Daily Briefing - June 25, 2020

Real Vision: Finance & Investing

Real Vision

Investing, Business News, News, Business

4.1 • 1.1K Ratings

🗓️ 25 June 2020

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

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Summary

Senior editor Ash Bennington and managing editor Ed Harrison break down the latest economic data amid a bullish day on Wall Street. They discuss the rising infections in states like Texas, Arizona, and Florida, and they take a data-driven look at the apparent stalling of the jobs recovery and the reversal of the durable goods slowdown. Ash looks at how peoples’ marginal propensity to spend is affecting the recovery, while Ed explores whether different asset classes are pricing in different recovery “shapes” (equities pricing in a V-shape, high-yield pricing in a Nike swoosh, and investment grade pricing in a “reverse radical”). In the intro, Nick Correa discusses what's happening in Texas and how the virus spread undetected for several weeks before the US locked down. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	It's Thursday, June 25th, 2020, just after market closed in New York.
0:17.0	This is the Real Vision Daily Briefing.
0:20.0	I'm Ash Bennington in New York.
0:22.0	Roger Hurst is on assignment today.
0:24.4	We're joined shortly by Ed Harrison from Washington, D.C.
0:28.6	But first, Nick Carrhea with the day's stories.
0:31.6	Thanks, Ash. Today, Texas Governor Greg Abbott issued an
0:34.8	executive order to Bear, Dallas, Harris, and Travis counties, those most impacted by
0:39.5	the rise in cases to suspend elective surgeries in order to free up hospital bed and increase capacity.
0:45.7	In the executive order, Governor Abbott said, quote, as Texas faces arise in COVID-19 cases,
0:51.4	we are focused on both slowing the spread of this virus and maintaining
0:55.3	sufficient hospital capacity for COVID-19 patients."
0:58.0	End quote.
0:59.0	Statewide, Texas reported 4,389 hospitalizations started to
1:04.3	concentrated in the Dallas and Houston areas. The amount of
1:07.1	hospitalizations started to explode only about two weeks ago.
1:10.5	Governor Abbott also has halted the state's reopening plans and
1:13.4	highly encouraged residents to stay home. He said quote the safest place for you is
1:17.8	at your home because the spread is so rapid right now there's never a reason for
1:21.8	you to leave your home unless you need to go out.
1:24.0	It's deja vu, isn't it? Yesterday, the U.S. recorded over 35,000 new positive cases, numbers that
1:29.9	rise to the level of cases during the worst of the epidemic in April.
	...

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