the european central bank has also announced extra stimulus measures for the eurozone the bank's head christine legarde says it will issue another 600000000000 euros in emergency bonds to lessen the economic damage from the penn damage that's on top of a 750000000000 euro package announced in march. here's our financial correspondent chelsea delaney with more. the european central bank is pumping more money and to the european economy as it has for $1.00 of its worst contractions on record today the e.c.b. announced that it's adding about $600000000000.00 euros to its bond buying program as they are now also forecasting a contraction for the e.u. economy of 8.7 percent for this year they've used this bond buying program to really target cheap financing to companies and governments within the e.u. throughout their coronavirus pandemic and this is what is the president christine legarde had to say about that earlier the governing council is determined to ensure the necessary degree of monetary accommodation and to smooth transmission of monetary policy across sectors and countries accor

central banks are also been trying to support markets. well terry generally speaking all major central banks have acted quickly and with bold monetary policy measures if you compare the fed and the european central bank the fed has said that there are no limits on its asset purchases on the purchases of bonds on the bond markets the european central bank still eases talking about certain limits on the other hand the european central bank is operating with negative interest rates and the e.c.b. is currently considering a bad bank you know a bad bank for bank loans that might turn sour so i would say on both sides of the atlantic monetary policy makers are very creative they're acting differently because of the different structures of our financial systems and sectors corporate thank you very much conrad bosun in frankfurt. lockdowns around the world have left many families separated some couples relying on surrogate mothers have been waiting for months to be united with their newborns stranded in ukraine one month and 3 days late but at least they are together. and you're old and so troubled 10000 kilometers by car through continent in lockdown to finally meet their daughter. she still ha

yvonne: let's wrap up this week on the central-bank action. europeank is top of mind, putting its money where its mouth is. responding to what it cause the unprecedented contraction in the euro area economy. let's get tore global economics and policies editor. what is driving this aggressive move from the ecb? presidentne lagarde, of the european central bank, the economy despite measures to get it going has not responded enough. bottom line, christine lagarde is relatively new in the job still. she has said several times, whatever is needed. here is what happened today. the ecb boosted its pandemic emergency purchase program by 600 billion euros. it was expected to do something. 500 billion euros was the forecast. this was on the strong side. getting the potential bond purchase package to 1.3 5 trillion euros. that is a lot of bonds to buy. when she explained the move, she stressed it was an animus. -- it was unanimous. that may be some wanted to wait. it was unanimous. basically it is because the economy has had a tepid response to stimulus so far. l

not really european central banks, but central banks clustered around europe.vp / global market strategist emea, jp morgan asset management, joins us. on the bank of england, which has to be the biggest focused, do you expect them to try to surprise the market? or are they more likely to fulfill expectations? there iso not think much need to surprise the market today. they have been happy to see expectations building around the 100 billion increase we expect today. the other option on the table for them is to go with the bigger increase in purchases, but they will know a lot more by the time they get to the august meeting about treasuries borrowing requirement to the second half of the year. a possible through emergency budget in july, that will inform the banks' thinking about what we can be looking at in the second half. anotherl calibrate increase if required in august or september. it would make sense to stick to that 100 billion figure today, accompanied with the note that more will be coming later if needed. anna: if that is what we get, 100 billion today

let's get a recap now of our top story at this hour the european central bank has boosted its stimulus measure for the eurozone by 600000000000 euros taking very emergency bond buying program to 1.3 trillion e.c.b. chief christine legarde said the measures were needed to lessen the economic shock of the koran the bars christmas. thank you for watching to doubling its. goodbyes sausages are low for education. big changes are underway in the food industry. our major food companies are changing to meet new demand. for a less meat consumption really help the environment. as we explore germany. germany. next on d w. into the conflict zone with tim sebastian. even before the coronavirus pandemic lebanon's economy was plummeting through the floor joining me from beirut this week is the country's foreign minister not see 50 . to go shades educate me for systems what guarantees can he get that his government do any better than the previous ones conflicts of. the $60.00 you. like. oh. my gorgeous was such a russian soul. so many different walks of life. sung by me and oddly trite but all of them

