jeffries, vice chair clark, i imagine ms. maloney will be here.s the speaker said, she has been an extraordinary advocate of not only making sure the census was adequately funded, but that it was adequately empowered to count every american. native american caucus as well. she represents the native american. we have a diverse caucus. we representso, all of america. and all of america needs to be counted. our founding fathers did not cite every citizen, every property owner, every white person. they excluded some people in terms of the laws, but they said that every person ought to be counted. why? because they knew it was critical for the successful operations of government, for the distribution of revenues from the federal government to the local governments, to assist every american. that everybody be counted. and we know where they live, what community they live in. but i want to echo the comments that were made by congresswoman chu. the law provides that this information be used for nothing other than counting americans. when i say americans,

jeffries. the speaker pro tempore: the gentleman is recognized. mr. jeffries: i thank my friend, the gentleman from rhode island, for yielding and for his leadership. i rise in support of h.r. 4508, a bill to expand the pipeline of women and girls in pakistan entering higher education. at home and abroad, women and girls face barriers to obtaining education, hindering their ability to fulfill their potential. barriers include the cost of education, inadequate infrastructure, violence, cultural norms and gender discrimination. as a result, today at least 500 million women and girls across the globe struggle with literacy. in pakistan, the hurdles that women and girls face in seeking education are especially pronounced. in late 2008, malala, whose name this bill is in honor of, began making the case for education for women and girls in pakistan. despate objections from the taliban, she continued to advocate at great personal risk. on october 9, 2012, she was on the way home when the taliban ambushed her bus and shot her in the head. remarkably, she surv

coming up, jeffries is giving up on the energy sector.ou why that. -- next. ♪ nejra: this is "bloomberg daybreak: europe." let's get to your morning call. jeffries is giving up on the energy sector, saying it has lost 40% year-to-date. peter is still with us. i am going to pivot from energy to emerging markets because it looks like yields are coming to emerging markets. does this, kate rate cuts -- complicate rate cuts? peter: i don't think so. pretty much all the market have negative yields, so as long as normative rates can go -- be cut, rates can go lower. i argue that in times of low growth and additional shocks, going to real yields makes sense. nejra: how much sense does it make to go into gold? peter: gold is interesting. risks,nvironment with gold is typically in demand. as interest rates are coming down, it is typically helpful for gold. nejra: peter, thank you so much. that's it for daybreak europe. the market open is next. ♪ anna: good morning and welcome to bloomberg markets: european open. we are live from the city of london.

jeffries: america is the wealthiest country in the history of the world. assembled the mightiest military, but you annot judge the greatness of america based on our wealth or our military might. we should only judge the america based on left stand up for the behind. the cares bill is legislation that will help and provide the most vulnerable amongst us. it will provide relief to everyday americans. relief to small businesses. it will provide relief to workers. the coronavirus is a silent targeted the s american people, but we are a resilient nation. great ated the depression, we defeated nazi germany, we defeated jim crow. will defeat covid-19 as well. the speaker pro tempore: the gentleman yields. the gentleman from maryland reserves. texas is man from recognized. mr. brady: mr. speaker, may i nce again inquire as to the time? the speaker pro tempore: the gentleman from texas has 8 1/2 minutes. he gentleman from maryland has 9 1/2 minutes. mr. brady: thank you, mr. speaker. one minute to the gentleman from illinois, mr. bost. the speaker pro tempore: the

congressman hakeem jeffries of new york, chairman of the house democratic caucus. and chairman jeffries, thank you for being here. >> good morning. >> i want to -- let's go in reverse order. because i do want to ask you about the special -- the person who is supposed to be overseeing that bailout. i'm going to go back, you are in new york, what do you make of the fact that the president of the united states issued a casual, almost casual kind of blanket threat to quarantine the new york tristate area, new york, new jersey, connecticut, something he had no constitutional authority to do, freaked out a lot of people, who thought this was possible, and then immediately takes it back and the cdc, you know, he says, i'm going to have the cdc do a no travel order. what do you make of the fact he did that at all? >> well, the big problem at this moment is that in times of crisis, leadership really matters. governor cuomo is providing it for instance and donald trump is not. what we see from donald trump is that instead of operating in an evidence-based fashion, being guid

point, youvonnie's did partner with jeffries on this initiative.raise $1 billion from private investors as well. as you are moving so quickly to deploy resources, is this going to be profitable for those new investors? jay: i honestly don't know, but long-term, you need plastic packaging. even if we don't make money initially, that is not important because long-term, you are going to need plastic packaging. right now we are focused entirely on getting the capacity built, which is why we have created a public benefit corporation right from the start. we know this is the time for everybody to come together and step up. it's not about profits. it's about scale and making it work. vonnie: jay walker, thank you. guy: thanks very much. jay: thank you for having me. apiject walker, the chairman and ceo, and our thanks to bloombergs sonali basak. still ahead, our interview with house speaker nancy pelosi as the house takes up a historic stimulus package that has cleared through the senate. will it get through tomorrow? nancy pelosi is going to be joining "

