hildebrand, thank you for joining us. talking about what central banks should do -- if you put yesterday into context, what was the fear generated by, and how does it impact liquidity in the future? a veryt of all, it was big event. it had echoes of 2008, although i think it is a different story and we will get to that. ithink what it really is, depicts the uncertainty that is associated with the virus. we also see that the market is coming to terms with this, that there will be a sharp and potentially deep impact on global growth. so the recession dynamics coming into play, and i think all of this kind of created this moment of great anxiety in the marketplace and we will continue to see volatility going forward. francine: is the recession avoidable? times in life are that policy can make a significant difference. i am convinced this is such a time. much of it will be a function of what policymakers can do at this stage, hopefully in a coordinated and aggressive way. this is a time that policymakers have to step up and d

hildebrand, tom keene in new york.seeing dollar weakness, most of the people today don't understand true dollar weakness off of plaza and move in the 1980's. much dollar weakness can the president-elect stand? how much does a weakness can europe or china stand? philipp: i would say if you look at the overall challenge that resident elect biden faces with the new government, -- that president-elect biden faces with the new government, this is really difficult. this is probably one of the most complex, urgent set of problems that any incoming president has faced in american history. what he doesn't have right now, which is a difference to 2008, is you don't have the market breathing down your neck. there is not an imminent problem in the financial market. but just about every other level come he is facing a very complex set of challenges, and we need to be realistic about how difficult this will be. and of course one of the elements, tom, is a very high debt level. huge debt looking at levels, so at some point, that beco

the hildebrand's a keeping regain a spirit alive even today. she's remembered fondly in eastern germany. read widely, followed him for fun. i've just been so amazed in the last few days by how much people remember grandma when you were travelling? yes, she's like a superhero. they really idolize her. to be honest, i was almost shocked. shocked by the excavator operator said that meeting, i think, you know, hildebrand's grandchildren was like hitting the jackpot. yeah, there's a lot to live up to now a days, many in eastern germany feel there's no one on the political stage who represents that interests. as asked most from our club, this would make for a start, it wasn't a reunification. onces time simply imposed itself on the other west. germany didn't bother to even come siddur if there was anything in the east german system that could have been useful to fix the problem. one boosted cohesion was they didn't think what aspects of east germany should we take a closer look at. maybe keep, they only cared about things that related directly to a m

philipp hildebrand, vice chair at blackrock., more conversations about the markets, many more conversations about crude oil. and a conversation you don't want to mess with the chief financial officer of coca-cola. this is bloomberg. ♪ francine: good morning. this is "bloomberg surveillance." coming up, a full round up of the price of oil. some of the industry had to actually pay consumers to take some of this oil. we will speak to john browne, former chief executive of bp. executive, shortly after this. this is bloomberg. ♪ ♪ francine: this is "bloomberg surveillance." i'm francine lacqua in london. we had a dramatic fall in the price of oil. beneath $20 falling a barrel. in the may contract still in negative territory. we will have a full round up of oil new shortly, but let's get to new york city with first word news and viviana hurtado. viviana: we begin with encouraging signs the coronavirus pandemic in the u.k. is slowing. members of parliament are set to return. they will likely scrutinize the government's handling of the

blackrock's vice chair philipp hildebrand joy does this hour. prop -- profit mrs.. -- profit misses. market could the be good for trading. good morning and welcome to "bloomberg surveillance." i'm francine lacqua and london. tom keene in new york. we have a number of stories we need to look out for. lvmh and thing is tiffany, after it was on, off. opera oflike that soap a marriage breaking down and being revived by marriage counselors. it is amazing they are still buying and. about $400t was million. reporting doing some on bloomberg news outside the old nike store. it is a pop up for tiffany's as they blow up their iconic fifth avenue 57th street shop. you wonder what the french will do with tiffany's. it's going to be fascinating. in new york, i know on bond street is a different layout. icons arese luxury within literally two buildings of each other. it will be fascinating to see where they are after the pandemic. francine: same here, tom. here it is bond street, and we talk about that segmentation, different jewelry categories for different

