this is "balance of power" on bloomberg television and radio. g television and radio. m mark crumpton with bloomberg first word news. health officials in the united states say there are now 91 confirmed cases of the coronavirus in 10 states. the centers for disease control and prevention say that includes 45 infections among people who were on a diamond princess cruise ship, which is one more than previously reported. 17 of the u.s. cases have been hospitalized, and to have died. polls show bernie sanders dominating the democratic race in california, a day before the primary. one survey has in leading joe biden 32% to 14%. boosted by been california's crisis over income inequality and housing affordability. the state is one of 14 holding primaries tomorrow on super tuesday. long-awaited trade talks between the european union and britain kickoff today. the eu's chief negotiator has warned the u.k. that no deal can provide the frictionless trade that membership in the eu did. the u.k. let the european union january 31.

this is "balance of power," on bloomberg television and radio. s bloomberg. ♪ david: this is "balance of power ," the big news of the day is the surprise emergency rate cut of 50 basis points at the federal reserve. jay powell explaining why he did it, the markets have reacted but not always in a good way. >> we are off the session lows and all three major averages are still lower by more than 1%. many in the market wanted an aggressive response, but now they have to weigh the efficacy of the rate cut. will it do much to combat the economic impact of the coronavirus? does it signal about the health of the u.s. economy? broadly,eing taken up though you are seeing some areas around performance in the likes of the utility sector, which is a high dividend paying sector, upon the proxy getting a boost from the fact that yields are moving much lower today. on the 10 year yield we are down 12 basis points, around 1.03%, a fresh record low that puts us on 1% watched. of course it is not just the 10 years moving, yields are controlled by the fret -- the fe

bloomberg television and radio. ♪ david: this is "balance of power" on blaber television and radio. i am david westin. it has been quite a week in the presidential race. toth carolina gave a wind joe biden and the field narrowed wildly. of theome our panel founder of conservative women for better future and former chairwoman of the massachusetts republican party. she comes to us from boston, and the senior vice president of the public affairs firm who joins us from washington. mark, let me start with you. elizabeth warren is out. is is a two person race. what are the paths for bernie sanders and joe biden? biden's winds on super tuesday were norma's. we have not seen anything like that in a number -- were enormous. acrossdouble digit wins the board. we saw increased turnout in virginia, record turnout, 60% to , you saw joe biden win by 30%. that is something people do not expect but you are seeing the party and voters consolidate around joe biden. going into the next round of primary states, march 10 and march 17, h

ons is "balance of power" bloomberg television and radio. ♪ david: this is balance of power on bloombergadio and television. super tuesday lived up to its name, especially with former vice president joe biden racking up wins in 10 of the 14 states and surging ahead of bernie sanders and what has become a two person race for the nomination for the democratic party for president. we welcome bloomberg political contributor and former john mccain manager rick davis here in new york today after we were together all night last night. news today. we have michael bloomberg, the founder and majority owner of bloomberg lp, our parent company, with a statement he is pulling out. rick: he is pulling out and endorsing joe biden. we have seen since south carolina the coming together of the democratic establishment, the center of the ideological wing of the democratic party rallying around joe biden's campaign and adding power to his wins on super tuesday. it is not over yet. one week from now there a lot of bacon important states. this endorsement will help a great deal in winning those states. will d

bring you more on bloomberg television.ing up. >> we're going to zoom in now to the global supply chain. as theat looks like coronavirus wreaks havoc around the world. want to bring in the founder and ceo of this company that helps companies manage their risk. land.s the lay of the what do supply chains look like now? me.hank you for having it's a pleasure to be here. the global supply chain so disrupted. we are seeing disruptions from people,nd side to labor, shortages as well as raw material shortages. all the to the delivery side. companies cannot deliver to customers. for a very tough time supply chains, supply companies all together. not seeing this top off yet. still more we're expecting in the next few weeks and months. >> are you seeing any differences in regional trends whether it's china, where obviously they've been going for several months now. sort of coming out of it versus europe? and caseschina, we see the have tapered off. largely that is because of the lockdown that have been in implemented. it's not thoug

that is coming up next on bloomberg television and radio. ♪ david: this is balance of power on bloombergelevision and radio. i am david westin. most people, especially the markets, like the $2 trillion spending package we got last week, but some of questions, including david mcintosh, president of the club for global -- the club for growth. what you like about it and what don't you like about it? david m.: thank you and i appreciate the opportunity to talk to you. hope everybody is well. i'm worried about the overall deficit it is creating, the $2 trillion figure on top of the 2 trillion they spent earlier in the year. that is 4 trillion, plus whatever the federal reserve is doing. crisisgnize there is a and the economy is being shut down by different government actions. something needs to be done. within that, what we like is much of the program is set up as a loan program so some of that can be repaid to the federal government. we think that is a smart way to do it. view it as a lost opportunity, the cash payments do not stimulate economic growth , they are just a transfer payment. we