. >> jeffries chief financial officer said he died from coronavirus-related complications.of 56 broadband has served as jeffries ceo since 2007 >>> the fda has given approval to abbott for a test that detects coronavirus in roughly five minutes they will make them available to health care pryers some time this week. president trump praised the company yesterday. >> normally this approval process from the fda would take ten months and even longer, but we did it in four weeks. abbott has stated they will begin delivering 50,000 tests each day starting this week. >> and employees at food shopping and delivery service instacart in high demand of late are preparing for the possibility of a strike today. contractors are demanding the company provide hand sanitizer, increase hazard pay per order and expansion of the current sick pay policy. instacart says anyone diagnosed or placed into mandatory quarantine will get up to 14 days of pay, saying health of the entire community is its top priority. >>> it's not just instacart. as many as 100 employees at amazon.com's staten island fu

jeffries you or. spare us that demented screen doc that. says conditionally size up the list but in so few words and industry post communist affiliated with this person he was only. given to us for the such great ideas are still on the t. come forth from the federal here to use or tell them you're taught to do is look i've been doing this to quote come close to each one of the conflicts of history even more you could tell in the last qually your school of usability cooked with 2 budgets which is basically what. you are generally. wants to do you know miss miller. but looking back you know i am. relieved now. you know i have a stash of apology to you for very very last question time. i'm not a boy you. are stubborn too not if you force me to the russian security just. don't push us around with the pitch to a slow up december 21st to keep them patient. in the 1st issues they just don't should or should try to attach to. so skinny klatsch on. t.v. mysteriously into the so i can. see. the visit by to. watch tons of black on the package go to hi

jeffries you or. spare us that demented scream that dr. possessed the smallest size of the deals body and soul into supposed communist a 1000000000 people to this person he was the only. universe within the such great reviews are still on the t.v. come forth from the people here to use or tell me what to do is look i've been doing this to quote come close to the context of history of even more you could last could be your school of you is a book thief cooked with which of a slew of. your tentative. wants to hear i'm a dismal. look at you back you know i am. relieved now. you know i have a stash of apology to you for really if you just got some time. i'm not a boy you. are stubborn too not if you push me to the one where she sit you just. don't push us around with took the piss do it to us go up december 21st to keep them patient. their 1st is just they just don't shit or children to a. so skinny clutch on. t.v. mysteriously into the so i can. see you on a visit by to. watch tons of black on the package go to his new what the bush folks sho

jeffries you or. demented me doc that. possessed these money so i was up to deals but in so few words in the industry post communist a 1000000000 people to this person he was only. human if i spoke to the such great ideas are still on the t.v. come forth from the people here to use or tell them you're going to do is look i've been doing this to come close to the context of history of even more you could last could be your school of usability cooked with which i'm sure a slew of. your generally. wants to do you're going to slow or. at the back you know i am. on leave now i. will go on to the status apology to you for the secretary to just come talk. i'm not a boy you. are stubborn too not if you push me to the russians sit you just. don't push us around with look at this do it to us go up december 21st to keep the patient in the shop. the 1st issues they just don't should or should try to attach to. so skinny klatch on. t.v. mysteriously into the so i can. see. on a visit by to. watch them once a block on the package go to

. >>> and for more now, i'm joined by congressman hakeem jeffries of new york, the chair of the houseemocratic caucus. congressman, thank you for taking a few minutes. actually, i want to start with you on what we were just talking about with the previous guests, it seems to be the biggest issue out there. you have folks all across the country. it took different people different amounts of time to really grasp the seriousness of what we're facing but it does seem like now you have broad buy-in from people on social distancing. the question though is, beyond a few weeks, if people start to look at the economy changing, their savings drying up, their jobs threatened, issues like this, how long realistically can we ask americans to live like this? >> we're going to have to take this week to week, month to month. it's important, steve, to emphasize why social distancing is important and why it's necessary to flatten and dramatically bend the curve. we need to create the space for us to build up our public health infrastructure so that our hospitals are not overrun, our emergency rooms are

