tom was broke. he had gone into several different business ventures, including going over into kentucky and doing some mining work for andrew carnegie, and several other things. and he and another gentleman had gone into business together and opened a store in southwest virginia, mercantile, that was actually doing very well. and this business partner turned out to be a crook. during the wee hours of the night, he went in, had several other people with him, and they stole all the inventory out of the store, all the money out of the cash register, even stole the cash register. so tom lost every penny that he had invested. he was broke. so he and anna liza and eight children moved to south carolina to work at this textile mill. from 1897 to the latter part of 1899, the entire family worked in this building six days a week from sun up to sundown, and tom writes in great detail about what life was like, how tough it was. they had children who were very young, but they swept the floors and everything. th

have you heard from tom?" and he said, "no, but he didn't show up at work. >> reporter: what's going through your mind? is there concern or just, oh, maybe he's at the gym? >> tom would never miss a morning of work. >> reporter: linda jumped in her car to to retrace her husband's steps, hoping to find him. she never imagined that search would lead where it did. >>> coming up, linda's heartbreaking story. >> i saw his car. i was like oh, my god. >> tom kolman had gone to the gym. in fact, he was still there. >> i was like wake up. they're looking for you at work. i was just like, oh, my god, this can't be happening now. >> when "dateline" continues. eni are having a debate. -i have a back rash. -alright. whoa, mara. i laugh like this. [ laughs obnoxiously ] it's just not my scene. -i couldn't help but over-- -do you like insurance? i love insurance. did you know you can save money bundling home and auto with progressive, and renters can bundle, too? i know, right? [ laughs ] [ singing continues ] why'd you stop

just help us, tom, you would now like to be known as captain tom or colonel tom?around the world. brea kfast‘s tim muffett is at bedford school where they are all on display. we've had to have a special walkway builtjust to get in between them. an amazing site. it was over the easter weekend that the first birthday cards arrived and more and more came in the numbers grew and grew and grew, and now take a look at this, more than 125,000 birthday cards for captain or colonel tom. we are in the great hall at bedford school but it's not room for all the cards, some are being stored in other rooms in the school as well. it isa other rooms in the school as well. it is a visual testimony to what a special man captain tom is, and in the village where he lives, the last few days have spelt —— felt extra special. bunting, birthday cards. really excited. and bells. in the village of marston moor tain, captain tom's big day is a big dale —— big deal. captain tom's big day is a big dale -- big deal. we love tom and we just think, wow, we're so he has done this and also that ou

i called tom. i told tom, the door's locked.aid he would call his mom and get back to me. >> reporter: and according to schrauben, tom called back within minutes with a backup plan. >> he told me his mom was going to go out that night and that they needed it to happen tonight because his mom can't take it anymore. he said we didn't do it tonight, his mom was going to do it. >> reporter: they returned that night about 9:00. slub schrauben's story was he dropped his friend off and drove around the neighborhood while his friend snuck inside and stabbed jack jessee to death. >> we had walkie-talkies. afterward he called when he was done and told him to pick him up. so i'm turning to go back. he had a little blood on his legs. we looked for a place to clean himself up. i believe there was a del taco we found, like an outside place. there he went inside to clean himself up. >> the information he provided, if we could corroborate what he said, would blow the case wide open. >> reporter: police questioned schrauben's friend, he denied e

thanks, captain tom. this country is all about, mate. a true hero, an absolute legend. another £45,000 has gone in. and with every well wisher came donations. we caught up with a family on tuesday. it's really interesting with the scope of the english language, we still feel unable to express number one, our thanks to the nation and oui’ one, our thanks to the nation and our pride and i think we are in immensely proud and immensely humbled. captain tom wanted to give a message of hope and positivity for eve ryo ne a message of hope and positivity for everyone staying at home. remember, that things will get better. we have had problems before, we've overcome them and we shall all overcome the same thing again. step by every single step, capt tom is getting ever closer to his 100 lapse stop just two weeks before he turns 100. but, he says, is not going to stop there. i will keep on going, while people are still contributing to the national health service. i love looking at that shot. i'm not sure how anyone

taylor and tom? tom: thank you so much. greatly appreciated.ing up, without question my interview of the day and perhaps yours as well, the vice chairman of the federal reserve system in conversation with our michael mckee and myself. much to talk about including the balance sheet and yes, the many different programs of 2020 and this pandemic. please stay with us. this is bloomberg. ♪ >> when opportunity knocks at the door, don't put your silver pajamas on. >> we're clearly going through some very unusual times and you know, enormous difficulties getting groups of people to agree on thing. francine: in the city of london, taylor: welcome back to bloomberg surveillance. i'm with tom keene in new york. the story of the past month has been massive dollar strengths and funding issues and the subsequent treasure it is putting on emerging market debt and currencies. no person better to bring us rspective than esther law, a portfolio manager. i want to talk about the dollar strengths and some of the funding pressures that are put on your emerging mark

