really appreciate it, stuart kaiser of ubs. we want to give you an now.on headlines outside the business world. viviana hurtado is here with first word news. viviana: we begin with the largest economic rescue in u.s. history. the senate approving a $2 usingon package aimed at the damage caused by the coronavirus outbreak. giant loan programs were set up to help businesses. the house is expected to boat on the bill tomorrow -- to vote on the bill tomorrow. now to a tragedy and a very difficult choice, who to let die first. spanish doctors are being forced to choose because of coronavirus. intensive care wards are overflowing. rules are leading younger live because they have a better chance of surviving. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. i'm viviana hurtado. this is bloomberg. alix: thanks so much, viviana. coming up, ubs ceo sergio ermotti finding new opportunities during today's volatile markets. plus, if you have a terminal, check out tv . y

barb: yeah, there are, so we're working on an ube latte.hole foods has asked us to work on a matcha-green-tea latte. lemonis: who comes up with all the flavors you've come up with? barb: kurt does. so my very best friend, our family friend who's like a brother to me, and i call him my business partner, developed the coffee. lemonis: do you own 100% of the equity? barb: i own 100%, yes. lemonis: but you treat him like a partner? barb: of course, yeah. lemonis: but the paperwork -- barb: does not say that. lemonis: like, if you got hit by a bus, nobody would know other than you and him. barb: that's right. lemonis: okay. barb: this is kurt. lemonis: how are you doing, my friend? nice to meet you. kurt: nice to meet you. lemonis: how did you guys meet? kurt: got the entrepreneurial itch, and i opened my gym with her husband 16-ish years ago. barb: 16 years ago. kurt: so she came in every day and helped me for nothing. barb: the gym eventually closed down, but... lemonis: the gym lose a lot? kurt: total, probably half a million. lemonis: all go

vonnie: ubs ceo sergio ermotti.er today, it's been a wild week in distressed investing. i'm going to be speaking with bruce richards, marathon asset management chairman and ceo, to give us an idea of how everything has been going down. it's his is bloomberg. -- this is bloomberg. ♪ ♪ guy: this is "bloomberg markets ." coming up in the next hour, we are going to hear from congressman patrick mchenry, the republican leader of the house financial services committee. ♪ from new york, i'm vonnie quinn, along with guy johnson in london. this is "bloomberg markets." it is time for your latest bloomberg business flash. goldman sachs warns that even a price war halt can't save oil from a huge glut. lockdown in countries around the world is creating a drop in demand. cutsworn any production would be too little, too late. bonuses could drop 40% or more across the financial industry this year. alan johnson of johnson associates says a perfect storm is taking shape. he says the global recession and broader industry shakeup will

month, ubs named someone to take over. by demand, a sign that virus s hutters are turning to the online retailer. orders will be delivered more slowly than usual. theanonymous driver says company has seen a surge in demand for bottled water. that is your bloomberg business flash. matt: thanks very much. laura wright with your business flash. it is super tuesday in america, and former vice president joe biden has picked up three endorsements from rivals. why is it so super? annmarie hordern is in new york to explain. annmarie: i think you know why it is super as well. it is not just any tuesday. we have 14 states holding primaries. here are the paces in play. alabama, arkansas, california, colorado, maine, massachusetts, minnesota, oklahoma, tennessee, texas, vermont, and virginia. 7 delegates, a third of the total. 415big prize, california, at stake, followed by texas. those are the two most populous states. the big day will show how the candidates are doing on the national stage. depending on the outcome, it could trim do

he is mark haefele from ubs. call yesterday with the bank of england, explaining some of those moves with the pound, those were on the movers on lockdown in london, which would also hurt financial services. we have a big current account deficit in the u.k., so you will see dollar moves because we have a much more open economy than others. this is what i am looking at in the markets. a little bit of respite. we are also hearing from germany, setting up a $500 a 500n -- setting up billion euro rescue fund. we are hearing this from the spiegel, usually a reputable source. taylor: we go from a bailout over there to conversations of more bailouts here in the u.s. as we await our third stimulus package that could come hopefully within the next few days. we look at how that is translating into the equity market. a firmer, more constructive tone today within the s&p 500 after surprisingly, no big down moves in either direction. we will take after this week. the 10 year yield coming down 10 basis points now to 1.04%. the

