rick reider from blackrock. don't go anywhere, nancy lazaro is up ta-da!id you know liberty mutual customizes your car insurance so you only pay for what you need? i should get a quote. do it. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ ♪ maria: welcome back. the u.s. economy saw its worst decline ever this past week as the gdp shrank nearly 33% in the second quarter. we were expecting a contraction, but 33% was obviously so sharp. while a rebound is expected in the second half, how will the recent virus spikes affect the recovery? let's get into it with cornerstone macro co-founder, nancy lazar. thank you for being with me this weekend. >> nice to see you too. maria: i'm looking at your recent report where you say there is significant downside risk to the july payrolls. give me your assessment of the gdp this week, and tell me why you are expecting downside risk in the upcoming jobs report. >> well, the gdp report for the second quarter, thank goodness, was old news. since then we have clearly see a rebound in economic activity, ma

rick reider from blackrock. don't go anywhere, nancy lazaro is up hey, can i...old on one second... sure. okay... okay! safe drivers save 40%!!! guys! guys! check it out. safe drivers save 40%!!! safe drivers save 40%! safe drivers save 40%!!! that's safe drivers save 40%. it is, that's safe drivers save 40%. - he's right there. - it's him! he's here. he's right here. - hi! - hi. hey! - that's totally him. - it's him! that's totally the guy. safe drivers do save 40%. click or call for a quote today. in a highly-connected lexus vehicle at the golden opportunity sales event. lease the 2020 es 350 for $359 a month for 36 months. experience amazing at your lexus dealer. ♪ maria: welcome back. the u.s. economy saw its worst decline ever this past week as the gdp shrank nearly 33% in the second quarter. we were expecting a contraction, but 33% was obviously so sharp. while a rebound is expected in the second half, how will the recent virus spikes affect the recovery? let's get into it with cornerstone macro co-founder, nancy lazar. thank you for being with me this week

rick reider from blackrock.on't go anywhere, nancy lazaro is up liberty mutual customizes your car insurance, so you only pay for what you need. i wish i could shake your hand. granted. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ in a highly capable lexus suv. at the golden opportunity sales event. get zero percent financing on all 2020 lexus models. experience amazing at your lexus dealer. (groans) hmph... (food grunting menacingly) when the food you love doesn't love you back, stay smooth and fight heartburn fast with tums smoothies. ♪ tum tum-tum tum tums ♪ maria: welcome back. the u.s. economy saw its worst decline ever this past week as the gdp shrank nearly 33% in the second quarter. we were expecting a contraction, but 33% was obviously so sharp. while a rebound is expected in the second half, how will the recent virus spikes affect the recovery? let's get into it with cornerstone macro co-founder, nancy lazar. thank you for being with me this weekend. >> nice to see you too. maria

rick reider from blackrock.on't go anywhere, nancy lazaro is up we made usaa insurance for veterans like liz and mike. an army family who is always at the ready. so when they got a little surprise... two!? ...they didn't panic. they got a bigger car for their soon-to-be-bigger family. after shopping around for insurance, they called usaa - who helped find the right coverage for them and even some much-needed savings. that was the easy part. usaa insurance is made the way liz and mike need it- easy. 1 in 5 people you meet wear the wayyeah. that many!ed it- but right now, is not the time to talk about it. so when you're ready, search 'my denture care'. poligrip and polident. fixed. fresh. and just between us. ♪ maria: welcome back. the u.s. economy saw its worst decline ever this past week as the gdp shrank nearly 33% in the second quarter. we were expecting a contraction, but 33% was obviously so sharp. while a rebound is expected in the second half, how will the recent virus spikes affect the recovery? let's get

