i want to pick up where steve schwarzman left off.ave to think about buying leverage loans, junk bonds, commercial mortgage-backed securities. they may not want to come about they may have to start ticking about it. what do you think? julia: this is a tricky line for the fed. they are not here to save every investor from every loss. there certainly were a lot of leverage loans. they were concerned about the quality before all of this started. they don't want to completely eliminate all discipline and capital markets. they are more focused on getting cash to consumers, getting cash to the high-grade an investment-grade companies. i think that is not going to be on the front burner for them in terms of getting to the junk bond market. alix: it does raise the question, where are the holes that the fed needs to plug? we saw them backstopping the banks. where are the other holes they need to get into? julia: the other active margins are the main street companies. that is a mandate from congress. they've got to get that up and running. they

taylor: that was steve schwarzman, the blackstone chairman and ceo. i want to bring you some other headlines, this time from new jersey. new jersey reporting it has also seen the biggest one-date increase in coronavirus deaths. that echoes comments from new york governor andrew cuomo when he said new infections had dropped for the third straight day but the daily death toll climbed to a new high. new jersey coming out, matching that tone we have seen. new jersey reporting the biggest one-day increase in coronavirus deaths. it's get a check on bloomberg first word news. mark crumpton has more. mark: president trump is criticizing global health officials. on twitter today, he said the world health organization blew it on the coronavirus outbreak and was wrong to advise against travel restrictions he imposed on china. the president also called the international body "very china centric." british prime minister boris johnson is still in intensive care, receiving auctions and to help him breathe. the prime minister is battling the coronavirus as his countr

blackstone chairman and ceo steve schwarzman.ng businesses will be offering a relief package of more than 30 billion hong kong dollars, this is according to the south china morning post. this a portion of the $30 billion package to be unveiled today will be used to cover salaries of workers at risk of losing their jobs. here in the u.s., president trump and house speaker nancy pelosi also have both been talking about the next round of stimulus. one group that will want to say what is and what is not in the process, the advocacy group has been vocal about the first $2 trillion program. david mcintosh is president of the club and joins us on the line. great to have you with us. we have already heard from the president speaking today that he's asking congress for an additional $250 billion for relief loans. already the costliest relief package in u.s. history, swelling the deficit, adding to the national debt. what do you make of the recent measures? david: yes. basically, we put out a paper as they were working on this in congress

the s&p is up 6.1% every sector is higher zblncht coming up, steve schwarzman and blackstone's pledge to help health care workers in new york. that's straight ahead. don't get mad. get e*trade, dawg. aand we're here for you -ry day fespecially now,rs. doing everything possible to keep you connected. through the resilience of our network and people... we can keep learning, keep sharing, keep watching, and most of all, keep together. it's the job we've always done... it is the job we will always do. >>> indexes at their highs today. dow rallying over 1300 points. all the major indexes up 6% on the session. >> yeah, down almost 22% now from the high. which is a lot better than where we were a week or so ago this is the last commercial we are going to take before we take you into the close up next, uninterrupted coverage of the final minutes of trade when we go inside the market zone and you can always watch or listen to us live on the go on the cnbc app we'll be right back. our retirement plan with voya gives us confidence. yeah, they help us with achievable steps along the way... ...so

he picks up the phone and i said i am steve schwarzman from , avington high school in pennsylvania.m on the waiting list. i would really like to go to harvard. why don't you take me off the waiting list? he said, how in the world did you get through to me? he said you are not allowed to , talk to me. i don't talk to applicants. i said, but we are talking. he said yes. , you sound like a very nice young man, but unfortunately, we are not going to be taking anyone from the waiting list this year. our yield was higher than we thought. where else were you accepted? i said, i was accepted at yale. he said you will have a very , good time at yale, and you will enjoy it. i said i am sure that i would but that was not my objective for the phone call. he said, i understand that. i am just so sorry. david: did you ever see him? steve: ironically, it is really a great story. the ceo of mackenzie was in my office 25 years later. he was on the harvard corporation. i told him the story. he asked what year. that dean of admissions was a close friend of his. he said, do you mind if i told him that

we speak to steve schwarzman, ceo of blackstone, who just donated to new york, to get his take on theloomberg daybreak: americas." i'm alix steel. we have a two day rally underway. who would've thought? overall, you are looking at the two day rally for the s&p, looking at a dollar finally rolling over. you still see the bear steepener happening in the treasury market. more of a selling coming back on the long end. ud

powder,reat deal of dry that was blackstone ceo steve schwarzman.in niblett of chatham house. this is bloomberg. ♪ i think it is absolutely key that the recovery of europe will be great activity. we have to organize together and as anyone knows, it is possible to do this within the framework we already have. fromna: you just heard german finance minister olaf schultz. let's get your bloomberg first word news. can weathere e.u. the economic storm unscathed, afterers failing to agree a 16 hour emergency teleconference. the stumbling block, whether to issue joint debt to help economies recover. donald trump is speaking about returning americans to work, telling fox news he is looking at concepts of opening areas of the country. this involves testing more americans than has been possible. hotspots like new york and detroit would remain shuttered. a massive exodus from wuhan as the city reopens. at least 56,000 people have tickets out. seven weeks ago, china imposing a lockdown on the city. we end in spain where the numbers went up again. toll andavirus

steve schwarzman said our own gdp suffered a $5 trillion cut. that's almost a quarter of our gdp.hina is messaging, a media i follow every day. they are basically saying they are number one in the world now. if they don't want to be hand over the history of what happened in with you land. they won't't do it. theyca make jokes le american senators and congressmen who go on television and make a resolution to block china but they don't get any sponsors. the chinese attitude, they have a strong lobby in washington. when rex tillerson was secretary of state the first year, liz, he renewed all of our almost 100 scientific exchange programs with china.ie we could have canceled those or held them at risk. we could have pulled out of the world health organization. but the chinese don't see it. you have to have strong pressure applied to them before they will provide viruses in the history of the growth of this virus and where it came from. liz: the world cannot get hit by another viral pandemic out of china. dr. darling said the chinese most certainly know. they are operating at boy oh sa

the company is trying to preserve cash for the dividend, the stock rising premarket we heard steve schwarzmans earlier, saying the price of oil up, up you 5 1/4% he to a expecting production cut agreement between saidid and russians the latest on coronavirus, u.s. reporting more than 10,000 deaths from this virus, so far. there are more than 368,000 confirmed cases in the united states. britch prime minister boris johnson stayed in stable condition this morning being moved to icu in intensive care. when coronavirus symptom worsened they moved him to icu spokesperson for prime minister says he remains in good spirits, johnson receiving oxygen but he is not on a ventilator. he was diagnosed with virus 10 days ago update is expected today coming out of uk, foreign secretary dominick is taking over for johnson as needed, on a temporary basis. the number new coronavirus cases deaths slowing down in new york, a sign the state could be hitting apex, this is us a good news, point, governor andrew cuomo warns fight it far from over telling residents keep practicing the social distancing, and follow gu