you ran ubs during the financial crisis. you were at the table. if you were running a major bank today, how would you be feeling? >> i think the banks actually are in good position. this is nothing like 2008 and '09 where the leverage in the system was north of 30, 40 times. this is much different. the leverage in the system is actually below 15 times and at the household and the consumer, it's also lower. so that was a time where we were concerned with financials, housing and the auto market. this is much more broad, much more impactful and that was a true global recession. this is i think, to jerome powell's point, this is a technical recession. the pandemic brought this upon us. therefore, we have a faster way to get out of it. i'm just hopeful that we continue with the stimulus because like i said, this is more like stabilization, what they did today. the one thing i would comment, i know we are in a rush here, i think the next phase has to get the consumer side going. we actually need to think about ridding sales tax and lowering the payroll

joining us now is solita marcelli, ubs global wealth management deputy americas cio.u and chat with you. bs has an investor watch pole that came out for march 21 through 24. -- ubs has an investor watch for march 21e out through 24. what are you seeing? to keep watch on this survey, and we conducted one very recently. what we have seen is that , but amongoptimism these clients who mostly on their businesses, even if short-term optimism took a hit, and the long run, i think a significant majority of our clients are still optimistic about the economy, about the market, and this is important because once we have the worst of the virus behind and stimulus starts kicking in, we are hopeful that we can get over the economics fairly quickly. in fact, we get a lot of questions from clients whether we should be adding risk here. we mostly direct them towards the credit markets right now rather than the equity markets for that increment of dollar they want to put into the market. alix: that is interesting because i would have thought that maybe there would be questioning about

let's bring in ubs america's chief investment officer mike ryan i know you guys have laid out a couples based on the pandemic and the markets. what is the -- we need some good news and we're trying to end every show with good news and what is the best case scenario that you guys have laid out for both >> first of all, thanks, brian in terms of the best case what you see is that the social distancing measures and these mobilization restrictions that they bear fruit and what you wind up seeing is that the infection curve that is the case curve begins to bend quicker and then we see something that looks more like what we've seen in china and what we've seen in korea in terms of the containment measures and what you begin to see is some of the distancing measures can get the economy moving ahead and you see recovery that would also require continued additional support by both the fed and also we'd need to see the auxiliary support, rather, that's going to come in from a pretty massive fiscal stimulus program and the markets recover and earnings are able to stabilize and we see equity price

again, and goldman might buy a chunk of ubs wealth management business. they would obviously get it kind of cheap now if they go there. this is a crazy time, though, to be doing deals. i'm not saying it's happening tomorrow but that's the speculation inside ubs and their wealth management division. the other thing, the reason why banks are getting hit so hard, yes, no deal making, stocks going down. but when you have interest rates where they are, banks don't make money on their products. that hurts their bottom line. this stuff is really low. so steve scherr is talking about deal making at a time that no one is making any money. usually that's a difficult time to do deals but maybe the contrarian wins here. i'm pointing out that, you know, wall street firms are going -- stop wrapping me like that. liz: charlie, charlie. charlie: please. liz: wait. charlie: i know. i don't come here, you know, just to hear myself talk either. okay? wall street deal making is at a standstill. liz: thank you, charlie gasparino. breaking news. we have this. seattle public sc

but they did not get the double upgrade that lam did from ubs.ave wilson, thank you for that. you can always charts and so on at @nywilson. speaking up, we will speak with the wto director general at 12:00 p.m. new york time roberto azevedo. this is bloomberg. ♪ live from new york, i am vonnie quinn, along with guy johnson in london. this is "bloomberg markets." time for futures in focus. ofey sick, vice president calamos investments, joins us sac, viceoe cu president of calamos investments, joins us over the phone now. -- >> oil will be challenged to the upside. we are already hitting capacity levels as far as what we can continue to store. if the saudi's continue to pump, as they are, and you see the russians also, this will be a challenge soon. vonnie: where could we settle? where does this and? joe: this is true demand destruction, one of the rare areas of the market where you can say, because we have such an enormous glut, before we got to this very situation, at the day, you could see $10 to $15 oil, and it could happen in quick order, espe

paul donovan, ubs global chief economist, joins us from london. if we have money market funds getting freed up by the fed, the dollar swap line being extended to more central banks, does this eliminate the dollar squeeze? paul: i think it certainly goes a long way to helping on that. to be honest, i am not really that worried about the liquidity issues. central banks know how to deal with liquidity issues. that's the easy part of what we've got to try and deal with over the course of the next three to four months. i think central banks have got this. the speed with which they've reacted, the fact that they are using traditional methods which will work, likely swap line. we know from the financial crisis this is exactly the sort of thing we need. they may need to do more. depends on the extent of liquidity demand that we have. but they know what to do in this situation. alix: one more point on that, how much do you think we are going to have to see the fed do to really clear dealer balance sheets? do you have an idea? paul: no, i think it is too un

