manus: thank you. ok.ernational energy agency is warning crude demand will drop this year for the first contraction since the financial crisis. >> one should not underestimate the resilience of shale, second, the impact it will have on the economy. new than the discovery of a oil policy, it is proven to be a russian roulette, which may have consequences beyond oil. manus: grave consequences beyond oil. fatih warning about the consequences. what is the most immediate consequence? the gulf oil countries are going to dip into recession worse than we might think if this continues, then what we had in 2015. if this continues, they are going to cut a lot of spending in the nonoil sector. manus: will russia come back to the table? >> i doubt it. you have a lot of personalities facing each other, none of whom will give up. manus: more work to do. up, deutsche post reports its fourth-quarter ebit that falls short of estimates. we speak to the ceo of the world's largest express to revelry -- delivery company. ♪ w?w?

manus: good morning from bloomberg middle east headquarters in dubai. i'm manus cranny. this is "bloomberg daybreak: europe." risk assets, slammed, stock futures plummet amid a global selloff. european stocks point to more losses. plus nosedives as opec breakdowns and sees saudi arabia cut prices. treasury yields tumbled, the curve below 1% for the first time. yen surges to the highest in three years and gold tops out $1700. top 3800.ths germany boosts investment to bolster its economy. the u.s. is said to be drafting measures to blunt the fallout. a cataclysmic implosion of in response mechanisms, the oil market, equity markets, and it is visceral. to the oil market, the biggest one-day plunge since 1991. it lasted for five weeks the last time the oil market collapsed like this. we are in an unequivocal outright war on the oil market, according to goldman sachs. how that endures, will the russians come back to the negotiating table? saudi arabia offering their oil at the biggest discounts to anyone else in their wake in 20 years. $20 is on the agenda according to goldma

manus: good morning, manus. not a pretense that we have better view than anyone else. there is evolving size coming down the pipeline. there is one part of our asset allocation hinging on the sentiment indicator. in the extreme positive or negative, you act in the opposite way. the odds of winning from that trade tend to be greater than 50% and given how extended sentiment was on friday night on a three to six month view, many more times than not, you find equity returns are positive over cash over that timeframe. that is the basis of the decision. so if that is the basis of the trade, to the director, i will take the charts on my screen. we are five kilometers give or take, but that can't stop us from talking about a chart. this is global financial conditions. a lot of people are saying to me we don't want central bank cutting rates, that's not the right response. i put it to you they don't know what they are talking about because the purpose isn't necessarily it will get me to do something magnificent on the spending point, but to bolster this squeezing of financial

manus: saudi, as well.019see the growth buffer you, there was a prism of light in terms of the nonoil sector, but they are in extremely linked and if you have more demolition on the oil market, that has got reverberations in the government's ability to spend. yaser: absolutely, there is fiscal pressure and some countries are better positioned to inject fiscal stimulus into the economy. i do think saudi arabia still has some capacity to do that. certainly the uae does. higher capacity to do that, but it all depends on how long we will see this crisis continue. if it is a matter of another six months, there is enough firepower to fiscally intervene. manus: thank you very much. containmentn to the and containment policy in the impact. will helpefully panic us contain it. manus: nothing to fear than fear itself. , seniorushaban investment consultant at mercer. next, equity markets plunge across the middle east. kuwait halts trading as it falls 11%. dubai wipes out 5%. egypt, that wipes out 6%. we dig into the d

manus? manus: matt, let us see what she does deliver.is as much about the toner, the intonation, and the conviction with which you talk to markets sometimes. thanks very much. meanwhile, my guest host is the u, if i generale -- koko look at the menu sheet of what matt has just laid out, what is the most effective in terms of policy response? or do we need all of them? tell me what you are thinking in terms of that a la carte venue and the delivery of the courses. kokou: when it comes to the a la as a menu, think of it tltro targeted that sme's. the lack of flow of money, the flow of cash is being disrupted, and this is creating a risk of bankruptcy for sme's. some of them are also zombie companies because they have been sustained by low interest rates and low funding. --you are able to breach provide financing, bridge financing, or helping the working capital finance needs, that will alleviate the pressure shorter-term. you also need to have some kind of guarantee for the bank. banks are clearly going to see the nonperforming loan increa

manus: let's get to new york. ann mary, so some startling and for new y sad numbers york in terms of the latest numbers. >> new york state and city are the epicenters of the pandemic in the united states. not supposed to see the two weeks. of this lld right in coronavirus deaths. increase in just six hours. coming out numbers off new york. center open bbiot p, it's lucial a lot of conferences. -- the last time comfort was here in new york responders on 9/11. 1,000 beds on the comfort and idea of opening up all hospitals is to make them comfort so they can focus patients.ronavirus you can see it's very desperately needed given the of these hours we're seeing. the white house and congress sureth round for a of stimulus. >> no timing just yet. we only just had the $2 trillion legislation.into they are discuss it. ose nose said they are collecting information a. total will be about $600 billion. financialr state aid, instruments, the mortgage market another tially direction. get rid of ove to he limit on state and loc