jeffries is giving up on the energy sector.t 40% here today. >> not just saying they are giving up. they are saying just when it does not get worse for energy, it does. the 1962 mats were known as one of the worst baseball teams in history. they lost 120 games. i take great pleasure in saying this as a yankees fan. the data matches up. look at the stocks. energy shares makeup just under 5%. now and a sector is bear market. anna: thank you. that analogy was well explained. let's take a look at some of the other stocks on our watchlist today. they are talking about a 10% drop in advertising revenues. delays of advertising spending. that is having a big impact. not have the visibility to tell us where that is going. is the beijing metro. they are seeing a hit there. as a result, they are reviewing their pricing. you have been looking at insurance. matt: i'm looking at at the the -- aviva. the u.k. insurer posted full year profits in line with what was expected. citi says it looks like a slight beat. will see a little bit of a gain

labor department has reported several $100000.00 claims filed jeffry tucker at it or a director at the american institute for economic research says that the global economy is under severe strain. because there were infinite i don't even think economists have to start recession and start fresh and it's it's it's own imaginable levels of of shock and the data are going to it's like that. and give you a clear prediction what the unemployment numbers are going to look like that we're going to be seen soon but i almost certain that millions have already lost their jobs and this just cannot go on much longer without dismantling everything we call civilized life it just it just cannot go so the pressure is growing by the day by the hour by the minute or for the politicians to line up their decisions public policy decisions with the actual documented health risks which are becoming ever clearer as testing has is going on. u.s. senators have been accused of exploiting their privileged access to information about the pandemic in order to make a quick buck that's after they sold off a large numb

jeffries paid executives bonuses work's fall.e the bank's board has authorized $10.7 million in cashthe ceo and his deputies and saying the collapse was completely unanticipated and dramatic. for theg.com, fighting right to repair farm equipment. this as other manufactures with thee industry data and software, making it farmers to fix the problem. hillary clinton is addressing the double standard of women presidential candidates. even though she did get the democratic nomination, she says there is still a double standard when it comes to winning running for president and was thrilled with this year's diverse field. you can follow all the stories online. approving a. senate $7.8 billion emergency spending bill to battle the coronavirus. mark warner's pork earlier with kevin cirilli on capitol hill. take a listen. public believe in a health emergency like this that testing should be free. be provided with more liquidity to finance that testing rapidly? with people today and i have urged him to look at the front levels of financial forbearance, credit cards, interest payments. we could

jeffries has some suggestions. no risk global stocks. suggestions, adidas and unilever.don't know whether this is going to weather the storm. you say we need a more demonstrable response. what do you mean by that? ofthat means taking care liquidity in money markets in particular. second we have to deal with the banks. what of the helicopter money? >> helicopter money could help, but particularly when it goes to consumers. that means retail credit, credit card credit, this is where you need relief. that is reunion -- where you need greater attention. consumers. manus: you say they have the firepower. >> they have accumulated reserves. including the sovereign wealth fund. the central bank and the sovereign wealth fund, they can deploy. when it comes to the shock, they can absorb that shock. manus: what do you want to highlight? i look at dollar-yen. we have less than 60 seconds left. you are seeing a reprieve this morning. there is the ruble on the move. let us roll it over, have a look at dollar-yen. more intervention from the bank of japan, is that next? >> they cannot a

for telling the truth and making our democracy live up to its great case in point former cia agent jeffries. only sterling joined the cia in 1903 and just 2 years later was promoted to operations officer in the cia's near east and south asia division focusing his efforts on iran he later recruited iranian nationals as agents for the cia as part of a secret operation involving iran's weapons capacity being a civil servant committed to his job of protecting democracy sterling did what we are all expected when we see wrongdoing he raised concerns in march 2003 he communicated with the senate intelligence committee about a poorly executed and dangerous operation merlin a cia led covert operation that was supposed to slow down iran's nuclear program he blew the whistle. sterling had been in contact with journalist james risen and was thought to be a key source for his book the state of war detailing america's botched covert operation to disarm iran's nuclear capacity through a series of trace phone calls and intercepted communications sterling was pegged as the inside source for bribes and book