stuart kaiser of ubs will be staying with me.his is bloomberg. ♪ viviana: you are watching "bloomberg daybreak." u.s. lab equipment maker thermo -- foragreed to buy about $10 billion. the company makes tests for diseases. it represents a 20% premium to qiagen's closing price yesterday. now to amazon's warning because of the coronavirus outbreak. demand overwhelming amazon fresh and prime now services. it shows that customers are avoiding brick-and-mortar stores. tesla's modelo three is a battery-powered car called the i4, reminiscent of bmw's bread and butter. -- bread-and-butter three series. >> we expect growth in china, and also expect growth for the rest of the year. whether that is true for the coming weeks, i will not be able to confirm, but i think it is far too early to make productions for the full year. bmw is still a growing brand. viviana: car sales in china plunging 92%. that is your bloomberg business flash. alix: thank you so much. i want to stay with autos for a second. we might get a look at the impact of coronav

ubs chairman axel weber sat down with bloomberg's manus cranny on the sidelines of the summit.lieves the global economy will take a massive hit from the virus, and he says markets are underestimating the risk. axel: the market has basically the view that the glass is half-full, the world will pass that stress test, it is a temporary one quarter impact on gdp and trade and we will move on from there and rebound. and that is also paced into our projections. manus: the g20, the language being used is about a potential coordinated response to a slowdown in the world as a result of this new black swan. axel, what is a coordinated g20 response, 2020 style? if 2019 was rates, what is 2020? axel: just to get the numbers right, likely, in our estimates, this is going to bring global growth from 3.5% to .5%, which is a massive drop. it will bring chinese growth from 6% to -1.5%. it's the first time in postwar history where china will post a negative number for the first quarter. that requires a response. and the global number basically tells you it is not just china. it is very strongly

european ratend strategy at ubs talking to us ahead of the bank of england meeting later today. quickly break some headlines for you that we see crossing in the airline sector. asia off, malaysia's air is said to explore options for its air asia x. it is weighing introducing a new investor, weighing getting help , bond issuance, integration are among the options. keep your eye on that in terms of airlines. , the regulatory body or industry group, the ceo is reiterating the airlines expect -- are expected to take globally a $252 billion hit. they said some airlines will disappear, consolidation will come. government aid is needed fast so airlines can rebound or maybe even just survive, as they say globally they expected ticket $252 billion hit. let's get the bloomberg business flash. for that, we go to leigh-ann gerrans in london. >> thanks, matt. partue is sliding at a key of the trading division at jp morgan. the equity derivatives have soared to 1.5 billion dollars of revenue this year. that is almost what the wall street giant reported from all equity market business in last

when i was at ubs we were 55 times levered. today they are 15 times levered or less. the risk capital underpinning these banks are real. there is not a situation with the banks. it's not a banking issue at all. very different from lehman. there's not leverage in the em is it. that's why in my opinion, this is not about the fed. sure, can the fed put in some stimulus and will the market feel a little better, yes, but like you say, the consumer -- liz: not much. >> -- is not going to make a difference in his or her habits which is 75% of the u.s. gdp is consumer. we have to do some really tough things and i know that maybe your viewers won't like it but in the u.s., sometimes we do pick winners and losers. we actually have to pick some winners here. we have to make sure we are helping those industries most impacted immediately, immediately, immediately, because when we go into a global recession, which we are probably going into, we'll do different things then. today, you have to do special things for these haveindustries. liz: but if we do that, call them what they are

later in the hour, we will have an exclusive interview with ubs ceo. manus cranny spoke to sergio ermotti about what he is seeing regarding opportunities in the markets. this is bloomberg. ♪ vonnie: live from new york, i am vonnie clean with a guy johnson in london. this is the "european close" on bloomberg markets. now that the senate has approved the $2 trillion stimulus package, the next step is for the house and leader speaker pelosi. she said she hopes the bill is passed by noon tomorrow. kevin cirilli joins us now. great that was a interview with david westin and speaker pelosi. now we are joined by congressman greg walden, a republican from oregon. the speaker is saying that by tomorrow, this vote will be across the finish line. are you optimistic that there will be little to no opposition on this legislation? rep. walden: i think everybody get thisds the need to help out to people who are filing for unemployment, businesses that are suffering, our communities that need help, first responders that need the p.p.e., we got to get vaccines out ther