to come back now turning over to european equities they're also breaking out now that the european central bank has also put a stop gap in the market what sustaining the rally there. well i think part of part of the rally there is keying off of the rally here as well. even though their stocks about doing very well but for being for having a reputation of austerity angela merkel really has come out with the checkbook open and i think that there is a lot of enthusiasm about the ability of europe to reopen more successfully by the way than the united states because they did take the curve all the way back down and have been able to to see a much more successful reopening as opposed to united states where we've seen the continuation of high levels of the of the coronavirus outside of new york and new jersey and a lot of them countries away still with a lot of restrictions restricting travel as well so we'll see how that plays plays out i'm sure that the stimulus the $600000000000.00 stimulus euro stimulus that is is also helping let me turn to the equities market here it's extremely bullish right n

following the european central bank's 600000000000 euro expansion of its stimulus and living across the atlantic let's move over to brazil where once again we're seeing a green arrow brazil's rao surge up to 3 percent on track for its biggest weekly gain since 2008 latin american currencies rallied on friday this was due to a surge in oil prices and despite countries still reporting thousands of deaths and cases of the krona virus and mexico the b.m.v. saw some pretty big gains on friday again on those u.s. job numbers and a spike in oil prices here in the united states then let's move up to here where the 3 major indices are the dow the s. and p. and the nasdaq all in the green looking at some all time highs nasdaq hit an all time intraday high at one point on friday the dow alone surged by more than 900 points boeing and raytheon technologies contributed highly to those positive gains as well as those unemployment numbers finally finishing up in toronto where the also for the week all markets in the green this is following a similar trend on u.s. job numbers and oil prices seeing thei

fears of deflation warranted european central bank's decision to ramp up stimulus.hat's according to the policymaker. yesterday, the ecb upped its bond buying program, buying bigger than expected 600 billion euros, cutting expectations for growth and inflation in the process. >> we judged that it was necessary to increase the size, and i can assure you that it was our unanimous view in the governing council the action had to be taken in the face of that inflation outlook. action had to be taken. leigh-ann: global news, 24 hours a day on air and on quicktake by bloomberg, powered by more than 2,700 journalists and analysts in more than 120 countries. i'm leigh-ann gerrans. this is bloomberg. francine? francine: thanks so much. let's kick it off with a u.s. jobs data. unemployment is expected to rise as the pandemic takes its toll. joining us is the cohead of official institutions group. thank you for joining us. when you look at what the fed has done so far, the ecb announced yesterday, is there a limit to was a jim banks can do? -- central -- at what central banks c

jean-claude trichet, the former president of the european central bank.up today, we will speak with a columbia graduate school of economics professor. this is bloomberg. ♪ ritika: this is bloomberg surveillance. let's get to the bloomberg business flash. the trump administration is --ering amazon and ebay that is the bloomberg business flash. markets aree focused on two things tom and i have been talking about, all morning. first is the second wave of coronavirus infection in the u.s. and also the focus on what chairmanfrom the fed, jay powell suggested the pandemic could inflict lasting damage on the economy and of course we want to those infection rates going up in certain states in the u.s.. looking at fixed income treasuries continuing higher. tom: it is going to be interesting to state -- to say the least. 0.17%. that really bears watching. there is a foot on the two-year where it does not move. i am not saying which way it is going to move but i want to see the nuances into the weekend of the two-year yield. seeill be interesting to what the nasdaq

european banking sector. tomorrow the european central bank will reveal details of its latest tltro operation for the banking . loanslly incredibly cheap for the european banking sector and it will have an amazing effect in terms of the story surrounding the bond market and the credit market surrounding banks. when you get sheet money like this from the european central bank, why would you like to find yourself in a different way? marcus ashworth of bloomberg opinion joins us to give us his take. walk me through what we are expecting to see tomorrow in terms of how many tltro's will be given out and what to matt will look like? marcus: there is several scenarios. isut 750 billion euros probably rolling off. we have seen a number of existing financing be canceled because these terms are extraordinary. every single bank will qualify at -100 basis points, -1%. not free money. they are paying you to borrow from the ecb. every bank under the sun which is eligible, which is all of the banks in germany and france you would think might avoid it, they will be coming in. everyone will come funding. we are even seeing p