jeffries: america is the wealthiest country in the history of the world. assembled the mightiest military, but you annot judge the greatness of america based on our wealth or our military might. we should only judge the america based on left stand up for the behind. the cares bill is legislation that will help and provide the most vulnerable amongst us. it will provide relief to everyday americans. relief to small businesses. it will provide relief to workers. the coronavirus is a silent targeted the s american people, but we are a resilient nation. great ated the depression, we defeated nazi germany, we defeated jim crow. will defeat covid-19 as well. the speaker pro tempore: the gentleman yields. the gentleman from maryland reserves. texas is man from recognized. mr. brady: mr. speaker, may i nce again inquire as to the time? the speaker pro tempore: the gentleman from texas has 8 1/2 minutes. he gentleman from maryland has 9 1/2 minutes. mr. brady: thank you, mr. speaker. one minute to the gentleman from illinois, mr. bost. the speaker pro tempore: the

coming up, jeffries finds rock hard global stocks to write out the chaos.sustainability. we will bring you a selection next in our morning call. this is bloomberg. ♪ matt: welcome back to "bloomberg market: the european open." we are about seven minutes from the start of cash trading and we do see green arrows in terms of futures. yesterday, we had incredibly dramatic drops. the biggest in most indexes since the financial crisis. in others, since september 11, 2001. these bounces are definitely small in comparison to the drops that we saw yesterday. are you looking for a place to park your money now amid the turmoil from coronavirus and the oil market? jeffries is suggesting some low risk global stocks to ride out the chaos with your morning call. here is and reordering. annmarie: they are looking for places to hide amid the chaos and markets. a lot of companies in staples, health care. proxy and highd visibility. some names already does, associate foods, unilever, which makes dove and similar home and personal hygiene products, and the u.s., names like act

wait and see there's -- i don't mean to pick on jeffries, but let me pick on jeffries >> las vegas sands >> las vegas sands the full faith and credit of what f full faith and credit of caterpillar? i like caterpillar, i don't want to buy a single company where the numbers are too high carl, with the exception of clorox -- >> jpmorgan. >> -- i do not see a number where the numbers are reasonable i think they're all too high, except for clorox. i'mraising clorox. >> the jeffries call on las vegas sands, the title of the report is safe to play in traffic. their point is of the companies we follow, we have the clearest view of lvs two to three years out. >> yeah. >> so the duration of patience is remarkable. >> they're more patient than the people who own the stock you can think two to three quarters out if companies think you need their product, that's a great deal do i think verizon is a buy? at a certain level, yes, they're in the mix of things you have to have i do think that certain department stores are essential? no do i think casinos are essential? no do i think carnival cruise is es

face to face meeting in moscow an international conference is going to be held in a cell and james jeffries also will be attending in that conference so it didn't actually. he has been working hard and they have been coming back and forth to turkey for a while for a couple of months and this meeting is also it's expected to bring a solution. on the un level as well of course before going to moscow as dawn has some conditions that he will present to put an end mosco has other conditions which are basically turkey insists that the sochi agreement as signed a few years ago shall continue as the way it is which means that the syrian government forces shall with roll back to its prior positions by the borders of the the escalation zone which is down below the vital and 4 and 5 highways and of course the russians are insisting that the sochi agreement is signed between turkey iran russia and syria shall be revised because they see protests change and the conditions on the ground have changed as well so we are waiting for james jeffrey and the delegation with him including kalak craft to arrive he

jeffries, the ceo says -- the to has died linked coronavirus, marking one of the first reported deaths senior wall street figures. we discussed the pandemic impact next. this is bloomberg. ♪ nejra: this is "bloomberg daybreak: europe." i'm nejra cehic with manus cranny in dubai. u.s. and european futures, firmly in the green after a better week for the dow since 1938. global equities, heading for the worst quarter since 2000 and the 10 year yield a steady. some firmness in the dollar after its worst week since 1985, but weaker against the yen and oil at a 17 year low. for today come at jefferies says the cfo if its main subsidiary has died from complications linked to the coronavirus, marking one of the first reported deaths among wall street figures. the rules are being rewritten under the pressure of a deadly pandemic. manus: joining us now is annmarie hordern with the latest on this. this is the reality on wall street, a tragic story. annmarie: incredibly tragic and devastating. the finance world is mourning the death of the jefferies ceo, who died from ties to the virus. he's been