. >> to the content of the book who was hildebrand gurlitt?this is another great painting actually that is amazing, showing political chaos in the problems that can happen as a result. hildebrand gurlitt who is pictured here with his sister, amelia, who committed suicide before world war ii, and this is his home in dresden. he was the son of a prestigious art dealer, art historian in germany, and he served in world war i. when he did so, hildebrand got the idea he wanted to become an art dealer and art historian and art director. for an industrial town. he wanted to show modern and contemporary art the normal people and explain how wonderful it was. so after world war i, he became the director of the museum in industrial town, and he did just that and he promoted jewish german artist, female artists. he took a lot on the chin in the name of promoting contemporary art. once hitler came to power, he had a choice to what he would stick his neck out for the artist or whether he was going to lay low or work with the nazis. he decided to lay low but

we are starting with philipp hildebrand, he's here describing this synthesis we see in central banking the public service he had to switzerland years ago as well as what he's doing with back rock area i want -- blackrock. i want to take yield curves and folded into what blackrock has to deal with and what every other fixed income shop has to deal with. do you assume, like mr. prince in bridgewater, that we will have a dampening of spirits as and central banks are faking yield curve control? or will it actually bring on a new volatility? i would expect, for the time being, that this policy regime, where the frontiers between the central banking and limitedolicy is largely to an environment where we have limited volatility around bond , simply because, as you have suggested, we have governments putting out central banks buying for debt instruments. whether it's an implicit or an implicit form, the reality is that it's this compilation of bonds coming out, issued by the government and being purchased by central banks. which leads to stability for the time being. if we get this, and we hav

let's get the view from philipp hildebrand.e been coming for davos for -- philipp: 30 years, almost. i was a graduate student in the late 1980's. francine: how has it changed? philipp: bigger, much bigger. it is still cold, by the way. danger, we am in have decided. philipp: the spirit, in some ways, they are trying to preserve the spirit. but the biggest change is davo'' health. it used to be that the restaurants were open, and the cafes were open, but now it has all been taken over by corporate sponsors. francine: is this the year where something changes because it seems much more focused on trying to live or something on sustainability and climate change? in the past it was big globalization and a lot of people came here for business meetings rather than to try and do something different when they get back home. philipp: i think the reality is still in a lot of business meetings take place, but the pressure on the private sector to react, to deliver on sustainability, israel. you could -- is real. you could say all they do i

up to sunset offices hildebrand and graph spot a vehicle that fits their profile. yet a pic of wheels falls apart it's got out of town plates it was all very small seems there's a driver and one passenger let's have a closer look. at it other than that. was the pre-match prediction right now it's time for face to face police work. now and i'm going to have him for the driver's license and vehicle registration clearance so shine. a check of freckles comes back negative for previous arrests and other problems. the officers look into the car's trunk. no stolen property here. loading sobbing the they had an angle grinder and some other stuff so they were probably doing construction around here either legally or illegally legal or illegal by. the rest of the shift is quiet perhaps the officers did manage to scare off some burglars just by patrolling the streets. there are about 300000 police officers in germany. and some of them have highly developed facial recognition skills. josh davis has developed a series of tests that can identify so-called super recognisance davi

>>professor hildebrand says that there will certainly be true for some key races in the house.ut we should know which party will win a majority on election night. switching gears now let's take a look at a live look outside at downtown san francisco from the sutro tower camera this halloween night. hopefully everyone is staying safe if you are having some type of celebration or event kron 4 meteorologist mabrisa rodriguez is here now with a look at what we can expect for the rest of the night. and for the rest of the of recent pay their jonathan yeah, very quiet night out there but brilliant and radiant at that they start rare blue moon out there. >>lighting up the bay area's sky and you will notice the star right next to it and that's actually the planet mars out there right alongside the blue moon for your halloween evening, so head out and enjoy that crystal clear skies out there right now at san francisco international airport. >>bogging still off the coast, not really expected to make its way inland could see a shallow marine layer longer media coastline. but overall tomor

hildebrand who is pictured here who committed suicide, that is before world war ii.is his home. he was the son of a chris tree just art historian in germany and this was in world war one and when he did so under randy got the idea he wanted to become an art dealer and art historian and art director. for an industrial town. and he wanted to show modern and contemporary art to normal people and to see how wonderful it was. so after world war one, he became a director in industrial town called signal. and he did just that. he promoted jewish german artist, female artist, and to the lot in the ten in the way of promotion. once hitler came to power, he sorta had a choice to make. was he going to stick his neck out or was he going to lay low read was going to work with the. he decided to lay low. but in one of his friends, became director of a project which was a project to create a museum in austria. and that was to have the best art and then can partially, destroy degenerate art throughout europe. he decided to use his knowledge of modern art and his connection to help t

