deutsche bank so he said publicly the russians paid for it but it was deutsche bank actually so it wasery confusing if it was the russians or deutsche bank. [laughter] and so deutsche bank has been in russia on and off for more than a century and has extraordinarily close ties with russian companies in the russian government and ackerman when he stepped down as ceo he was offered a job in the kremlin running the russian sovereign wealth fund and vet be known as a spy bank because it has offices all over the world for russian intelligence and financing the kgb during the cold war now run by a close pal of putin and it links and it is so close the son of the coo was running the moscow operations until he died in a mysterious accident. [laughter] vet be in deutsche bank physically have the entire team that started the investment bank business where is higher directly from deutsche bank the two banks that lent each other tens of millions of dollars in recent years hundreds of millions of dollars. that has been lent. so it offers a very neat explanation for why deutsche bank would be willin

russians are deutsche bank.[laughter] but deutsche bank has been in russia for more than a century. it has extraordinarily close ties with russian companies and the russian government. and joe ackerman when he steps down and to offer him a job in the kremlin and vt be which is known as a spy bank because it has officers all over the world as an outpost for russian intelligence financing the kgb during the cold war now run by a close pal of putin. the or the sun was running the operations until he died of a mysterious accident. [laughter] vt b and deutsche bank have the entire team that started the investment bank business accrue higher directly from deutsche bank. they lend each other tens of millions of dollars it's hundreds of millions of dollars not tens of millions. so of that explanation why deutsche bank would take risks. may be those loans were guaranteed by vt be so therefore the kremlin financing trump not deutsche bank. that is the delicious and entirely plausible rumor. i and so many other journalist

the ceo of deutsche boerse, theodore weimer, has been appointed to deutsche bank's board.hat is to say, the supervisory board, not the management board. there is a difference in the two bodies in terms of the german corporate structures. coming up, italy has overtaken china as the country with the highest recorded death toll in the world from the coronavirus. we will give you more on that. remember, bloomberg radio is live on your mobile device. if you are in the london area, tune in on dab digital radio. do tune in. this is bloomberg. ♪ matt: welcome back to bloomberg markets. this is the european open. 50 minutes away from the start of trading in europe and the u.k. we do see futures up about 3% on average across the major indexes. italy has overtaken china as the country with the largest recorded death toll from the coronavirus in the world . despite much of the continent being locked down, the pandemic is gathering pace in spain and france as well. europe's industrial par heartland here is feeling the heat. business confidence in germany has plunged the most in almost

deutsch: it's difficult to speculate.y start to get most of the symptoms. when the fevers spike, the severe muscle pain, the body aches that people are typically describing. in terms of that resulting in the severe lung damage, we haven't seen any patients that qualify there. but i think it's difficult to speculate. because what are their underlying conditions? what other factors, what was their access to health care? we don't have that information to speculate what is specific about those cases. it certainly is tragic. like anything, it should get us all concerned and make everybody more aware of what we need to do, which is to isolate, take this serious, to take action now and not be waiting for another week before we get the some sort of directive that we need to do more. >> harris: kaitlin has a question but what we can expect in the warmer months. let's watch. >> i was wondering when it starts to get warmer and we see mosquitoes if we should be concerned about mosquitoes spreading the virus between people. >> harris:

davide will continue with folkerts-landau of deutsche bank. much more to come across all of "surveillance," into our early morning and mid morning in new york city as well. course about the pandemic in the united states. also we will look at global banking, knowing better to talk to then sergio armani -- sergio ermotti. this important thursday for economic data. this is bloomberg. ♪ viviana: this is bloomberg surveillance. let's get to bloomberg first word news. we begin with the largest economic rescue in u.s. history, the senate approving a $2 trillion package aimed at stopping the financial damage caused by the coronavirus outbreak. devote 96-0. more than 150 million american households will receive -- the vote 96-0. more than 100 50 million american households will receive checks. jerome powell will sit down this morning for a rare live tv interview. mr. powell will be interviewed on nbc's today show at 7:05 a.m. new york time. the fed is in the process of deploying unprecedented tools to prevent the health crisis from becoming a financial

