Ins a draw as they say soccer right now. Jonathan im not sure anyone calls Bank Earnings season the great derby. Darby. Y the fixed trading revenue number. Equity sales and trading revenue. Message fromng the the city ceo. Balance sheet a has plenty of capacity to serve clients. This is the continued message that the Balance Sheet is not an issue, this is an earnings issue. The Balance Sheet is still strong. Tom every bank has different language. 20 some billion dollars of cost of credit. Citigroup and jp morgan lifting a little bit. Wells fargo is its own story. Sonali basak joins us now. We have citigroup out here now i want to go back to wells fargo. How broken is wells fargo . A 2. 4 just posted billion loss. Down to is being cut . 10 compared to . 20 expectations and . 51 where it was before. They are putting up a fraction of what they had before. They are jp morgan with relatively solid results in the face of a tough time. Jonathan is there a broad take away yet for all three . A
The economy. We keep edging closer to 3 on the tenyear treasury. 386 as of now. Consider this. More Big Companies are giving bonuses. Uhaul is the latest giving 1,200. Thats stimulus. Paychecks going up. Thats stimulus. Government spending going up. And infrastructure package evolving big spending that looks more and more likely. So what happens to Interest Rates . If they go up sharply, expect a reaction on the stock market. Today, the freeranging immigration debate begins. Well see the infrastructure plan. And just wait until you see how the media fawned over north koreas propaganda chief. And now watch this. The new look Varney Company is about to begin. Stuart i do declare we like it. Look at that. The new look debuts today. I see heavy use of gold. Ashley yes. My only concern is theyve blown the budget for the year, but i do love it. I do love it. Stuart i would like to have been airbrushed a little bit thinner. Liz right . Stuart i like the old. Liz you are smiling. Its sharp and
This is my market talk. What were seeing across the globe is a little less worry emanating from the tensions between the u. S. And north korea. That seems to be showing signs of easing. Shares in europe following asia higher. Climbingk futures also , treasuries down, and yen up. Lets get straight to the bloomberg first word news. Heres Sebastian Salek. Sebastian donald trump has faced more criticism after failing to personally denounced the White Nationalists and neonazis who held a rally in virginia. The white house released a statement saying the president condemns all forms of violence, ty, and hatred. Vice president mike pence made similar remarks in columbia. Groups thatremist need to be pushed out of the public debate entirely and discredited for the hate groups and dangerous Fringe Groups they are. Has refused toe rule out military action to resolve the crisis in venezuela, but he said the u. S. Would prefer a peaceable solution. He and the colombian president said they are look
European political news. It is about currencies and the new zealand centralbank news. When was that, last evening that i saw that . It is wonderful to have Holger Schmieding with us to go over with that signals. Is that a butterfly flapping . Is that the phrase you would use . It is not a small deal. Francine we could open it and see more troubles were Central Banks only looking at new zealand. There is a linkage with currencies. Lets get to the bloomberg first word news with taylor riggs. Taylor the white house commenting on Donald Trumps accusations. The republican candidates as you can blame the white house wreaking havoc in the middle east. Is honoringsis president obama. He is the founder of isis. He is the founder of isis. He is the founder. Lamed trump has long president and Hillary Clinton for creating a power vacuum in iraq that was exploited by the Islamic State. Forces in libya are close to retaking the Islamic State strongholds. There taken over a hall that was used by the
Bull markets, John Templeton observed, “are born on pessimism, grow on skepticism, mature on optimism, and die of euphoria.” It would appear that this market.