tom etheridge, nice to meet you. >> tom, how are you?> good. >> this is the headquarters for worldwide trailer? >> this is the headquarters. >> did a little research. the product you guys make is good. >> yeah. >> now, how much--how much revenue is your company doing? >> we did 4 million last year. >> and so how much of that actually fell to the bottom line? how much did you make? >> maybe 400,000. >> how many will you make a year? >> about 125 trailers a year. keep in mind, not all trailers are food trailers. even though that's what we specialize in, we'll build emergency command post trailers. we've built mortuary trailers, casket trailers. we're pretty good at what we do, marcus. we've been doing it for a long time. >> who's that? >> that's kita. >> that's kita. that's the shop dog. >> yeah. >> whose dog is that? >> mine. >> it's my dog. >> no. >> [laughs] >> no, that's my dog. >> your dog, his dog? >> no, it's mine. >> oh. >> used to be my dog. >> no, it was ours, and she stays with me. >> oh. >> we were a couple for 20 years, but we

tom? tom: viviana, thanks so much. let's look at equities, bonds, and as i said yesterday, oil, oil, oil. crawlings intermediate back near zero, still a negative statistic moments ago. as francine mentioned, the june contract below 20, plummeting to a recent low of 18.4. emphasize awant to dampening across all asset classes over the next 48 hours with yields coming in, curves flattening, equities obviously off. just one idea, the correlate over to oil. corn having a really difficult go of it. francine? yeah, tom, i do think it in generalk at more broadly, explaining the difference between the may contract and the june contract. those who take physical delivery in the near future of crude may not find storage for those barrels. also looking at pound, we had an interesting call from some of the banks given that the u.k. and e.u. conversations have restarted, but the u.k. keeps saying they will not extend the transition period. we also need to look at pound. 1.2395. tom, let me pick it up and go to someone who has been wa

tom? . tom: thanks so much. let me look at equities, bonds, currencies, commodities, a better day than yesterday, at least for now. a two dollar lift in oil. the market is doing better, they -4% yesterday as well. francine, i want to emphasize, as kit juckes emphasized today at socgen, that we are all waking up first and looking at the em markets. i am not going to go into all the data we look at, but the that emea, francine, is markets are exceptionally fragile. they take a little bit of a breather right now from the currency weakness that we have seen. francine: i am looking at treasuries. they are slipping. looking at brent, it was up as much as 12% as the biggest importer took advantage of a 60% plunge this year to add to stockpiles. this is not an un-significant story. i wanted to show you what i was looking at in pound. pound was increasing to 0.2 percent, tom. tom: it is absolutely extraordinary. what we are seeing in the data today, just looking at the zeitgeist, the compendium we bring in across all the

tom: thank you so much. i believe i heard he has been known as the most interesting man in the allocation world, russ costa rich -- just a rich -- rush -- russ koesterich. we have heard all sorts of tones from bed lately or -- ben laidler's optimism and gloom. half-full or half-empty? you are going to tell me it is half-full. russ: i am going to tell you it is half-full and the keyword is "half." the market has moved quite a bit and that counts off the bottom in march was justified. at that point, we didn't know what the policy response was. people were justifiably afraid of a worse case scenario, which thankfully it looks that we will avoid. the challenge that will become harder from here is we do not know what the future looks like. it is hard for companies to provide guidance and to know what the postcrisis world looks like. tom: ben laidler says don't look at the earnings, look at credit spreads. that is the russ kester is world -- russ koesterich twirled. -- world. russ: the credit is supporting the mar

listen, tom, iam coming back immense gratitude to the nhs. listen, tom, i am coming back to you. get on. i have my ipad, my phone. you are almost there. i am desperately trying to get online again. i‘m just waiting for a bit of again. i‘m just waiting for a bit of a countdown. £500 to go, tom, and you will have reached 5 million. ok, oh, my gosh... ican't you will have reached 5 million. ok, oh, my gosh... i can't see anything... but can you hear me all right, hannah? i can hear you're all right. i think we have found, the english language, as broad and as deep as it is, we can‘t find the words. well, we haven't got there yet. oh, my gosh. i have two phones and ipod. it says [199.276.91, so it is almost there, but this isn‘t refreshing. my gosh. just agony... 0k, refreshing. my gosh. just agony... ok, i'm refreshing. my gosh. just agony... ok, i‘mjust waiting refreshing. my gosh. just agony... ok, i‘m just waiting for my collea g u es ok, i‘m just waiting for my colleagues who have managed to get on. i think they have all crashed now! tom, they are counting it down. they are list

tom: very good. what we are going to do, at the bottom of the hour, michael mckee and i will speak with the vice chairman. we are thrilled that michael darda could join us right now. every second is precious. the arch question is, they are doing all of this and they have to get all of these programs, all of this debt, up to $6 trillion or even more back in the bottle. he wrote in your research note over the weekend that you are optimistic they can do that. how will they affect that process? michael: thanks for having me on. marketswe know that believe that most of these actions, while historic and aggressive, are temporary. as it relates to the lending facilities, they will simply self liquidate at some point. even the asset purchases that the fed has announced as being essentially unlimited, they are still bound to the fed's dual mandate. natures a temporary relate to all of this. you can see that in inflation expectations. they have been moving up and improving. they are not soaring. i think it is