jeff currie of goldman sachs joining bloomberg television in the 8:00 hour as well. us from baron berg. him about theo huge response to this pandemic. please stay with us. worldwide, this is bloomberg. ♪ w?w?uhió'ñó ♪ tom: this morning, this end of quarter does not look like the last quarter end. new year's eve 2019, climate change was all the range -- rage. 90 days later, a pandemic rages. worldwide, a primal scream for government assistance. the president's april hope has become june may be, millions will be furloughed, laid off, or fired. miami,, a doctor in five, commissioner shea, we really do not have time to mourn. londonin new york and and the somber and this of this tent hospital set up -- hospitals of this tent set up out bellevue

♪ >> live from new york, you are watching bloomberg television. this is bloomberg technology.mily chang should be joining us in a moment with our scheduled program. we are taking a look at what down,ed in the markets, but we did get a little bit of buying heading into the close, down 5% on the day. it could have been worse. volatility was all over the map. there was passage of the first -- firstrs bill, stimulus bill. the bill has passed of the house and it will make its way to president trump's desk. this is a $.5 billion that is a spending measure -- $8.5 billion but is a spending measure for the response. the big bazooka everyone is looking for is what the treasury secretary steve mnuchin has been talking about, a multi-hundred billion dollar if not trillion dollar stimulus package that could include everything from loans to loan forgiveness and not just cutting checks to everyday americans as well as businesses. that is what the market is looking for, not just response out of the white house but some sense the measures that are being taken are going to be wide enough in sc

bloomberg on television and radio. ♪ o. ♪ david: this is "balance of power " on bloomberg television radio. everyone sees that there is damage being done to the u.s. economy as it crashes to a halt in an effort to prevent the spread of the coronavirus. but how much is it being hurt, and how can we tell? michelle meyer of banc of america is joining us now. i don't expect you to have all of the answers, but how will we know? michelle: i think we can take it day by day, minute by minute, but the first thing to understand is the spread of the virus. how any people may or may not get it, and when will that peak. that is a very hard thing to try and forecast, but we try to monitor it the best we can. then we think about what the precautionary response is. the initial hit to the economy will actually come from the response of the government, of the private sector to try to stop that spread. the more that the economy shuts down, presumably the better it is in the long run, but in the short-term, it does mean more pain for the economy. we are tracking right now for what is going to be a very

coronavirus and its impact on markets dominated the discussion this week on bloomberg television.are highlights from some of our interviews with high-profile guests in business and finance. >> we've got stock prices and bond prices at the moment effectively discounting a global recession, and potentially some period of deflation. weather returns out like that -- toot is going to bend depend on the economic impact of the supply shocks? >> do you see recession in 2020 and is this like 2008 for you? do you find those comparisons useful? is that the scale of it? >> i think the panic and the scale is in similar territory. i think it is very different than 2008 because we are not looking yet at the financial system which is under threat, what we are looking at is to supply shocks. and the the virus, other from the issue with the oil price war. one of the things i've learned in 40 years in the business, don't see around too many corners. if the virus is well-controlled, and that is a big if, and if we get peace and love breaking out, we could see a stronger second half and a bounce back

and we always enjoy showing you are favorites on bloomberg television.y will become your favorites. here's another function you will find useful. quic -- it will lead you to our quicktake for fast insights into timely topics. here are the quicktakes from this week. >> we are entering an era in which our enemies can make it look like anyone is saying anything at any point in time. >> jordan peele created this fake video of president obama to show how easy it is to put words in someone else's mouth. >> moving forward, we need to be vigilant with what we trust from the internet. >> not everybody bought it, but the technology behind such fraud is rapidly improving, even as worries increase about the potential for harm. this is your bloomberg quicktake on deepfakes. >> deepfakes are audio gaining popularity as a means of adding famous actresses into pornography scenes. they are easy to make and find. there are names for the deep learning artificial algorithms that make them possible. input real audio or video of the person, the more, the better, and the

