Experts who well introduce you to in a minute. But before that, let me just set the stage here. As you all know, the financial crisis changed the Banking System. The resolutions that happened in the crisis integrated commercial and Investment Banking like never before. These resolutions created todays too big to fail institutions. The crisis led to greatly expanded fed emergency liquidity support. The fed became the lender of first resort instead of the lender of last resort. T. A. R. P. Temporarily nationalized the Banking System, and the Congress Passed the dodd frank act to extend post t. A. R. P. Control over the system. It gave regulators extensive new powers and responsibilities over the Financial System. Deposit insurance limits increase by a factor of twoandahalf, and the slow recovery triggered fed qe stimulus, which created massive Bank Reserves, which required new fed operating procedures. So this morning, were going to discuss all these changes with a panel of experts. And
Rishaad we are looking at Southeast Asian banks. A very competitive market out there. We have new entries to make it even more competitive. Have a look at this. This is a bloomberg chart. As jack ma changing lines of partnerships around the world. 450 Million People have limited access to Banking Services and, buying vying for core customers. We have seen how sales at alibaba have been going up exponentially. This will go up with other internet superstars out of china getting into the action. Absolutely. We are always still watching for that potential ipo, that crown jewel of alibaba. Look at the numbers compared to amazon prime day, we are expecting somewhere south of one billion. 18aw sales of almost billion last year for alibabas day. We are around 30 minutes from the open in hong kong and china. Janet yellens testimony to congress is on everyones mind. We are kicking off Earnings Seasons for the Second Quarter as well. Singapore, taiwan, and malaysia are coming on as well. Sophie t
Need to know ahead of those numbers. We are coming off of another record close for the dow industrials, 24th alltime high this year. Futures indicating a bit of a pullback this morning, fractional move coming off the high. Dow industrials set to open up ten points and whether or not that changes things. The european markets are mixed, european indices as you see there, majors are flat. In asia overnight gains across the board to report, fractional moves, nonetheless but in the plus column. Planet of the apes swinging back into theaters full Box Office Preview later this hour. Joining me to talk about it Dagen Mcdowell, kings View Asset Management scott martin is here and research chief, Research Officer. Good see you. Dagen great to see you, coming up we were at the Berkeley Center for the third stop at the Connor McgregorFloyd Mayweather. You interviewed him. Dagen youve gotten paid, not so much. We have a very heated debate about who can win fight. I will put money down on the fact t
We have a great show to kick off a big week for the markets. We will discuss what 2017 holds for u. S. Monetary policy. As italy lines up another new premier, in turkey comes to terms with the bombing istanbul, we will focus on the market and Political Risk in europe. As crude oil surges, we also speak live to the Nigerian Petroleum minister on surveillance at 9 40 u. K. Time. Lets check on the markets. This is a picture for oil, gaining 5. 1 at 54. It surged the highest in 17 months as efforts to cut production sent the 10year treasury yield above 2. 5 . Chinese equities tumbling. European shares holding to what we saw last week, pretty much flat. Lets get to the bloomberg first word news. Heres nejra cehic. Nejra president elect donald trump says hes close to naming his secretary of state, dropping hints it could be exxon mobils ceo. A person close to the transition on hasnt beenrs formally offered the job yet but is likely to be the pick. Italys prize minister designate has been hol
This is the second hour of daybreak asia coming to live from bloomberg. Im in hong kong where it is just after 8 00 a. M. We knew the fed may be a factor today, and it was in the markets. Janet yellen surprisingly not surprising the markets with anything different except she did not back away at all from rate rises this year. The markets as we talked earlier more hawkish that the rate rises might come earlier than expected. It was interesting. It was a different story anyway. It was a tell him that she delivered it. Trump or not we are going to raise rates. Much what has gone on here in the markets in asia, lets see how things are kicking off in tokyo and seoul. Know,pondent as you well it is not what you say, it is how you say it. This. Looking at these are the levels where we start off our trading session. 24. 44 you also have inflation coming in slightly below estimates. Dollaryen, 114. 50 was your high. One, a little higher than expectation. Fallingr cured see i am currency i am fo