rick reider from blackrock.'t go anywhere, nancy lazaro is up [ thunder rumbles ] [ engine rumbling ] [ beeping ] [ engine revs ] uh, you know there's a 30-minute limit, right? tell that to the rain. [ beeping ] for those who were born to ride, there's progressive. [ beeping ] when you think of a bank, you think of people in a place. but when you have the chase mobile app, your bank can be virtually any place. so, when you get a check... you can deposit it from here. and you can see your transactions and check your balance from here. you can detect suspicious activity on your account from here. and you can pay your friends back from here. so when someone asks you, "where's your bank?" you can tell them: here's my bank. or here's my bank. or, here's my bank. because if you download and use the chase mobile app, your bank is virtually any place. so visit chase.com/mobile. ♪ maria: welcome back. the u.s. economy saw its worst decline ever this past week as the gdp shrank nearly 33% in the second quarter. we were ex

rick reider from blackrock.on't go anywhere, nancy lazaro is up looks like they picked the wrong getaway driver. they're going to be paying for this for a long time. they will, but with accident forgiveness allstate won't raise your rates just because of an accident, even if it's your fault. cut! sonny. was that good? line! the desert never lies. isn't that what i said? no you were talking about allstate and insurance. i just... when i... let's try again. everybody back to one. accident forgiveness from allstate. click or call for a quote today. but what if you could stdo better than that?k. accident forgiveness from allstate. like adapt. discover. deliver. in new ways. to new customers. what if you could come back stronger? faster. better. at comcast business, we want to help you not just bounce back. but bounce forward. that's why we're helping you stay ahead and adapt with a network you can count on, 24/7 support and flexible solutions that work wherever you are. call or go online today. my age-related macula

rick reider from blackrock. don't go anywhere, nancy lazaro is up discomfort back there?tead of using aloe, or baby wipes, or powders. try the cooling, soothing relief of preparation h. because your derriere deserves expert care. try new soothing relief. but what if you could stdo better than that?k. like adapt. discover. deliver. in new ways. to new customers. what if you could come back stronger? faster. better. at comcast business, we want to help you not just bounce back. but bounce forward. that's why we're helping you stay ahead and adapt with a network , unt /7 suppo a fl ex solleiout atthor t. llcar go ocar in oto o o guys! guys! safe drivers save 40%!!! safe drivers save 40%! safe drivers save 40%!!! that's safe drivers save 40%. it is, that's safe drivers save 40%. - he's right there. - it's him! safe drivers do save 40%. click or call for a quote today. ♪ maria: welcome back. the u.s. economy saw its worst decline ever this past week as the gdp shrank nearly 33% in the second quarter. we were expecting a contraction, but 33% was obviously so sharp. while a rebo

coming up in just a few moments, blackrock's global chief investment officer rick reider is here to talkal reserve's decision to keep the interest rates close to zero. later on, cofounder nancy lazar row's here to talk about a what she expects for the second half of 2020, you will be surprised at what

joining us, rick reider from global fixed income and also blackrock oversees $2.4 trillio in assets.e seeing a snapshot today and the last week in the way the market has more about the existence of monetary stimulus than it cares about fiscal stimulus or does the market just think that this fiscal stimulus bill will get done some day soon >> i think it's both i think the markets today are assuming there is going to be some fiscal stimulus exceeding a trillion dollars that's going to come into the system i think the market understand there's is som >>> welcome whaback time for a cnbc update >> hello, everybody. here's what's happening at thi hour of u.s. dirict judge speaking out for the first time since a disgruntled lawyer of she is calling for protections that will help stop others from tracking down and atcking judges >> mson's death cannot be vaine empowered to dsomething to help my brothers and sisters on the bench. now, more than ever, we need to s private. the. >> and in new yo in the 9/11 attacks. the leader of e greek orthodox church gave a blessing with new york's governor

coming up in just a few moments, blackrock's global chief investment officer rick reider is here to talkve's decision to keep the interest rates close to zero. later on, cofounder nancy lazar row's here to talk about a what she expects for the second half of 2020, you will be surprised at what she's saying now.

coming up in just a few moments, blackrock's global chief investment officer rick reider is here to talk lazar row's here to talk about a what she expects for the second half of 2020, you will be surprised at what she's saying now. first, though, let's take a look at some of