best," your weekly review of the most important business news, analysis, and interviews from bloomberg television around the world. let's start with a day by day look at the top headlines. flash back to last friday and talks between saudi arabia and russia as oil output cuts collapsed in vienna. opec officials claim they will continue to work toward a deal, but the kingdom of saudi arabia announced it would start pumping more, leading to an uproar when markets opened monday. >> a cataclysmic implosion of confidence in the oil market, in equity markets. to the oil market, the biggest one-day plunge since 1991. >> there has been a really significant breach between saudi arabia and russia. talks broke down very badly last week, and then over the weekend, the saudis have escalated. they have slashed their oil prices. they say they can pump 10 million, 12 million, big increases. they clearly want to punish russia for what they see as being disappointment between talks, the breakdown. this is really unprecedented for the oil market. we haven't seen anything like this. >> we are dealing with a market th

your weekly review of the most important business news, analysis and bloomberg television around the world. let's stop -- start with a look at headlines. global equity markets coming off their worst week since 2008, investors were already on edge and weak economic data from china did not help. >> investors racing for more negativermoil after coronavirus development and according to the lowest level on record, it's bikes around the world. pmi data way worse than expecting. got..3 was what we startednever seen lows in the official number we got saturday, that also came in well below the estimates. services 29ring, so point six, another record low. >> the worst showing a bit of science prompted by optimism that central banks will once again saved the day. he has signaled that he is prepared to cut rates. of doj offered to buy 4.6 sovereign debt. certainly, the financial markets, turmoil of last week in what you are seeing is central banks on a friday that this it is alert that we get, very much in market stability. >> it looks like we will get a meeting tomorrow. >> there is nothing tha

your weekly review of the most important business news, analysis and interviews from bloomberg televisionund the world. let's start with headlines. with cases of coronavirus mounting and equity markets coming off their worst week since 2008, investors were already on edge. weak economic data from china did not help. >> investors racing for more market turmoil. chinacturing activity in falling to the lowest level on record in february. pmi data way worse than we were expecting. >> records tumbling in china. 40.3 was the number we got. lowave never seen that since we started. in the official number we got saturday, that also came in well below the estimates. nonmanufacturing, so services 29 -- services and construction, 29.6, another record low. >> the worst rout showing a bit of science prompted by optimism that central banks will once again saved the day. -- save the day. buyapan the boj offered to $4.6 billion of sovereign debt. -- aare saying as recession is likely. >> certainly, the financial markets, turmoil of last week in what you are seeing is central banks is that signal alert. >>

this is bloomberg. ♪ i am kevin cirilli, chief washington correspondent for bloomberg television and erg radio. joining me from capitol hill is senator chris coons, democrat from delaware. where do things stand in terms of negotiations on the economic stimulus bill? nightoons: after a long of negotiations it is down to shuttle diplomacy between senator schumer and treasury secretary nugent. billbig pieces of this were result on a bipartisan basis. billion in new lending authority for small businesses and nonprofits that employed fewer than 500 people. turn into grants for companies and nonprofits that keep people on payroll or bring them back onto payroll. that is one of a number of positive provisions. broadly there is agreement on immediate cash payments to individuals to put a floor under families who are facing of significant financial pressure. where we have not come to a final agreement is around transparency 20 $500 billion corporate bailout fund that as of the last briefing i got still had a lot of discretion to the treasury secretary and not a lot of transparency. if we canno

this is "balance of power" on bloomberg television and radio. ♪ david: this is "balance of power." david westin. talks stumble all treasury yields plunge to new record lows over concerns of the coronavirus and what effect it may have on the global economic recovery. we now have more. >> we are heading towards the lows of the session. i would say that is a dramatic move. we moved by 2.5% every day this week. we started the week with a big move to the upside and wiped out gains. the stock market is starting to reflect the fears you are seeing in the bond market. anywhere you look, you are seeing yields absolutely tumble. the 10 year is at 72 basis points. the farther you go out on the curve, 30-year down by 27 basis points, the biggest one-day drop since 2011. serious reflection on how concerned the market is on the economic growth dori. david: that should be enough, but it is not. we have oil and look at what is going on with oil. -- >> is now at his lowest since august 2016. deal witht going to what could be the biggest man stock in years. it is a brutal story. oil is tied to econo

stay with bloomberg television. more coming up around the world.loomberg. ♪ ♪ taylor: welcome to bloomberg markets. down: we are counting you to asia's major market open. the top stories we are covering this hour -- the fed launches an unlimited bond buying program and bizarre warnings about the virus impacts. the imf says the recession is likely going to be worse than other financial crises. $2 trillion u.s. stimulus plan falls again in the senate. de