and not as bad as it was the the breeze actually is coming out of the interior temp is the reason jeffries at $24.00 to this is to 60 to mrs lee and m. baracoa on the atlas mountains in particular it is like sun storms or showers of rain rather than snow it's not as close it was a robot on the coast 70. frank assessments the one good thing about these bushfires usage really wiping out the politics of climate change informed opinions economy i think is actually what's keeping damo trouble afloat right now critical debate sequel almost to school given the work of lawyers on 'd about this argument is astonishingly patronize an in-depth analysis of the day's headlines this is the beginning for a new iraq of a new conscious and aware youth about struggle against an ethnic sectarian kota inside story on al-jazeera. more. order. watching al-jazeera let's recap the top stories more cases of chrono virus have now been confirmed in the us than anywhere in the world restaurant trump says he's committed to getting people back to work soon but that is against the advice of many of us medical experts ch

jeffries. good night from new york.ral media trying to find some justification for chuck schumer's threat to our supreme court justices while schumer himself, finally, makes a very weak attempt at an apology. who is this guy? i mean, he's supposed to be the minority leader of the u.s. senate. but i'm setting the record straight tonight. chuck seem schumer is nothing -- chuck schumer is nothing but a political animal who symbolizes all that is wrong with american politics. i'm trish regan. trying to shrug off his outrageous, dangerous, hateful commentses that he made on the steps of the supreme court. we're going to get to those comments in just a second, but

it's on the jeffries balance sheet list as a company best positioned to weather the storm. a strong balance sheet and sustainable cash flows. ine depot has $2.1 billion cash with more than $13 billion in cash flow from operations for 2020. another one is boeing which is a company we are watching. it's up about 16%. they say they will resist u.s. aid if the government takes an equity stake and the ceo says they would rather open up the credit market and have boeing that on its future. -- bet on its future. we are also looking at the vix. you still have the vix falling for about six days or so, down below its 60 day handle. -- six day handle. it's all about the 10 year as well. we are still below the 1%. 84 basis points and i'm struggling with the fed putting downward pressure on yields and massive treasury issuance, 2.5 trillion dollar stimulus in the upward pressure that creates on yields and i imagine more price discovery in the days to come. amanda: thank you so much. we have been watching central banks around the world step up their efforts to fight the impact of covid-1

david owen, chief economist jeffries international. >>> italy unveils a stimulus package. we'll discuss the details after the break. can we go get some ice cream? alright, we gotta stop here first. ♪ ♪ from smarter atms, to after hours video tellers ♪ ♪ comcast business is connecting thousands of banks to technology that turns everyday transactions into extraordinary experiences. hi there. how are you? do you have any lollipops in there? (laughing) no, sorry. we're helping all kinds of businesses go beyond customer expectations. how can we help you? dealing with our finances really haunted me.ttle cranky. thankfully, i got quickbooks, and a live bookkeeper's helping customize it for our business. (live bookkeeper) you're all set up! (janine) great! (vo) get set up right with a live bookkeeper with intuit quickbooks. >>> welcome back to "street signs. some news out of north korea they say they will chatter one flight to aloe foreigners to leave amid coronavirus outbreak. the flight for foreigners will depart on march 6th and wi that's word out from north korea doing their b

jeffries. good night from new york. trish: the liberal media trying to find some justification for chuck schumer's threat to our supreme court justices while schumer himself, finally, makes a very weak attempt at an apology. who is this guy? i mean, he's supposed to be the minority leader of the u.s. senate. but i'm setting the record straight tonight. chuck seem schumer is nothing -- chuck schumer is nothing but a political animal who symbolizes all that is wrong with american politics. i'm trish regan. trying to shrug off his outrageous, dangerous, hateful commentses that he made on the steps of the supreme court. we're going to get to those comments in just a second, but first, i want you to see his lousy mea culpa attempt. >> i'm from brooklyn. we speak in strong language. i shouldn't have used the words i did, but in no way was i making a threat. i never, never would do such a thing. trish trish oh, yeah? because that's exactly what you did. watch. >> i want to tell you, gorsuch, i want to tell you, kavanaugh, you

jeffries is saying food at home shales good rise in the next month.hat is giving a boost to companies like can aggro, james smucker. guy: late last week the fda gave roach a green light for emergency use of its high-volume coronavirus test. president trump talked about the decision at his news conference friday. >> using federal emergency authorities, the fda approved a new test of the virus. we did this within hours after receiving the application from roche, a process that would normally take weeks. we expect up to a half a million additional test will be available early next week. we will be announcing locations on sunday night. i want to thank roche for their incredible work. guy: joining us from switzerland is the ceo of roche. octor, the president talking as if this is happening quickly. your tests are being brought in as quickly as humanly possible. you must be frustrated. it has been clear this virus will travel to europe and the united states. how frustrated are you this did not happen earlier? >> i am quite proud of what we have achieved, no

