In europe. European stocks hitting a 20 bounce up from the bear market in 2020. A little bit of selling on the bond market as growth questions continue and Oil Takes Another leg lower. Lets get right to the bank numbers. Jp morgan shares up by about 2 . They reported blowout fixed income and trading revenue. With us now is Alison Williams is sonali basak. Sonali provisions for loan losses are really skyrocketing here, more than 8 billion expected. A lot of it is coming from the consumer business, where those provisions are more than 5 billion. On the other end of the loan but, we are expecting lower Net Interest Income this year. Also, as one would expect with lower interest rates, that would come into about 55 billion, lower than the 57 billion dollars initially estimated. On the bright side, we saw Net Interest Income for the quarter come in pretty healthy, and fixed income revenue beat by almost 1 billion. Trading was able to hold up. The question is, wasnt able to hold up well in a
Stabilized but that doesnt tell you what is happening beneath the surface. The 10year yielding 0. 8 . Updates on the outbreak in america. We are now more than 4,600 confirmed cases. At least 85 deaths last night, President Trump vowing to backstop u. S. Industries saying the u. S. Will be power fully supporting those Industries Like airlines and others impacted by the virus weigh will be stronger than ever before the eight largest u. S. Banks announcing they will be jointly accessing funding from the Federal Reserve. There has long been a stigma and they are all doing it together Morgan Stanley being the first bank to do it. We should not take anything away from that decision the ceo also happens to be the chairman of the committee that put this group together that went to do this. Joe. Investors are looking for a substantial fiscal response from washington to try to stem the he can economic damage. Reporter we do expect congress to move today not sure when the senate will take action,
Ms. Collins madam president. The presiding officer the senator from maine is recognized. Ms. Collins thank you, madam president. Madam president , the United States is facing a crisis unlike any other in our recent history. Madam president , this is no time for partisanship or for political differences to prevent us from coming together and working in the best interests of the American People. The coronavirus pandemic has arrived on our shores and is growing exponentially, sickening our people and devastating our economy. As of today, more than 26,700 americans have tested positive for the virus, and 340 people have died, while 176 have recovered. In my home state of maine, there are now 89 cases in eight different counties. Hospitals, doctors, and nurses are struggling to triage the influx of patients. Nursing homes are locking down their facilities in an attempt to safeguard their vulnerable residents. Students and teachers have had to transition abruptly to Online Learning as school
Are thrilled to be here today we have a terrific lineup of speakers i will introduce momentarily the ceo of the vaccine alliance. First thank you to our colleagues who put this program together very carefully over many weeks and my partner catherine who we will hear from on the panel. This is a big year of replenishment you hear about that it is the second replenishment in the tenure of ceo data back to 2013 and in that. Reflecting on what has happened during his tenure it is remarkable. The amount of leadership and achievement and change we have seen over the course of this. A continuous process of reworking and improving the transition policy, we have Seen Movement of the institution to a concentrated discussion in advancing Health Security and promoting stockpiles to advance hpv vaccine and looking immunization across the entire lifespan. The institution has been graded at various points with very high marks in terms of gender equity and accountability to shape markets to bring pric
The eu finance minister told an emergency call today. Manus warm welcome. I am in zurich. Its all about the bond market. Andcurve could go negative we run the risk of japan if japanification. Good morning. Did Jerome Powell cut and undercut himself . Is history showing when you have these cuts in meetings, the stock market does not take it well because you get emergency cuts, what it is really saying is the cuts are not effective to solve the underlying problem. Jerome powell did hint at that. Hitequity market took a big as well as the bond market. Inus jp morgan say we are quicksand to negative yielding territory. You saw this collapse in yields. The question is, are treasuries now pricing in an aggressive recession in the United States of america . You have the rate cut from the fed, but was it a bozo in terms of communication . Have a look at gold, have a look at oil. The gold price belies the bigger move. The biggest rally in for years yesterday. We are up 8 this morning. The bigge