deutsche post reporting ebit that fell short of the estimate.d's largest express delivery company suffer negative impact from coronavirus of 60 to 70 million euros, but confirmed its guidance for the full year. brave move. always mr. frank appel, good to have you with us. 2008.th of february we are talking about global recession. does this feel like the beginning of a global recession? you look through the eye of the 2008 storm. your interpretation this morning? >> i think we are not at that moment. the headlines are, but not the reality, i think. into our trading have seen an improvement year-over-year. if i talked to china, they say it is getting better every day. i think there are encouraging signs. i think we have to stay calm. you have to be clear what your strategy is. do toe to know what we help our customers. we have to go out of that stronger than we went into it as a company. manus: air france is cutting long-haul capacity by 13% and european capacity by 25%. frank, are you cutting your capacity? are you cutting capacity across the sys

from deutsche bank, with us as well, christian.illed these two gentlemen deep in the wealth management and asset markets join us today. .et me show the vix i completely missed this this morning but we need to frame using the standard & poor's 500 where we are versus the lehman low of november of 2008. up we go and we go through 30 and 40. what is so important, this is the 10 day moving average of the vix, the height was up here at 62.36 we are now up at then here is the 10 day moving average. we are really getting up to the tension point and this anticipates the market open. futures, -138. pointsnow 7000 plus below where we were two cups of coffee ago. what is it can be like when the managers get together at pimco this morning? give us an outline of the themes your managers will deal with in your famous morning call. market conditions right now are similar to back in the times of the global financial crisis and in the sorts of market conditions we focus on risk management, liquidity, making approach tociplined managing the assets a

luzzetti ofhew deutsche bank. go -- have any questions, tweet us as well to give us some of your thoughts in what we are seeing in the markets. coming up on bloomberg daybreak: americas, it will be an interesting conversation with jason furman, a former white house counsel of economic advisers. do not miss that interview, 8:00 a.m. in new york, 12:00 p.m. in london. this is bloomberg. ♪ taylor: i am taylor riggs in new york, francine lacqua and london. i do have a chart here, so let me bring this up for you guys because i want to bring this up. matthew luzzetti, deutsche bank chief economist, is still with us. is the bondr me market moves that we have seen. this is the move index which measures the volatility within the bond market, which are ghibli has been much more than with ash which arguably has been much more than we have seen -- arguably has been much more than we have seen. with the global rate moves we have seen this morning, a lift in yield -- what does that tell you about where we are? thatrstly, i have

up next, as deutsche bank -- as a deutsche bank employee contracts coronavirus, we look at the measuresutbreak across europe this morning. in the need to know. this is bloomberg. ♪ anna: welcome back to the european open. increasingly partisan for moves for the european equity market. now more than 2%. u.s. futures are higher, by 3.3%, 3.7 percent. hopes for fiscal stimulus, talks from president trump over a major economic announcement coming. , with hiswill that be official comments around coronavirus and how like flu they have believed it to be? futures the u.s. picture for you as well. even with a very strong gains in futures in the u.s. and in stock markets in europe, it is not making up for the heavy losses of yesterday, where we were down, of course, by 7% on u.s. equity market there about for the major markets are let's go to the bloomberg business flash with laura wright. laura: it sounded like aberdeen has seen its assets drop less than expected, but the slower decline -- lloyds banking group shifting money away from the company. we spoke to standard life aberdeen's ceo about t

in both cases, deutsche steered very rich russians into the trump ventures.st a couple years after american regulators had punished the bank for whisking russian money into the u.s. financial system via latvia. david enrich joins us, finance editor of numbs number of times. his new book is "dark towers. "first of all, congratulations on the book. we wanted to talk with you before the crisis. so thank for keeping this date with us. why is this something that robert mueller and sdny did not come up with? >> well, i think in mueller's case, he was focused pretty narrowly at the mandate -- trump had warned very loudly and publicly if mueller started digging into trump's personal finances, that the president would consider that crossing the red line i don't know if that influenced mueller's thinking, but he did not cross that line. sdny had a ongoing investigation, and one of the things i learned during the reporting for this book, the fbi agents who were running that agent have been talking to some of the people who have direct knowledge of some of the stuff that

torsten slok of deutsche bank. thank you. bloomberg. ♪ with i am mark crumpton bloomberg first word news. president trump says the government is ahead of the coronavirus outbreak and it is not inevitable that the disease will spread in the united states. he spoke to reporters as he left the white house to visit the national institutes of health in maryland, which is working with drugmakers to accelerate research into vaccines and treatment for the coronavirus. washington state is reporting that nine people have died from the virus. at least 100 americans have been infected. governor andrew cuomo says a man north of new york city is hospitalized. the second confirmed case. manays the unidentified commuted to work in manhattan and lives in a home with his children. workses in westchester, in manhattan. has been with his family in westchester. we are now going through possible connections to track down possible connections to find people. mark: he added that a school in of thenx attended by one man's children has been closed as