manus: good morning. if you take that as the starting plan for this morning, futures dropped on some of this news flow, but i look at jpmorgan. they are saying their step of market stabilization has been met, the conditions for stabilization have been met, recession like pricing has been factored in and the reversal of investor positioning and extraordinary stimulus. if you take the extension of preventative measures and this take from mr. norman, would you concur stabilization is something that you can see? stabilization for and revival are largely being met? marija: yes, i would have to say in the medium-term, we are fairly optimistic on the performance of risk assets. as you said, we had a lot of policies for fighting the virus. one of my colleagues described policies from central banks as unlimited and forever qe. it is everywhere, and we control in the fiscal mix. in terms of economic policy, a lot has been done and we expect more to be done. what we absolutely need to see is some clarity of where we

manus: let's get to taylor riggs.s now looks like a head-to-head between sanders and biden, but it is not a done deal yet. sanders got california, didn't he? >> you are right. the key takeaway is like you said, very can -- and neck. drastically different views of all those who -- super tuesday, a big win for joe biden. virginia, arkansas, massachusetts. massachusetts was a big loss for senator elizabeth warren. that is her home state. a lot of people were questioning joe biden's ability to become a presidential candidate, to be able to defeat donald trump. a lot of those questions are in the rearview window -- mirror, i should say. he kind of takes a look at what could be a big night for him. bernie sanders, don't count him out. success.ad some california, like you said, a big winter there. vermont, colorado, texas, looks neck and neck. bernie sanders saying he is best positioned to defeat donald trump. questions remain about who consolidates now versus moderates and progressives, who drops out. a lot of questions as

manus: i've got to show you this. our own brand of energy sent has are hereby energyaspects -- here by aspects. nejra: the only one in europe able to get their hands on hand sanitizer. amazing. -- the imf is providing an eight package to help poor countries fight the coronavirus. commitment serious to take action in a coordinated manner. mnuchin from secretary a strong emphasis on action. that has resonated across from everyone. particularly important is that central and finance ministers have shifted their attention to what can be done and we pair our ties -- prioritize that with a great degree of consistency. first, prioritizing systems to protect life and the well-being of people. second, fiscal measures that are targeted to ease the pain on affected businesses and households. quidditytention on the so that we don't end up with a credit crunch. confidence that the financial system, having been built up since the financial crisis, is actually strong. my take from the call is that, in china, the governor of the peopl

manus: what is my risk on the downside?ohammad: it could be significant, six dollars or seven dollars. comeof the reason opec has to meet here is a few weeks ago, there was a sense by the saudis to get something done. manus: what about the price on the upside? mohammad: two dollars or three dollars, not more. the market will look for demand indicators or demand going for the second half of the year. a lot of people have a first half, second affect in their .alances we are not sure if this gets pushed out until the end of the year. manus: thank you very much. we are waiting for the russians to arrive. think, may make vocal comments about how tough it is for their country with sanctions and the inability to buy medicine, the inability to actually respond to the coronavirus. anna? you, on the thank oil beat at that opec+ meeting in vienna. we will be back with manus later as news breaks. talk about the markets. the stoxx 600 down by 2.5%, the ftse down 2%. we also see big movements coming in fixed income markets. the u.s. 10 y

manus: it's a daybreak era. i'm manus cranny in dubai. isn't a bearreally market.m line is trump did not show up. he has no detail on the benevolence to the economy. to the u.k. now, the risks, the rewards, the ramp up to borrowing in today's budget. 2019 was the first year in budget history without a budget statement. and in 2020, britain is confronting the worst economic since the financial crash. as coronavirus continues to spread, the outbreak is overshadowing what was meant to be prime minister boris johnson's landmark moment, a plan to put funds into infrastructure and revise so-called left behind regions. chancellor is expected to present to business to help people survive, support. guest,elcome our next u.k. equities portfolio manager. budget.t ready for this amber, good to see you. will we be limited by coronavirus, or will they start out on the front foot with coronavirus helping business? right, thathat is coronavirus is obviously front and center at the budget that otherwise was going to be focused a bit more specifically on northern infrastructure, but

this is bloomberg. ♪ manus: this is bloomberg daybreak, europe. i am manus cranny.ra: we are seeing a bit of green on the screen in asia for the second day. but reports that we may not get a coordinated response from the g7 call causing future -- to lower.se futures the bond market is not taking much solace from central banks' promises. the chart that matters. look at the real yield. annmarie hordern is here with more. >> the real yield is looking real negative. the 10 year yield -- dropping to the lowest we have seen since 2013. say comes as central banks they are willing to give their support. there is no inflation and no prospect for inflation. given the growth outlook come it does not look like that will happen. said how bad the global economic outlook is looking. sinking to the lowest level we have seen in over a decade. thank you very much. pivot to the commodity market. rebounding from last week's slump as global policymakers have pledged to safeguard markets from the coronavirus. ministers say the group will go ahead with its much-anticipated meeting later t