unbroken for the story of luisi and perini, lauren hildebrand washington dc person and if you have not i'm sure she's got her own story but do think the worst thing that happened to louis was an olympic level runner in the 1936 olympics and is in the army and gets shot down over the pacific and stranded on a raft 440 plus days and if you think that is the worst thing that could happen that he gets captured by the japanese, pow anything that is the worst thing that could happen and then he finally gets home and has terrible problems with substance abuse and survive that, remarkable story, beautifully written by laura hildebrand. we come to you last because you clearly did not do your homewo homework. >> here is a big comeback, the odyssey. by homer. they go through a ten year wa war -- >> ten year trojan war and then it takes them ten years to get back to ithaca where before he gets there he encounters a cyclops who throws a boulder and locks him in a cage and all his men and has cannibals to deal with and has lotus eaters to deal with and has surreal law and then he has crc who turns h

management talking about corporate stimulus , and finally yesterday, francine spoke to philipp hildebrand of blackrock and they were talking about welfare increase and unemployment insurance, so a bit of a wish list in new york on wall street about what they think would be useful for the u.s. to do to alleviate the pain the coronavirus has caused. thank you very much. to one of the ladies who runs global equities for allianz.- the point on anne-marie made, phillip hildebrand was with us saying if we have the u.s. leadership we did in two thousand eight, that is the big question. we have a very present, very strong, very focused readership team that coordinated the event -- very strong, very focused leadership team. >> we have some early examples of how to deal with this crisis from china. one hopes the leaders will be looking to see what we learned there in terms of early then applyingd those. we will have to see how well that is done in europe and in italy arebut certainly taking some quite .rastic action they do appear to work. signs that the worst is over and china from the data we can

honest i was almost shocked shocked because the excavator operator said that meeting at regina hildebrand's grandchildren was like hitting the jackpot. why are all. yeah there's a lot to live up to. nowadays many in eastern germany feel there's no one on the political stage who represents that interests as i asked most for my clowder submission for a start it wasn't a reunification team one system simply imposed itself on the other as i'm west germany didn't bother to even consider if there was anything in the east german system that could have been useful to fix the problem boosted cohesion they didn't think what aspects of east germany should we take a closer look at maybe keep they only cared about things that related directly to a market economy and that was a mistake but. how he had different often spoke to her children about the full of the war about the joy every unification and the mistakes made in itself to mass. ratio would have made you 3 in just a downward. chalk . keep going. where's the man in the moon. dance and then tony i go back on the red this time they're on their way to

. >> jeff hildebrand, founder and chairman of -- private company here. this is a company based in ,ouston, domestic only exploration production company. i am here to represent the independent energy companies, thatamily-owned businesses are in the industry had to give you that perspective and to add to the conversation. thank you for your leadership. >> energy transfer. we are the only pipeline company. we try to do business with everybody in this room. we do. here and toor to be be in his room with these folks as well. pres. trump: everyone loves that guy. we all do. nice job you are doing. he is not an oil and gas man. he is a wonderful person and a wonderful politician and he long -- he wants to see the industry gets strong. kevin, do you have anything to say? >> thank you for doing this. by you reaching out to president putin and the crown prince, -- you are looking at a lot of jobs. these are small businesses that work with all of these individuals and your action today with signing the cares act, getting these loans out is going strongly because it

having again a big no-no will get to that in a second but there will a lot of degenerate works in hildebrandof those private letters that he kept them. why would he not work to give them back to the right place. >> is fascinating. said sure we want to destroy all of the start but first we will sell it to people outside germany. make the cash, then you take over that country destroy it later. >> yes. alfred barr, who was the head of the first in new york, actually try to caution a lot of people in the art world about that because the most example was the auction in switzerland, where a lot of people including like this is great. one really great artwork. barr was notably staying that the be careful. hitler always thought of himself as an artist first and a politician second. the taking over the culture before actually taking over the territory. >> and you follow the career of the artist. what happens. >> don't get me started. so amelia as you can see, an older artist significantly older than hitler. and would hitler took power, he was sort of considered we do think of iconic american rock mus

