from his home in the suburbs, xu reflected on his relative good fortune.h men, the threat of a backlash against people of wuhan was a constant concern. after 76 days of lockdown, the trains were lined up and ready to go. the barriers taken down from the highways and wuhan reopened its links to the outside world. their offices have reopened but during the three months lockdown, senguo like fenjin robotics lost 3 million yen. almost 500,000 dollars. completely wiping out 2019's profits. they remain upbeat but senguo and fenjin robotics now face an uncertain future, as china tries to reinvigorate its economy. but the after—effects of the epidemic can be seen and felt across wuhan. and it's difficult to predict what the long—term impact will be on the residents of the city whose name will be forever etched in our collective memory. many, like tiesen, would rather forget. hello. after the warmth and sunshine of last weekend, this weekend has been very different. it has been cool and pretty windy. we have seen rain at times, the winds will ease through the rest

if we take a longer-term look, we are now joined by dino by xu take away the fears of the second waveit could change everything. economically are rebounding. what does that mean for markets? are we going to just see ever higher markets, or will we do a correction? >> good morning. i think it is starting with what is already priced in. in the beginning few months, you will see a numbers both in the service improving. the question is whether or not that they can sustain real spending, consumer sentiment, whether that can sustain. i think in the first couple of months, it will flatten out after that. the markets will all be pricing in global growth because of the long-term average. in thisets were pricing as a simple income statement blip. which i think is wrong. of -- i think% that is a huge issue, the labor market is a huge issue for previous recessions, and that -- despiteonsumer the amount of stimulus, i think it suggests that the markets will be overpriced on optimism and they will become -- this means they come off to different degrees, depending on which sector of the market has t

jim: we are neutral to u.s., we are slightly underweight and developed xus.rily think about europe and japan, it has had a much better experience in keeping the virus suppressed. there's a chance they will start to perform better. em, we think, it is the most vulnerable to the virus. it has the least developed health care systems. for got the most compressed populations, most multigenerational families living together. there at the most risk in a risk off environment. we have a relatively large underweight on equities. shery: northern trust chief investment tread adjust jim mcdonald joining us from chicago with the latest on the u.s. and bond markets. take a look at what markets are doing at the moment because we are seeing u.s. futures under a little bit of pressure right now, but as we mentioned, after coming off the best quarter in more than two decades. we have some positive vika data, consumer confidence posting its biggest increase since 2011. that helped propel u.s. stocks. at the moment, we are seeing kiwi stocks holding steady. this as we had already

hand you xu of credit suisse and she believes the markets are off 10%, and i don't know what it is about the 10% number or level or what it is about that, but 10% seems to be the magic downside risk number. >> right well correction by definition, that's where you are also relative to the moves we've had, 10% seems like, yeah this is fair we could take a breather down 10% and 10% pullback is quite painful. i think the -- let's be clear. this will be a pretty funny shaped "w" no matter what it looks like because if you look at semiconductors, she talked about the nasdaq the semiconductors are all of the way back to their highs and these prognostications when analysts have decided to throw 2020 and largely 2021 earnings out the window and the fed is here if you talked about the vix. i think the vix can go lower as long as the fed is where they are, i think the vix will be damped down and that's the trend of the last couple of years. >> karen, last thoughts? >> well, i like that she did say she's seeing volatility rise in the options for the industrials and the financials and that's maybe wh

. ♪ xus will welcome you back with exceptional offers.up to 90 days on all 2020 lexus models. experience amazing at your lexus dealer. experience amazing apps except work.rywhere... why is that? is it because people love filling out forms? maybe they like checking with their supervisor to see how much vacation time they have. or sending corporate their expense reports. i'll let you in on a little secret. they don't. by empowering employees to manage their own tasks, paycom frees you to focus on the business of business. to learn more, visit paycom.com i've been on and off oral steroids to manage my asthma. does that sound normal to you? it's time for a nunormal with nucala. my nunormal: fewer asthma attacks. my nunormal: less oral steroids. nucala is a once-monthly add-on injection for severe eosinophilic asthma. it targets and reduces eosinophils, a key cause of severe asthma. nucala is proven to help prevent severe asthma attacks and reduce the need for oral steroids. nucala is not for sudden breathing problems. allergic reactions can o