manus cranny come over to you. manus: thank you very much. let's get straight to sergio ermotti.uppose in the first instance we see the scale on what the central banks have done from the fed, the boj, the ecb. my question to you is, is this thegh to draw a halt to liquidity issue, the dollar liquidity issues around the world at the moment, from what you're seeing at your end? manus, i think the actions that were taken are unprecedented, and they have been quite effective in counting down the funding markets, particularly on the dollar side. and i do think that maybe there are some technicalities that need to be addressed, but i think central banks and the governments have been acting very efficiently at this stage. of course, you know, there is little anybody can do about fear , and fear is probably one of the most dangerous sentiments that you can have in this environment. it is not fear about markets, it is fear about health and their ises, and therefore there only so much that the central banks and the governments can do to alleviate this issue. manus: that fear has given rise

in just a to manus moment. crude oil at $45.43 a barrel, and the yen, which was really looked for me when i across my asset price worksheet -- the yen was 105 handle, safeng a real fleet to haven assets. let's go now to manus cranny. he is, as i say, live in vienna, been following the opec plus meeting for days on the ground now. are we going to get a decision, an agreement from russia? menace: it is a high risk roll of the dice. ministerrainy and oil arrived back here yesterday and said if they don't all get together, there is no plan b, so the evening unfurled a little bit further. it was all very casual, and of they were where the saudi's are, so there was that plan b in formulation. in other words, if the russians arrived at this marriage of eternity, looks a little shaky, there is a plan b. they put whatever plan b is in place. preparedness for a tough negotiation period this morning in vienna. there's nothing that galvanizes more than the speed of pot -- more than the speed of price destruction you are se

manus: it was interesting that he lifted all his hedges.f the doom and gloom and despair from him last week and here we are, i am ripping off my hedges in the credit market, they are gone, and he is bet.n, a $2.5 billion the nature of the bet is quite u.s. centered. lowe's, berkshire hathaway, starbucks. the argument at the core here is these companies are fundamentally torn apart in valuation, that cash flow will return. he no longer has the short position. what's interesting, when you lo minard, pre the fed announcement he said that bottom fishing is the most rldensive sport in the woi and went on to expand, may be capitulation had not happened. when you look at the different views, it is about what the fed is doing. is it radical? is it innovative? perhaps the answer would be no, it is not, but when you look at the debate it is this. waking up this morning, we have the fed narrative but also the political procrastination and prevarication on the fiscal side, and weigh that against the other aspect, the narrative coming from the u.s. podi

manus: when i look at markets, 10 year treasuries are at a 30 year low.ity markets are only just slightly shaking. are equity markets underpricing those kind of numbers you just pointed out? axel: they definitely at a underpricing downside risk. at the moment, they look at this as sharp decline, sharp, v-shaped recovery, and we are done. that is not going to be the case. nejra: that was ubs chairman axel weber speaking before the sharp downturn in global equities at the start of the trading week. up next, more conversations about coronavirus as the outbreak spreads and the markets reel. >> it seems like we have moved from extreme confidence in the in the markets to extreme panic, all in the space of one week. nejra: this is bloomberg. ♪ hi! we're glad you came in, what's on your mind? can you help keep these guys protected online? easy, connect to the xfi gateway. what about internet speeds that keep up with my gaming? let's hook you up with the fastest internet from xfinity. what about wireless data options for the family? of course, you can customize an

manus: they might need the international banks. would they?well, all of those banks were involved in the ipo. they decided in the beginning not to go for the international listing because of many issues. legal issues, compliance issues, -- manus: what's in it down to the fact that they didn't hear the valuations? anthony: that is the big thing. there are those roadblocks. the big thing was the valuation. those banks did the groundwork, they will have to do more groundwork, but they have to be ready in case the saudi crown prince decides, "all right, let's do it." ♪ haidi: don't forget, bloomberg subscribers can run the function vis u.s. on their terminals. see our landing page for the coronavirus outbreak. they, you find our headlines from the bloomberg news room, numbers from the cdc, and analysis on the companies affected. nejra: there are about 30,000 functions on the bloomberg. we always enjoy showing you are -- we always enjoy showing you our favorites on bloomberg television. maybe they will become your favorites. here's another fun

manu, what's the political part of this?ides of the aisle in the house who -- who are not happy with the aspects of this bill threatening to vote against it. how's that going to play out? i mean, will they get in line? and then try to figure this thing out later because a lot of people are hurting and they -- many of them won't get this money until may, right, are they going to get in line on this? >> well, the speaker, nancy pelosi, has been having a series of conference calls with her members over the past -- today -- to tell them essentially, look, this is the best we could get. we fought for what we wanted. and what she's essentially saying to them is that if you don't get what you want in this proposal, there's going to be a phase four proposal. the fourth effort by congress to deal with the fallout of this pandemic. and she is saying, look, you can try to get your provision into that. what she is trying to say is approve this quickly. allow it to approve -- get approved quickly. and then let's focus on the next fight.