well his biography gives a clue to the incredible scope of his vision rafael hildebrand was born in hong kong has german and west african roots and grew up in berlin but hip hop was the education from his beginnings as a b. boy to his work as a choreographer director and curage. well meanwhile he's at home on stages all over the globe and recently won a german dance prize for outstanding artistic contribution. graphic says the award is long overdue it's the 1st time the german dance prize has honored anyone from the urban dance john. born in hong kong the berlin based dancer brings to the stage a fascinating combination of hip hop and folk dance as seen in his choreography for theater in. the churches for extensive it's a tigers that nowadays german folk dance is urban down so that's how people are dancing in living rooms and schoolyards so we're calling for choreography centers like in france which include urban dance styles and are possibly directed by people from the hip hop scene. we also want these dance styles to not always be put in the box of preventing violence and racism we are

raphael hildebrand's you need to mix dance and politics is claiming a long overdue space for urban dance in mainstream culture. and cypriot designers studio audience fuses with function and 3 d. printing technology in his growing collection of contemporary furniture. well no doubt you've experienced it by now here watching a movie when 2 characters go to embrace each other and you get a visceral reaction of no keep your distance which goes to show just how covert 19 has changed not only our behavior but also our perceptions of physical contact and now imagine what this means for cinema in general we looked into how film productions are evolving to stay in the game. well things have changed a lot that nucleon masks and social distancing are mandatory now people carry in film studio outside sofia as are covert tests for anyone who comes on set. but unlike most hollywood studios movies are still getting made. like the us thriller till death produced entirely under the pope at night restrictions frank director renny harlin is here preparing his next action movie he says the coronavirus book

hildebrand: there was a speech by bobby kennedy when he called for this. undoubtedly.ks that are severe risks. we are beginning to see them. they are manifesting themselves in flooding and fires and all kinds of natural events, and to simply ignore them and pretend they have no cost would be a great mistake, so i think this risk-adjusted optic to returns is critical, and how exactly we will measure gdp 20 years from now i think is very hard to tell, but i think there is no question that some of these risks that are already manifesting themselves today will have to be incorporated into the way we think of investing, into the way we think of measuring, and i would put into the way we look at prosperity, frankly. >> where do you see the regions that are doing better and the ones that worry you? ldebrand: there was great pivoting with the banks, with 63 easing policy. they are very easy. judging by looking at financial conditions, we should see growth edging up. what has been holding this that were upsetting have been betrayed risks that we talked about, geopolitical risks

and that george hicks, peter hildebrand and richard taylor's detachment had not yet crossed. no change could or would be made from completing the journey by land. that it was evident these alarming tales about the roads to missouri were in great measure magnified for effect. but however true the scarcity and high prices for supplies immediately on the road might prove to be, that supplies should be procured, cost what they would, if they were to be had at all within reach of the route of their travel. preparations were then directed to be made for taking up the line of march the next morning, which was done accordingly. and i might add that while the cherokees were in charge of their own removal, there was never any complaint of lack of food on the way. and ross goes on to say the descending boats could not be prevailed upon me to -- upon to stop and take me on board. after thus being detained two or three days i determined not to wait any longer for passage by water. and i procured the loan of a horse and rode down in two days to the boat accompanied by my brother. and the n

hildebrand was also speaking about the lack of confidence in the response.etty complicated stuff. we haven't been here before. i think the fed easing 50 basis points, i put that low in terms of an adequate response. there's got to be something that confidence that the testing and that whole process is in the hands of people that are competent and have the wherewithal to get this done. the second thing is from a fiscal response, i don't know if it is putting money in people's pockets. the conversation around payroll taxes, those of the types of things that can help, but again, we haven't been here before. alix: dean, thank you so much. are you doing the elbow thing or the hand thing? dean: about. alix: that's mike -- elbow. alix: that's my first elbow. thing [laughter] viviana hurtado is here with first word news. viviana: president trump says he will seek a payroll tax cut and relief for industries hit by the new coronavirus. the president is promising to unveil what he called very dramatic action to support the economy. bloomberg has learned for now, the ai