heading into the european central bank meeting. we had angela merkel delivering. she did it.he pound, 1.25. theher rare statement come -- coming from the boe. a no deal brexit back on the table. barrel today.0 a do we have a meeting today? all the shenanigans of a pre-opec-plus meeting is currently in the works. let's begin. manus: i turned up a dollar short and a day early on that. annmarie: you were correct. mcnally was considering it in his mind. manus: i was right. i'm relieved. i'm not a dollar short and a day early. take it away. annmarie: you were on the money. let's begin from d.c.. jim mattis has ripped into president trump over his aggressive rhetoric. he wrote, he's the first president in my lifetime who does not try to unite the american people, does not even pretend to pry -- try. as protests continue, minneapolis has updated charges against eric shaaban to second-degree murder. three other former officers were charged with aiding and abetting. president trump says he doesn't think he will have to deploy u.s. troops but has the power to do so. >> i don't think we

institutions task was supervising financial firms german regulator buff and as well as the european central bank according to reuters regulators fail to classify why our card is a financial holding and hold it to higher standards as for why a card score business experts stand by it i'm sure this is. in the end we should actually count of companies like why our card is a business with a future of this kind of payment technology. we know that our banks are past their peak and why a card looked like it had a golden future. believe however that promise only holds if tighter regulation ensures customers can trust that their payments are processed correctly . and as to the role of regulators the chair of the fin tech working group at the european parliament stresses yakka luna's told us earlier that others also failed in the y a cot scandal is what he said the orders external audit is were failing to apparently they were basing their findings on the internal audit so they were so we're told it's probably about where failing what we're talking about supervision and so was really has to be improved of c

later today, the european central bank will decide if it's massive monitoring a -- massive stimulus isconomists suspect an increase of 500 billion euros to pandemic emergency purchase program. isly's pandemic loan program under fire, so far delivering 0.1% of the 400 billion euros it promised to businesses. the delays are partly due to some banks dragging things out because of strict regulations. government squabbling and bureaucracy have not helped the situation. global news 24 hours a day, on air and at quicktake by bloomberg, powered by more than 2700 journalists and analysts in i amthan 120 countries, leigh-ann gerrans. this is bloomberg. pandemic,a global deep recession, millions unemployed, the headlines have been unrelenting. yet stocks, especially u.s. stocks, keep rising. a bloomberg opinion piece, john authers says the rally is about 10 weeks old. he says stocks are soaring despite valuation metrics screaming they are too expensive. joining us now is christian nolting from deutsche bank. great to have you on the program. do you think equities are too expensive? for invitingan

with petrol and diesel engines here even the mighty auto industry could not prevail well the european central bank has announced action stimulus measures for the eurozone as well the bank's head christine lagarde says that it will issue another 600000000000 euros in emergency funds to lessen the economic damage from the coronavirus crisis that's on top of a 750000000000 euro package announced in march the e.c.b. says the euro zone's combined economy is shrinking at an unprecedented rate and the bond buying will continue until at least 2020. the latest economy indicators and survey results confirm a sharp contraction of the euro area economy and rapidly deteriorating labor market conditions. the choral novel respond demick and the necessary containment measures have severely affected both the manufacturing and the service sectors taking a toll on the productive capacity of the your royal economy and on the mystic develop and that was christine legarde speaking earlier i'm sorry kelly in berlin thank you so much for joining us here on talk of the units. i'm neal and i'm david welcome to the 2nd seas

the european central bank has announced extra stimulus measures for the eurozone the bank's head christine legarde says it will issue another 600000000000 euros in emergency bonds to lessen the economic damage from the coronavirus crisis that is on top of a $750000000000.00 euro package announced in march the e.c.b. says the euro zone's combined economy is shrinking at an unprecedented rate and the bond buying will continue until at least june 2021. let's take a look now at some other coronavirus developments global confirmed cases have risen to over 6500000 more than 384000 people have died malaysia has reported 277 new virus cases its biggest daily increase it comes after an outbreak at a migrant detention center and critics accuse the government of failing to protect foreign workers france has canceled this year's day military parade instead it will hold a socially distance ceremony to pay tribute to health workers fighting the pandemic and the philippine government says it's allowing churches to resume mass and other religious gatherings in areas with a low risk of infection or talent