joining me to talk about that is manus cranny. manus, good to see you.et's talk about the start of the week in the commodities space. the oil market taking a hit. is there any prospect of that texas opec deal? quickly.at faded itwas a spirited idea and may indeed come back again to life, but if you look at headline after headline, texas might go to vienna, do a deal to output along with russia and opec. it will evolve. it will change. the commodity suffers a low. the e.u. is looking at a recession as bad as 2009. they say the u.s. will then pull -- u.s. will implode by 50%. airlines ravaging their roster and that will hit demand overall but we have done the numbers. that is what we like at bloomberg. the economics team have said it's 54% price destruction due to demand implosion rather than supply. 54%nd demolition has taken of the price destruction to an 18 year low rather than demand. brent collapsed by 20% last week and if you begin to think about the supply, there is an arrogance in some way to the delusion that you can still control a market. which

let's bring in kaitlyn collins and manu raju. >> where are we? >> intense negotiations happening all morning long. secreta secretary mnuchin and meeting with schumer. they have been going back and forth at schumer's office. and talking to the snarts and also mnuchin meeting with some key democratic senators were not at the senate. democrats are concerned of some of the language in the bill namely how to deal with funds that would go to distrust industries and democrats are criticizing that proposal. they're arguing restrictions. >> manu, i am sorry, mitch mcconnell is speaking on the floor of the senate. >> to our healthcare heroes and american workers and families. democrats and republicans sat down together, we crafted this version of a proposal together. this compromise package will push tens of billions of dollars to hospitals to healthcare providers. it will send a direct check to millions of american households. >> it would stabilize industries to prevent mass lay-offs. it would deliver historically to small businesses to help main street e

i cannot tell you what it takes getting sergio ermotti test sergio ermotti and manus cranny -- sergious cranny. ,om keene and francine lacqua everyone focused on 8:30 and a historic jobs number. with us, david kelly of jp morgan. how will the financials do? one of the great debates is people saying, -- i don't want you to talk to jp morgan other than mr. dimon has good health -- but how should the financials do? david: they will be well-positioned. this will be attempts by governments to give grants to businesses as opposed to strong-arming banks into lending them, that should help the banks. well-capitalized and have suspended buybacks. if you look at dividend payments , dividend payout ratios are low so they can keep paying dividends for long time even in a down market. we have a little bit of a slope in the yield curve, not much at eight basis points. i think that will steepen up. i think the financial sector along with the health care sector and utility sector should do well in this in relative terms. it is not the epicenter like it was the last time around. francine: there were c

manu raju for senior congressional correspondent for cnn.nd susan beige, -- page, from "usa today." is it seen as a full sution for this economic trouble or just a band-aid? >> it's noteen as a fullti so, but it is seeas a good solid first step. you saw the market respo very favorably this week, although we were down today but in in anticipation of this bill, we saw a big rally. investors look that as a very good step. but they acknowledge they're going to have to see more. and you heard that froml congressio leaders. it's a $24 trillion economy. this is a $2 trillion bill. the economy has gone something ose to zero. when you see these unemployment claims, 3.3pl million p applied for unemployment this week. that's the biggest ever, and the previous record was in 1982. we a way past that. we're in uncharted territories and congresss beginning to get its arms around the size that it'sealing with here. robert: manu, how close was the congressman of kentucky to scuttling this entire bill? >> well, he was close to delaying this a little bit furth

manu raju joins us with more details on this. they passed it, manu. >> they did. the vote is not final yet. once they call the vote, there will be an additional total. the amount is 95-0. there are members who are missing, some who are in quarantine like mitt romney of utah, like rand paul of connecticut who tested positive for the coronavirus. also john thune, the number two republican announce who'd miss the vote. >> why would he say 100-zero then? >> i think he was saying that because he was trying to convey especially this is unanimous at the moment. there are some answer tease. so when the gavel comes down, we'll get the official total. and right now it's 95-0, which is still remarkable given how polarized this chamber is, how polarized washington is and the country. and particularly if the aftermath of this debate a couple of days ago on the senate floor. some of the most tense moments occurred with republicans accusing democrats of acting reckle recklessly. democrats accusing republicans of pushing forward a proposal tilted towards corporations. it got very

. >> manu raju, what's the mood up there? the house when home and the speaker is prepared to bring it back when necessary to do something. how can the congress act on what is a sweeping end and the president says we'll do with the cost later but an expensive proposal. >> it is going to take a lot to get it done quickly especially a lot of members and a lot of ideas exactly of what needs to be done. the treasure secretary is briefing republicans senators in the room behind me. they're moving to a bigger room to deal with social distancing of senators and they'll have to sit right next to each other shoulder to shoulder as they do for their two da-day lunches. mnuchin putting forward of this plan including the rescue package for airlines and hotel industries and direct payments to u.s. consumers, the house and the senate and democrats have their own proposal.

