Good morning from the Financial Times. Today is Thursday, May 21st, and this is your F.T. news briefing.

Payne in the retail industry is spreading to the mortgage-backed bond market. Plus the coronavirus crisis is is groups are looking to get in on the potential business.

But first, the director of the US Centers for Disease Control

and Prevention is warning of another possible coronavirus

flare-up later this year.

I'm Mark Filipino, and here's the news you need to start your day.

To avoid another public health crisis, the U.S. is going to have to rapidly ramp up its disease

tracking capabilities in the next few months. That's the warning from the head of the US Centers for Disease

Control, Dr Robert Redfield. He spoke to our coronavirus correspondent David Crow yesterday.

Dr. Redfield also said he's not ruling out the possibility of the US having to lock down the economy again.

Here's David. There is a possibility that the US might have to lock down the economy again.

If a number of things happen, the coronavirus comes back in the autumn and winter and he sounded pretty certain that that was going to happen and so if social distancing and mitigation strategies that the

CDC is trying to put in place fail then he said he couldn't guarantee that there wouldn't be another lockdown.

So he's not saying outright this will happen but there is a possibility of it happening.

Is that right?

Exactly.

I mean none of us know, right?

I mean, he said he was confident and hopeful

and optimistic that the CDC guidelines

on how we should all lead our lives

over the next few months would be sufficient to prevent

another lockdown. But he said he couldn't guarantee that. He said that would get into the realm

...