home depot was among companies that were best positioned to weather the storm, according to jeffries.ome depot has risen $2 billion in cash with $13 billion in cash flow from operations, so really strong balance sheet here leading the dow. i want to take a look at crude. crude is not doing so well, but some of the other individuals are -- occidental is one that caught my eye. they agreed to intrusive activism. they have ended a 10-month bid or campaign that was looking for the billionaire the fire the board because he has controlled the company they have come to a resolution, getting a few new board members. the handsfate is in of a new set of boards. on a light note, we want to take a look at orange juice futures. i have been stocking up on vitamin c -- i have no idea if that helps or not, but i am trying to stay as healthy as i can. orange juice futures surging amid everyone rushing to get there vitamin c. shery: thank you very much for that. we are all stocking up on vitamin c. the u.s. senate approving the historic to trillion dollar a package after days of intense negotiations, t

shared by a lot of business leaders, tonight for example rich handler, who is the chairman and ceo of jeffries wrote a very thoughtful letter that could be a template for what the administration could do, sort of detailing that businesses small and large are really going to suffer here. in the financial crisis the issue were banks and the government came in and assured they were solvent and made sure the rest of the system could work. now what we have is a business crisis and what we need to do to address the health emergency is stop business. many business leaders, whether it be mr. handler, whether it be mr. ackman, have said maybe we need to shut down temporarily and really attack this because the thing is, brian, businesses cannot survive. most businesses like individuals who live on credit cards, businesses live on leverage. and across most industries they cannot survive something like this if it's a slow bleed. so many business leaders are urging the administration to do something more severe. rich handler has suggested not just doing a bailout but saying let's actually create loans for

coming up next on "am joy," hakeem jeffries responds to president trump's almost quarantine of the tristaten ingredients that fuel 5 indicators of brain performance. memory, focus, accuracy, learning, and concentration. try neuriva for 30 days and see the difference. better days are ahead. ♪ i know that there'll be better days ♪ we are all one jeep community and we can help. so we're offering payment assistance, 24/7 support and the option to shop at jeep.com. we're offering 0% financing for 84 months with no payments for 90 days. because better days are just down the road. ♪ better days jeep, helping you drive forward. ♪ better days has you covered withe fast, reliable internet.finity with advanced security to help keep you secure online. and with the most tv shows, movies and streaming apps all in one place. with simple digital tools you can get the help you need or even trouble shoot your services on your own. download the xfinity my account app or just say help into your xfinity voice remote. we are working to make things a little easier on everyone. download the xfinity my account app

next, jeffries upgrading p&g saying there's broad based portfolio strength and believes it will be aear term beneficiary of pantry loading in the u.s. and that china second largest market is in recovery market up also nearly 2% today at 112 finally goldman sachs upgrading sherwin williams to a buy. while they acknowledge coronavirus will cause a temporary slowdound in activity saying when conditions normalize interest rate wills provide an incentive for new home buyers and for current ones to refurbish and think that they'll benefit from the oil prices. >>> treasury secretary mnuchin says hazard pay should be included in the next rescue bill as warehouse and delivery workers are staging strikes and walkouts today protests safety measures to protect them from the virus. deirdre bosa has the latest. >> reporter: we are getting color from the on the dmon stragss. amazon walkout attracted a small group of warehouse workers and in touch with sarah clark, a person behind the instacart strike and said she is overwhelmed by the response. dissatisfaction of warehouse and delivery workers is b

doing calls,e been hakeem jeffries has been doing a phenomenal job, literally spent the entire day today on the telephone on a caucus meeting, an update from frank pallone and freddie scott. about personal protective for thet, osha rules health care workforce. what you are hearing on these hearing thisare member of congress from detroit and what is happening. greg meeks was on the call advocating for what is going on in new york. they are in the member of the crisis right now. a member of congress from alabama. that with a call like a caucus so big, you get a feel for what is happening and what the tempo is in different communities. but we are all in the same boat. people don't have the protective equipment they need to be we need the manufacturing and production done in the u.s., we've got to ramp it up immediately. to aow we got off terrible start and we are really behind. so you get the people on the front line who are afraid but they are doing the job and showing courage across the country. host: the plant in lordstown, what role will that play in this pandemic? guest: it won't play