the economists expect european central bank to increase its already massive monetary stimulus. policymakers will be out with the decision later today. christine lagarde has warned -- the banks up but prediction is unlikely japan out. a coalition has agreed on a $100 billion seamless package to get the economy going. that has exceeded the top end of expectations by 30%. the deal includes a cut in the value-added tax, plus there is money to build outside networks and railways and double incentives for electric cars. global news 24 hours a day, on air and at quicktake by bloomberg, powered by more than 2700 journalists and analysts in i amthan 120 countries, leigh-ann gerrans. this is bloomberg. francine? come? -- tom? tom: thank you so much. equities, bonds, currencies, commodities. not much conviction on where we will be at 9:30. vix,utures -91, and the 26.15, showing a remarkable level. to 26.15.hrough i would also note gold showing some moments, under $1700 per ounce. francine: i spent a bit of time with christian nolting of deutsche's talking about gold. the stock rally power

do you agree with the european central bank's actions were they necessary, too much, not enough >> whatnow, brian, they've been very, very -- they've done a lot. you know, we have to command central banks here, particularly the fed and the ecb for, you know, adjusting money trade policy from reigniting expanding existing programs for injecting liquidity, which, by the way, has stabilized capital marks it's been done in good coordination with the administration, the treasuries the $2.2 trillion c.a.r.e.s. program, led by france and germany for the 750 billion euros of, you know, rescue relief fund, which comes, by the way, in addition to what every individual state provides in europe and is it enough i think it really depends on the pandemic i think the view is pretty much a lot of the ammunition, if there is a need for more, i think it's just going to be going deeper >> jean-yves fillion dealing with challenges on many levels we appreciate you getting up early and joining us on "worldwide exchange" for an exclusive. take care. >> thank you for having me it's a pleasure. >>> coming up, w

however, we've hopped in just the last few minutes on expanded stimulus from the european central bank live update is straight ahead. >>> high stakes reopening in las vegas. casinos set to open their doors today for the first time since march. we'll bring you a live report ahead of the first bets being placed the final hour of "squawk box" begins right now. >>> good morning and welcome back to "squawk box" here on cnbc i'm joe kernen along with becky quick and andrew ross sorkin the ecb has extended pandemic purchases, the program, to at least june of 2021 that may be a little bit more than we thought. that's what we're going to talk with steve liesman because the market was down over 100 points five minutes ago it's actually positive it has turned down again, it is down 30. steve liesman is back with us with a look at what's moving on that news. steve? >> reporter: yeah, joe, the ecb rocking the world this morning and before i tell you what happened, i want to tell you what i think is the significance of this. if you remember back to the financial crisis back in '08-'09, the ecb lagge

the european central bank decision is due out in about 15 minutes.he ecb meeting, we will bring you headlines. we're waiting to see if there is news of additional stimulus. in germany, a $1.5 trillion stimulus package has been approved. in asia overnight markets were mostly higher, take a look. more freedoms were stripped from the people of hong kong. lawmakers did pass that controversial bill that makes disrespecting china's national anthem a crime in hong kong. this as protesters marked their 31st anniversary of tiananmen square overnight. as you see, the shanghai composite was lower, hedge sensinhang sengwas down a fract. tropical storm making landfall. cheryl: the storm is now heading towards the gulf coast of the u.s. this weekend. forecasters predict it may dump 30 inches of rain before making a turn to the north where it could hit the u.s. as a hurricane. also, increasing winds over the gulf of mexico going to drive high surf to the beaches of the gulf coast, particularly from louisiana to southwestern florida, generating dangerous ripcurrents

your business on the whole made am modest recovery from wewednesday's selloff after the european central bank said it would often ends at in utero is central banks. in david. uprising last hour said if. stocks get among. about changes to banking regulation at that coronavirus and job list data weighed on retail stocks. and that's it for business finance you can thank you very much and a great to see you enough to watch- with- bated breath to see what happens to that story about lufthansa. thank you but see if. you correct the business. polls opened in russia this this thing for a weeklong vote. on constitutional changes that would allow president vladimir putin to stay in power. until twenty thirty six. the vote had been delayed from april amid concerns over the corona virus pandemic but now russians have it shown for the essay about changes to the constitution local use the hotel was preheatedd set level to showow s shown this much we- page for more. mckinney it's the key. the last month. the future of russia until longtime presisidet vladimir putin already in power since nineteen ninety nin

