tv Bloomberg Daybreak Europe Bloomberg December 8, 2020 1:00am-2:00am EST
♪ >> good morning. from bloomberg's european headquarters, it is 6:00 a.m. in london. inth is daybreak: europe. here is was need to know. make or break. boris johnson heads to brussels to discuss a brexit deal face-to-face with head of the european commission. it is a first for the west. the u.k. begins rolling out vaccines today in what has been labeled the biggest immunization campaign in history. but hurleds remain.
market sentiment softens as ers -- as pfizer tells the u.s. government can cannot supply more vaccines until the summer. we have no break throughs on either side of the atlantaic on two big stories. fiscal stimulus in the united states and brexit in europe. we will be catching up in a moment. we are seeing some softness on equities. john saying this morning this recovery is normal, but there are going to be bumps in the road, and possibly we are seeing that when you look at the covid cases, especially in the united states. you have covid at a record in terms of infections and surging hospitalizations. on top of that, pfizer telling the u.s. government that they cannot supply more vaccine until next summer. in germany, you can see it here. they are weighing more options for potentially stricter lock downs. we do have some soft nelson equities. al
&p futures down two percent. 10 year yield we see holding on to the gains we saw yesterday. i want to take you over to iron ore this morning. $145 a ton. closing in on $150. if you look at the chart on this over the past week or so, it is an insatiable demand we are seeing on the chinese side. some of these markets are picking up. you are seeing a recovery and a lot that have is coming from asia. we have two wales to look at the pound. pound versus dollar 133, we are recouping some of the losses from yesterday. and then the real brexit barometer comes from euro-pound. we are now at 90. ing is saying this morning if we don't get a deal it could top 95 or even go to parity
without a deal. e highest we have gotten was 98 in 2008. we never have gotten to parity. this comes as prime minister boris johnson are -- is heading to brussels. the two concluded on the phone monday evening that a deal remains far off. three main issues continue to remain. fish, governance and a level playing field. maria joins us. the question is, jobs going to brussels, does that mean a deal is more likely? is that what the market should be starting to price in? >> good morning. it is a very difficult question to answer because you have the technicalities. you have the spin that impose into this, the optics we have talked about this week, and the politics kicking in. but i would say, look, yesterday the u.k. team was still righting and briefing the deal could fall apart. there is every chance that we
could not get a deal. we know that for all the matters, talks have now taken a break until they meet. but the reality is that if the prime minister wanted to walk away and wanted to leave the negotiating table, he would have done so by now. he would have left-hand yesterday. the reality is he is getting on a plane to come here to brussels to see the head of the european commission in a meeting we believe is going to take place tomorrow right before the european summit. so they are still talking. they still say they want to get a deal. there are a lot of optics that go into this. the fact that matters is he is coming to brussels to try to get a deal. >> what about the rest of the european leaders. he is going to meet face to face with the e.u. leader. are other european leaders going to have to get involved? >> i have heard many times that the only way this is really going to get resolved is by a phone call between macaroni and
boris johnson. ultimately the french do like to take a tough line on the britts. and for the britts, fishing and fisheries and taking back their water is his a key point to get a deal. what i would say is at this point we don't have any information that contacts are happening between the u.k. and the rest of the european leaders. they have very much delegated this. it is very important to streps that she does not negotiate on behalf of the e.u. 2. e doesn't speak on baffle of macron. it is this idea that you can have a good technical deal, but if it doesn't fly politically, it is not going to ham. see what nt we will happens. >> a busy week for the leaders and certainly a busy week for ma. thank you for joining us. joining the conversation with
us this tuesday morning is janet, investment investor at bruin dolphin. good morning to you. thank you for joining us. i want to begin with pound, which is really the brexit barometer when you look at the financial markets. investors have been complacent until maybe last night. if you look at the volatility on the pound, we see an absolute spike, something we haven't seen since the referendum. are investors finally starting to think that a deal cannot be reached? >> we have been saying that over the past couple of month, the market has been expecting a deal, and they have been quite complacent. .e can see that the volatility is not at a big level. the pound itself has strengthened in the past couple of months. investors don't fully price in the possibility of a deal, but
that is what they have high homes for. as they approach that position period, there is obviously more nervousness around whether we can get a deal. in the recent days, it is quite difficult for the markets. we are seeing more of that now. >> goldman sachs recently said buy british. get your hands on anything related to the u.k. is there a chance, janet, that investors get blindsided? >> yeah. investors will look forward to 2021, and there are some reasons to be optimistic on the u.k. but again, it is heavily dependent on whether we see a deal or not. but i think generally the positive factors are that u.k. is a very oriented sector. they can do better in a world where we have a vaccine and things can get back to normal.