manu raju joins us on capitol hill. two recently had contact with the president. >> reporter: that's right. and right now members of the house democratic caucus are learning about what they should do if they were to come in contact with any individual who could have the coronavirus, if they're ex poetposed in any way. the capitol physician are briefing house democratic members of exactly the steps that should be taken. in addition also, other house authorities about what should happen here. what's very clear is that members of congress are bracing for this having a significant impact on their own operations, either forcing their aides to quarantine, forcing members or the staff to work from home, telecommute, and how that process would continue to play out. that has been discussed for some time, but now it is beginning to become more real in the aftermath of several members of congress announcing they would quarantine themselves, and the indication that this virus could certainly become more spreading,

manu raju there on the line from d.c. we appreciate it. thank you. >> reporter: thank you. >> and there is word from the treasury secretary. we'll go live to tokyo in a moment. but steve mnuchin has said that the president, donald trump, will sign this stimulus package as soon as it reaches his desk. let's get a take here. kaori enjoji is there where the markets have been driven on emotion for weeks. selling on fear. are they buying now on hope? >> reporter: absolutely. news the congress has reached this deal for a $2 trillion package, bailout package-s sending tokyo stocks sharply higher, closing the day as the news came in minutes before the close. more than 8%, to its highest close in more than two weeks. we're seeing gains across the board for asian stocks as well. dow futures, which were in negative territory before the bill, has gone into positive territory. optimism that the deal has been passed and also expectations the small and medium size businesses that have been very hurt by the coronavirus and the business shutdowns might see

investors and clients are we go to manus cranny.rs managing the situation come in an effective way. we do see people taking opportunities. come our point of view, if you look historically from risk rewards point of view, there is not many times where credit has been made constructively, and we see people taking advantage of that. but also i have to say that many clients have been very disciplined in speaking to their long-term asset allocations. to doill reevaluate how are preparing wide opportunities there. with stocks or situations or sectors particularly impacted. i see also clients starting to take opportunities and step in, buying some opportunities. to: we are also trying understand work -- manus: we are also trying to understand where we are in the bank and the bank system. mustier saying -- is that a narrative, sergio, that makes sense on your assessment? set aou look at ms. ta letter? sergio: it is difficult for me to comment, but i would say i think it is quite legitimate and understandable to have such a debate at this po

we've got manu raju, also sanjay gupta. manu, first to you. if you hear from the senate majority leader that you're close, it sounds like we're close. >> reporter: yeah, all signs are pointing to a deal that could be approved just in a matter of hours. you're hearing from all the leaders, the people involved in these talks, signalling they are essentially there. steve mnuchin, when he came into the capitol this morning, he told a group of us that he does expect this deal could get approved today. he spoke to the president twice, they want to close out the deal today. mark ccummings, the incoming chief of staff, said he and mnuchin would be on the phone today as they explain what's in this deal. nancy pelosi indicated she would move the senate bill in the house and try to push it so it gets approved with unanimous consent. assuming republicans are in line, that would not require her chamber to come back into town. and mitch mcconnell, we have not explicitly heard from him in the talks, saying they're on the 5-yard line, about to close a deal. t

manus: a very good day to you.got arancha gonzalez laya joining me now, spain's foreign minister. minister gonzales, good day to you. you may promised spain well be able to reopen by april 11. are you really confident that dateis still a respected for you to reopen spain? minister gonzalez: what we have said is we need the current state of alarm to last a few more weeks. 12, andes us to april we are evaluating the situation on a day by day. what we know is the current situation, 47 million spaniards in their homes to avoid physical contact and through that, to avoid the spread of the virus is our top objective. it is the top objective of 140 million spaniards. on april 12, we will see where we are. the most important thing is our conviction and our unity in addressing the health of this pandemic. a reachhen you look at for masks and gloves and downs around the world, do you see a responseurope in its on the health front, minister, or do we need a unified health care defense protection act for europe? what we haveal

manu, thank you so much. where do things stand now? >> well, there are intense negotiations that have been happening all day long into the late hours. that's actually been going on for several days. really, since this past friday. every single night going late into the night and right now, in chuck schumer's office, treasury secretary steven mnuchin and top white house aide are meeting with schumer for the fifth time today. they have been going back and forth over proposals. trying to narrow down their differences. euland and mnuchin have met multiple times with mitch mcconnell as well. they have been trying to sort out all of those differences and both sides are signaling that could be a deal as soon as tonight. mnuchin told reporters earlier this evening they were trying to close it out. and chuck schumer said they are pushing forward as well. and this came, don, in the day of high tension on capitol hill. both sides are pushing to get this done but these handful of differences have left the two sides, republicans and democrats, at w