tom? tom: viviana, thank you so much. those oil meetings are crucial today. we will have complete coverage of across the bloomberg world. the equity markets have lifted, you saw that yesterday and friday and monday as well. but a jumble to the data today. i would know. was strength -- i would note dollar strength. what are you seeing in the data? guy: we are going into a long weekend. european equity markets are ,irmly off their session highs hit early on in the day in europe. volume is light relative to the last 30 days, but pretty much on track. you can take a a look at the 100-day average. the treasury in westminster has looked to increase its overdraft at the bank of england. the ways and means story is dominating. basically the u.k. government in need of short-term cash, and this is the way that it works. the 108.ar bid in meeting,ce ministers we are taking a look at crude, isn' the big story today, is that? tom and i are going to start a conversation with deutsche bank's head of global research. towards, first of all, your tolerance for risk -- buy or s

tom: very good. it is time now to really address what is out there in the internet, in the space, frankly, from wall street firms. everybody has an opinion. everybody has a view on growth versus value, large-cap versus small-cap. what to do, where to find the courage to stay in cash or to be in the market. howard ward has decades of experience in looking at the growth of the moment. he is the belly where he considers growth. howard, thrilled you are with us today. can you acquire shares this morning? >> i think you can, tom. this bear market, like all bear markets, ultimately results in a buying opportunity. of course we have had quite a rebound. 3400&p went from almost downto 2191, so down 31 -- 35% and we are down now almost 19%. i would characterize my level of enthusiasm stocks here as a pretty good buy. on the s&p, at 2200 i would say that is a screaming buy. i 2400, that is a strong buy. at 2800, it is still a pretty good buy. you can buy just about anything and look back in nine months and be

captain tom moore.ment of raising more than £30 million for nhs charities by walking laps of his garden. the world war two veteran has been promoted to honorary colonel to mark his centenary and the prime minister recorded a special message, describing him as "a point of light in all our lives". david sillito reports. # happy birthday to you # happy birthday captain tom—daddy—grandpa. .. # happy birthday to you! # i never, ever anticipated ever in my life anything like this. it really is amazing. and i would say to everyone, thank you very much to everyone, wherever you are. captain tom moore. it began as a little challenge on his back garden. 100 laps to try to raise £1000 for nhs charities. and, today, he was being honoured with an raf birthday fly—past, as the total reached £30 million. this is the culmination of an extraordinary few weeks. a celebration of how one man's cheerful determination has inspired people and... raised a huge amount of money. # happy birthday to you... and amongst those celeb

tom: right. suggest herd immunity, which i'm not a fan of that phrase, has disappeared in the last 24 hours. i would suggest folks you wake up in america, france and india extender lockdown. it is a raging debate in america. this afternoon, the cfo of wells fargo. stay with us. this is "bloomberg." ♪ >> we bring you special coverage of all the price action and implications here on bloomberg television. heavy on a coat let's get your -- company thatate a can better compete with global investment banks. duemberg has learned diligence. they're looking at how to structure the deal. now to tesla, it has risen for six straight sessions, capping a 43% gain. the rally was triggered by the electric carmakers first deliver report that came out earlier this month. wedbush says china reduction and demand for tesla pure poised for significant rebound. that is your bloomberg business flash. francine: thank you so much. now we have an exclusive with the chairman of royal bank of scotland. the bank is amongst u.

tom? >> stephanie ramos for us.phanie, thank you. >>> and when we come back, 25 years later, the somber anniversary for the oklahoma city bombing. how the city honored the victims despite stay at home orders. look after yourself, ert, your family, your friends. but know when it comes to your finances, we are here for you. what can i do for you today? we'll take a look at the portfolio and make adjustments. i'm free to chat if you have any more questions. our j.p.morgan advisors are working from home to help guide you through this. for more than 200 years, we've helped our clients navigate historic challenges. and we will get through this one... together. ♪ ♪ if you have moderate to severe psoriasis, little things can become your big moment. that's why there's otezla. otezla is not a cream. it's a pill that treats plaque psoriasis differently. with otezla, 75% clearer skin is achievable. don't use if you're allergic to otezla. it may cause severe diarrhea, nausea, or vomiting. otezla is associated... ...with an incre

tom?y data really quite something today, another lift to the equity markets, yield higher, with curve steepening. dollar resilient, but actually a little bit of the bid. to the emerging markets as well. that is what we have. we have stephen king with those of h is bc -- of hsbc. and another guest that we are thrilled to speak with about the emerging markets, and this huge ambiguity -- which way for the dollar in this april? which way for the dollar come september? stay with us. this is bloomberg. ♪ awesome internet. it's more than just fast. it keeps all your devices running smoothly. with built-in security that protects your kids... ...no matter what they're up to. it protects your info... ...and gives you 24/7 peace of mind... ...that if it's connected, it's protected. even that that pet-camera thingy. [ whines ] can your internet do that? xfinity xfi can because it's... ...simple, easy, awesome. [ barking ] >> banks are about to live the stress test they have been practicing for decades