the u.k. is heavily posted to the service factors. we will see how the service factors have performed this year. next year if we see normalization, we will see if the economy can get better. we will see the doubt only. the office of budget responsibility, if we have a no-deal brexit, the g.d.p. is lower o be a few -- two% than forecasted. >> that is lower than what bloomberg is forecasting. they are saying about 1.5%. janet, with no deal potentially, if that becomes the end outcome of these trade negotiations, where does this leave the bank of england? >> well, it would put the wang of evening rand in a very bad and difficult situation. i don't think it is a culprit. the possibility of a no deal
and budget respond. a number of these forecasts happened based on that. it would be very difficult and the economic situation may worsen a bit depending on the sector. we will probably see the sterling weakening significantly. but in terms of the economic outcome, normally they would have to cut interest rates. but it will be a very tricky situation, whether they want to bring that into negative territory whether we have the sterling already. that would be very difficult. that would be even more down side pressure for the pound. >> janet, let's sit on that sterling moment for a second. when you look at it against the dollar, we are at 133. you say there could be more pressure if there no deal what are you pricing in from the owest levels that we could see
for the sterling strers dollar? for the euro level, could we see the sterling hit parity as ing was citing this morning? >> it is very, very difficult o predict. if we do have a no-deal brexit, based on the historical relationship of the possibility of another brexit for sterling, it could go as low as 110 oven the dollar. we could imagine that there is actually still quite a lot of room for sterling to fall. as foreas the euro reaching parity, it could happen if we have a bad scenario f. we do have a no-deal brexit, you have to remember that all the pending agreements, there are financial services, financial security, all these would be difficult to talk about in the future as well. it could potentially be quite a
of all uation because these difficulties and the economic challenges. we may get a deal but in a very last-minute type situation. >> can't like all things happen with european deals. janet saying the sterling could potentially go to 1.10. when i moved here we were in the 1.70's. stay with us. let's get a recap on first word news. >> good morning. bloomberg sources say president-elect biden plans to nominate retired army general lloyd austin as defense secretary. that would make him the first black american to lead the pentagon. he was previously head of u.s. troops in the middle east from 2013 to 2016. the choice comes as bide is under pressure to deliver on his pledge of the most diverse cabinet in u.s. history. hong kong is implementing some
of it's strictest social distancing measures since the pandemic. it is stopping in person dining. it has a surge in coronavirus faces hitting the highest daily levels since august. they say they have no choice but to tighten restrictions. republicans and democrats are struggling to reach a day on a new spending package. they now plan to postpone a friday night deadline for the ball to avoid a government shut down. it is all the budget to fund the government into next year. news at 24 hours a day on "bloomberg quicktake." powered by more than 2 hurkacz 700 journalists. >> thank you for that. coming up on the program, it is a big day for the united kingdom. it becomes the first western nation to begin covid vaccines. that story next. this is bloomberg.