about 6.7 million people in the bay area who's lives are going to be affected by this mandatory and ub precedented shelter in place. it's expected to continue for three weeks. tonight the streets looked more bare than usual. the city's financial district looked early empty as the sun set over san francisco. >> my fellow san franciscans. what we're asking for efrp to do is to remain at home for all by the most essential outings for your safety and the safety of those around you -- asking for everyone to do is to remain at their home. >>> came together for this historic action to slow the spread of covid19. here's what will remain open. grocery stores, phci, banks, gas stations, police, fire, transit and sanitation. bars and gyms will close at midnights. restaurants will move to take out and delivery only. coffee orders will need to be to go. >> a little surprised because it hasn't happened in washington state which seems to have more cases. i guess they're trying to get ahead of it where the hospitals don't have enough beds or ventilators for people. >> i think there was more panic. peo

last month, ubs named the ing boss to take over.rs toax may take -- reach of the reduction goal. boeing says it will likely take until 2023 for the mac's built right to hit 23 planes per month. amazon's prime and fresh delivery services are being overwhelmed by demand as a sign that coronavirus shoppers are being impacted and turning to delivery. orders will be delivered more slowly than usual. in company has seen a surge demand for bottled water. reached itss it has goals ahead of schedule. that is your bloomberg business flash. coming up, the trump administration addresses a series of efforts to contain the market fallout from the coronavirus. we discuss that next. this is bloomberg. ♪ manus: this is bloomberg daybreak, europe. nejra: back to the coronavirus and the trump administration is discussing a series of steps to contain the market fallout including pushing the federal reserve to allow an emergency cuts. trumpin the day, donald also criticized pharmaceutical executives for not meeting earlier. manus: the meeting consisted

michael crook of ubs staying with me, as well is michael mckee.berg. ♪ this is bloomberg. ♪ alix: time for a check on some of the biggest movers right now. bnp and occidental petroleum down. occidental got a price target cut at pepper sandler, as well as wells fargo, and cut capex. marathon also cutting capital spending by 21%. norwegian cruise lines lower by nearly 6%. airlines like american also getting hit this morning. industry still awaiting details on what type of help may actually come from the trump administration for the sector. we will talk more about what the government can do to help them later. comingup come with -- up, we talked to michael feroli of jp morgan. this is bloomberg. ♪ ♪ alix: this is "bloomberg daybreak." i am alix steel. the latest rate on cpi for february in just minutes. after its for the s&p biggest rally yesterday since 2018. now we are almost 3%. other asset classes -- a broadly weaker dollar story. yield still down between nine and 10 basis points as the curb flattens. crude rolling ever. now we are all 4%. it con

scarlet: that was the ceo of ubs.bloomberg. ♪ i'm romaine bostick here in our bloomberg world studio above manhattan. scarlet fu posting from her basement. we will bring back in joe weisenthal, who is out there in texas somewhere. don't miss this segment. joe, what are you not missing? what should we not miss? joe: i don't think we should lose sight of the initial jobless claims. of course we have is incredible market rallied. the fastest three-day rally since 1933. the second time this week we have been talking about superlativess sinc 1933. we cannot miss the human devastation and weird disparity that you sometimes see in markets and when the economy and vice versa. we saw the crash in markets before it started showing up in the actual data. -- we saw inthe virgin the divergence in the other direction. now the data is dismal. we got this little rebound. hopefully that portends, if the relationship holds, some stabilization in the real economy, at least in the weeks ahead and hopefully to stop the bleeding if not imm

maximilian kunkel, cio for germany at ubs global wealth management..k.some parts of grind to a halt due to coronavirus, one chain says it plans to stay open. we will talk to the owner, tim martin, the chairman and founder of jd weatherspoon. this is bloomberg. ♪ welcome back to bloomberg markets. this is the european open. 30 minutes from the start of cash equity trading across europe and the u.k. you can see that futures are up and gaining. we are moving higher, now up almost 5% on equity index futures, coming from less than 3% when we started this program. it looks like it could be a risk on friday to end the week. we did have some deutsche bank headlines as they hold their annual press conference today. deutsche bank management is waiving claims to its performance pay. not reallyso may perform as well as expected this year. they say the virus may affect their ability to meet financial targets, which is not a surprise, but good to hear. they also appointed the ceo of deutsche boerse to their supervisory board. there are a lot of headlines coming out