deutsche. let's dip in. president is apparently speaking with members of the attitu tourism. >> we're working with congress to provide rapid release. wet literally the -- and over 124 countries, i understand, but will emerge. we'll be doing things differently than this country has done in the past for many, many decades. and we're deeply committed to ensuring the small businesses have the support they require. the small business administration announced the disaster loans which provide impacted businesses, with up to $2 million, and we've asked congress to increase the sba lending authority. we'll go up to 50 billion and actually more than that for small businesses. in your cases they're very big businesses, but it's a lot of employees. we appreciate you being here, and maybe in front of the media you could say a couple words about your companies and the number of people you employ? i pretty much know every one of new that respect. please. >> i'm chris desoto, ceo of hilton. >>> we wanted to make sure we lis

from deutsches bank. thank you for taking time with us this money. the swiss national bank was extraordinary. you say they will go stronger, 1.06, 1.05, even down to 1.00, and they will literally have to take the central bank balance sheet and move it over and create a sovereign wealth fund in real-time. what is the timeline on that? george: well, i think the timeline is being accelerated as we speak, given what is going on with global markets. and the virus, we have the opec price down over the weekend. but i also think there is something big and important happening in terms of how the market perceives central banks. there is a massive credibility crisis currently taking place where the market is realizing the central banks can no longer respond to these new shocks. the outcome really is that you shepherd'sthe global asian yield. everything is going down to zero. the only thing we can rely on is the fiscal response, which if you read the headlines over the weekend, does not seem to be forthcoming, at least for now. as a result, you get to see all th

deutsche bank says it will pause future cuts amid its restructuring. welcome to "bloomberg daybreak: europe." u.s. futures on the back foot today after the best three-day gain in mere nine decades for the s&p 500. the dow is technically in a bull market but it is 25% below the february 12 record. in terms of asia, a mixed picture. following that emergency 75 basis point cut by the bank of india. a big drop in industrial profits in china. that is the news overnight out of asia. the 10-year treasury yeild slipped five basis points. risk off coming back into these markets after the powerful risk rally. we ask the question whether it is a bear market after the devastating rest jobless claims numbers, so weakness in the dollar. the dollar is hedging for its biggest retreat since 2009. gold has its biggest weekly advance since 2008 after the effects of the funding squeeze and oil heading for a weekly gain as well. the u.s. has overtaken china as the nation with the most confirmed cases of coronavirus. according to johns hopkins, the u.s. has more than 85,000

henry johnson is cohead of capital markets at deutsche bank.ith you this morning. let me start with a question about the broader markets and the clues you are looking for to whether we substantially priced in all of the downside from coronavirus. is it possible to say that yet? unfortunately, i think it is pretty clear there is potentially more downside to come. it is obviously great to see the markets opening a positive way this morning, but i think this has much further to run. we are only at the beginning of the social isolation in europe and the u.s. and the effects on the real economy are yet to be felt so while there has been a valuation adjustment, it is fair andthat it is a just meant at this point, but obviously, the real effects of individual companies are still only going to be found out over the next couple of quarters. matt: how bad do you expect it to be? theave been talking about people who need it most are probably going to find it difficult to get assistance. restaurant, a a bartender, personal trainer, a lot of those people ar

taylor: i want to bring in jim reid from deutsche bank.e getting a lot of your questions as everyone is trying to digest the markets and we were talking about the stabilization within the investment sector in europe, people writing in asking about stabilization in euro credit and more selling within u.s. investment grade, given the fact that the fed is not buying corporate bonds and the ecb is. fed cannot buyhe corporate bonds. in a crisis, a lot of things change so it would not be -- would not be a surprise if the fed is buying corporate bond. was easier to naturally increase this and last night's move, while it did not give explicit numbers, it indicates there will be a lot of buying of european credit. european investment grade credit has outperformed u.s. investment grade credit. it is a welcome thing or the european investment rate market -- for the european investment grade market. francine: if you look at what norges just said, will we see banks intervening on their currency and is there a race to the bottom that is no good for anyo