>> good morning. this is bloomberg daybreak: europe. i am andmary in allen do not. the number of u.s. deaths from covid-19 is back up to the peak levels seen in april with record infections sweeping across the country. the united states insists it will have enough vaccine doses being most americans inoculated by next summer. pfizer has told u.s. officials it cannot provide more doses of its coronavirus vaccine until next summer. all eyes are on the united kingdom. it is preparing to beginning covid vaccines across the country, the first western nation to do so, and it will do so today. joining us now is sam, bloomberg intelligence senior pharmaceuticals analyst.
let's kick it off with the united kingdom. it is the day here in the u.k. as we begin the inoculations and the roll-out begins two. things stand out to me on potentially what could put a damper on this. logistics and convincing people that it is safe. what do you make of the current six? are the logistics going to be able to hold up? >> hi and good morning. i think initially lonl particulars won't be an issue for many of these countries rolling it out. if you think about the target audience, everybody talks about the first wave will have for the health care workers, who are obviously all concentrated in hospitals, which is relatively easy. it is almost like a captive audience. and then care homes and long-term care facilities where again you have pretty much a captive audience. this is all about can you actually manage to get that product to them? the problem starts when you start dealing with getting
people like me in and out of regional hospitals, smaller hospitals, clinics. you don't want people who potentially have covid-19 infects, potentially because we don't know, lining up and get a vaccine. they need to come for a specific appointment. that is when it becomes a lot more challenging. >> and people need to go back for a second shot, and a lot of the times we have seen in the past that doesn't always happen, does it, sam? >> that's right. there are two elements here. one, i don't think anybody expects people to have to go back on the dot, on the 21 days post or after the first shot, which is the way the trials were designed. if you go a few days earlier or a week later, it really doesn't matter from an immune perspective. but the point is you have to go still. if you had a nasty reaction to the first one, you had a feature and didn't like it, which happens, are you incentivized so quickly to go back for a second one? >> i want to run throughout numbers in the us united
states. u.s. officials are insisting they will have enough doses of the vaccine, but pfizer according to the "washington post" told u.s. officials they are not going to be able to get them more doses until next summer. what is the state of play right now for the united states in their ramp-up of the roll-out of the the vaccine? >> you know, i'm not sure we know everything that there is to be known about what these deals look like. but if i look at the numbers we have been capturing. if you are only relying on pfizer. they have already signed up 600 million doses in up front deals. that is half of their production in 2021. 100 million are going to the u.s. there is no way pfizer can get more to the u.s. but then you have moderna, which has signed up another 100 million to the u.s. there is more room there. but you are dependent. if you want to hit more than the sort of numbers we talked
about in the united states, you need other vaccines, there is no doubt about it. >> where does this leave the u.s. government then? pfizer already has a number of contracts with other countries. they cannot just drop them, can they, for the united states? >> no, because contracts are contracts. according to our maps today, the u.s. has 200 million doses up front of maderna and pfizer vaccines. that is 200 million people already with no waste. the initial target can be managed. but another has potentially 500 million doses up front. that is why we are waiting on this data on the vaccine. >> and astrazeneca is really not just cruise for the united states, this is a shot that logistically is much more easily to be transmitted ash the world. the fires shot, the level of temperature is as cold as it is
inability arc came. when we get an update on astrazeneca? >> from astrazeneca we are expecting data to be published any day, today or tomorrow. as soon as i come off the phone, it may have been published. once we see that data, which it is not going to look magical like the super efficacy with pfizer and moderna. but it is sufficient to be a useful vaccine to cover that gap. nd another one is novavax. they have 110 million doses of that, too. a lot of what happens going forward in the u.s. depends on these other companies. >> right. sam there from bloomberg intelligence. senior pharmaceuticals analyst and director of research for mia. he will be back the second we get any latest data, especially as we wait for the astrazeneca results. janet back with us this morning
from brewin dolphin. i want to talk about the markets. we did see a bit of pressure from that pfizer news reporting in the "washington post." november was all about global highs for global equities. they were pricing in the fact that we were going to get a vaccine. if we see vaccine hurdles in the months to come, is that going to be an automatic pull-pack from the highs we sit on? >> i think so. the rally started in november, and when you have a lot of things priced in, i think they are vulnerable to some push back if we have bad news on the vaccine. so much niece has been price inside, in recent weeks. every monday we got news from the vaccine side, and we have followed the approval and vent perpetual distribution. we have to remember that some of these are experimental vaccines and a new type.