david: toilet paper again. >> ubs is allowing china to use their popular service to advise clients.ted the approval and compliance pocked -- process last week. ubs would be the first global bank to reach out to we chat which has a billion users across the whole of china. the infection has handed tencent millions of new gamers. tencent gained $25 billion of market value before the global stock hit home. the coronavirus is yet another blow for cathay pacific, already under pressure after months of protest in hong kong. it lost more than 250 million u.s. dollars in february alone. slumped andmbers the loss is more than cafes -- cathay's net income for all of last year. they are offering a skeleton flight service. >> we have a couple min is left in the morning session. it has been not good but not bad. the markets were really topsy-turvy. for tens of 1% as we had to the break. -- .4% as we go to the break. this is one of the better performing indices as far as asia. is .3% down. i will let you act on that information on your own. index ise hang seng trading below book value for only the

he says ubs is trying to be part of the solution.bal news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ritika gupta. this is bloomberg. david: coming up, we have an exclusive interview with house speaker nancy pelosi on that house stimulus bill passed by the senate yesterday. that is coming up later in this hour. this is bloomberg. ♪ david: this is "balance of power ." the coronavirus is a truly global pandemic, requiring global response, led in many ways by the world health organization. -- the you is dusty in -- the un is leading an effort to help the uh oh with a with ae fun -- the who response fund. leading that fund is elizabeth cousens. >> great to talk to you. this pandemic is truly unprecedented as a global crisis in its speed and scale. we are seeing that every day, every hour. it will impact every country, every community. there is not a dimension our lives that will not be affected, and it needs a truly unprecedented response. the u

we knew that but now ubs is making the connection with apple, apple supplier on semi conductor is bringingown pretty much the entire iphone and apple ecosystem after had to cut the revenue forecast due to what is called virus disruption down four-point to 5%. you can see sky work solution down five full percentage points, and down 4.9%. also those are being felt in the travel sector. disney cruise lines announced it will allow guest to cancel sailings for a full refund and will start screening crews and passengers before embarkation. that's for passengers who decide they're still going pre-disney is down 1.6% - $112.14. let's look at the crews liners, they were green earlier today, now they are red, norwegian stock halted earlier due to volatility, norwegian down 4.5%, royal caribbean down 4% and ccl down three and change percent. check out the national air gua guard, air dropping coronavirus testing kits to carnival grand princess cruise ship that has been left in limbo off the coast of san francisco. we do need to tell you that virgin voyage new scarlet lady cruise ship has canceled its

and that was the ubs ceo sergio ermotti speaking to manus cranny. let's do a market check.we are off from highs, but still on course for the best weeks in asian stocks since 2011. outperforming,y given the dollar weakness we have seen. that still seems to be the case with the exception of the philippines. . 6% swing to the downside in the last half-hour. goes to show how volatile these times are. futures, still lower here today, the dollar still on the back foot. . fx certainly seeing gains. the japanese yen more than 1%. 108.37. plenty more to come. ♪ reporter: it's 8:30 a.m. in mumbai. i'm yvonne man. we are entering the last hour of the morning session in the city. the coronavirus backs up morgan numbers with the u.s. surpassing china and reported cases. half a million reported cases worldwide. china bars foreigners to stem any import of infection. president xi tells the g20 there must be global cord nation to fight the virus. navigating a course through the outbreak. we assess the outlook for world shipping as global demand wanes. this is "bloomberg markets: asia." to b

fiscales presentÓ docenas de cargos contra un hombre, acusado de amenazar con disparar a la empresa ubsÁs alcántara de 18 aÑos. ambos estÁn involucrados en el robo a un supermercado a mano armada, el 10 de enero en palo alto. un tercer involucrado en el robo es buscado por las autoridades. mÁs adelante, la corte suprema le permitirÁ a las autoridades estatales enjuiciar a inmigrantes que utilicen nÚmeros de seguro social fa hola ¿sabes quién soy? soy todos los latinos que viven en este país. soy el que vino y se quedó. y el que nació aquí. y la que trajeron de pequeña, to dream big. sí. soy cada latino que cuenta en el censo para tener un mejor futuro: mejores escuelas, más clínicas de salud o centros comunitarios y de recreación. el censo es seguro y por ley tu información personal está protegida. ¡el censo ya viene! dale forma a tu futuro. empieza aquÍ. ramÓn: la corte suprema de justicia dictaminÓ que los estados pueden enjuiciar a los inmigrantes que usen nÚmeros de seguro social falsos para conseguir empleo. los cinco magistrados determinaron que los estados podrÁn desempeÑar un pa