it's a what we have seen, primarily sense ambassador jeffries took on his roll, is that he has done many good things, he did the right things pretty is the put the energy into u.s. policy in syria in two or three times the president has pulled out from under his feet, destroyed all of the progress he made. could and then had to stop again. investor jeffrey traveled to africa ten days ago. with the support of secretary pompeo, he did i think in my view, all of the right things which was to lend nato, rhetorical support in a two to encourage turkey to assert itself more strongly. an essay that you have our support as the united states. and nato ended that night, and is the most telling thing, the national security advisor went on tv. and essentially said, the united states isn't going to do anything about it. it's a mess to deal with and we don't have any results to do this is none of our business. pulling the rug out from under the feet. as he was still trying to negotiate with the turks to encourage them to do more . and then continues to be the problem. obama and his administration and

maria: that is big story, of course, you he mentioned jeffries that is raising money for emergency drugced looepgd charge to raise a billion dollars to help fund the public/private partnership distributevenes, i want -- one of your companies, part of this partnership that is developed small vials look good i like small about about plastic can be safely discarded right? >> not only can they be safely discarded but a small chip goes for mobile phone we know exactly where and which each dose was given we have to give more than one in most cases, we are going to have to use digital technology combined with this, to make the whole thing work it takes both information and smart american packaging to make this thing fly. maria: how come we needed a crisis to indicate how severely we are relying on foreign actors for so many important products jay? we needed this crisis to wake everybody up that we should democrat have active ingredients proud in china for prescription drugs? >> unfortunately in a democracy it often takes a crisis before lushl priority becomes short term true in pearl harbor in

john jeffries died in 1942 as well. who were the ones personally knew what the public had done. -- what the polish had died. -- had done. around interviewed by the official historian only had a hearsay knowledge about what the polish had done. namesitish gave british to the polish. method was the clock rechristened because the paper sheets they were used were made in a town called banbury. this sheets were renamed. meant everything the polish had done was lost the memory. this is a struggle for them to understand because they assume we are lovely in the west, but we keep our secrets. i've been in the national art today and i wanted to look at put inn enigma that were the archives in 2010. i was not permitted to look at them. iny are still classified 2020. that is how excessive we are about the enigma secret, 75 years after the war ended. this was a secret. people were not allowed to know. while he was free to write books in communist poland, he was not allowed to write books on the subject in the west. so these half-tru

there was another guy called john jeffries died in 1942 as well. 1941 even. those guys were the ones who personally knew what the poles had done. everybody else who was involved and who was a rounds to write official accounts and interviewed by official only hearsayd knowledge about what the polish had done. the british gave british names to the polish techniques. for example the clock method was rechristened because the paper sheets they were used were made in a town called banbury. they just gave british names to things. the sheets were renamed. jeffrey sheets. you had to call them different things. this meant that what the polls had done was lost to memory. this is a struggle for them to understand because they assume we are lovely in the west, but we keep our secrets. scarily keep our secrets. i have been in the national archives here today and i wanted to look at files on enigma that were put in the archives in 2010. they are still classified. i was not permitted to look at the code -- the files. they are still classified in 2020. that is how obsessive w

>> i had many, many years ago, peg broadbent. >> he spent 16 years at morgan stanley and then at jeffries he had been cfo since 2007. you know, as this -- as this whole pandemic progresses, i guess, unfortunately, we may be familiar with some of the other names. one thing that -- i don't know if it's a positive, andrew, but there are people that have gotten it and the symptoms seem to be minor and then you hear that they're doing well and then you hear they're out -- tom hanks and rita wilson and others we're getting inundated. we've never had this much opportunity to be inundated from media with every different outlet. >> nope. i should mention, by the way, because i tweeted out about it about a week ago, a friend of mine, and many viewers may know him, david lat who created above the law, a website every lawyer in america reads religiously, only 44 years old. he was in. icu on a ventilator for about a week but he's off that ventilator and out of the icu. that's great news. we're thrilled to see that meantime, we should move this conversation to washington, d.c., where so much of the pol

are you as an analyst at jeffries saying stand back or are you at this point saying there's some valueere even if it's not the exact bottom? which is it? >> right we are -- we are standing back and re-evaluating, you know, all of our coverage, which i should be clear does not include airlines you know, we are much more on hard assets of hotels, both on the c corp and real estate side as well as gaming. >> great did we ask you that beforehand anyway, as long as you're on the line, how about same question for that then your answer is you're standing back? >> yeah. yeah look, if we look at the hotel companies that are the most prominent involved, hilton hotels, for example, a number, about 2/3 of the hotel companies we cover have taken the extraordinary step of pulling their guidance, not revising it but pulling it altogether. the rest of 2020 we really don't know what that's going to look like i think more importantly what we don't know is what 2021 is going to look like what is the new normal we will come out of this but what should we be valuing the stocks on on 2021 so, you know, math