deutsche bank room -- moved up its rating on teradyne.did not get the double upgrade that lam did from ubs. vonnie: dave wilson, thank you for that. you can always charts and so on at @nywilson. speaking up, we will speak with the wto director general at 12:00 p.m. new york time roberto azevedo. this is bloomberg. ♪ live from new york, i am vonnie quinn, along with guy johnson in london. this is "bloomberg markets." time for futures in focus. ofey sick, vice president calamos investments, joins us sac, viceoe cu president of calamos investments, joins us over the phone now. -- >> oil will be challenged to the upside. we are already hitting capacity levels as far as what we can continue to store. if the saudi's continue to pump, as they are, and you see the russians also, this will be a challenge soon. vonnie: where could we settle? where does this and? joe: this is true demand destruction, one of the rare areas of the market where you can say, because we have such an enormous glut, before we got to this very situation, at the day, you cou

deutsche bank torsten slok tells what means for the global markets. had a widely misquoted chart can you tells what it said and what it didn't say? >> the point of this chart is to try to figure out how quick was this correction that we saw over the last week, and the answer is if you look at it from the peak that was an all-time hi, how many days did it take before we got a 10% correction? this was the fastest we have seen basically since the 1930s. so the reason why this is interesting is doing from euphoria basically a week ago we are at all-time high every thing is good, now we suddenly have a whole different view now that we come to the end of this week. jack: 's are generally investors are told when everyone else is selling you're supposed be buying. at what point do you determine it's a buying opportunity or you ain't seen nothing yet it's going to get worse? >> the old saying is you do it at the worse and you look at the situation today can get much worse? the problem with the situation is so difficult to figure out what the imp occasions are

a very troubled bank and by some measures you can say it's an insolvent institution is deutsche bank going the way of enron in the near term midge i thought you might have a lot of problems at one point you're off balance sheet driven 70 trillion so if germany going to bail them out i'm glad the u.k. was smart enough to write it and leave you but all the 27 other members of the club will get to pick up part of the bailout which is a big problem but i think the german government will try to i lost. doing the last couple of years the problem is you see the repo market added to 100000000000 it's still functionally broken recall mark doesn't work anymore and they will tell you why. discount or borrowing in the repo market it's a big secret what we've got to do is and the federal. not a federal organization the fed got nothing federal government not a bank we've got to sions because they're just wrote have fun right we've got about 20 seconds left one quick question. if you can the petrodollar this is the relationship between american fatty arabia we don't have time to get too deep into i

starts to fall thing and what have gone on to get we've been tracking this for a number of years deutsche bank they have a lot of exposure to these bankrupt energy companies a sarnie a very troubled bank and by some measures you can say it's an insolvent institution is deutsche bank going the way of enron in the near term mitch i thought you might have a lot of problems at one point you're off balance sheet derivatives 70 trillion so if you're really going to bail them out i'm glad they. smart enough to write and read the e.u. all the 27 other members of the e.u. club would get to pick up are that bail out which is a big problem but it could be germany don't try to i last as. the last couple of years big problem is you see the repo market added 200000000000 a day it's still function we broke it rico market doesn't work any more and they won't tell you why. or who's borrowing the repo market it's a big secret what we've got to do is and the federal. it's not a federal organization the feds got nothing to do with federal government and it's not a bank we've got to and it's because they're j

a sarnie a very troubled bank and by some measures you can say it's an insolvent institution is deutsche bank going the way of enron in the near term mitch i think 3 to 5 have a lot of problems at 1.3 they're off balance sheet driven 70 trillion so if you're many going to bail them out i'm glad they. smart enough to write and leave the e.u. but all the 27 other members of the e.u. will get to pick up our bailout which is a big problem but it could be germany don't try to i lost. the last couple of years the big problem is you see the repo market it added 2 'd 100000000000 a day it's still function we broke it rico market doesn't work any more and they won't tell you why. or who is borrowing a repo market it's a big secret what we've got to do is and the federal. it's not a federal organization the feds got nothing to do with federal government and it's not a bank we've got to and it's because they're just and it's fun right we've got about 20 seconds left one quick question. if you can the petrodollar this is the relationship between america and saudi arabia we don't have time to get too