and it hasn't been deploy inside real life before. the fact that we don't know all, and some people may be skeptical. we will have to look at the vaccine pick up rate. the distribution itself is zult. the pfizer vaccine needs to be stored at extremely low temperature, and you have to have infrastructure to do that. the infrastructure problem may be bad news for market it is that happens. so yeah, i think it could be vull initial to set-back. >> dr. fauci yesterday was saying that after christmas in january he thinks it could be one of the darkest periods in america. of course people may be gathering for the holiday. i just want to get your thoughts briefly on where we stand in fiscal stimulus? is the pain going to be so great in america that d.c. has o choice but to act? >> yes, i think at that point
there is political pressure to that. especially with effective we see signs of a lower market in the u.s. a lot of people have been dropping out of the labor force and joe biden, he called the reports quite grim. there are noises from the democrats and republicans that they feel there is intense flying pressure from the economic side toe reach a deal. right now the deal is really more of a stimulus, like a relief rather than anything that is an extra boost. in s about keeping people extra unemployment benefits. just to read the reports, and keeping con sudgets from the -- consumption from the people. it may be much lower than they are forecasting. there may be some compromise in
annmarie: 6:26 in the city of london. good morning to you. it is set to be the busiest year and record for i.p.o.'s. door dash and air bnb start trading this week. traders willing to pay up even more than he these newly listed companies. here is danny. >> good morning, annmarie. part of what we have seen in this market rally is all the
riskier stuff has done well, especially after the pfizer announcement. the annmarie:'s have more than doubled so far this year. you can see that compared to the benchmark index. if you were a company holding because of g i.p.o. this market, we are going to see record deals. if you are someone like an air bnb, you can get a higher evaluation when you come to market. we have seen just this with them. in its final fundraising round, it was valued at about $26 billion. we heard their target evaluation is $35 billion. yesterday sources telling us that now they are looking at something like $42 billion. this is what it means to i.p.o. in this sort of environment because stocks have rallied. if you are a company like air bnb, which first seems risky
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now it's your turn to lose weight, look great, and be healthy. get off the floor and get on the aerotrainer. go to aerotrainer.com, that's a-e-r-o-trainer.com. ♪ annmarie: good morning. from bloomberg's european headquarters, it is 6:30 in lynn do not. i am annmarie hordern. this is daybreak: europe. these are today's top stories. make or break. boris johnson heads to brussels to discuss a brexit deal face-to-face with the head of the european commission. and a first for the west. the u.k. begins rolling out vaccines today in what has been labeled the biggest immunization campaign in history. but hurdles remain.
market sentiment softens as pfizer tells the u.s. government it cannot supply more vaccines until the summer. very good morning to you. 6:30 a.m. here in london. 7:30 a.m. in brussels. we are waiting for that meeting between boris johnson and ursula von der leyen. we do see some solveness when it comes to global equities this morning. of course last week we were hitting record hiles, potentially investors maybe taking some money off the table. the news looks quite grim when it comes to covid. germany is weighing options to potentially lock down and have stricter restricts. the united states is seeing record infections and a suffrage in hospitalizations. this morning the woupt saying that pfizer is telling the u.s. government it does not have enough vaccines until next summer. receipts put up the board. asia pacific, we are seeing a little bit of of pressure.