ahead on bloomberg television, much more on the market selloff at the close of trading in europe. ming up. this is bloomberg. ♪ guy: britain delivers a coordinated fiscal and monetary's response to the virus. markets wait to see what the united states and europe cantilever. sharplycks trading lower as investors growing impatient with the lack of action from the white house. the pressure is mounting on president trump and his team. european stocks are at session lows. christine lagarde warns unless there is action, could be facing a similar shop to 2008. angela merkel says berlin will do whatever it takes. live from london i'm guy johnson with vonnie quinn new york. we are coming you down to the european close on bloomberg markets. ♪ vonnie: another difficult day in u.s. markets. the 12th down day in 15 sessions. almost 18% lower than the high on the s&p 500. down 3.7%. every single move in the s&p is lower. less than half a dozen stops

best," your weekly review of the most important business news, analysis and interviews from bloomberg televisionround the world. let's start with a day by day look at the top headlines. with cases of coronavirus still mounting and equity markets coming off their worst week since 2008, investors were already on edge. after weak economic data didn't help from china. bracing for more market turmoil after a weekend of negative coronavirus developments. manufacturing activity in china falling to the lowest level on record in february. nations around the world. pmi data way worse than we were expecting. give us the breakdown. just tumbling in china on this data. so 40.3 was the number we got. we have never seen a print that low since the series started. the official number we got by the way on saturday, that also came in well below the estimates. you are looking at a number of about 35.7. nonmanufacturing, so services and construction, 29.6, another record low. ut sinceorst stock ro the global financial crisis showing a bit of signs of pausing this month prompted by optimism that central banks will on

of power" on bloomberg television radio.g first word news we turn to ritika gupta. ritika: political enemies may form an alliance. nancy pelosi said she is close to a deal with the trump administration for the coronavirus. have been holding out for paid sick leave and insurance for the unemployed. more may be tested for the coronavirus. there will be many more available tests. there has been growing frustration that the u.s. was not able to max the response of nations such as south korea which is testing 10,000 people a day. canada's parliament is shutting down for at least five weeks. the government said the move is to keep lawmakers from contributing to the spread of the coronavirus. this comes after prime minister justin trudeau's wife tested positive for the virus. the prime minister had been self imposed quarantine. the british government is battling criticism of its coronavirus plan which has led to blunt talk of the pandemic stole with a number of modest steps. the government plans to shift away from efforts to contai

quick reminder, whether you are in the office or working from home, you can watch bloomberg televisione using the function tv . catch up on all the interviews and conversations, join the conversation as well through the ib link on the page. this is bloomberg. ♪ mark: i am mark crumpton with "first word" news. a grim outlook from the u.k. government the chief scientific adviser says 20,000 deaths from the coronavirus wouldbe "horrible" but actually be "a good outcome." there are 2000 cases of coronavirus in the u.k. 69 people have died. prime minister boris johnson declared to the u.k. is fighting a war against the outbreak with loans and grants for businesses to shore up the economy. the white house is asking congress to approve a sweeping emergency stimulus package to help businesses and taxpayers cope with the economic fallout of the coronavirus pandemic. it is the most far-reaching rescue package since the great recession of 2008. treasury secretary steven mnuchin is outlining the $850 billion package to senate republicans today with the aim to have congress approve it this week

coming up later today, later this morning on bloomberg television, a conversation on america's in oil on energy policy, a conversation with the united states secretary of energy. please stay with us. this is bloomberg. ♪ >> we are moving much faster than we moved into thousand eight. we are being more aggressive. is there more we can do? yes. we are being very aggressive. thecine: that was minneapolis -- president. neel kashkari. at the packages put in place right now, i don't know if there is a template for how you do it right. i don't know if the u.k. was at the forefront because first we saw coordinated action between boe and treasury. it is really trying to help -- to tell people that not only do not default, but if you are unemployed, you will get benefits. sonja: i think you are already raising the right word. coordination is the one that we are most looking after, because it is very different. it is not about bailing out big banks, it is not about allocating money to big corporations. we are now facing a crisis for sme's and individuals. with countries going into lockdown, it i

we will have ecb president christine lagarde's news conference on bloomberg television at 1:30 p.m. time. this is bloomberg. ♪ matt: welcome back to "bloomberg markets: european open." 17 minutes from the cash trade and it will be difficult today for those who are long stocks. equity index futures are down almost 7% in germany, and more than 7% in paris. that's get the bloomberg first word news. tothe u.k. is expected announce it is moving away from trying to contain the virus, instead focusing on slowing the spread. include closing schools and stopping large-scale gatherings. the aim is to push back the peak of the outbreak to summer months . russian oil producers may be best placed for cheap crude coming from saudi arabia, according to a string of analysts including bank of america. the lender says russia can keep pumping until oil prices hit $15 per barrel due to low production costs and a flexible tax system. sparking a repeat of the financial crisis. will reveal its policy response to protect the region's economy. christine lagarde has promised action, telling european leaders