deutsche bank is trading higher. we are seeing gains for some of the uk banks barclays is up as well ecb has advised banks to withdraw their dividends and buybacks and they have a responsibility to support the economy throughout this crisis we are getting announcements from the number of lenders travel and leisure is a strong sector air france is up we have seen massive moves in these travel names airlines at the top performing very well. the accommodation part holding up not quite as well but green across the sector here autos in focus overnight, we had better than expected data on the manufacturing front. official data for march that came in after that plummet we saw the month previous investors looking at the month with a bit of caution. the reopening is providing support. autos being one of them. the likes of the fca, daimler and bmw all trading up >>> shell says it will write down up to $800 million due to a sharp drop of oil prices the energy giant doesn't expect the virus outbreak to impact demand over q1 it a

i did end deutsch, new goals and extra time.nalty, spirits left three affairs, jets and having his final one saved by ten solenoids go through to the quarterfinals in the first time in a long time, over ten years. lester had again anybody birmingham centre. the only girl at the game. that was a header inside a final ten minutes. the performance was very good. it becomes a war in the last five nets. 78 bodies in the box of classes and throw in. we stood up really well. i managed to gain out, like a said we got through to the quarterfinal and thatis got through to the quarterfinal and that is our game. here is the quarterfinal draw. the be played injust over two and half weeks' time. celtic has increased their fate at the top of the scottish premiership to 13 points despite being held to draw house and play. just after half—time then he thought that was going to be then he thought that was going to be the winner. tom brothers shared 22— to the first time in 12 games that's celtic had failed to win. it will be disappointed with the

deutsche welle reports that the trump administration offered vast amounts of money to a german companywould be exclusively for the us. the bbc news website reports on the impact the outbreak is having on the aviation industry with uk airlines seeking financial help from the government. and if we have time we'll look at another story in the spanish press — the king of spain renouncing an inheritance from his father, reportedly worth millions of euros. with me isjeremy thomson cook, who's the chief economist at equals group. let's at equals group. get stuck in. el pais talks let's get stuck in. el pais talks about the measures being taken across spain, pedro sanchez during a videoconference with all the regional leaders. spain has to come together right now, but this is a country that has seen huge division with catalonia, independence et cetera. the backcountry as well, years and yea rs of backcountry as well, years and years of the limitations —— ask country, years and years of limitations with the union in spain from

deutsche bank, 100 basis points by the end of the year.oldman sachs, 100 points by the middle of the year. the oil market has a b ounce. for the 10 year government bond yield -- the probability of the fed going to the zero yield, i bring you back to 2008. the options market says it is unlikely you will get there. somebody is right. somebody is wrong. good morning. asia-pacificci index. turning negative after the report says the draft doese g7 meeting, the call not specifically call for a new government spending or coordinated interest rate cuts by central banks. futures taking a hit. european future still in the green. the aussie showing a little strength in today's session. speaking of the rba come it has cut rates by 0.25%. the move comes after christine lagarde said the ecb stands ready to take appropriate steps. the south korean president says the nation is at war with the virus. the message echoes the oecd which slashed its forecast to the weakest since 2009 and called for coordinated action by global communities. >> what would make a

deutsch bank lowered to negative 0.6%. a contraction in the american economy. 10-year treasury has collapse today an all-time low dropping below 0.5% as investors around the world pile into safe haven assets. the federal reserve has cut interest rates for borrowers. congress passed $8.3 billion in emergency funding, that includes money for local businesses, communities, hospitals, testing and diagnosis. what about the workers? a brookings study shows 53 million americans earn about $18,000 a year. they are more likely to live paycheck to paycheck. they are more likely to not afford to miss work. they do not have guaranteed sick leave if they're told to stay home. many white collar companies are asking employees to work from home. they will likely be paid. engineers and business managers. ride share companies and food delivery companies, they can bring their laptops home but that doesn't work for rank and file independent contractors. uber and lyft announced they will compensate drivers for up to 14 days if they are diagnosed with coronavirus or put under quaran

silva deutsch-bash. joseph rosenthal. regina rosenthal. sharon rosenthal-lichter. yohan israels.ddie gomperts. mena jablonski. felix levkowitz. eva munzer. leah munzer. john nomik. ezer blakeman. ernst raskin. lesel raskin. malka winetrobe. hinda freed. gustov pick. andre cornhouser. avrun ponzak. david ponzak. monak pearlmooter. chesha wolfman. >> faye epstein. hersh epstein. malta epstein. miriam epstein. sira merebalm. sammy merebalm. malga spitzer. mo wax. hanna wax. leah wax. rachel fried. joseph freid. ri rika besler. tony brunsville. sophie stein. richard stein. camilla stein-berganova. wagner stein. leo roots. anna knoll. heinrich knoll. holda dreimer. perry. leah fogul. jacob wise. golda wise. hanna wise. esther wise. miriam wise. mo-sha wise. we would like to invite al munser, holocaust survivor and volunteer to lead the recitation of the kadish. >> we offer a kadish as a prayer of remembrance. but the words of the kadish reaffirm our faith in a higher power. a power that endows us with the ability to learn from the past. and to choose good over evil. please, rise, if y