the leave a tall entrepreneur made a huge purchase recently and that was all funded by the european central bank of a private company so the private banks are buying junk corporations and they're actually buying an e.t.f. with the ticker symbol j and k. which stands for junk. that means that we've kind of crossed over to it and to no you know there's no turning back now because the said balance sheet of approximately 7 trillion dollars and it's adding maybe a trillion dollars every 7 to 10 days the resale value of everything on the books there is 0 i mean you can obviously resell hurt stock because it just went bankrupt a few days ago so that's clearly worth 0 everything on the junk e.t.f. 0 black rock that sells the e.t.f. is charged with buying e.t.f. for the fed so the fed and the government is tall black rock by e.t.f. those things that you sell for us with the government with the printed money that we're printing ok that's obviously corruption at the highest level and it's horrible economics. that bonk they might convert to equity which apparently the fed's not supposed to own so you know t

the european central bank has announced extra stimulus measures for the eurozone the bank's head christine legarde says that it will issue another 600000000000 euros in emergency funds to lessen the economic damage from the coronavirus crisis that's on top of a $750000000000.00 euro package and now in march the e.c.b. says that the euro zone's combined economy is shrinking at an unprecedented rate and that the bond buying will continue until at least june 2021 the latest economy indicators and survey results confirm a sharp contraction of the euro area economy and rapidly deteriorating labor market conditions the coroner virus pandemic and the necessary containment measures have severely affected both the manufacturing and the service sectors taking a toll on the productive capacity of the your royal economy and on the mystic demand and that was the head of the e.c.b. speaking earlier a town in central germany has really imposed some coronavirus restrictions not long after they were lifted dozens of people celebrated the end of ramadan together setting off a wave of new infections. justice

the ecb, the european central bank, says that it could go as much as 12% reduction of european gdp.disastrous numbers — christine lagarde calling it the biggest economic crisis certainly since the second world war. and we see the debt levels in countries like italy projected to rise to something like i60%, possibly 170% of national income. how on earth does the eurozone and the wider eu get out of this economic mess? well, pretty much as all other economies will. this is a temporary thing. this is very, very serious. i agree with all the numbers you gave. they are a very good description of the hardship we will experience in the coming months, but we really need to make this a temporary crisis. it does not come as the regular and usual crises in economics do. interest rates are low. we were following a very long — probably the longest — path of economic growth in recent history. unemployment rate was very, very low at the beginning of this sanitary crisis. one of the champions is the uk, but you have other examples in europe and worldwide. so... i understand that, minister. but the

european central bank says they expect the single market economy to shrink by almost 9% before recovering in 2021. worst recession for decades hammered by the virus. traders slow down. weak economy. needed.kers will act as >> i welcome the european parliament called toward an ambitious european response. a strong framework. ecbcan rest assured the the continue to support recovery with all appropriate measures. rising in korea with the north saying they will close down contact with the south. alks are scheduled through liaison office but the calls have been going unanswered. the north released new pictures of kim jong-un over the weekend. arrestng demands for the of a man who is accused of that lednd corruption him to the top of the conglomerate. he is charged with using a legal means to ensure his succession. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. saysr: still ahead, trump he will look into revamping gentletactics to be more to defundmong calls the force. coming up, we are joined by sean callow, westpac

institutions tast was supervising financial firms german regulator buff and as well as the european central bank according to reuters regulators fail to classify why a card is a financial holding and hold it to higher standards as for why a card score business experts stand by it i'm sure this is. in the end we should actually count of companies like why are card it is a business with the future of this kind of payment technology. we know that our banks are past their peak and why a card looked like it had a golden future meeting it was it it's who can believe however that promise only holds if tighter regulation ensures customers can trust that their payments are processed correctly. the u.k. will speed up infrastructure spending in an effort to boost its flagging economy from mr bottoms johnson talked of $5000000000.00 pounds of investment most of it in already announced projects and now be fast tracked johnson emphasized he would not cut public spending as prior conservative governments had the british economy shrank 2.2 percent in the 1st quarter according to the mixed figures. a quick look