don't miss those interviews here on bloomberg television this morning. morning. ♪ welcome back to bloomberg markets. right now, we are less than 40 minutes away from the start of cash trading. we do see futures down across the board after three days of gains. let's get the bloomberg first word news with leigh-ann gerrans in london. leigh-ann: the u.s. has overtaken china as the country with the most recorded coronavirus cases. that is after a large jump in infections in new york. it is also down to the u.s. wrapping up testing in recent days. according to figures from johns hopkins, there are now over 530,000 cases worldwide. 24,000 people have died, and over 120,000 have recovered. the u.k. is offering to pay self-employed workers cash bonds to as much as 2.5 thousand pounds a month. it will cost around 9 billion pounds, about 3.8 million people eligible for the bonds. that is about -- 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. matt: thanks very much. l

we bring you special coverage here on bloomberg television. ♪ ♪ this is bloomberg markets and i am vonnie. corporate clients and consumers are pouring in as they seek shelter. joining us on the phone is mike mayo at wells fargo securities. thank you for joining us. i was just speaking to gina martin adams and banks are down almost 40%. changing? that ke: don't get too excited. this is a wonderful time to be a buyer of bank stock. today, banks are part of the solution. yes, there is a bank earnings recession but not a bank balance sheet recession. let us talk about the earnings recession. these are sobering times. we expect credit losses to increase by double. the debt interest margin to decline in earnings down over the next two years. that is bad. short-term profit are less important. layoffss are suspending and banks are waiving fees and showing forbearance. regulators voluntarily give buybacks. they are higher up in the priority order that shareholders and short-term profits. that will be seen in the results of the next couple of quarters. do you want the good days? vonnie: i do. mike:

coming up on bloomberg radio and television, bill dudley, bloomberg opinion writer on his analysis betweenand fiscal response. this is bloomberg. ♪ ♪ this is bloomberg "surveillance," taylor and france dean from london and new york -- francine from london and new york. us on the front is kirill dmitriev. thank you for joining us. you look at the price of oil which oil does not want to defend and you look at the coronavirus, how much of an impact will this have on russia in the short-term? kirill: russia is well prepared to withstand different challenges. we have one of the lowest that's of percentage of gdp whereas the world as a whole has 325%, the gdp ratio much higher than the 2008 crisis. russia has a solid budget and can handle the situation well. andave closed the borders have lots of research facilities researching new technologies and a vaccine. francine: the price of oil is being crushed. do you expect russia and saudi to start talking about the agreement? kirill: at this point, there are no discussions on this and it is a question to be asked to the minister. a proponentu were of

coming up now, we have balance of power with david westin on bloomberg television and bloomberg radio from bloomberg's world headquarters in new york for our viewers,r our radio i'm david westin. a hiring surge last month in the coronavirus. kevin cirilli in washington on the administration's response. and a two man race that has become the democratic contest. we got the jobs report and are encouraged. but that was before the virus. carl: when we look back to what of happening, stocks off all-time highs. 10 year yield were 160. a very different environment and then the virus hit. david: let's try this again. i want to hear every word you say. carl:

. ♪ ♪ ♪ >> live from new york, you are watching bloomberg television. this is bloomberg technology.uld be joining us in a moment with our scheduled program. we are taking a look at what down,ed in the markets, but we did get a little bit of buying heading into the close,

." ♪ david: we welcome now our audiences from bloomberg television and bloomberg radio.passed a stimulus package late last night. now legislation to combat the economic fallout from the virus house. the we welcome now the speaker of the house, nancy pelosi, joining us live from capitol hill. madam speaker, thank you for being with us. we appreciate it. the have any doubt this will get past, and when do you think this will get passed in the house? rep. pelosi: no doubt whatsoever. last night we gave senate to members -- we gave notice to members that we would be coming to the floor on friday morning. we had to give 24 hours notice of bringing the bill to the floor. so that will be friday morning. it will be a lively and wonderful debate. we are very proud of the legislation. it will have a strong bipartisan vote and hopefully, by noon, we will be finished. it will depend on how carefully we have to come in on the floor to vote. proud of the legislation, because we believe many elements of the house democratic bill were contained in the senate bill. it helps with the suppo