stoxx 50 futures, flat. here is what is going on in the bond market. we are holding on to some of the gains. 93 basis points this morning. pretty stable. l.s.u. tear on the price of iron ore. 146. e are closing in on 150. then the pound, 1:33 against the dollar, recouping those losses we had yesterday, but still we are under 1.34. softness. t of the euro is strengthening against the pound. they say if we don't get a deal, we could go to 95 or parity. that is something we have never seen. it is not just the euro or the dollar. this amid rising expectations of a no-deal brexit. it comes ahead of talks between u.k. prime minister boris johnson and european president
ursula von der leyen. juliet, a small boost to sterling. i was talking about ing there saying potentially a lot of weakness. quite a few calls to get through here. let's start with credit edward. it is saying he they could see a modest boost to sterling. they are thinking around 1 been 36. you are seeing what they are calling a bear bond free trade agreement here. there are still quite a lot of sticking pounds, and holing the pound back could be the unresolved rights around fishing rights and competition raws. standard chartered says they are still expecting a deal but that part of the market frustration is every time you see this deadline, it breaks down. as long as the deadline isn't imminent, the final compromise is very hard to achieve. they have a call of 1:35.
they are warning of a profound collapse in sterling if there is no deal, driving it to 95 and possibly touching parity, something we have never seen. the relative cost of hedging a weaker sterling over the coming months, actually staging its longest advance in 17 years. annmarie? annmarie: thank you so much for those. i am sure we are going to get more calls on the pound as the days and hours go on for brexit. that is the market reaction and what investors need to be thinking about in pricing in. joining us now for the political side of the brexit negotiations is kathryn, professor of law at cambridge university. thank you for joining us. i just want to start with where we are right now in the state of play and was think the next 24 hours could bring. we do have boris johnson going to brussels. a fails face meeting with the european commission president. should this be viewed as a positive to the market, or do
you think this is too little, too late for a deal? >> i do think this is something for the market for the simple reason that if there is a deal to be done, boris johnson wants to be in brussels at the scene of the action and taking credit for that deal. i do think this is a very positive sign. i think having a deal brexit is far better than a no-deal brexit, for the simple reason even though any deal will be a very thin one, zero tariffs, zero quotas. there will still be problems on the border. the fact is it will open the way to continued good dialogue between the e.u. and the u.k., and it also may well paiva the way for those crucial unrelated sues such as an adequacy agreement on data and afe quivalent thing on financial
services. annmarie: three key issues remain. fisheries, governance, a level playoff field. these are issues that have remained the entire time. what concessions can johnson give while still maintaining and keeping his guys in line willing to vote for this deal? >> do remember that boris johnson has a majority of 80. but if there is a deal, labor will also vote in favor of the deal. even though he has got perhaps p to 60 or so e.r.g. members who may vote against the deal, with that majority plus labor's backing, he can get it through the house of commons, which is crucial. what about those three issues? you are right. we have been around and around the houses on those three issues. but the fact is there hasn't been high-level political engagement with trying to unblock the problems. until now it has been
echnocratic negotiator levels. their hand have been tied. the prime minister doesn't have those same constraints, and so can make some concessions. the problem is he has got to decide ultimately whether he is prepared to make those concessions to have a deal and thus shuffle the economic load for the u.k. economy at a time when the coronavirus pandemic is still rampaging across the country. annmarie: the other story is the u.k. internal market bill. the plan to retreat it, do you believe that is yet another sign of some softness coming from number 10? >> yes. i think that is right. it was always clear that those clauses would not beness if there was a free trade agreement. on one level it is a concession without substance because those clauses would not be necessary if there was a free trade deal.
