tom: seema shah, thank you so much. really interesting conversation, setting up the economics and the mystery of labor. joblessmerican weekly claims. we will see that at 8:30 this morning. and what follows, michael wilson will join us from morgan stanley. this is a timely conversation. wilson has been dead on about the advance of the stock market. stay with us. from london, from new york, this is bloomberg. ♪ tom: bloomberg surveillance, from new york, from london. anna edwards in for francine bit more thison a morning. seema shah, we are thrilled that she could be with us because of the coordinated tensions in the market, looking at the economy, the pandemic, and trying to reach that bridge in the road, whatever you want to call it come out to 2021. it is a great metaphor, the bridge out to 2021. how are the foundations of the bridge right now? can we get there in one piece? seema: i think it is going to be difficult. there are encouraging signs around the world. europe dealt with is really well. what has been interest

with us is seema shah. es brilliant notes, extending out the opportunities and with some caution. there is the august of our discontent. how rocky will august be? seema: great to be with you. i think it will be really rocky. i asked my colleague went to summer,? it does not seem like it is coming. you have the coronavirus cases and then speculation about what the fed will be doing. tom: the august of all memories is 1998. i remember on the beach the smell of the sweat, it was not the beach, it was outright fear. eelede financial system st for this gdp plunged? with less leverage than we have seen another crises? seema: i think the gdp plunged, i do not think the markets have right to do much. -- ranked it too much. our concern is momentum has already started to plateau. the high-frequency data is worrying. whatever worry- we have about monetary policy and fiscal policy, it is tied into the health crisis. until we can find a way of breaking the connection between mobility and cases, i think we will be in a to

but at northwestern's lurie children's hospital in chicago, bioethicist seema shah urges careful considerationto not let need dictate speed. if all these people are willing to volunteer, understanding this could be a risk to their lives, why not let them? >> it's not enough for people to step up and say, this might work so i think it would be, i'm willing to do it. willing to take the risk. although challenge studies are really promising and powerful ways to learn about diseases, they can pose significant risk. so it's really important to make sure that doing a challenge study is worth the amount of risk it would involve and that it will make a difference. >> for "matter of fact." >> coming up, a family knocked down but not out thanks to a commun soledad: sometimes when our correspondence visit a city, they come across a story they were not looking for but strikes as important to tell, and that is what happened recently in detroit. while working on a story about the measured steps the city, once a covid hotspot, was taking to reopen, our correspondent jessica gomez met a family like so many fa