francine and tom? tom: viviana, thanks very much. we look at currency bonds and oil. there's a better risk on feel today. the bond market a little bit higher yields, a little bit steeper yield curve. and of course futures bounce off the grimness we saw yesterday. none of that matter. recalibrating oil to early march or april of 1986, the first collapse that we saw in opec i've got on the bloomberg terminal here. this is really cool, folks, a terminal on a cell phone. wicked powerful. really good charting capabilities, $10, west texas intermediate. francine, really shocked yesterday brent crude under 20, how about a 17 handle right now? francine: yeah, a lot of 9 focus will be of course on brent from now on. i did want to mention something, tom. because spain has followed italy with the record setting bond demand at the sale that came out 20 minutes ago, something that would be seen as a positive overall. stocks here in europe are actually gaining as are u.s. futures. i think a lot of the folks have these oil prices that just cannot find a floor at the moment. the focu

. -- tom: we have equities higher. dow futures up dramatically along with the standard & poor's 500. vix comes in at 50 with yields higher. oil turning with prudent headlines. that meeting delayed. dollar resilient this morning. guy johnson? guy: we will see exactly what happens is the week progresses. in terms of europe, stops are big -- stocks are big. the pound is catching a bit as well. reverting some earlier losses. the prime minister in st. thomas hospital. 3.5% the downside. you can see three basis points higher. -41. despite the negative investor data coming out of europe. may be pointing to further risks ahead for that space. thank you so much. i greatly appreciate you being here with us from london today. we want to begin on a monday with someone who is experienced with sweat. -- charles figure counter, not running the fitness team but very much used to crisis. he has been involved in some transactions that have been very visible including whole foods and amazon. mostly he has been involved in what to do when

tom: one final question.his with great respect to your career, the way you have always been linked to arkansas, is there any legitimate worry we are going to have meat shortages? maybe it is not top of the fold, but with all of your contacts, could we actually have reach shortages? i hope you will continue to explore this. i think there is some probability of that. why? our supply chain is geared for of food inat 50% america is consumed in a restaurant. now americans are eating at home, that has disrupted supply chain direction. withyou combine that production shutdowns in the midwest, you get this disruption. i think that is why sonny perdue -- that is on the top of his worry list. if he looks for labor and health conditions to keep production open. tom: we have got to leave it there. you for joining us. city, viviana hurtado. viviana: new york state is looking at may 15 to begin reopening. sayingr andrew cuomo construction could resume upstate before moving back down to new york city. yesterday, the state r

tom: thank you so much.ppreciated, really cannot they enough about our new steam, michael barr, viviana hurtado, and all of them led by jim morris. they collated in all of these different themes and trends. for our european and united kingdom body and, i want to mention -- united kingdom audience, i want to mention that it is april 1 and the rent is due in every single family -- do ands nation is every single family across this rentn is dealing with that is due. sun is a nation, as the rises in america, that doesn't know where the next rent payment is coming from. francine: there was an outstanding bloomberg article i was reading. the u.s. is different because you have 320 million people and the u.k. is about 67 million. what struck me as from landlord to wall street traders, people are fretting about today, what happens when u.s. rents are due? it is around $81 billion so a lot of questions over the u.s. real estate industry as payments come due today. i don't know if we will find out something today or tom

tom? tom: francine, thank you so much. is what i am looking at more than anything, with dollar strength. i cannot say this enough. if you want to frame an optimistic view on the market, next is our interview of the day, benjamin later -- like december of 2018, he is optimistic. this is bloomberg. ♪ ♪ morning, everyone, the beauty of washington. kevin cirilli looking at all the politics of the moment. if you are a bowl or not of -- in those withsted optimism, this is the interview of the day. hudsondler is that tower -- at tower hudson and he had the courage in 2018 to say go along stocks for a substantial move. he is saying the same thing now. we are thrilled ben laidler could join us. what does the gloom crew get wrong? go very quickly and that is a contrarian positive. got cut quickly compared to previous crises and that is a contrarian positive to give us a bit of visibility. you have unprecedented fiscal and monetary stimulus that was bigger and came quicker than the previous crises. and now, we are beginning to see so

tom: what is the congressional response to this? just like the president in gottics or is it like it the attention of republicans and democrats alike? kevin: it is fascinating because over the past several weeks, we have not covered the republican versus democrat story, we have covered it as a regional story. folks in that particular part of the country are with the president on both sides of the aisle, and they understand that because from a business perspective, the reality is the health situation, the health reality in different parts of the country are different than on the east coast southern corridor. the president met with governor desantis and many predicted florida would be like italy, but the scientific data does not point to that. i think he is previewing what you were going to hear in the final sprint to election day in florida, and michigan, which is while some want to keep economy closed, he wanted to reopen it. yesterday i spoke to pat toomey from pennsylvania who was same to draw that same contrast with the democrati