i think there was surprise at the highest level in government at the level of backlash against that bill when it first appeared in september. not just from the usual people who you might expect to be opposed, including the labor opposition, but also from within his own party, particularly in the lords, the secretary chamber, where a ers were brexit vociferous in their opposition to the bill. there will be a game work called ping-pong where it goes back to the house of lords. all of this is playing for time to see if there is a deal later this week, or programs going into the week after. deadline , the only is the 31st of december. yes, absolutely any deal has to go through the european
parliament. but remember, the european parliament has the emergency session on the 2th of december. annmarie: it sound like potentially what you are foreshadowing is a working christmas. i want to ask you what this means for other countries who the u.k. needs to establish their own trading deals with. if there wasn't to be a deal, how much leverage do other countries like the united states have on the united kingdom? >> significant leverage. because then the u.k. will be really reliant on those trade deals with the u.s., with australia and with new zealand, to say absolutely we are desperate for a trade deal to show there is a brexit dividend. s we know, and as economists repeatedly matters, gravity matters even in this day and age of the internet. our biggest trading partner is and will be the european union. the e.u. is what, 25 miles away
from the doorstep. that is not the case with the u.s. or canada. because gravity matters, we will continue to trade with the e.u. it is just that our trades will become much less profitable because there will be tariffs on british goods in the event of a no-deal brexit. that is why for the u.k. commonly it is important there is a trade deal. annmarie: thank you so much for joining us this morning. kathryn bernard, professor of e.u. law at cambridge university. foreshadowing a busy working christmas potentially for the leaders around the continent. first word news with laura. good morning. >> thanks, annmarie. e.u. officials are warning that hungary and poland must offer a clear signal that they will lift their vote on the e.u.'s rescue plan or risk losing of billions of euros. that includes pushing ahead with recovery fund but excluding at one time hold-outs. there is no sign that hungary
or poland will give in. japan's new prime minister has unveiled a new stimulus package worth over $700 billion. the plan includes support for medical facilities and homes for the elderly, as well as employment and corporate cash flow. japan's economy surged back in the third quarter, but a surge in infections in recent weeks is likely to slow consumer spending. pfizer and mo dernier won't be attend ago white house summit. the regulator is expected to decide whether to aprove the shots in the coming days. there were concerns that the regulators should not be seen rubbing elbows with company exec tills ahead of the decision. news at 24 hours a day on "bloomberg quicktake," powered countries. in 120 annmarie: thank you. coming up, a record breaking listing.
♪ annmarie: good morning. this is daybreak: europe. i am annmarie hordern in london. now u.s. stimulus talks are stalling. lawmakers are set to postpone a friday night deadline for passing the $908 billion relief package. they are working to resolve key details on state and local aid. in japan, the prime minister has announced a stimulus package of more than $700 billion. he is facing an early testifies of his leadership as an increase in virus cases threatens to stop the economic
recovery in its tracks. jd heath has surge inside the largest stock market ryan day by by a health care company. it is topping more than 100 million users by next year. they say online health care is immune to the clamp down by chinese authorities. he talked to tom mackenzie, who asked about the opportunity to list in hong kong. >> hong kong's capital market is similar to the mainland. it's understanding of health care is similar. china's system is very different from foreign ones. each country's health care industry is relevant to their government policies. that is why we think listing in hong kong is a good choice. >> how are you going to
prioritize putting the capital that you have raised through the i.p.o. to use for the usiness? >> first, we will focus on strengthening our core business. for example, our supply chain, which still has room to improve, even though we are the largest retailers in china's health care sector. secondly, we want to connect our online/offline medical services as soon as possible. third, we want to have some cash reserves. it is good to have cash at any ime in case of any difficulty. in addition, we want to improve the ecosystem of our whole business, including investments or acquisitions. >> how has the pandemic impacted the online health care business here in china? >> from a long-term perspective, the pandemic has
pushed the health care industry forward. a lot more chinese people are now participating in online edical services. china has entered a normalization of epidemic control. but online medical consultation will deadline as the theo epstein peak comes to an end. -- as the epidemic peak do comes to an end. what is a realistic number, what is a realistic target in terms of of user numbers bite end of 2021 for example? >> from my perspective, we are very likely to have more than 100 million users. >> let's talk about competition then. it is a very competitive space th the likes of all bulb health and orioles. how do you differentiate yourselves from your competitors here? >> compared to the entire