and working in locations to bring you this program and all of the programs you are seeing on bloomberg televisionan incredible effort in human cooperation. scarlet: collaboration and patient. romaine: we should think all of them. scarlet: we just happen to be the people ecb there is a lot of work being done behind the scenes. an fse group, and -- and add the c group, common cause -- an group is asking questions. we are having 10 -- heading to kevin cirilli. kevin: i am kevin cirilli and i am joined by loeffler senator kelly loeffler senator from george piro thank you for joining me. sen. loeffler: i appreciate being on. kevin: when will the economic bill be passed that which mcconnell has said will provide relief for many americans who are facing down the prospects potentially of losing their jobs? sen. loeffler: that is an important question. we have committed to staying through the weekend to get this past era i am not leaving until we get it done. i spent roughly the last 10 days on the phone nonstop with hospitals, nursing homes, georgians, families, understanding what the needs are and make

. ♪ emily: welcome to a special edition of bloomberg television, "markets uproar." you from the san francisco area where i am sheltered in place. orders that we not leave our home amid this coronavirus outbreak in the interest of public safety. bear with us as we bring you the news as best we can. first, i want to

electric trading as a result of the coronavirus outbreak, but in a conversation earlier today on bloomberg televisionident of the new york stock exchange said there are absolutely no plans to close the trading exchange. take a listen. >> the markets are functioning properly. there's a lot of uncertainty around how the situation will continue to evolve, what the impacts both short-term and long-term on companies, and the impact more broadly. butt of that is uncertain markets are always operating with some degree of uncertainty. it happens to be higher than normal. it is important to recognize they are functioning properly. very different from whether or not we like the prices or whether or not we think the prices are reflective of where the economy is going. it is important to recognize the market does not actually reflect the strength of the economy, it reflects public sentiment about the strength of the economy. it's reflecting how people are feeling and that is why you are seeing the moves. >> we could see a much wider band of possible outcomes. we are seeing enormous volatility, but that market se

♪ one more time >> welcome to bloomberg television and to our bloomberg radio audience.ed by steve ballmer, the former ceo of microsoft and the owner of the l.a. clippers. always good to have you with us. about an ask you important initiative that you have been working on via usa fax. you started this organization to dig into data and you have been digging into data about coronavirus. you are releasing a slew of new facts today. talk to us about what the data is telling you and the surprising trends you're seeing. steve: let me share a little bit. faxmentioned we started usa -- usafacts focused on taking u.s. government information and publishing it. it has been hard to service and bring together data about the disease all the way down to the county level. we have essentially been sourcing data from the cdc but from county health departments bringing it together and publishing it on a county by county basis. information from the cdc itself and 20 government agencies for this amalgamated view of the information. theink it points to importance of integrated government data

eastern, right here on bloomberg television. guy: what have we got coming up?gns of stabilization. it has been in freefall recently. we are also seeing some of the mining stocks coming up as well. above at $45, brent back $50. the fact it is back above $50 again tells you just how bad it has been. we will look at what traders are watching ahead of the opec meeting coming up very shortly. this is bloomberg. ♪ ♪ vonnie:vonnie: live from new york, i'm vonnie quinn. guy: from london, i'm guy johnson. this is "bloomberg markets." vonnie: it is time for futures in focus. joining us from the cme is alan kman of -- is alan knuc agoura financial. what numbers are you looking at? alan: for me, it is not about the $50. obviously, we need to get back .o a $50 trade $50 is the most important level for me because that is the level the vix did not break through on friday. we got to $49 and change. the market is telling us is there's less macro fear then there was in 2018, when we hit $50. what caused that was the rise in 10 year yield. the markets right now are seeing signs o

would like you to know is there are a lot of different ways to look at bloomberg radio and bloomberg televisiondo that across all of our digital products and on the libor terminal -- tv is a good way to approach this. tv will give you all of the important conversations throughout the day. this is bloomberg. ♪ viviana: you are watching "bloomberg surveillance." i'm with jan hurtado. airbus is withdrawing its earnings guidance and its proposed dividend payouts. the as the latest sign coronavirus pandemic is ripping through the airline industry. it is a reaction to reducing liquidity. and passenger flights are suspended to most as nations as largest deepens for the air corporation in the world. that is your bloomberg business flash. tom: thank you. ofas looking at the data off my wonderful bloomberg terminal. what you see is a stronger dollar. this is really important with more e.m. angst this morning. the mages are doing better than what we are seeing in the emerging markets. a lot more to come. this is bloomberg. ♪ when you move homes, you move more than just yourself. that's why xfini