manus cranny posed that question to ubs ceo sergio ermotti.e going to come back to that in a couple of moments, but first, our stock of the hour. for that, we go to dave wilson. dave: micron technologies came out with fiscal second-quarter results, the quarter ending in february. the effects of the coronavirus to some extent limited to asia in terms of their results, but they did see some pluses. , smartphones,s consumer-electronics, and chip demand for those products were down. if you look at earnings and revenue, they were down as well, but not as much as analysts were looking for in the bloomberg survey. they saw more demand for gaming consoles, the -- gaming consoles, notebook computers, and especially chips used in data center technology. as far as the fiscal third quarter goes, their earnings and is justprojections ahead of analyst average estimates, so that was definitely taken as a positive for memory chip demand. they are looking at a return to revenue growth this quarter. earnings will be down, but if you look at the analysts, they a

manus cranny in vienna.back with him tomorrow and following every opec move between now and then. for more on the markets, let's bring in bloombergs dave wilson. it is important to have a look at what has really been going on all week. we have a huge amount of volatility that continues today. it is important to not get complacent. where our markets and what is the consensus view? dave: you have a market that has come off its lows, but you talk about volatility. this week's percentage moves in the s&p 500 on a daily basis. take out the down so it is not an absolute level. you've not seen volatility like we have seen this week since december 2008, the middle of a bear market. it just goes to show you how difficult it is for people to try to figure out what the appropriate prices are for stocks as the coronavirus spreads, as the democratic presidential primary process works its way out, people exit and you get endorsements. there are a lot of moving parts. it is really showing up in the day-to-day fluctuations.

tambiÉn manu.nmigrante. para intentar despejar conversamos esta maÑana en "despierta amÉrica" con el abogado de inmigraciÓn ezequiel hernÁndez que nos acompaÑa en vivo desde phoenix en arizona. buenos dÍas, abogado. abogado: buenos dÍas. satcha: como con las preguntas que nos envÍan a travÉs de las redes sociales nuestros televidentes. "tenÍa que venir el 19 de marzo, pero todos los vuelos se cancelaron en ecuador. cuÁntos meses tiene mi madre para venir a estados unidos luego de ser aprobada su residencia?". abogado: correcto. esto fue el proceso consular donde obtiene la entrevista su madre y tienes seis meses despuÉs que le da la estampa de su pasaporte para poder entrar. el departamento de estado cerrÓ todas las operaciones y tambiÉn los vuelos, pero sÍ van a respetar el hecho de que este paro, tal vez, no le dÉ la oportunidad a esta madre del televidente de no entrar, pero todavÍa tiene seis meses para poder entrar. satcha: ahora bien, mateo quiere la respuesta la siguiente interrogante: quÉ p

cnn's manu raju is on capitol hill.anu, as you noted on twitter a couple of minutes ago, it's about 4 1/2 hours since democratic leader chuck schumer said they had this deal on the two-yard line. are they going to get it across into the end zone? >> reporter: it depends on which team is playing, i guess. what we're talking about here is the art of legislation or sausage-making on capitol hill. what's happening is that the two sides have agreed conceptually on some of the outstanding issues. now they're going back and forth about drafting the actual legislative language to implement their agreements. one side is shown the legislative language, they may want some changes. given the significance and sweep of this poroposal, roughly $2 trillion affecting so many industries, companies, individuals, people hurt by this economic crisis, so much at stake and so many people impacted, it is taking some time to get all of the pieces in line and getting all the players to sign off. and this will also only be conducted, the negotiat

manu, what's the figure?reporter: we're learning from a source familiar with the matter with the white house and treasury secretary are pitching is a stimulus plan that could be in the ballpark of about a trillion dollars. that's what the total price tag is what i am total from a source familiar with what they are looking at. right now the treasury secretary is meeting with republican senators behind closed doors about the eye-popping number to provide a jolt to the economy amid the concerns that the country could slip into a recession. earlier today the world had come out it would be about $850 billion would be this package, but after budget crunchers look at the figure closer, the total plan i'm told is about a trillion dollars right now. what it would encompass is about $250 billion worth of checks going in the form of payments to americans. that would go out over the course of time. if they needed more money, they would do that later, but also aid to key industry sectors, like the airlines, as well as the

manu raju, cnn, capitol hill. >> manu, thank you for that. hours after the president signed the bill he then issued a statement saying that the administration would not comply with one of the provisions. one involving oversight. >> kristen holmes is there. we had an economist on earlier that said oversight is imperative here because this is a bill where there could be ripe indicators of fraud or misuse. what reason is the president giving to dismiss the oversight portion of this? >> well, that's right, christi, keep this in mind, democrats certainly think this is a critical part of this bill. it's a safe guard they put in place in order to get democrats to agree to the $500 billion portion of the corporate bailout fund. essentially it legally gave the inspector general, the right, when he was auditing or reviewing anything coming out of that fund in terms of investments or loans, that they could demand answers and information from any agency including the treasury. then if they got information, they could pass it on to congress. especially pr