and the ub novembnumber of deat gone from 72 to at least 400.signal that americans may experience quarantined life far longer than 15 days. >> this is literally a matter of life and death. we get the facilities up. we get the supplies. we will save lives. if we don't, we will lose lives. >> governor andrew cuomo says 40 to 80% of people across new york state will become infected. he and other governors have been calling for more federal help. >> we are getting some progress. it's not nearly enough. it's not fast enough. we're way behind the curve. >> whatever the states can get, they should be getting. >> the president did say delivery of medical supplies and federal medical stations with thousands of medical beds will go to the hardest hit states. many hospitals have stopped performing elective surgeries. one health care system in new york is barring visitors from the maternity ward, no one but the mother giving birth. all the while, health providers on the front lines are brags themselves. all of this makes congress a stimulus package crucial.

mÁs afectados por la pandemia, nueva york, washington y california, ahÍ van a kru irÁn 4 hospitales, ubhacer anteriormente. >> 19 millones de neoyorquinos obligados a quedarse en casa por orden del gobierno estatal para detener la propagaciÓn del covid-19, en las Últimas horas se sumaron mÁs ciudades. >> este lunes el director nacional de saludado vistiÓ que esta semana las cosas van a empeorar e hizo un llamado a que todos se queden en casa. >> este fin de semana orando paul dio positivo para covarrubias y varios senadores mÁs estan bajo cuarentena voluntaria como medida de precauciÓn. >> gobernadores a lo largo y ancho del paÍs se unen a tomar medidas mÁs estrictas para mitigar la propagaciÓn del covid-19, en massachusetts se ordenÓ el cierre por dos semanas de negocios no esenciales, asÍ tambiÉn es como el distanciamiento social, en michigan se ordenÓ cierre preventivo las prÓximas tres semanas, el estado registra mÁs de mil personas infectadas con coronavirus. >> hay muchÍsimos vuelos que estaban cancelados. >> varios paÍses sudamericanos cierran fronteras dejando a decenas varados

so, when you're hearing ub approximate lick health officials talk about the everyday preventive steps that you should take -- washing your hands often, covering your cough -- these are very important, but we want to make sure we're educating them on what the true risks are and not just these everyday measures but also making sure when we talk about social distancing they know what that means. so, in america, each locality is different in terms of how they're going to respond to the incident. so, you see what's unfolding here in the state of new york versus the state of washington and seattle and all these other areas that are seeing more pockets of outbreaks and the response is happening at the local scale. so, we need to make sure that they understand that each response is dependent on the number of cases and the severity in that particular area. and then listening to the public health officials in that area. >> i want to talk to you and turn to you about media in general. when you look at what's going on, we have these television shows and game shows that don't have audiences anymor

ube uber, lyft and doordash announce they are providing help or those under a 14-day quarantine. the caveat, many of these special benefits won't apply unless the workers have been officially diagnosed with the disease. that's a tough one. we have seen a lot more people impacted than actually contracting the virus. >> right. >> thanks. >>> we have all seen it. fewer >>> one side effect of the coronavirus is the noticeable lack of passengers on bart. >> ripership was down 25% yesterday. ridership. >> it's really noticeable on the bridges. this is the san mateo bridge where there were 8% fewer bridges on the morning seeing big declines. >> down 12% on the bay bridge and 16% on the bridge with many choosing to work from home. >>> the largest move to curb the spread of the virus to date, policy. that policy now covers the entire north american network. >>> pearl jam announced it is postponing its north american tour including sold out concerts. they said seattle has been hit and we have witness how quickly this can escalate. our kids' schools have been cancelled. it was to be held at

. >> it's ub likely that many of the schools will hope before the summer break. >> a breathtaking announcement from the governor. that class in california is likely cancelled for the rest of the school year. >> i think the governor realistic. >> she called the threat of the coronavirus significant. >> this is not something we think is just going to blow over like a cold or flu. >> her works in the mission district. she is not sure how she'll continue working if she has to supervisor her fourth grader while he's out of school for months. >> it's too difficult for me. >> he's in second grade. like most students parents are helping her learn at home. >> i can take her to work with me. i work as a nanny. i just worry about everybody else. >> we have to be able to work and prepare them for the next year. it's crazy. >> so the other aspect is of course the ripple effect. when public schools close, independent schools usually follow suit. as do many preschools. state superintendent is expected to address the concern of teachers, administrators sp parents. >> thank you. a hiring rush is onto get more