we will have that interview here on bloomberg television with the take on what is happening with thisarket. right now, we are seeing the airline stocks in europe under a considerable amount of pressure. -- just ryanair, but i ag easyjet, lufthansa under considerable pressure. argue,l action, i would is at the front end of the curve, particularly in the united states. we are still six basis points lower when it comes to german ,en-year -- german two-year -83. let's get more of the impact of the coronavirus right now. we are joined for analysis by john hardy, saxo bank head of fx strategy, joining us from copenhagen. we are looking at action on the monetary and fiscal front. we seen a bit of a bounce in stocks. if we do get coordinated response, how do you think different assets will react to it? considering the almost record pace we saw in the selloff, especially in equity markets last week, the two-way risk is very much there. on the monetary policy side, i really won't be impressed with much. we are talking about a shutdown activity. cutting rates is not going to increase economic ac

tonight on bloomberg television and radio we will have a special edition of "wall street week." hear from former secretary treasury larry summers, stacy cunningham, nancy pelosi, and many more. that is coming up at 6:00 tonight. this is bloomberg. ♪ david: this is "balance of power." i am david westin. the global economy is being tested like seldom before. though it went into the crisis with strength, it went in with record disparities between the rich and poor, particularly in the developed world. we welcome and economist who has studied the history and the politics and etiology underlying those equities. piketty, author of "capital and ideology." great to have you with us. i want to take this thousand page book everyone should read and put together what we are experiencing right now. is there any correlation between inequality and the virus? it looks like the virus does not pay attention to which society has been more equal or less. the book is very readable. i am sorry it is so big. it can be read by anyone. what it shows you is in the context of the virus today, in the times

coming up, we have "balance of power" with david westin on bloomberg television and radio. king at the dropping out of elizabeth warren from the democratic nominee race. this is bloomberg. ♪ david: from bloomberg world headquarters in new york to our tv and radio audiences worldwide, i am david westin. welcome to "balance of power," where the world of politics meets the world of business. on the brief today, kevin cirilli in washington on elizabeth warren dropping out of the presidential race. neil armstrong in new york on the spread of the crown of virus and the rollout, and annmarie cutern on opec's gamble to russian support. an important of -- elizabeth warren out of the race. unclear who she will endorse and where her supporters will go. with her out of the race it becomes a race between bernie sanders and joe biden. the map looks increasingly like it would be more of a positive for joe biden as we head into the next round of states that are going to vote in more than a week. that being

with so many people working from we spokend the world, earlier with the cisco ceo on bloomberg television we have seen unprecedented volumes. to your point, critical infrastructure, working from home, and internet service providers servicing all of us who are trying from work from home. cloudnched both free security offers and free webex offers. in the first 24 hours of putting that out, we had 240,000 new users sign up. this is a platform that before this was running 300 million users per month. meetings aat 4.5 day. that does not even include one-on-ones. we are at 12 billion meeting minutes through march so far. perspective,t in during the u.s. during any one hour period, we will do 100 million meeting minutes in just one hour in the united states right now. we have seen incredible demand. our teams are tired, but when you are talking about a platform that is now trying to support three to four to five times the volume that it was ever built for four weeks ago, they have done enormous work to be where we are. >> have you been able to identify any weaknesses in the system? because no on

he was with us for today's wall street week update on bloomberg television and on bloomberg radio.ow let's get more on the coronavirus with dr. beth obama'sed as president senior director for global health security and bio defense on the national security council , a position president trump eliminated, now she is vice president for global biological policy and programs at the nuclear threat initiative. one of the reason you are here is you are an authority, but also you came out with a report last fall that said we are not ready for a pandemic. it looks like you were prescient. eron: thanks for having me. we released a global health security index which looked at 195 countries for their pandemic preparedness for exactly threats like the coronavirus we are facing today. what we found is no country is fully prepared. in fact, the average score for countries across the board was just 40.2 out of 100. it is important to note that while the united states is the country that comes out on top as the president mentioned in his remarks of the press conference, we have a score in the low 80