let's go to vienna and join bloomberg's manus cranny, who is covering what is happening for us.hat can you tell us? we are using the headline that we are on the verge of collapse. about an hour ago, preparedness for the russians to walk away. the risk to the market is that as opec+ potentially disintegrates, and we have said that the talks are at the point of breakdown, take your mind back to 2014. that is the last time that opec did not manage to agree a deal to bring be marketed to check. we are down nearly 1%. that is down on the possibility, so if there is no deal, the market collapsed by another 10% back then. the analysis is as follows. russia walks through this door, the first question is how much are you going to pump. how much more oil are you going to pump? are the discussions over? will you have another discussion with your buddies here at opec? that is question one. is the opec+ legendary marriage over? is, ok,second question how much of a crash are you prepared to take on? what are you prepared to do as opec, i.e. saudi arabia, kuwait, the united arab emirates, nige

manu: tenemos que hablar. ramÓn: prohÍben los desalojos, aprueban una moratoria que prohÍbe dejar sin casa a quÉ no pueda pagar por la crisis del coronavirus. para calificar se requieren varios requisitos. >> expertos en salud advierten que no hay cura y recomiendan seguir las indicaciones de su. "noticias univisiÓn 14" regresa ya. quÉ tal?, le saluda ramÓn adame. vamos a comenzar. la casa blanca ayuda a superar los estragos de la pandemia del coronavirus. ahora la ley deberÁ pasar ambas cÁmaras del congreso donde se espera una posible y rÁpida aprobaciÓn. vamos a iniciar el noticiero con las cifras de casos y recesos de nuestra regiÓn y a travÉs del estado de california. Éstas estadÍsticas no son precisamente para alarmar, sino simplemente para tener una idea mÁs clara sobre el magnitud del problema. tambiÉn hay que tener cuenta de llamado distanciamiento social. la cifra de muertos reportados hasta el momento asciende a 22. la crisis del coronavirus ha impactado la condiciÓn econÓmica de miles de familias al

manu raju is on capitol hill. start with republicans. what are the issues with what democrats want in the bill. >> reporter: republicans are saying that the democrats are asking for a whole host of issues that have nothing to do with fighting the coronavirus. they're saying it is a big push for increased collective bargaining rights for unions and arguing there is a big push for a higher emission standards for airlines. one of the hardest hit sectors and expected to get a big loan from this proposal under discussion right now. and an expansion of wind and solar credits. now democrats on the other hand are pointing to things that the republicans are pushing that they believe are unnecessary and they're talking about how the money that would be sent out to industries, 400 or $500 billion will be structured and whether or not it would ensure that workers in particular could keep their job, for one instance they said the language provided to the industries said that the companies, if they do get the federal loans, they must keep their employ

manu: habla gus. necesito que me digas exactamente lo que pasó. >> [grita] presentador: el departamento de integraciÓn voces proyecto que apÁtica el tratamiento social, depura hasta los 1000 muertes atacara para el mes de junio. la autorÍdades de salud no es duro en acuerdos con esta proyecciÓn. ya que segÚn el 56% estarÍa compensada, por otra parte el gobernador aprobÓ hoy una moratoria la cual prohÍbe desalojos hay vinos que no fue la forma rezar no cuesta mÁs que la orden estatal. maria: el gobernador dio una notoria desalojos para inquilinos que no pueda pagar la renta debido al coronavirus. sin embargo algunas organizaciuones que defienden a los que rentan no estar de acuerdo con esto. para los inquilinos hasta mayores ayunos no habrÁ desalojos por no poder pagar debido al coronavirus. para las entidades que defienden que rentan, dicen que eso no es suficiente. la orden ejecutiva r-- hasta el tiempo de pago hasta por dos meses, pero eventualmente deberÁ pagarse. esta orden ejecutiva hace varios d

méxico puede perdernos pero nosotros... no te podemos perder a ti, manu.paula: aprueban la medida para que los afectadospor el coronavirus no se han de la -- sean desalojados. 140 pasajeros permanecerÁn en cuarentena. "noticias univisiÓn 14" comienza ya. los saluda paola berrueta. ramÓn: y ramón adame. vamos a comenzar con lo relacionado al coronavirus. una nueva muerte en el estado. paula: en san josÉ se aprobÓ una ordenanza que evitarÍa desalojos para las personas que no puedan pagar la renta. marÍa antonieta mejía nos acompaÑa con la informaciÓn. >> el coronavirus causa estragos en la salud de muchas personas y es posible que afecte la economÍa familiar. se aprobÓ una medida que puede favorecer a los que no puedan pagar el alquiler. el consejo de san josÉ aprobÓ una moratoria que estarÁ vigente para evitar que personas que no pueden pagar la renta debido el coronavirus sean desalojadas. >> queremos asegurarnos que gente que se enferma o tal vez trabaja en un restaurante si no tiene sueldo o si su hijo estÁ la escuela, tiene que dejar el trabajo, van a t