honest i was almost shocked shocked because the excavator operator said that meeting our regular hildebrand's grandchildren was like hitting the jackpot lotto why asshole. yeah there's a lot to live up to. nowadays many in eastern germany feel there's no one on the political stage who represents that interests as a xmas from our cloud as a nation for a start it wasn't a reunification team one system simply imposed itself on the other as i'm west germany didn't bother to even consider if there was anything in the east german system that could have been useful to fix the problem boosted cohesion they didn't think what aspects of east germany should we take a closer look at maybe keep they only cared about things that related directly to a market economy and that was a mistake but. how he had different often spoke to her children about the full of the war about the joy if we unification and the mistakes made in itself to mass. ratio to maybe 3 and just a downward. keep going. where's the man in the moon. trance and then tony i go back on the record this time they're on their way to saxony the pa

i love what hildebrand barged and the rest of you guys have come up with, the future is running at uson a time continuum i think that is billion in that you go out to future and compounding back to the present reality. discuss. scott: one of the things we have noted is that the covid crisis has accelerated many of the trends that we saw in place before the crisis. for example, when we look at deglobalization, which is something that the u.s.-china trade tension had really put in place in investors' minds, that has been accelerated by the health concerns. the issues around sustainability and putting together a supply chain globally amidst this type of crisis. inequality, another of the trends that was in place that has been exacerbated, accelerated by the covid crisis. even policy resolution, to bring it back to the financial markets -- look at the changes that have gone on in central bank policy, that were gradual and step functions before have just been lurched forward. nasdaq 100, 300 points from a record high, futures up 83. as part of your leap forward where this natural disaster

guy: blackrock vice chairman philipp hildebrand speaking with bloombergs francine lacqua in davos.nce sector throughout the week. look at the great names we have lined up. last week was about u.s. bank reporting, this week is it is about bloomberg talking to the biggest bosses of some of the u.s. biggest banks. they are all coming out of the world economic forum over the next couple of days. this is bloomberg. ♪ guy: live from london, welcome to bloomberg markets. time for a bloomberg business flash, a look at the biggest business stories in the news right now. cook sayso tim everybody knows what is going to be going on next in terms of the tax story. let me bring you what is happening with that. need to get more details. -- timfind that story cook is saying everybody knows corporate tax systems need to be overhauled and he is hoping the debate can take place at a global level. he is speaking in dublin. apple is appealing of $40.4 billion back taxes from the european commission. let's turn to what is happening with airbus. the company is offering airlines derivativeit's new trading

with the excavator operator said that meeting with regina hildebrand's grandchildren was like hitting the jackpot out of yeah, there's a lot to live up to nowadays, many in eastern germany feel there's no one on the political stage who represents that interests as asked most from our club this admission for a start, it wasn't a reunification team. one system simply a closed itself on the other. as i'm west, germany didn't bother to even consider if there was anything in the east german system that could have been useful to fix the problem. boosted cohesion. they didn't think what aspects of east germany should we take a closer look at. maybe keep they only cared about things that related directly to a market economy. and that was a mistake. but how her head of land often spoke to her children about the fall of the wall about the joy every unification. and the mistakes made in itself to mass ratio to maybe if we adjusted downward. keep going. there's the man in the moon. trance and then tony, i go back on the red and this time they're on their way to saxony. the part of the country whe

hildebrand we owned it, and bought it back.record of a record, is this a tough sell to investors? >> so i mean it is a tough sell because the index right now is about 2% but if you're investing in asia the corporate index is 90 basis points f you're investing in europe is it is about 60 basis points. with the dollar weakening over the last two years to the developed currencies it is actually a good investment. right now you have foreign investors coming in. you have insurance companies, people like me, the crossover investor being a multisector guy we still think it is a good opportunity. don't fight the fed. cheryl: is there risk in this? >> the risk would be rates back up with longer during rage holdings, but right now we think the fed is all in. continue to evolve their policy we get something on the fiscal front, that is even better. even better opportunity is in high yield or even emerging markets. so those are another leg of the trade. first impact is investment grade corporates with the fed stepping in very, verying a ag