and ireland's ceo of deutsche bank joins us for an exclusive interview.ou can see that at 9:30 london time. this is bloomberg. ♪ manus: this is "bloomberg daybreak: europe. i'm manus cranny in dubai. to aneral response explosion of the coronavirus and implosion of oil markets. ix the equity side, the top down 5.6%. market, losingar 20% from the december hike to where we are now. s&p futures opened down. circuit breakers kicked in. this is one of the quickest corrections in history. 1987, the dow dropped 22% in one day. a data point for you. if we close down by 20% on april 1, this will be the quickest obliteration of a bull market you've ever seen. are we pricing global recession? from pimco, we are warned that is a risk. you get topan says zero and negative yield on 30 year paper. tends traded below 5%. what is the u.s. curve pricing at the moment? a recession and impotence from the central bank and other 50 basis points. another thing coming through , about value at risk and the destruction. what you are able to tolerate in 2008 versus what you can tole

deutsch bank thinks the collapse could be the biggest since world war ii. the economic fallout from the coronavirus could claim up to 3 million jobs by the end of the summer. ford, general motors and fiat chrysler are all halting workers. factory workers can't work from home. workers will receive unemployment insurance and pay from their employers that will add up to nearly their whole play. other industries are asking for billions of dollars. the nation's airports asking for 10 billion. the nation's restaurants need a massive $325 billion bailout. there are 4.4 billion bars and restaurants in five states that have closed since saturday. that's a slice of what's going to hit the national labor market. >>> two members of congress have tested positive for coronavirus. the capital physician is now in contact with other house members who may have been exposed. at least 20 law members say they will isolate. >>> he's calling on everyone to, quote, keep things in perspective while the nation copes with the crisis. 97 to 99% will develop this and develop immunities

jp morgan and deutsche's joining hsbc and forecasting reductions. this would be the first big policy decision for the ecb president christine lagarde. 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 viviana hurtado. this is bloomberg. guy: thank you very much, indeed. coming up, keep an eye on what is happening in the bond market. treasuries, we are seeing a little bit of selling today. took a look at what is happening in the bdp market. btp's are catching a bid today. that's thepicture, curve. as you can see, the only green in italy. this is bloomberg. ♪ ♪ vonnie: live from new york, i'm vonnie quinn. guy: from london, i'm guy johnson. this is "bloomberg markets." let's find out what is going on with abigail doolittle. abigail: we have a bit of a rebound rally on our hands around the world. the s&p 500 and the nasdaq buzz up about 3.5% or more after climbing to 4% on the open, but giving back some of the gains. some of the bulls are still trying to

deutsche welle, trump offers large sums for exclusive access to coronavirus vaccine.nd if the us way to get the rights to this vaccine it was going to be for us patients only. us patients only, this is an incredible story. this company, based in germany, curevac, it gets a lot of its funding away from the german health authorities, research dummett health in germany as well, but it had an american ceo, and a p pa re ntly it had an american ceo, and apparently the trump administration kind of reached out to them and said "if you are developing something, it proves to be able to be able to vaccinate against the covid—19 virus, the us would like exclusive rights to it. the us ceo is no longer us ceo, it has been taken over by a german, i don't know what you want to red into that. the german authorities have confirmed the story. they have confirmed that but have also confirmed that thatis but have also confirmed that that is not going to happen. it would be a vaccination for everybody, and not just would be a vaccination for everybody, and notjust well paying americans, l

yes, and there is deutsche bank suggesting that this will cause a 6% drop in uk economy which would behe biggest recession we have had in 100 years. which is, i mean, obviously absolutely terrifying, just going back to the point about the government is cupping and how people are reacting to the way the government is cupping, it's worth pointing out the in a way this is not quite a normal conservative government. this government was elected in very specific circumstances, it hurt swathes of the north that it never had before in the government that was determined to prove it was the government of the people. and in a way has been given in the most insane drastic circumstances be given an opportunity to prove that is the government of the people. when it's going to cost the government, and whether it's going to bea government, and whether it's going to be a government that can hold true ina to be a government that can hold true in a sort of conservative principles, the small state fiscal conservatives seem principles, the small state fiscal conservatives seem to have gone totally at the w