thank you, manu, on all those fronts. we appreciate it. joining me now is dr. saj dr. saja hathi, resident physician at massachusetts general hospital. thank you for being with us. >> poppy, it is good to be here. >> so, for anyone who is watching earlier this week, they heard your mentor dr. celine gounder talk about what you had been experiencing and telling her. that's why we wanted to have you on. you're on the front lines. so thank you for being there, thank you for what you and all the doctors and nurses and hospital staff are doing. what are you seeing, because we hear all the anecdotes, supplies are low, people are making their own masks, the cdc guidelines have lessened so they say if you don't have a mask, put a bandanna around your face. what are you actually having to do every day? >> yeah, so, poppy, we see photos coming from china, italy, singapore, healthcare workers, fully clothed in hazmat suits and we think it is the reality here, but it is not. hospitals across the country are rapidly running out of masks, gowns, protective eyewear they desperately n

england win did a little but their recovery came in the form of manu tuilagi. few minutes were anything but, england had to do it without manu tuilagi after he was sent off, and wales made the most of the numbers, with a couple of late tries, but that could not quite get them close enough. and so for wales a third consecutive defeat, england take the triple crown and keep alive their hopes of winning this year's six nations but it isa winning this year's six nations but it is a tournament that faces an uncertain conclusion, and i want is quite sure how and indeed when it is actually going to end —— no one is quite sure. adam wild, bbc news, at twickenham. there was a double victory for england over wales today when the women's side thumped them 66—7 in front of a record crowd at the twickenham stoop. poppy cleall scored a hat trick of tries to seal the triple crown. but a second successive six nations grand slam for england will depend on when and if they play their final fixture against italy. match of the day follows the news so if you want to wait for them t

brianna. >> manu and julia, thank you so much. new york state is beginning drug trials to fight the deadly coronavirus, what the results could mean for the rest of america. an ice skating rinks become a morgue ship. just between us, cleaning with a mop and bucket is such a hassle. well i switched to swiffer wet jet and it's awesome. it's an all-in-one that absorbs dirt and grime deep inside. and it helps prevent streaks and haze. stop cleaning. start swiffering >>> happening right now in new york, drug trials are underway to treat coronavirus. the drugs being tested today come with their own set of controversie controversies. one of them is tauted by the president but not necessarily by scientist. andrew cuomo addressed this issue a short time ago. >> we are also trying all the new drugs, therapies and hydro-colhloroquine which the president talks about and we are starting that today. the president is accelerating that to come to new york. >> elizabeth cohen is here with us. tell us where we are. when they tried it on 20 patients

our manu raju have been following this on capitol hill. the vote was originally supposed to be held right now. tell us the holdup? >> democratic leader schumer and mnuchin o f the treasury, they have been talking and had intensive discussions all morning long. mark warner of virginia, tells me they are making progress in their talks. they are unlikely to reach a deal boo i the time the senate does try to cap the procedural vote to advance the bill around 1:30 p.m. because they're saying they want more time to negotiate according to chuck schumer, the senator democratic leader are, quote, "very close to a deal." this could provide assistance where numbers of people are struggling and industries and small businesses and airlines. they were having a number of disagreements of how some of that language to be structured particularly money going into industries and whether or not the secretary should have as much power determining who gets that money or not. those are the types of d discussions that's been having intensively over the past days.

his teammate manu tuilagi was given a 4 week ban for a dangerous tackle. has escaped punishment. that's all from sportsday. arsenal have confirmed their head coach mikel arteta has tested positive for coronavirus. more reaction from that on the bbc sport website. stay with us. coming up in a moment, the papers. hello and welcome to look ahead at what the papers are going to be us tomorrow. many of the front pages are in. let's have a quick look. in the metro, we are going to lose many more loved ones. the paper quotes the prime minister as he sets out new plans for the coronavirus. in the guardian, many more families will lose loved ones. johnson called the outbreak the worst public health crisis into generation. the independent, up to 10,000 infected by the pm calls for an immediate set down for public events.

manus cranny joining us from -- from dubai. manus: good morning to you. survival of the fittest.t, you haveabout had the panic selling, what do you have now? if you look at financial conditions, the tightest since this so have a look at chart from state street. it is their systemic risk indicator. i was quite shocked. risklked about systemic still being at a record. we talk about stimulus packages. we talk about 50 billion possibly to come from germany. the reality is that has been a huge amount of stimulus and a huge dislocation in what we call systemic risk. a value trap potentially because this risk is real. it reaches the record. they remain incredibly fragile. you have had a rebound. the third-best rebound since 1945. but you saw this before in 1987. there was a magnificent rebound after the crash. post lehmans, a major rebound as well. the question is about the veracity of this rebound and systemic issues remain. part of the question we will put to our guests. thank you so much for joining us, especially when you consider the fact that after lehman it took until march 2009