. >> it's ub likely that many of the schools will hope before the summer break. >> a breathtaking announcement from the governor. that class in california is likely cancelled for the rest of the school year. >> i think the governor is is is realistic. >> she called the threat of the coronavirus significant. >> this is not something we think is just going to blow over like a cold or flu. >> her works in the mission district. she is not sure how she'll continue working if she has to supervisor her fourth grader while he's out of school for months. >> it's too difficult for me. >> he's in second grade. like most students parents are helping her learn at home. >> i can take her to work with me. i work as a nanny. i just worry about everybody else. >> we have to be able to work and prepare them for the next year. it's crazy. >> so the other aspect is of course the ripple effect. when public schools close, independent schools usually follow suit. as do many preschools. state superintendent is expected to address the concern of teachers, administrators sp parents. >> thank you. a hiring rush is onto

i pointed out some nays that at least come from ubs stanley black & decker, and jetblue.et it, we are not ready for the airlines yet, but if you are adventurous and you want to buy very cheap stock,. >> at least not recommending a cruise line. so i am not going for that yet. they load the home improvement chain and young brands, knock and given a commentary on kfc's new chicken sandwich that has the two glazed donuts for buns, that's yummy brand. as a double digit earnings grower. jack: edson mays in one of that size is double earning. >> don't forget they have the tacos. jack: before we go, bennett went to ask, crazy week, big surge into the close, what you think happens monday, tuesday, wednesday next week? smack another 4%. so i don't thing the volatilities over yet. think we're going to see testing finally happen on the coronavirus here in the united states. we are going to see a spike of cases, the headlines are going to scare people. jack: though put the test that will find it how many people actually have coronavirus that's going to be scary. >> that is going to fr

according to ubs, with the central banks have done is not necessarily give a handout, but it's just aackstop. yousef: thank you very much. look at other measures being taken on the fiscal side, the monetary side, bringing in an aircraft carrier to a coffee brunch as it were. what else do they have up their sleeve? the market is not responding, the patient is on life support. >> the markets are not responding because, i mean, the markets are desperate for cash at the moment. valuations not really being considered too much. people just want to stay in business. what else can they do? the fiscal stimulus packages coming through are helpful and will help replace some of that demand, but these measures do have to be paid for as well. what you've seen in markets is as these fiscal measures are announced, you see real yields at very high levels, and real yields are way too high given the state of the economy and where the economy is heading to. what you really need to see is the continued coordination between fiscal authorities and central banks to bring those real yields lower. they start t

of the outbreak because of coronavirus. 31 new deaths, all of those, all of those in the province of ubht increase in the number of confirmed uk cases and the vast majority are in hubei province and it again fresh evidence that overall, these efforts to try to contain the virus in hubei and stop them from spreading anywhere else in mainland china do seem to be working. we had late last night in terms of new ideas from the government in china to try to essentially still get tens and tens of millions of people back to work. they are relaxing some of the rules on quarantine for migrant workers. there are many workers who have not returned to the eastern cities in china and for anyone outside of hubei in beijing they are relaxing quarantine rule that some have to face. south korea, a country 110w to face. south korea, a country now on a war footing according to its president in terms of its approach to coronavirus, reports of cues, extensive cues over 90 people trying to get hold of face masks and medical equipment and that country forced to prevent the export because the need is so huge. t

joining the conversation fox business dagen mcdowell, campus reform.org editor phillipss and ubs alice mccartney is here. great to see you this morning. dagen, your thoughts, finally an agreement last night. looks like now this can move quickly. chuck schumer in democrats had line. democrats are ready to give unanimous consent to speed up the consideration of this bill and get the job done. that would clear the bill potentially without a formal roll call vote, that is if republicans in the senate get on board and have no objections. it's got to move to the house. nancy pelosi is really hoping for the same thing. unanimous consent. questions about that, but in terms of getting this money to individuals, when you're talking about the checks, could be $3,400 for a family of 4, the treasury is used to collecting money from people and not sending it to them. in '08 when president bush sent checks to people during financial crisis it was sign intoed law february of '13 and then the checks didn't start or the money didn't start going out until late april during the summer. so expect a lot of

it harbor of ubs will join us believe on "bloomberg surveillance" at 8:00 on radio. negative interest rates in the united states of america. francine: yes. it is the one thing that matters and of course will move all other markets. i am looking at, stocks slipping. investors were catching their breath yesterday following a three-day rally in global shares in mid-february. treasury climbing, the dollar heading higher. the best week since 2009, but it is all about negative interest rates and what that means for the rest of the road, tom. tom: an important discussion, right now in rbc as we begin "surveillance" in the morning, to synthesize on a friday, where are we going? schaffrik is the head of global macro strategies. we are thrilled to have you here. peter: good morning. single macrothe theme you think is important? peter: in my mind, that they question is -- what is the market currency pricing in terms of development for the corona crisis? the way that i see it, sort of speaking to a lot of people, what the speed is putting out, i think we have all digested that t