that is according to jeffries.we will continue to watch those stocks, but there's trading in sydney. still ahead, an exclusive interview with james bullard, canis now saying the u.s. afford adding trillions of dollars of debt and it will not hamper future economic growth. taylor: up next, tribeca investment partners say equities could still fall further. the heavy selling pressure is unlikely to be repeated. her market outlook is coming up. this is bloomberg. ♪ taylor: -- ritika: you are watching "daybreak asia." i am ritika gupta. australia is heading for its deepest recession as measures to curb the coronavirus push business and consumers to the edge. bloomberg economics says gdp will decline by 10% in the first three quarters of this year before showing a gradual recovery. the government is pledging -- to safeguard jobs. the tokyo economy might stall if there are several new virus infections reported. japan has remained relatively free of the pandemic but there is concern that any rising cases will prompt author

i don't believe -- there was another guy called john jeffries. he died in 1941. those guys were the ones who personally what the poles had done. everybody else who was involved and who was around to write a official accounts and be interviewed by the official historians had only hearsay knowledge about what the poles had done. interestingly, the british gave british names to the polish techniques. ajidsky'sle, the r clock method was rechristened because the paper sheets they were using were printed in a town called banbury. they just gave british names to things. the sheets were renamed jeffrey sheets. they were essentially the same thing but they were in imperial units, not metric sheets. they were different sizes so you had to call them different things. you know, all this meant that what the poles had done was lost to memory, and because of the iron curtain problem -- and again, this is a struggle for poles to understand, because they kind of assume that we are all open and lovely in the west, but we are not. but we keep our secrets. like scarily keep our secr

jeffries said the cfo of its main subsidiary has died from complications linked to coronavirus, marking one of the first reported deaths among wall street figures. 2007d been cfo since late following a 16 year career at morgan stanley. the news comes as thousands of traders deemed essential to working life continued to head into the office every day. 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 am karina mitchell. this is bloomberg. yvonne: thanks. still ahead on "bloomberg markets: asia," oil tanks on both sides of the atlantic as the coronavirus wreaks have it -- havoc with a market drowning in crude. china looks at the headwinds and opportunities facing logistics with a cfo. this is bloomberg. ♪ yvonne: just want to bring you some of the latest pictures coming out from beijing. this is the ministry of industry and information technology holding a briefing on the resumption of manufacturing in china following this virus outbreak. they seem to be sending a message of caution, saying e

. >> a lot of that >> jeffries takes procter and kimberly to buy today, jim, on pantry loading that's their term. >> yeah. it's back. when i spoke to hormel, they said the center of the supermarket -- when you go to the supermarket, there's a fresh food aisle, also the frozen food aisle, you have the milk section. in the middle is the section you wouldn't be caught dead in, things that came in cans, fresh as the day they were canned. that's what's doing well spam is selling like it's going out of style now, i have not -- i had pumpkin spam earlier this year i found it sub optimal, but people -- they hoard spam. it's something that is working hershey's is working campbell's soup is working but when you buy bread it's not holding up it's not standing the test of time saltines, maybe. ritz crackers. >> i'll go for any of it i think all of us are eating i don't know about you, we're eating poorly. very poorly. >> you and i understand -- >> and no exercise it's a good combination. >> your home gym is not working? >> i'm walking, but i can't swim >> how can you walk? >> i'm taking walks. >>

and one of the reasons that it could be is something we've been writing about in our notes lately, jeffries the risk parody un fers iverse coming unglued at the zero bound f you don't have the treasuries to hedge you anymore, then you can't hold theequities in a risk parody trade. that's been a big trade. it's been one of bridgewater's trades for many, many decades. when you get to zero, the stocks can't rally. they're at zero. so the holders of stocks that were insured with the bond portfolios don't have the insurance anymore and they become just naked holders of stocks and i think what we're seeing a fair amount of liquidation in that strategy in particular which is a very large strategy, something i built my career around at xwef riz as well so we've been highlighting to our clients over the last few weeks that this becomes a much more trouble some strategy as we get towards zero and seeing that, the action in gold also i think tells you something about the strategy because a big part of some of the more complicated strategies is they have a lot of inflation hedges they tend to buy gold