you can interact with tom and i directly as well. tv .s is bloomberg. ♪ ♪ guy: i am guy johnson in london, tom keene in new york by the park in manhattan. ours get back to conversation with ron temple of lazard asset let's talk about what is happening in the markets. the equity markets have been particular and there seems to be the temp tatian of seeing any flattening of the contagion -- temp tatian of seeing any -- ion of seeing any flattening of the contagion -- and a sense of where we are and how we should relate the virus as it relates to decision-making? ronald: with the market having traded down as much as 35%, on a two to three year basis that represented a buying opportunity but it is important to investors , be careful about staging their way into the market. i think we will be whipsawed and have more news. it is early making prize notch the occasions -- making prognostications that this is over. oforry about the success some of the antimalarial jogs -- drugs. it seems like there is an increasing amount of downside risk or being

tom: the president has a certain style. he politically, domestically is a huge representation and support from the states that make up energy america. what for you is the most effective plan or program or policy that president trump can generate right now to help support the price of oil? with: i think the dialogue the producers around the world is of critical importance. if the dialogue is important in general, today it is very, very important because in terms of all the producers but also consumers and the global economy , the united states and other countries come together to look at the different options they have on the table and through dialogue to solve this problem. no country can solve this problem alone. we will get a scale up of the problem. the united states is definitely in the driving seat but also saudi arabia and oil producing companies need to make an effort so that we are out of the black april with minimum damage for the global economy. that we saw an is there nof oil, downward limit anymore? will we see

francine, tom? tom: let me do a data check right now, equities, bonds, currencies, commodities. it is quite subtle and it indicates global contraction. you see it with a lower yield ,urve, a flatter yield curve rather. you see it with a giveback after the big day in stocks yesterday first up -- yesterday. oil just flat out giving way from the opec-plus meetings, and it confirms again, with short-term interest rates coming in with a vengeance, the two-year yield really back down to near the low seen in 2011. francine: i'm looking at that, and i know we will spend a lot of time on oil slumping, and i know we will try to figure out will dowhat the u.s. with his opec-plus agreement. i actually put pound because there is an interesting call, an interesting bloomberg column about this saying that europe is trying to get the act together not only because of the pandemic with the lockdown, whether they are ready to ease them, it is sterling that could be the winner longer-term. brexit, a little bit at the back end of our thoughts right now, and maybe that is a good respite for pound tra

tom?> trevor ault from midtown manhattan for us. trevor, thank you. >>> as new york talks about flattening the curve, new hot zones are being tracked across the country. several states, including massachusetts and pennsylvania, now bracing for their peaks, which could be days or weeks away. here's abc's chief national correspondent matt gutman. >> reporter: tonight, the virus on the attack. several states predicting they are just days away from their peak. in massachusetts, the number of confirmed cases soaring by 21% in just 48 hours. 59-year-old nurse maria krier quit her job at this life care center in massachusetts earlier this month, saying management had no experience with the infectious disease, telling our affiliate wcvb in boston -- >> there's no initiative to protect the workers and the patients. >> reporter: and on friday, krier died after contracting covid-19. and now more than 70 staff and residents have been infected. ten residents have died. the center now asking all staff t

tom? tom: viviana, thank you so much.bonds, currencies, commodities, really don't know what to say about it other than we are turning, turning on a friday. i do want to point out the summary of this across the global market is a stronger yen, and many, as francine alluded to earlier, guess that is really about a weaker euro. i am watching your of really quickly -- you're very carefully. this is really important. -- i am watching europe really carefully. this is really important, francine, really fragile on any number of accounts, including the collapse in oil, but you really saw it was a brutal day yesterday for the brazilian, loss of 4.55, the way it got there was really distressing. francine: it was distressing, tom. a couple of things here. european central bank, including two -- according to a bloomberg survey of economists, will include emergency bond buying in the coming months, that president lagarde sees it shrinking by as much as 15% this year. this is something we have to keep an eye on. this also comes on the b

i am tom keene in new york, guy johnson in london.tephen roach with morgan say he, many would invented modern market economics. he decided he could distribute the messages of morgan stanley. of his messages of morgan stanley in a new way, he took that to china in his asia,"ed book, "the next and has followed onto yale university where he teaches the toughest course in the system. what everyone wants to know from you internationally is with china? can we just china? stephen: that is the wrong question to ask. everybody asks that. can we trust anyone now? can we trust our leadership telling us the truth on where we are going? china has a template. you may not like what they did in the beginning, and very few people dead. they locked down their economy and are trying to come out the other side. they are normalizing production and having a difficult time normalizing consumption, but whether we look at china or south korea or other nations who have done, i think taken draconian efforts to contain the virus, as much as we dislike the method