ubs wealth management talking about emergency funding from state and federal government toward developing a vaccine, supporting hospitals, help with supplies. j.p. morgan asset management talking about corporate stimulus , and finally yesterday, francine spoke to philipp hildebrand of blackrock and they were talking about welfare increase and unemployment insurance, so a bit of a wish list in new york on wall street about what they think would be useful for the u.s. to do to alleviate the pain the coronavirus has caused. thank you very much. to one of the ladies who runs global equities for allianz.- the point on anne-marie made, phillip hildebrand was with us saying if we have the u.s. leadership we did in two thousand eight, that is the big question. we have a very present, very strong, very focused readership team that coordinated the event -- very strong, very focused leadership team. >> we have some early examples of how to deal with this crisis from china. one hopes the leaders will be looking to see what we learned there in terms of early then applyingd those. we will have to see h

for the timeyou schedule today, sergio ermotti, the ceo of ubs. i did not get to the etf question. capacity of clients to consider what to do, it is hard to call upon them in these markets, and his subscription, no desire to see the markets go to negative rates in the united states of america. -- tom: good morning, and thank you so much. you see that in the data, it is nuanced and speaks to what manus was talking about within the bond and currency markets, what are the signals of bottom? what i would focus on, we have the traditional data where the dow closed and the vix elevated above 60. the two year yield in the united states lowered today, signaling even with the other dynamics within the credit marker -- market, the two year yield signaling the fed to settle down to lower rates forever. the bloomberg financial conditions index, a soup of good credit measurements, still very much extended well over six standard deviations. is that lehman catastrophe bad? no, but it is a terrible statistic. francine: it certainly is. european stocks are down, u.s. equity futures down. i am focus

the corona bonds -- francine: let's get back to huw van steenis of ubs.ona bonds the only way that europe can show solidarity? or will something like the esm huw:fficient? she -- corona bonds will be helpful. socialize not the fault of any individual country. use. are other routes to it could be continued qe infinity, the ecb continues to buy for very long period of time. the coronavirus bonds will be the best outcome. you look at the bank of england and what they have done in concert with treasury, they seem to have done it quicker than other countries. is it because of the way the u.k. works makes it easier? or is it because they governor carney, when he started the in 2008? huw: there's some lessons that governor carney made that made this easier. -- anstance, the fact predigital body, all of which were taught and communicated in engaging with each other. ,ne consequence in this crisis the ecb is a macro prudential body bring this together. number two, the changes governor carney, they have really been reopened at an extraordinary rate. the correlation

coming up, mike ryan, ubs global wealth management america's cio will be joining us. when the 10 year yield is around zero point percent? around 0.6%? this is bloomberg. ♪ ♪ alix: welcome to "bloomberg daybreak" on this tuesday, march 10. let's take it from the top. that are tailored to particular sectors that are very badly hit. alix: countries play catch up now, saying they stand ready with fiscal stimulus if needed. japan sets of the legal framework to let prime minister shinzo abe declare a state of emergency as they put together a ¥430 billion fiscal support package. --enda: they have been criticized for a slow response to the virus. they have put in place a system that will allow them to declare a state of emergency if things get worse. alix: in europe, a similar story, as french finance armster issues a call to and italy goes into lockdown. is better toay it stay home now rather to allow for more cases and higher rate of virus victims. alix: in the u.s., president trump says he will unveil plans for fiscal relief. pres. trump: very substantial relief. it's a bi

could be worse than the 2008 global financial crisis joining me on the phone line is mark haefele, ubsmanager. thank you. let's start there. how are people feeling about their investments? seeing these wild swings in the market, and what are you telling them >> caller: thank you, courtney it is a great place to start i think one of the perspectives we can give people is just how around the world, people are seeing different things and in a different place based on how long they've been living with this virus and the opportunities locally. in asia, we have a lot of clients who are looking at global opportunities and looking at things like the 5g rollout in asia which could be accelerated out of this crisis or because of this crisis and looking for opportunities. >> not that long ago, it seemed you could throw a dart and have a decent return. do you have to be very careful what you are investing in right now? for example 5g >> that's a good question. we would like to be careful. whether they are relative or absolute value as we look at the scenario now, you mention this activity. investo