deutsche bank lowered the second quarter gdp to a negative 0.6%. that's a contraction. the 10-year treasury yield has collapsed to an all-time low dropping to 0.5% as investors poured into safe haven assets. this is a flashing red warning sign that there are risks around the world. congress passed $8.3 billion in emergency funding that includes money for local businesses, communities, hospitals, testing, diagnosis. that is important emergency stimulus. what about the workers. a brookings study shows 53 million americans earn about $18,000 a year. they are more likely to live paycheck to paycheck. they cannot afford to miss work and many white collar companies are asking employees to work from home. they are more likely to have paid sick lever even if those workers cannot work. engineers and business managers can bring their laptops home but that doesn't work for rank and file employees or employees with consumer facing kinds of jobs. uber and lyft said they will compensate their drivers for up to 14 days if they are diagnosed with coronavirus or put into quarantine. as

joining me is deutsche bank chief economist.to trillion dollars stimulus package. i want to quote catherine man who said go big because it is going to be worse then you think. go now, later might be too late. learn from the lessons of the financial crisis and the european sovereign debt crisis. too little too late yields a long period of sluggish growth. plan --p on a stimulus is a big enough? and somef it is loans of it is relatively quick. there are are different components to where the money is going, but the short answer is that america is essentially closed. companies do not have any revenue. workers are not getting salaries. from that perspective, it is correct to say we need support to household and companies to make sure we can build a bridge over the virus. some say that loans are not going to do it. tosome point, companies have repay loans and interest rates could go up. is that going to be a longer-term hindrance than any recovery effort? >> i think it will be a support. the signal here is that there is a willingness

deutsch bank thinks the collapse could be the biggest since world war ii. the economic fallout could claim 3 million jobs by the summer. ford, gm, fiat chrysler all halting production. the factory workers can't work from home. uaw said workers will receive unemployment benefits. other industries are asking for billions of dollars in federal help. the nation's restaurants need $325 billion bailout. the national restaurant association needs help to support restaurants and a 15.6 million workers who depend on the industry for jobs. you'll start to see the numbers next week in weekly jobless data. you'll see the cascading effect. >> so many people telling workers to apply for unemployment benefits. that's being hit hard. >>> for the first time since the outbreak, mainland china reports zero new cases. cnn has reports from shanghai, london, berlin and madrid. he's. gesundheit. [sneezes] i see something else... a star... with three points. you're in a... mercedes. yeah, we wish. wish granted. with four models starting under 37 thousand, there could be a mercedes-

let's turn to deutsche bank research. tom keene sent this to me. it comes from someone who writes a following we have changed it looking for an immediate 100 basis point fed cut. one wonders if the fed has to start talking about qe as well. tom: moments ago publishing on this. the keyword is immediate. i really want to convey the urgency to get there fast, like tonight. jonathan: feels like a lifetime away. joining us on the phone, pre-out. walk me through all of this. you are one of the first bloomberg customers to find a message and soon as the terminal. your thoughts, please? >> sure. thanks for having me on. i think we have been talking -- and i have been on your show before, we talk how this went from a supply shock to a demand shock. to the last couple of days, it felt like the market was breaking. the u.s. rates market, the most there, u.s.t out treasuries, it seemed market functioning had become an issue. that is why i think the market was screaming for policy help across the board. fiscal, we have not had anything. the president didn't giv

joining me now is florida congressman ted deutsche. congressman, thanks for being with us.the politics in a second. i want to get a sense, because you are at home in florida in boca raton right now. what you're seeing, what is happening around you at these hospitals? >> well, john, thanks for asking the question and that's the biggest concern that we all have. i'm fielding phone calls every day from hospitals i'm talking to health care workers and doctors. we have such an enormous debt of gratitude to the doctors, the nurses, the health care workers literally on the frontlines of this. right now, some are coming home, others getting ready to go in the emergency rooms and the hospitals, we need to give them a chance. we need to make sure that they're in the best position to use their incredible skills of helping people to actually provide that assistance and what we're so worried about is that if we don't get control of this, if we don't push down on that curve as we've been talking about, then they're going to be overwhelmed here in florida. they're not going to be able to