tom: -- francine: sorry, tom. tom: let me get into this data right now. equities higher today in west texas intermediate is absolutely 9/11.able, back to after we are back to december of 2001 into january 2002. it is $19 a barrel and now in $18 handle. it is extraordinary. francine. francine: i am looking at stocks. u.s. equity futures. the focuses is on the roads largest economy. u.s. helping investors understand how it will reopen. us., thank you for joining the market is taking risk by the fact we are slowly thinking about the plans to reopen the economy. what happens the market is we open, and then we have to shut back down. if you look at the number of deaths and infections, they are not under control. >> thank you so much. an hour base case, we do think we start to get the restrictions lifted but there will be setbacks, as we progress through the year. that is why the earnings that people are looking forward to are probably not going to make before 2021.end i think some of that of what you are describing. happens -- where is au look at when it right

tom: thank you so much. equities, bonds, currencies, commodities, gold with a leg up, not to record highs. the rest of the market, for the first time in ages, is exceptionally stable. that is what i see across equities and bonds and within the litmus paper of the global system in currencies. showing some yen strength, a symbol -- symptom of the weaker euro. emerging-market currencies are ever so fragile. we spoke to jeffrey currie about a weaker brazilian real. the turkish government pointing to the istanbul operation, really front and center intervening to hold the line at seven lira per dollar. francine? francine: crude oil surging above $15 a barrel in new york. looking at what european stocks are doing because they drifted as private sector activity plunged more than economists anticipated. flipping and taking a $1 billion right down for provisions on bad loans after the pandemic. markets are trying to figure out exactly what coronavirus' impact on the global economy will be. i stand corrected, the europ

tom? >> trevor ault leading us off tonight. trevor, thank you. >>> now, to those breaking developments overseas. after revealing he tested positive for coronavirus, british prime minister boris johnson is now in the hospital. the news coming shortly after a rare address from the queen. abc's maggie rulli is in london. >> reporter: tonight, boris johnson hospitalized on doctor's orders, ten days after testing positive for coronavirus. the british prime minister had been working from home. >> i still have a temperature and so in accordance of government advice, i must continue my self-isolation until that symptom itself goes. >> reporter: but johnson's high fever has not gone away and today, he was admitted to the hospital. the news coming just hours after a rare televised address from the queen. >> i hope in the years to come, everyone will be able to take pride in how they responded to this challenge. >> reporter: the 93-year-old monarch rallying her country, as the crisis hits close to ho

guy johnson and tom keene. this is bloomberg. ♪ everyone,morning, bloomberg surveillance in new york and london. another week of these great challenges refinance, investment, and societies around the world. tomjohnson in london, i am keene in new york. francine lacqua is fine, off today with a much-deserved they all. guy johnson helping out "bloomberg surveillance." we greatly appreciate that. john normand publishing a wide array this morning. this week and we spoke with joyce chang this week, head of economic research. don, dovetail in the economic forecasting that -- john, dovetail in the economic forecasting that jp morgan is doing with how blind you are flying in analyzing markets. you feel like you have a confidence in observing markets, or are you making it up as you go? have a moderate amount of confidence about analyzing markets, both what we can observe in hard data and real-time data. it is the greatest economic collapse since the global financial crisis. we have seen that has had impact on financial

if people keep giving, captain tom will keep walking. that's it.ime for the news where you are. hello to our viewers in the uk and also around the world. we'll be bringing you the latest briefing from the white house when that gets under way, we are expecting donald trump to start that and about 25 minutes' time, expected to an announce the guidelines for opening up announce the guidelines for opening up america again. we will cross to that life. but before that, let's have a look at some of the national and international papers. hello, and welcome to our look ahead to what the papers will be bringing us tomorrow. with me are broadcaster david davies and olivia utley, deputy leader writer of the sun. welcome to you both, good to speak to you. let's look at tomorrow's front pages, starting with... the financial times carries a warning from french president macron that the eu could collapse as a political project, if financial support is not made available for poorer members. the japan times reports that prime minister shinzo abe has decided to decla

tom, hannah. how lovely is it that you've been watched those nurses that were treating you, tom?hey watched you complete the lab? they were saying how extraordinary it was for you to complete this challenge and raise as much money. what would you like to say? thank you very much to both of you, you have both done so well for me and i look forward to seeing you again soon. 0h, tom, if you could only see their reaction, i'm sure you can, on their faces as they both listen to you. they both put their hands on their hearts and did that. i think you're going to be teary for the rest of the day, claire and claire, but he just wants to say thank you to you as well. thanks so much. i'm so glad. hopefully this has made part of your day today. the remarkable captain tom merritt, more than £30 million raised so far. and for the fourth consecutive week, millions of us will ‘clap for carers‘ at 8pm tonight. it's to show appreciation to all the nhs staff and key workers who are keeping the country running and saving lives. with many of us spending more time at home during the lockdown, there's