worked tirelessly and spared no .pense to help them succe han sim hildebrand loved to laugh and be sillypecially with her children and grandkids. her son said she made it easy for people around her to rkeax. a hard wwith a green thumb, han turned her successful business, and was a founding vendor at the columbia .farmers market in missou she was also a leader in her church, and even at 71, woke upr at 5:30 day for the morning service. 77-year-old paul j. foesy jr. felt aonsibility to give daughter said.untry, his he was a lieutenant in the army and served in the korean demilitarized zone. most recently, he worked as an elections judge in chicago. family was the center of paul's life. he taught his kids the importance of service, and it was important to him that ewaveryone's voicheard. his loved ones knew him as a risk-taker who loved to be silly and greeted everyone with a smile. pharmacist ed mcfall spent more than a half-century fighting to bring better ewalthcare to small towns like the one he p in. his work took him to oklahoma city, where he served on the bored of the oklahoma healt

to be honest i was almost shocked shocked that the excavator operator said that meeting regina hildebrand's grandchildren was like hitting the jackpot in the lotto why our. yeah there's a lot to live up to. nowadays many in eastern germany feel there's no one on the political stage who represents that interests as i asked mr macleod a submission for a start it wasn't a reunification team one system simply imposed itself on the other as i'm west germany didn't bother to even consider if there was anything in the east german system they could have been useful to fix the problem was boosted cohesion they didn't think what aspects of east germany should we take a closer look at maybe keep they only cared about things that related directly to a market economy and that was a mistake but. how they had a plant often spread to her children about the full of the war about the joy if we unification and the mistakes made in itself to mass. ratio would have maybe a 3 in just a downward. keep going. where's the man in the moon. trance and then tony i go back on the red this time they're on their way to s

rafael hildebrand's unique mix of dance and politics is claiming a long overdue space for urban dance in mainstream culture. and cypriot designer studios will satisfy uses with function and 3 d. printing technology and his growing collection of contemporary furniture. well no doubt you've experienced it by now here watching a movie when 2 characters go to embrace each other and you get a visceral reaction of no keep your distance which goes to show just how covert 19 has changed not only our behavior but also our perceptions of physical contact and now imagine what this means for cinema in general we looked into how film productions are evolving to stay in the game. well things have changed a lot that new boy masks and social distancing are mandatory now with people carrying film studio outside sofia as are covert tests for anyone who comes on set . but unlike most hollywood studios movies are still getting made. like the us thriller till death produced entirely under the pope at night restrictions frank director renny harlin is here preparing his next action movie he says the coronav

greg garland of phillips 66, dave hager of devon energy, harold hamm of content resources, jeff hildebrand of hill corporation energy, vicki holub of petroleum. mike sommers of the american petroleum institute, kelsey warren of energy transfer partners, mike worth a chevron and darren woods of exxon mobil. i informed them that we will be making space available in the strategic petroleum reserve to let americans producers served surplus oil that can be served at a later time. there is a tremendous abundance of oil primarily because the virus, the virus has stopped demand including oil. we are working with our great energy companies, these are great companies, they employees hundreds of thousands of people and they have kept america really going for a long time and no big price hikes or no big anything. they kept it going and now they got hit. with all the jobs in all of the good that they do we will make sure that they stay in good shape, america is engaged in a historic battle to safeguard the lives of our citizens, or future society in her greatest weapon is a discipline and determination

rafael hildebrand was born in hong kong, has german and west african roots and grew up in berlin. but hip-hop was these education from his beginnings as a b. boy to his work, as a choreographer director and cure rater well, meanwhile, he's at home on stages all over the globe. and recently won a german dance prize for outstanding artistic contribution. graphic says the award is long overdue. it's the 1st time the german dance prize has honored anyone from the urban dance. john, born in hong kong, the berlin based dancer brings to the stage a fascinating combination of hip hop and folk dance. a scene in his choreography for a theater in the dutch of folks, tens of it's a tigers that nowadays german folk dance is urban dance. that's how people are dancing in living rooms and schoolyards. so we're calling for choreography centers like in france, which include urban dance styles and are possibly directed by people from the hip hop scene people. but we also want these dance styles to not always be put in the box of preventing violence and racism. we are also part of the cultural dialog

