the company is planning to sell 5% of its share in a japanese one business. to paye using assets down debt and buy stock buybacks. boeing is signaling that it will lower output of its jetline, this is part of a big effort to slash production. working to regulate the ending of a worldwide grounding of the plane after two crashes. since then demand has fallen further because of the pandemic. thank you. this is what the markets are doing, they are moving up in europe on signs of a recovery that we saw today, the euro is gaining on the back of the yields, also taking higher bonds with crude oil sliding. this has to do with china and that statement where peter navarro said that the china trade

with james speaking on his business affairs and the state of this nation. you will see that across bloomberg today and tomorrow night on "bloomberg businessweek." --h us now, to bastion page with us now, sebastien page of t. rowe price. within all of this turmoil in the record uncertainty, how do you reframe for the second half of 2020? had our assetjust allocation committee meeting, and we will remain neutral for now between stocks and bonds. you were just talking about the key risks with the reopening, and those are all very immediate risks. the pandemic and the reopening risk. the only thing i would say, it , but thatficant risk risk in texas came out this morning with the number of cases themselves. there is interpretation in the data and nuance, but it is a risk. uncertaintyly, the on the pace of the economic recovery, this is where sentiment matters. what is priced in with respect to what is going to come out? we were just talking about unemployment and claims data. i listen to your show a lot, and every guest on bloomberg who is pessimistic -- on bloomberg was pessimistic about six we

bloomberg radio. alongside tom keene, i'm jonathan ferro, together with lisa abramowicz. we will hit the markets with james athey of aberdeen standard investment, the senior asset manager. equities drift higher on the s&p 500. treasuries lower, the yield up, curve steeper. risk appetite improves compared to 24 over the ago. from new york, this is bloomberg. ritika: with the first word news, i'm ritika gupta. the trump administration is preparing its latest proposal to get the economy going. bloomberg has learned the plan calls for spending almost $1 trillion on infrastructure. most would be set aside for traditional projects like roads and bridges. it would also spend on 5g networks and rural broadband. fed chair jerome powell is expected to give another downbeat view of the u.s. economy today. of hearingso days on capitol hill with an appearance before the senate banking committee. last week, fed policymakers held interest rates near zero and signaled they would probably stay there through 2022. it is one of the largest provocations north korea has made to south korea in years. kim jong-un's regime has bl

bloomberg. willie coming off the highs since in may. will this have an impact on what -- will this have an impact on the decision opec makes? james. i think opec be wary of what is going on in the u.s. in terms of shale producers. obviously they won't want to be caught out. they won't want those u.s. producers to be taking market share. it's a fine balance to draw. russia historically has been the one pushing to get output back up again. it's usually important for their budget to get oil revenues coming in. -- they will not want depressed levels of production too long. saudis have been hit earlier in the year and will want to get back to normal levels of prediction -- production as soon as they can. just come we've only out of a period of extreme volatility brought on by the covid lockdown. there will be an awareness that any steps to prematurely put production back into the market might cause another pullback in the price. it is pretty finally balanced and what we saw this week is marcus traded fairly -- is markets traded fairly sideways. i think that will be the way of things. our energy reporter in sydney with the latest on oi