but captain tom moore has.aiming to walk 100 laps before his 100th birthday to raise £1,000 for the nhs. i think i might say well done nhs. that total is now approaching the £30 million mark. the distance was completed last thursday and helped captain tom celebrate, michael ball sang. the next day, it was released as a single. today it went straight to number one. you are the uk's official number one. that really is truly amazing, isn't it? at the age of 99, captain tom has become the oldest person to ever have a number one single. amazing. that this should happen to me. louis armstrong was 66 when he topped the charts in 1968. a record which would stand for more than a0 years. until beaten by a 68—year—old tom jones with a comic relief single. and sir tom was quick to pay tribute. from one tom to another, congratulations on beating my chart record. if i was gonna lose to anybody it's an honour to have lost to you. next thursday is captain tom's birthday, meaning that he will still be number one when he turns 1

tom: well said. morning in america, this is front and center, percolating all across new york and wall street. this complete collapse of new york pricing and certain etf's and other indicators like that. i am sure this will be a topic for jon ferro as he speaks to lawrence kudlow. that's after the jobs report. of course, mr. kudlow is leaving the white house with a number of policy prescriptions including the fixation of saudi arabia. early front and center after the jobs report is the stark inability of people to keep their jobs. please stay with us. this is bloomberg. ♪ francine: this is bloomberg surveillance. tom and francine from london and new york. we are talking a lot about the u.s., some of the figures that we may see a little bit later on in terms of jobless claims. we will get back to paul donovan and ubs management. i wanted to ask about europe. there is so much fight between italy and some of the countries that corona has hit. can we talk about debt forgiveness or will we see italy in a

tom: thanks so much. equities with a fractional left. ,acebook out with earnings microsoft with earnings, and apple later today in new york. in the bond space, short-term paper coming in with a vengeance. the u.s. two-year well under .20%. that is the number one barometer going through those bloomberg headlines we will see from christine lagarde. what do you see? francine: i am seeing a similar data check. a lot of the focus is on earnings and u.s. jobs. that is also happening today and a lot of focus is on what christine lagarde can say in terms of extra stimulus. the economy is in a holding pattern and we got a look yesterday after encouraging news fauciach. -- which dr. said was encouraging, from gilead. a medication in treating covid-19. tom: joining us is marcus ashworth and he can look at the economic tapestry we see from the ecb and pull it over to market dynamics. what are the markets telling madame lagarde right now? marcus: i think they are sending her a message which i'm a bit worried she may t

i'm tom llamas. we begin with the mounting protests as stay-at home orders to stop the spread of the coronavirus stretch into another week. the tension across the country tonight with millions unable to work, even as the virus takes more lives. a short time ago president trump saying, we continue to see a number of positive signs, echoing some governors who say their states may be past their peak. but tonight the outbreak has now taken more than 37,000 lives. a week ago it was just 20,000. at the epicenter here in new york, there is some progress. the governor saying we may be, quote, past the plateau. icu admissions, intubations and deaths all falling for several days in a row. but new york is still vigilant. masks required in all public places beginning today while other states are easing up. take a jack across the country today, protesters said it's not enough. demonstrations in san diego, columbus, brookfield, wiscon austin, texas, and more. we start with trevor ault in times square leading us of

tom: right. one of your great terms is not only do you look at the strategy of this and the management of portfolios, but you look at the supply coming on. very few do that. how will this of let -- affect the supply of fixed income? it really becomes very idiosyncratic. if you look at supply a fixed income -- if i just look at investment-grade supply it is running a very strong levels ahead of even 2000, 2000 19 levels. yields are low. there was an opportunity to issue in january and february but even more recently right now is the markets have started to heal themselves a little bit, there is been plenty of need to issue. so low interest rates helps people issue. here's the problem. you're helping all the wrong people in the wrong places. the people that need the help our in the energy sectors, the more stressed sectors, not the structures that are healthy. sectors are getting the benefit of low interest rates. spreads are wide, but still. the money is not going where it needs to go to really su

tom: dr.to comment on what you have unitsed in intensive care and hospitals about biphasic illness, patients can be very sick, they do better, and there is a resounding deterioration. whatyour experience and you are experiencing nationwide, can you suggest the covid virus has a second life? are you seeing that clinically in-hospital? jason: we have seen cases of patients who seem to be recovering and have an acute decline. is key question physiologically, what is happening? there is a lot of hypotheses around what that is. you have to remember it is not the virus itself causing the issue, it is our immune system's response to it. our immune system can begin a response and reduced viral replication, and once viral replication declines, the virus has mechanisms to evade the immune response and eventually overwhelm the immune response. the immune system begins to ramp itself up so what you are seeing with acute respiratory distress, patients are having fluid develop in their lungs, not only pneum

tom: thanks so much. equities, bonds, currencies, commodities, we could do a one day data check -- one hour data check. the dow at 23,171. in the oil moves, i will let francine do that yields have broken down, the two year yield decisively under 2% and the 10 year yield comes in two basis points, .58%. francine: there is no other way isput it, the oil rout continuing. treasuries edging higher. the june contract plunging, the below zero. for wti there is concern about the health of the north korean leader, more uncertainty in this market already roiled. numbers at the margin are getting better. tom: we are going to continue withoverage, martin rats us in the last hour and harry until injure the other day -- tillinger the other day. kevin book joins us now with an interesting look on washington policy. oil,gin on the price of what is the significance that brent crude global oil has joined the fall in oil this morning? kevin: the significance is that there are two stories and have balancesen, the global stor