jeff hildebrand of hill corporation energy.low of occidental petroleum, mike summers of the petroleum institute. kelsey warren of energy transfers, mike worth of chevron, and darren woods of exxonmobil. i informed them that we will be making space available in the strategic petroleum reserves to let american producers serve surplus oil that can be sold at a later time. there is a tremendous abundance of oil. primarily because of the virus, the virus has just stopped demand of everything including oil. so we are working with our great energy companies. these are great companies. they employed tens of thousands, hundreds of thousands of people, and they have kept america really going for a long time, and no big price hikes, no bake anything. they just kept going. and now they got hit. with all the jobs and all of the good that they do, we are going to make sure that they stay in good shape. america is engaged in a historic battle to safeguard the lives of our american citizens, our future society, the greatest weapon is the disci

greg garland a phillips 66 dave hager of devon energy harold hamm of continental resources jeff hildebrand of hill corp energy vicki hall of occidental petroleum mike summers of the american petroleum institute kelsey warren of energy transfer partners mike worth of chevron and darrin woods of exxon mobil i informed them that we will be making space available in the strategic petroleum reserve to let american produce a store surplus oil that can be sold at a later time there's a tremendous abundance of oil. primarily because of the virus the viruses just stop the demand of everything polluting oil so we're working with our great energy companies are great companies employ tens of thousands hundreds of thousands of people and they've kept america. really going for a long time and no big price hikes no big anything and they just kept it going and now they got it but with all the jobs and all of the good that they do we're going to make sure that they stay in good shape america is engaged in a historic battle to safeguard the lives of our citizens our future society our greatest weapon is the

blackrock's vice chair philipp hildebrand joy does this hour.t misses. market could the be good for trading. good morning and welcome to "bloomberg surveillance." i'm francine lacqua and london. tom keene in new york. we have a number of stories we need to look out for. lvmh and thing is tiffany, after it was on, off. opera oflike that soap a marriage breaking down and being revived by marriage counselors. it is amazing they are still buying and. about $400t was million.

not miss these big guests on bloomberg tv later today, including blackrock vice chairman philip hildebrandher guests. at the breaking news moment out of south korea. we are getting the export and import numbers for the first 20 days of this month. a contraction of 18.6% year on year for south korean imports in the first 20 days of april. exports falling 26.9% year on year for the first 20 days of this month. chip exports falling 14.9% year on year. this of course coming on the back of some stabilization we saw in the month of march after the trade war between china and the u.s. subsided. if we stay at these levels, a contraction of more than 20%. we would have seen such a false for 2008 financial crisis. plenty more to calm. this is bloomberg. ♪ shery: let's get a quick check up on how markets are trading at the moment. kiwi stocks falling for a second consecutive session. we are waiting for the government to ease pandemic restrictions. aussie futures at the moment under pressure, to the downside. we do get rba minutes for their april policy meeting. we are expecting some additional guidan

. >> jeff hildebrand, founder of chairman of appropriate energy we're the only private company here this is the company that's base ed in houston. domestic only exploration of production company and i'm really here today to represent the independent energy companies. the family owned businesses that are in this industry and to give you really that perspective and add to the conversation in that regard. so thank you for your leadership appreciate it. >> appreciate it >> mr. president energy transfer. we're the only -- company so we try to do business with everybody in this room i'm pleased to do it actually. so. >> president trump hosting a number of executives from the oil industry at the white house today to talk about that industry's big problem with the sharply lower price of oil and the shutting down of the economy as a result of the virus we'll monitor for you, see if any head loins come out as they relate to the price of oil and the president's energy policy. in the meantime, you've been lookinging into the market internals and energy has been a big part of the story this week. >>

>>to a majority more likely hildebrand says each party will win a share of the 25 seats, he considers tossups or tight races but republicans aren't conceded the house just yet democrats message guys is anybody but donald trump that's not a winning message chairman of the national republican congressional committee tom emmer says in 2018. >>democrats won their house majority by a slim margin 2% nationally not so big hammer says that republicans can't rally and win back the house and he's putting his electoral faith in the president if president trump can perform at or above his 2016 levels. we definitely have a path back to the majority but democrats argue the data doesn't or you're pushing date into trump country lucinda gwen with the democratic congressional campaign committee says democrat challengers are competitive in 11 districts that president trump won in sure when they vote for democrats they're going to protect their health care when says health care was the issue that drove democrats into the majority in 2018 and given the state of the pandemic she expects that same outcome.