deutsche bank says it will bounce back later this year. economists this morning are telling me they have faith that the economy will bounce back in part because of what washington is finally getting around to doing, which is stimulus. >> we have a $20 trillion economy, biggest economy of the world, and the market knows that washington is likely going to pass this trillion dollar stimulus package, maybe people will get the checks of a thousand dollars each and the market is down more than 1100 points. they think it is not enough in. >> the math is important here. $20 trillion economy, if you completely sideline it for let's say three months, is $1 trillion enough? that's the conversation that is happening it this morning. i'm sure that's what people are telling treasury secretary steven mnuchin. he has to get both houses -- he's got to get both parties behind him to spend money and -- >> sorry to interrupt, i keep coming back to the question of yes, you want to give people enough to feed their families and get gas in their car, what is enou

at least i don't know if you're in the us and not staying at a loss as a machete in the system or deutsch each that records. of what came up on your stomach and simple much assured in a lot of them for much of my huge health life should not be. pretty but i'm sure if the 1st half of. your post astonished. that let them get the sum of it's only. going to be a wish list for this month it's not worth it yes it would have so much in vietnam if. you had the stomach doesn't want some of it just not all of us the policy just mutual fund that was given doesn't doesn't seem fair. since. d.h. coming up i seen on that story called the child. the kids. know it so it's good just because they force my pickup with mr mishmash the bushes shielding in front it's just too much misstep honestly just need to be if they can apply what you suggest. 6. let him pick. it up call or put. up. a mohawk news about. a pic of her. at the division with me that this crap which she just missed about comes from. well at the you might even say that's i'm not but the most again then we discovered and then from that set up it

but it was the kiss cam that brought the crowd to its feet. 92-year-old roselee deutsch in her usual perch above the ice. missing on this special night her husband of 70 years, earl earl and roselee were regular romantics during kiss cam segments on the stadium jumbo tron >> who was the best kisser >> my husband. >> reporter: season ticket holders for 60 years. earl served his country in the navy in world war ii, a father, a grandfather and a great grandfather. when earl recently passed away at the age of 93 more than 21,000 fans said thank you. he was your star >> all the time. >> reporter: two college sweethearts whose affection melted the ice and made everyone's heartbeat a little faster. kevin tibbles, nbc news, chicago. >> everyone's a fan of a good love story. isn't that sweet that's "nightly news" for this tuesday i'm lester holt. thank you for watching, everyone, and good night >>> last week we lost three catering jobs. >> taking its toll, the coronavirus hits local businesses hard as santa clara makes a tactical shift to fight its spread. good evening and thanks for joining

at least i don't know if you're on the bus and not staying at a loss as a machete in the system or deutsch each that records. of what came up on your stomach not simple much a short number of them feel like i used a 5 figure nothing. but a word from. your post almost get all it's you. but let them get the sum of it's only. going all the abortionists with a smile it's the one. yes it will help us which immediately. you have the stomach doesn't want it's. just not always the policy just mutual fund that has to be it doesn't doesn't seem that. some people do much coming up but i see you on that story in the story cautiously way. the kids see there's a puddle if see any of the know what it's there to get used to push them out for a smoke pick up with mr mishmash the bushes shielding them from just the emotional separateness and it's going to be a bit of a break in that by what you suggest. 6 . first name to. call or put on this is just got over now some. of. them was impressed on the hardness about at the what the form of a pickle had. at the division with the one that setback lupus which he d

jonathan: looking at the situation for the fed, some big calls from deutsche bank.e are looking for an immediate 100 basis point fed cut. one has to wonder if the fed will start talking about qe as well. going into next week, what are you looking for? 100 basis points 50, 25? what is coming from these guys? michael: i think it is all coming. we probably argue you could expect 100. i almost think it is irrelevant. it is the signaling from the fed that we are all in on this issue. the markets need to see that. i think you have seen a lot of evidence of that now outside of the fed. i think that is really what the markets will be looking for, that there is a real, genuine concern, awareness for how significant, global this issue is. sort of an all hands on deck, we are all in to do everything we can from a policy standpoint. jonathan: let's work out what this means for treasuries. on the rate side, i have heard maybe we have lost some of those risk mitigating characteristics that you could get from the treasury holding in your portfolio. points,e drop 100 basis i have s