tom: i want to be direct.srazeneca is a stock chart the envy of anyone in the world including jeff bezos of amazon. withave been on a tear wonder drugs to come including your stunning lung cancer success. we see some sell ratings including goldman sachs has a cell on your shares. he and i looked at your -- i looked at your financials and it's really interesting for with the astrazeneca success how you're going to shift from a dividend paid off debt to a dividend paid off cash flow, how will you accomplish that and when will you accomplish that? >> thank you for acknowledging we are doing well but i can tell you it hasn't been like this always. and it is the result of the hard work of a lot of people in the organization, everybody has been very -- working very hard. tom: tell me about the dividend. this dividend question is critical to wall street. as far as goldman sachs you will have to ask them why they have us on that. why weey could explain are there. , we have saides for years we would look for a time we

tom: i am glad you bring it up. this is sort of a daily basis, and one of the tranches of alphabet soup of assistance from the united states of government, we will run out of that pot of money today or tomorrow. the speed of change we see including madame lagarde's comments, extraordinary. one of the most qualified people i know to link in the profit atlosion, steven wieting citigroup working in strategy and linking profit and stock market performance into the greater economy. thank you for joining us. how much have you had to change your outlook? how far away from january 31 are you now? steven: very, very far away. we are expecting the u.s. economy to contract more than 4% in 2020, and we think that the current quarter, the second quarter -- if you think about it would fall about 10% in level. gdp data is an annualized contraction of about 40%. we have got to remember that this is again an exhaustion a shock. the econ -- exile janice shock. us shock.o the prolonged downturn of 2008/2009, this is shutting the econo

tom: thank you so much. futures lower. yields are in with curve flattening. i want to focus on the stresses in the emerging-market. they are all different whether it is south african rand or turkish lira with recent record week as. -- weakness. em is indicating stress and oil under pressure as well. francine: i think we need to spend more time looking at oil. investors are taking this worsening coronavirus figure badly and trying to assess the impact the pandemic will have on corporate profits and dividends, with banks in europe saying they have postponed or scrapped dividends and buybacks stocks are down and a lot of the pressure is coming from banks where u.k. banks are down 6% to 7%. wonderfulve had conversations with professionals in the medical community but of course what we do every day, economics, finance, and investment. we are thrilled to bring you abby joseph cohen of goldman sachs. i must start with your charitable commitment that also includes the hospital of your new york city. cornell andpdate

," thi tom cope this morning, good news. perhaps fewer cases, perhaps the need for fewer hospital beds. perhaps the prime minister is stable. perhaps wuhan ends the lockdown and safely. suddenly oil below zero. no one wants the physical, tangible. calgary considers -- cash is needed in "days, not weeks." small businesses if republican senators will take a meeting with democratic senators. in this hour, arianna meza cotto. underorning, still onerous conditions at home. guy johnson is in london, which is a good thing as well. i read carefully the reports on the prime minister overnight. is he stable? is the condition essentially the same day two of intensive care as what we saw a day one of intensive care? guy: it appears to be, the second night in the icu, though, which is significant, so the indications are that he is stable and in good spirits. basically that is all the information we have at this point. we simply do not know anything more. i drove past this morning, and they were delivering oxygen. but at the moment there

so josh, i'll defer to you. >> tom o'halloran is calling on the phone. tom? >> i'm here. thanks for your leadership. i want to thank all of those who have worked so hard on this process. america has been through crisis time and time and time again and has overcome it. and the reason we overcome it is because we are on the side together. this is an indication of what coming together means. it's finding common ground and overlooking the other nuances of politics, and finding something that's good for the american people and works for them. and in this case, saving lives on an hourly, minute, second basis. and we have to do this across the entire spectrum on this issue. it's going to be with us today, tomorrow, and into the future until we find a vaccine. and maybe there's another one. this helps us learn another process we're going through right now, helps us learn the lessons of before. that's working with one another, not against one another, and working as americans for the common good. we can do this and i'm hoping that this step is a step that's going to help lead othe

tom? >> marcus moore leading us off tonight. marcus, thank you for that. >>> now, to the urgent need for testing to reopen safely, both for antibodies and confirmed cases. tonight, a first look inside the air force facility using a new do it yourself swab that could greatly improve how we track this virus. but there remains questions about reliability of some tests. abc's trevor ault is at a testing site here in new york. >> reporter: tonight, the number one priority to get states back up and running? testing. new york governor andrew cuomo says his state is obsessively focused. >> how fast is the virus spreading? all of this is dependent on testing. >> reporter: officials in new york city now working with fema on a plan to test 120,000 city employees for coronavirus antibodies. similar tests are already under way in places like los angeles. and today, boston's mayor announcing 1,000 random residents will be tested for antibodies, as well. but antibody testing could face problems. "the new