Government, United States, Donald Trump discussed on Bloomberg Daybreak: Europe
Massive new package may not be enough, Apparently, Carolina. Certainly, businesses say there's going to be property mass unemployment anyway. Yeah, the job support scheme. Hey, spent a long time going through all of the points and the support for different businesses in Parliament yesterday, But actually, the big question afterwards was our business is just gonna make redundancies and then the high people part time or is freelances because the amount of money that the government is giving Two employers is going to diminish, and that's the bottom line, isn't it? Having said that Russia we've also got some interesting stuff in the program all Green segment this morning a decade to ditch your gas guzzler. The UK is considering bringing forwards its ban on combustion engine cars to 2030. So can we get the infrastructure done in just a decade? The national grid's Graham Cooper will be joining us this hour. Yeah, Where can you charge your car with a new cry and, of course, the U. S election. We did see that doubt about whether there'll be an orderly transfer of power, possibly a delayed outcome in November. Donald Trump beating that up, But Goldman Sachs saying, Frankly, it's a tail risk. Yeah, absolutely. Let's take you to the markets now bring you up to speed this Friday morning. We check the markets for you every 15 minutes Here, of course on Bloomberg Radio, so that US stimulus package back on the table. Perhaps it whips or the S and P 500 yesterday. Now, stocks in Asia are gaining along with futures. The exception, though, is actually in China, where we haven't seen such big gains in the Shanghai comp still in negative territory this morning, But overall, the embassy I, Asia Pacific is up six hence, of 1% looking at the futures markets, then For the U. S Open. Maybe 500 many features up 6/10 of 1% U. S stocks 50 features also gaining 6/10 of 1%. Even though Europe is emerging now as a hot spot of covert 19. Are we heading actually, for the worst week since June for European stocks, or do we see a change today in the US stock 600? Of course it fell, but 1% Yesterday. As for the bond markets, Treasuries little change this morning. The dollar also USC of that 67 basis points right now. Chinese sovereign bonds one inclusion into a key index of that really spurred an early rally in the yuan this morning, but the one actually offshore little changed right now, 648282. Gold and oil, both gaining Roger right. Let's cross over to Sydney with Garfield Reynolds. The markets live team joins us as Caroline was saying they got hit, So it's quite a mixed sort of mourning. But stocks and futures are rising investors, I guess looking at the chances of a new US stimulus package, so how sustainable is the optimism? Well, I'm not even short really counts is optimism may be just a pause for breath. It would probably be the best way to characterize it. Yes, US. Futures are up, but they haven't got back past yesterday's entered I Hi. For the for the S and P. 500, for example. And the move in Asian markets a pretty calm. The only exception is Australia and that has been driven by an idiosyncratic Moved where the government has promised to relax lending criteria that set off a huge rally in banks, which account for about 25% of the index. So If there's optimism, it's very well she ordered, and that's understandable going into the weekend. Where you've got, Trump said. That's when he will announce his pick to replace Ruth by the Ginsburg on the Supreme Court. So there's a lot of political baggage that Goes with that. There's no clarity what's over about stimulus whether they might reach some sort of agreement or make steps towards some sort of agreement. I'm whether they could make that stand up if it got to the houses of Parliament and also whether they could find anything acceptable to Donald Trump. So, with all of that going on, uh, next week, being a key political moment, with the debate between Trump and Biden kicking off, I Would think any games that there are will find some fairly swift position. Squaring limit to those types. Could be an interesting week. Next week. Thanks so much. Garfield Garfield Reynolds. They're for real time market. Common trait. Analysis. Check out Mark is life ml ivy on your terminal? Right. Let's take you to our top stories now and we begin with the fallout from which she soon next big economic announcement yesterday. Business here has largely welcomed the government's extension of the cut to the 80 with the C B I Confederation of British industry, saying that the plan will save hundreds of thousands of viable jobs. Others, though, are more critical warning that the job support scheme is more expensive for employers than the schemes in Germany and France, on which it was modeled. Under the scheme. The government's gonna help stop at worker's wages, with employers to at least three quarters off their full time pay, but only staff who could work at least a third of their normal hours will be eligible for the scheme. Now that's fueled concern among hospitality events and retail workers on those on zero hours contracts. Gives to fiscal studies said some jobs that would be viable in the long term, such as those in nightclubs could would not be viable while the government restrictions in place. Labor, meanwhile, is called the economic Recovery plan, too little too late. Meanwhile, there is a growing threat of a rebellion amongst conservative MPs over the government's new virus regulations. Bloomberg Westminster, Sebastian Solid says it comes amid growing unease that parliament is not being consulted. At least 40 stories about Bactine Amendment a review of the Corona Virus Act, and that's approaching the number of rebels that with opposition backing could defeat the government. It matters because the sweeping emergency powers to combat the pandemic come up for six monthly review.