we are joined by paul jackson, from invesco asset management. good to have you with us.quities are running with their eyes wide shut, ignoring the earnings chasm opening beneath them. do you think policy support is not going to support earnings in the market is misunderstanding? paul: we are in the middle of what will probably be the deepest recession since the second world war. we know that profits, corporate earnings, they are cyclical, they suffer in times of recession. we can see that with the u.s. second quarter earnings which from what we have seen so far were down 20% year on year. things like in the economy -- lag in the economy so it takes a while for the effect to come through. central bankers have thrown money at the problem which is causing a liquidity to wash through all asset groups. other things we have seen, i spoke with the vice , asident of the bundesbank she is also the chair of the two big to fail reforms analysis -- too big to fail reforms analysis, looking at what they have done in jurisdictions the last 10 years. i thought about although this reces

my best to the team over at invesco. could this be the moment that finally unlocks some sustained dollar weakness and a hero that gets back through -- eight euro that gets -- and a euro that gets back through one dollar? tom: you've got to really listen to david bloom to get an fx update this morning. jonathan: the theme from hsbc for the last few weeks, the team of dollar resilience pushing back against the cyclical, structural, political arguments for a weaker dollar and talking up dollar resilience. lisa: i always question where you stand on european leaders i wouldith some sort of wonder what tom things about the dollar weakening. jonathan: everyone knows where i stand on politicians worldwide. jonathan: 100 ash lisa: --lisa: 100%. the question is how much does a strong euro torpedo goods coming from the region? up until now, it has been viewed as a sign of strength. jonathan: i would take the euro pushing higher over a weaker euro to try to fuel exports and everyone pessimistic about it. i think we would rather see

your organization and blackrock, bank of america, invesco, to try to drive some changes in the workplaceain what that's all about? >> absolutely. so aarp has for a couple years now sponsored the aarp best places to work and the employer pledge that companies are not going to discriminate against people because of their age. we have over a thousand companies who have signed up to make that pledge that they are looking at, you know, not looking at age as a defining factor in suring somebody or making a judgment -- in hiring somebody or making a judgment about their talents and what they bring to the workplace. so we're is so excited. we hope that we'll be gaining many more people, companies who are going to sign that pledge. but right now we're well over a thousand from all over the world who have signed on. jack: wow. that's a good number. i want to ask you about something which is you don't see the workplace or the career path as linear anymore. can you explain what that means? >> so think about this, that if, in fact, you have good health insurance and in good health and do physical exe

let's get to brian levitt, invesco advisors global strategist. it seems there is more optimism than pessimism on the earnings front. why should that be? brian: i think it is largely not investors view the second quarter as being priced in by the markets. 35% in 20 was down days, pricing in a bad second-quarter, and a big hit to earnings. from there, you assess whether things start to get better as the year progresses. investors are largely looking out beyond the second quarter as there has been resumption in , as mobilityvity has improved, conditions have improved. it is largely a look at things getting better, rather than taking the second quarter will be anything but pretty ugly. vonnie: it seems investors will be cheered by anything. if you say the second is already priced in but will not be pretty , why would they have priced in positively? the market priced in a bad outcome. when you have is obviously a massive policy response on the fiscal side and the monetary side. you have seen reopens go well in many parts of the world, as well as the n

we can bring in rob waldner of invesco. you have been clear, using it is time to move to a more cautious stance on risk assets. why? rob: thank you for having me this morning. what is driving markets is really policy. about treasuries a moment ago. real yields in the treasury market are very low. if you look at real yields that continue to decline, we have five-year real yields that big 100 basis points. 10-year gilts, -80 basis points. continues to that be active in the market, which is the reason we have gotten this big ounce off the bottom. if you look at june, it becomes very clear the data is what is driving things. we saw investment grade continue to rally. investment grade spreads tightened by about 24 basis points or so in june. high yield did not really as much. bank loans kind of went sideways. ig isason for that is very closely tied to fed policy, so our mantra has been i what the central banks are buying -- has been buy what the central banks are buying. the fundamentals out of these are not that positive. parib

joining me now is christina hooper at invesco.nk you for joining us >> great to be with you. >> after the june jobs report, we saw the s&p gain less than half a percent so if this next one comes in less positive, do you see more of a reaction from wall street >> i think the concern with the last jobs report was, yes, it was great. but it also suggested that congress might be less likely to provide more fiscal stimulus so the july jobs report if it's weak enough but not too weak could have something of a positive effect. unfortunately, though, given the way sentiment is going right now if we do get a weaker july report, i think it's more likely that it actually sends stocks down there is growing apprehension in the stock market about the rise in infections and what that means for slowing reopenings and of course economic activity. >> so covid-19, a continuing concern on every sector of the economy. the question is can stimulus fix it i've read your notes you seem to believe more stimulus is needed would a $1200 check for americans

. >> coming up massive fire destroyed auditorium at a private school in santa cruz county, invesco is underway to determine what started that fire. health officials across the country around the world say face coverings help control the spread of coronavirus. coming up why some u.s. officials say requiring masks is not a reasonable solution. >>> bay area residents could see hazy skies today, as an air quality advisory is issued because of the mineral fire details on that advisor, look at the firefighting efforts to continue. some sentences go shopping centers will be forced to close after the city was added to the states monitoring list. what businesses which businesses i should say would will be closing but health officials say can help the reopen later. >>> from ktvu fox 2 news this is mornings on 2. >>> good morning to you, taking a look outside there is a live look at that olden gate bridge this morning, traffic is as usual, light on this sunny morning, and this sunny morning, looks a lot like saturday morning, we could see just about this when we were looking at the golden gate b

san jose 85% invesco downtown at 70. the kos mail in 60s. looking at the five day, cooling off on monday. but it is not a drastic change in numbers. but still cooling things off as we head into early in the new week. and it looks like no major heat after today. >>> i like what i'm seeing. >>> protesters taking them more statues all across the country. coming up, how demonstrators took done one and tossed it into the water. and parking restrictions returning to oakland tomorrow. what you need to know if you are driving around the city and what will be enforced. coming up. >>> the ntsb is investigating after a private plane made an emergency landing in a san jose work. the land air took off from the read hill airport when the pilot reported from. he could not get back to the airport safely so he ended landed in hillview park. the pilot was the only one on board and he wasn't hurt and no one on the ground was injured either. >> the city of oakland will enforce parking meter starting tomorrow. city leaders say they're taking this step as more bu