chinese health care industry, all the three main players are very small, and we are all trying to change consumer behavior. in light of this, we are business friends on the same mission of encouraging users to use medical services online. we are not necessarily competitors. >> how do you think the new anti-trust laws that china is working on will impact the country's tech sector longer term? >> each industry has different criteria. companies lead into industry can be innovation leader, but so can be the monopolist who curbs innovation. of course, it is necessary to establish standards at government level to define monopolies. we welcome any reasonable overnment regulations. china's health care market is
over $1.5 trillion. but jd heath, even as the number one player is only $1.5 billion. though it is very hard to monopolize the health care arket. annmarie: that was jd heath c.e.o. speaking to tom mackenzie. coming up on the program, a tighter german lock down looms. merkel wants to close shops after christmas. we go there next. this is bloomberg. ♪
we are seeing softness across global equities this morning. john is saying we are in a recovery. this is what the recovery phrase it. but potentially there are some hurleds. it seems to be going on with covid. covid cases rising in the u.s. we are going to get word from berlin. pfizer, the "washington post" reporting overnight that pfizer told the u.s. government they cannot supply them more vaccine than they already have until next summer. what does that mean? it is a historic day in the united kingdom as they begin the roll-out of their vaccine. the s&p 500 is extending losses to .3%. stoxx 50.n the year up want to hone in on what is going on in terms of the pound. we have recouped some of the losses in terms of sterling. 1:34. trading just below
down .3%. for me the brexit barometer when it comes to negotiations and looking at sterling is euro strerling. we are now at 90. ing says if we do not have a deal, we could see 95, and weekend ebb even see parity. we have never seen that. 98. losest was that is if negotiations would falter. we are waiting for boris johnson to make his way to brussels to meet with the european commission. . germany is considering tougher measures to contain the coronavirus. angela merkel told law makers in her kakko us that the current partial lock-down needs to be revised. the newspaper reported that merrick el wants to close shops after christmas until at least january 3. matt mill ser here with us.
happy to have you again. what is going on in germany? there are few reports as well, not just across the names, but in bavaria, things look more grim when it comes to covid-19, the rising infects and what they need to do to their economy to stop that. manus: especially when it comes to the look down. maulet they are looking at bringing a state of emergency into effect on wednesday, tomorrow. that would mean that you have to stay in your house. you can only leave for a few reasons, and a curfew would go into effect from 9:00 p.m. to 5:00 a.m. through the rest of germany, chancellor merrick el wants to call a meeting of the states to try and put into effect a tighter lock-down. we have been under a lock-down since the beginning of november. a looser, lighter sort of lock-down in which we can go to stores, we can go outside. we are allowed to socialize with a few different families
in a larger bubble of sorts. but gyms have been closed, restaurants and bars have been closed and will remain closed until january 10. this is a chance they are wanting to do more. the problem is the infiction rate has risen from the start of the november lock-down until now. so it doesn't seem to have been working. the chancellor wants to avoid any emergencies in i.c.u.'s for example. this is the plan. the biggest problem for her is there have been so many demonstrations here in berlin d across germany from groups who see this as causing more economic trouble than it is worth. annmarie: that was going to be my question, matt. how is the public going to take on more stricter measures across germany when we have already seen some backlash? matt: i think the majority of people in germany want to do what they can to nip this in
the bud so to speak. but you do have the loudest voices protesting more often and doing so without wearing masks and without distancing. of course they have other conspiracy theories that they are prop gating in terms of anti-vaccine mentals, which is also going to be a problem when it comes time to try and stop this with a vaccine. it will be interesting to see how the u.k. deals with that, but certainly here in germany it is a bigger problem than you may have expected it to be. annmarie: thanks for joining us, matt miller, our european open. at ask it for me for daybreak: europe. the french secretary for european affairs speaking to loe radio, saying that they have room, there is room to negotiate on brexit. of course there are going to be
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♪ anna: good morning. welcome to "bloomberg markets: european open." alongside wards, matt miller. as the markets say what happened to america first? fires warns that it won't provide more jacks doses to the u.s. until late june as the u.k. starts inoculations today. stocks and futures split. the catch trade is an hour away. here are your top headlines from the bloomberg mater