jane foley there of rabobank.f you are a terminal user -- and we hope you are -- check out the function tv type tv onto your bloomberg and you can also ask questions to our guests through tom and i. click on the video screen where it says ask the guests a question. go to tv . this is bloomberg. ♪ viviana: you are watching bloomberg surveillance. the photocopier and print or company hp blaming uncertainty stemming from the coronavirus pandemic. hp says the $35 billion offer undervalues a personal computer maker. now to shares of british banks. today they are lower at the urging of regulators, the lenders scrapping dividends and buybacks. the banks are trying to bolster their capital levels as the fallout from the coronavirus deepens. we end with general electric. it finalized a 21 point $4 billion sale of its biofarma business, and that brings in much-needed cash. it also bolsters ceo larry culp's experts -- efforts to chip away at a massive debt load. that is your bloomberg business flash. tom: thank

that is jane foley, rabobank head of fx strategy. let's get the first word news now with viviana hurtado. viviana: president trump insisted he has the absolute power to reopen the country's economy. now he is turning it over to governors and businesses. he issued guidelines for the states to consider, but it will be up to them to relax stay-at-home orders. the guidelines calling for a three stage process based on a downward trajectory in cases. china hasn't had an economic report like this indicates. the coronavirus pushing the country into contraction in the first quarter. gdp shrinking 6.8% from a year ago, the worst performance since at least 1992. the coronavirus has hammered business around the world, so china will have to rely on fragile domestic demand. spain reporting more than 5200 new cases of coronavirus, the most in a week. spain has the world's second most extensive outbreak. authorities saying the country is already past the peak. they are starting to focus on how to relax nationwide restrictions. a wave of gloomy forec

we are joined over the phone by christian lawrence, rabobank rates and fx strategist. -- trading at expected at exactly 100 now. are you a buyer or a seller? christian: i am a buyer at these levels. don't think we have seen the worst of the em selloff, although we are likely to see great differentiation going forward. the dollar, obviously some of comeullish movement has lines for -- the swap repo facilities, which are simply swap lines of currencies you don't trust. i think we will see continued inflows into the u.s.. the bottom line, when we are in this sort of environment, seeing this sort of stretch, everyone still wants dollars. any pullback i think is a buying opportunity rather than the start of a dollar bear market. wheree've got a situation we don't have any coordination in europe. we can't figure out how to get everybody on the same page. italy is looking like it could essentially be in real trouble here when it comes to its debt to gdp ratio at the end of all is this. do i sell the euro on the back of this, or does it not matter? christian: i'm a little bit surprised at quite how