institutions task was supervising financial firms german regulator bof and as well as the european central bank according to reuters regulators fail to classify why a card is a financial holding and hold it to higher standards asked for why a card score business experts stand by it i'm sure this is. in the end we should actually count of companies like why are card it is a business with a future of this kind of payment technology. we know that our banks are past their peak and why a card looked like it had a golden future. however that promise only holds if tighter regulation ensures customers can trust that their payments are processed correctly . read it became the latest online platform to take action against hate speech on monday and closed down 2000 killed in a crackdown that the tech company says is aimed at community promote feet i called again and howard is here at the big table with me now to talk about this this seems like a big move why is it significant because many headlines that we've read of the past months and years have preferred to on the facebook and twitter the bahamut spitt

this follows yesterday announcements of additional stimulus from the european central bank, the ftse 100100 is up 58 and cac quarante in paris is 89 and dax in germany up 177. in asia across the board. optimism rising for economic rebound. in japan nikkei average hitting 3-month high with gain of 3 quarters of 1%. cheryl casone with those details. cheryl. cheryl: emotional moment and homecoming for american hero. had been detained in iran for nearly 2 years. >> i'm happy to be back. i've been semifree and i will go extend my thanks to president trump and making america great again. cheryl: so great to have michael home. thank you to iran, don't wait until after the u.s. election to make the big deal. i'm going to win, you'll make a better deal now. part of the deal to free white, the u.s. released iranian iranian-american doctor, white says he slept for a few hours on the transalantic flight after enjoying a steak dinner, he wants to go to disney world. one of the defendants in the shooting death of ahmaud arbery used racial slur, accusation during probable cause hearing, the judge h

meanwhile k. the european central bank h has set up expanded its support of yours on economies. as they head for the deepest recession s since te second world war. with just a few w weeks ago criritics were sayiying that t the ecb was beig too slow to respondd to ththe papandemic andnd now it's gone a bit further than most economists. had expected by adding six hundred billion eueuros to its bond buying program at the ecb bring that total to onone point three trillion euros. the support will continue for six months longer than expected through at least next june it could be longer if thehe ecb judges that the crisis has not yet passed we could see some more stimulus as e early as seseptember. may deposit rate was kept on hold at negative hahalf a percentage popoint t to encourag ending spending. not easy also report its forecast. growth walking downwards once again producing an eight point 7% control. your ball i read a lot 5%% yeaear the ininstallation cd. b but thankso the person target six to stay below 1% until. twenty two that car estimate. unlike in the s. or japan and eas

institutions tast was supervising financial firms driven regulator buff and as well as the european central bank according to reuters regulators fail to classify why a card is a financial holding and hold it to higher standards. for more on the fin tech industry and how to regulate this business i'm joined by so this is jacqueline as he's the chairman of the fin tech working group at the european parliament mr welcome starting with why. do you think of him to do the job. well it seems so based on the reports because the reports were coming for the number of years especially from the financial times but that's not the only the supervision i think of the audit as external audit is. failing to apparently on the they were basing their findings on the internal audit so there were several links probably that they have a way of failing but we're talking about supervision and supervision has to be improved of course not only germany because germany probably was the last country which would have the scandal but throw through european union so there are there are lessons to bill and there are improvements

coming up, its decision day for the european central bank. massive monetary stimulus. l give you a preview next. this is bloomberg. ♪ yvonne: the european central bank is excited to boost its massive bond buying program today as it tries to haul the eurozone out of its deepest recession. our global economics and policy editor kathleen hays is here with a preview of what to expect. there are some that say that the ecb could wait until later on this year to do a boost in the pandemic emergency bond purchases. why act now? kathleen: i think most people figure they are going to have to act. i think it is a question worth asking, is there any chance that they would decide to wait? they already have a massive stimulus program in place. , thetine lagarde president of the ecb, even though the data may be bottoming, she is out of the worst-case scenario of the ecb projection. economist recently said that damages caused to the economy by the lockdown may take years to repair. it's true that the ecb has said one third of its 750 billion euro pandemic emergency purchase program fun

central banks. thene calculation, 20% of euro bond market is held by the european central bank. is an extraordinary move by a central bank to buy corporate debt to support the capital markets. think it has- i been a more efficient economic response than what we saw blade on the backs of banks 10 years ago. francine: we talked about -- we had a look at the exposure of some of the banks to why your card. what was barclays' exposure? participation in the holding companies involving , clearly ality manageable number for us. -- we do business wire cardour card -- accounts. a lot of consumers rely on those accounts. there is a concerted effort between governments and banks to manage this in the most beneficial way. this is going to pose a some parts of the financial technology industry. banks are highly regulated and they are safe. walletse things like -- which will get new attention. what we are seeing is our deposit base grow because as people get where it, they go back to the same -- tom: this is really interesting. thank you for answering this on wire card. germany, but also ameri