ons is "balance of power" bloomberg television. ♪ david: this is "balance of power ."iting for a daily briefing from the white house from president trump on what is going on with the coronavirus. we will bring you that when it happens. we want to turn to what the government can do in response to an epidemic, including the department of homeland security. an important part of the effort to battle this virus. we welcome the former home insecurity secretary who served under president george w. bush and the cofounder and executive chairman of the chertoff group. thank you for joining us today. let's start with these from this morning, the closing of the u.s.-canada border. how does that work and what is the role of home insecurity helping ensure that gets closed? >> the homeland department has responsibility for managing the borders through customs and border protection. what they will do if there was in order to lock on the border is stop all passengers from going back or forth across the border. with respect to trade, if someone is driving a truck with cargo, that may be

believe it thank you for taking the time to join us here on bloomberg television. christopher smart, chief global strategist from barings. i guess you take your opportunities where you find them with their big credit issuances week. party leaders hope for a quick house response to the historic stimulus package. this is bloomberg. ♪ guy: live from london, i am guy. vonnie quinn over in new york. this is "bloomberg markets." let's talk more about the markets and figure out what is happening. equities had that friday feeling, and that is not a good thing. that's figure out what is going on with taylor riggs. taylor: i want to start with major averages. i never want to joke, but what goes up, goes down. yesterday, we were talking about the big gains in your european markets and our u.s. markets. today, that reverses. to 3.5% on some of the major averages here. london off about 5.5% or so. very interesting, what is going on in the industrial index. take a look at the last month. from our peak february 12 down to earlier this week, you are off more than 42%. in the last

coming up, it will be super tuesday on "balance of power" with david westin on bloomberg television and radio. this is bloomberg. ♪ david: from bloomberg world headquarters in new york to our tv and radio audiences worldwide, i am david westin. welcome to "balance of power," where the world of politics meets the world of business. the brief today is all about the fed. peggy collins in washington on what the fed did and why jay powell says they did it, and abigail doolittle with me in new york on the strong reaction in the markets. peggy, lay out for anyone who doesn't know what the fed did this morning. peggy: the fed did what is called an interim meeting cap. they did it at 50 basis points. this is the first cut outside of a scheduled meeting we have seen since the financial crisis. essentially the fed came out and said we understand there are concerns in the economy about how the coronavirus could unfold and what that could do to the economic outlook. we are still monitoring the situation. we think the fundamentals of the u.s. economy are still strong but we are adding cushioned insur

this is "balance of power" on bloomberg television and radio. ♪ the united- david: states may have thevanced health system in the world but that may not help us dealing with what is to come with the coronavirus. lanhee chen is a hoover institution fellow and stanford university director of domestic policy studies. lanhee chen joins us from california. welcome. give us a sense of where we are with our public health system in this country and what we need to do in response to this virus. lanhee: at this point the challenge is we are seeing certain parts of the country where the public health response has become elevated and more aggressive. here in northern california, while we do have a cluster of cases in washington state, in those areas you see public health agencies taking a more aggressive stance to mitigate the spread of the virus. that is things like social distancing, canceling events, making sure those who are at risk, the elderly, understand the need to take additional steps to protect themselves. that is still a regional phenomenon. the question is going to be if and when it b

i appreciate you coming on bloomberg television to break that down. heard it therefrom congressman brady. thursday or friday vote is what he is anticipating in the house of representatives and for small businesses and medium-size businesses to call their bank, call their lender in order to get some more information about how to get access. vonnie: thank you. that is kevin cirilli in washington. this is bloomberg. ♪ in london, i'm guy johnson with vonnie quinn in new york. this is "the european close." let's get more details on what is happening with the rally we see in stocks. let's go to taylor riggs. taylor: i want to come and take a look at what has been going on here. firmly in the gains following some of the gains we have seen overseas. i want to look here at the 10 year yield. . falling about two basis points are so. we were down more than that, only about 82 basis points or so on the 10 year yield. you are getting weakening here in the u.s. dollar. showing that a lot of the liquidity and the funding dollar strength we were seeing has eased back

for the white house view on the jobs report, we are joined on bloomberg television and radio by larry kudlow, national economic council directly -- council director. i know you must be exhausted this morning, but let's get straight into it. the good news is the labor market going into this growth scare looks pretty decent. yes, the labor market looks excellent. very strong. incidentally, most sectors of the economy look strong. we are through the first two months of the first quarter, so we've got january and february, and some of the china influence is already affecting us, but the numbers are probably better than anybody thought. you may be 2.5% in the first quarter. i know as a realist, economic growth is likely to slow in the second quarter, and maybe the third. i don't want to get too far ahead of it because some of these virus numbers in china are way down. outside of china, not so much. the u.s. economy is very strong. 273,000 jobs, and as you know, with revisions, 358,000 jobs, that is a blowout. wage rates still rising. the blue color boom still there from the data. middle an