jon ferro is speaking with lawrence kudlow on jobs day. that will be a different conversation in the 9:00 hour. right now we go to the trenches. ryan teague beckwith is the one who has been on the campaign trail with the president, and we are thrilled that he could join us for a brief. ryan, did you see this coming? the idea that ms. hicks have the virus and the president got it, the president had the virus, and ms. hicks got it -- in the swirl of a relatively massless campaign, someone like you so attached, did you see this coming? ryan: there first thing i would say is just that i think and prayershoughts are with the president and the first lady and that we hope they would recovery and this -- that they would recover and that this turns out to be a mild case. he certainly has the best medical care there. i think that those of us who have watched the campaign and watched the white house have been concerned that the seen --s there have have seemed lax. you don't have to go far to find photographs of members of the white house, members of

the first time i heard it was when lawrence kudlow yelled shut up and read the monograph.a classic immediately. how about this. is the twin deficit we have created sustainable? nobody believes it is. do you believe in a path to a regression we are familiar with or are we in uncharted territory? catherine: in terms of the deficit and debt profile, absolutely we are in uncharted territory. -- post-worldd war ii type of territory, anyway. we have never had these type of numbers before, never these trajectories, not just for sovereigns but also nonfinancial corporate spirit the only people -- nonfinancial corporate spirit this is a tetra tech -- nonfinancial corporate. there are a couple of ways out. the good way out is to have a productivity surge. support for the capacity of the economy to repay its obligations , same thing for companies. that is a wish at this point. we could imagine something coming through with climate innovation and climate adaptation and mitigation. these are ways we could get a productivity surge that will be supportive of being able to repay the debt.

jon ferro will tackle lawrence kudlow in the 9:00 a.m. our here on the economy. you know he has to talk about this better than good claims data yesterday. no doubt lawrence kudlow talking up the president wanting to do better for america. look for that in the 9:00 hour. stay with us. this is bloomberg. ♪ anna: this is "bloomberg surveillance." francine lacqua is off today. numbers out of germany this morning that were very strong. pmi numbers coming through on the german economy, derman manufacturing pmi for october, 58. above 50 means expansion. let's talk about how meaningful the debate is. sonia allowed joins us. -- sonja laud joins us. the turnaround in the euro -- how much credence do you give to this kind of data at the moment? some people suggest it catches timing very well, but it doesn't tell you the extent of rebound or contractions. what are you seeing in the data? >> good morning. i would always put the manufacturing data points in context. in 2020, as we know, with is very unusual situation with social distancing, and the impact on services in partic