for the european central bank has announced extra stimulus measures for the eurozone the bank's head christine legarde says that it will issue another 600000000000 euros in emergency bonds to lessen the economic damage from the coronavirus crisis that's on top of a $750000000000.00 euro package and now instead march the e.c.b. it says that the eurozone is combined economy is shrinking at an unprecedented rate and the bond buying will continue until at least june 2021. while a town in central germany has reimposed some coronavirus restrictions not long after they were lifted dozens of people celebrated the end of ramadan together setting off a wave of new infections. justice corona restrictions were being loosened in this german town now the threat of a 2nd lockdown looms and all because some residents in this apartment block breached rules by meeting on mass getting in citizens' off year e.-s. that some of the newly restored freedoms have now been rescinded as the ag i find that really annoying because they are in danger in everyone not just themselves and i find that damned inconsid

then there is the european central bank, which is buying basically the entire net issuing stocks and nds. while the public that is going up, the public debt outside the central banks is actually not going up. that realization in the market -- on top of that, it is the european actions that reduce the risk that we have an italian politics. europe is now seeing the ecb and fiscal policy doing something to help italy. anti-e.u.,-- this anti-german, backlash is hopefully fading a bit, and at some point in the future, some italian government may want to take the country out of the euro , being used -- being reduced by european actions. what will we see from the commission to try and get them on the side? why is everyone so optimistic that they will sign up for this? holger: first of all, the countries in favor of it are the vast majority of the 27 e.u. members and the vast majority of the gdp. we will probably have the frugal four being assured that the money, especially the grand part of the money, won't come with some strings attached, because the frugal four do have one point. if this i

cash hoarding so you can make interest rates very negative. , the studiesed coming out of the european central banke been finding negative interest rates work well. they have not caused the problems people said. through oneen paths the banking sector from healthy effect ony find the investment similar to the normal monetary policy. i think that is what we can expect in the united states and the u.k. tom: are we nationalizing the bond market? that is the question chairman paulison will get from the center today. all of these programs including the announcement yesterday they will -- let's say they buy -- is it bonds anything but a nationalization of debt? it depends on what happens next. if it turns out things get better quickly, this will look like a low cost move. funny, usually in crises before this, they would say, here is a company we think is solvent, but there is a liquidity problem so we are going to provide liquidity and make sure they can still get financing and not go bankrupt. on, there areoes a lot of companies that will need to change radically. they will be liquid because of the fed,

borders to tourists from countries deemed more secure from the virus by june 22nd this comes as european central bank announced more stimulus measures on the way this to help europe's struggling economy it will expand the emergency stimulus by 600000000000 euros that brings the total to 1.35 trillion euros and some latin american countries are partially opening this week this despite still recording thousands of deaths and factions the world health organization is warning countries not. to reopen their economy too quickly brazil is now close to surpassing italy and being the country with the 3rd highest number of deaths after the united states and the u.k. . at the moment it seems almost like america is on the verge of collapse from riots in virtually every major american city to continue coronavirus lockdown there are some major concerns about what's happening in our nation but in the midst of all that chaos the stock market is actually up well why is that joining us now to discuss boom bust co-host ben swan and just on the trading horowitz thank you for being with us today todd let's let's get righ

decade with a fall of 3.8 percent in the 1st quarter of 2020 well last week president of the european central bank christine legarde highlighted what she called the unprecedented crisis saying mastering the recovery will require extraordinary action at e.u. and national level and the united states is seeking or is seeing at record spikes in new cases and hospitalizations across the country dozens of states are seeing an increase in infections as they reopen and while the surge may be attributed to an increase in testing availability reports have surfaced that many states have returned to pre-code norms without wearing face masks or even following a social distancing guidelines. with a possible 2nd wave of coronavirus u.s. stocks are sliding will sentiment in the markets have been shifting since last week when markets were reaching near all time highs monday's futures slid at one point the dow was down $762.00 points at session lows but recovered some of its losses throughout the day well joining us now to discuss is co-founder and managing partner at f a. insite thomas lee thank you so much for jo