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Real Vision: Finance & Investing

Daily Briefing - June 5, 2020

Real Vision: Finance & Investing

Real Vision

Business News, News, Investing, Business

4.11.1K Ratings

🗓️ 5 June 2020

⏱️ 43 minutes

🧾️ Download transcript

Summary

Real Vision CEO Raoul Pal and senior editor Ash Bennington discuss a roaring day on Wall Street as the U.S. labor market breathed a sigh of relief. Looking at everything from tech valuations to the AUD/USD trade, Raoul and Ash dive deeper into this jam-packed news day to see whether the economy really is on the mend. In the intro, Jack Farley touches on these themes and previews Raoul’s interview with Gerard Minack. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

Are you ready for a Monzo Business Bank Account?

0:03.3

Heather from the Accounter's Growth Club was,

0:05.3

knowing what cash I have is really important and Monzo Business makes it easy.

0:09.8

It automatically puts 20% of my income into a tax pot.

0:14.0

When it's time to pay your VAT, I always know the money's there.

0:17.0

If you're ready for a Monzo business account, apply today.

0:20.0

Just search Monzo Business. Only sole traders or limited company directors in the UK can apply.

0:25.0

Get tax pots with Monzo Business Pro for £5 a month.

0:28.1

Te's and sees apply. It's Friday, June 5th, 2020, just after market close in New York.

0:47.0

This is the Real Vision Daily Briefing.

0:50.0

I'm Ash Bennington from New York, joined shortly by our CEO and co-founder Raal Powell in the Cayman Islands.

0:55.9

But first, Jack Farley with the latest on the jobs report.

0:59.8

Thanks, Ash.

1:00.8

It's Jobs Day, and today we saw a rare glimmer of hope from the US labor market.

1:05.0

Looking at non-farm payrolls, the US economy added 2.5 million new jobs in May

1:10.0

defying the dismal 7.5 million job losses forecasted by economists.

1:15.3

Manufacturing payrolls came in at a robust 225,000,

1:19.2

much better than the 400,000 losses that were expected.

1:22.3

The unemployment rate was expected to reach 19%. the production and classified as employed, were absent from work.

1:43.3

And if these workers had been counted as unemployed,

1:46.5

the unemployment rate would have been about three percentage points higher.

1:50.5

Amid this good news, there was a frenzy in Wall Street today for risk assets with the

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