P president driscoll, you may start the migrant. Meeting. Due to covid19 and the Governor Newsom and mayor breed have lifted the tre tree restrictionn teleconference, this meeting is being held teleconference. In our published notice and on the web page we ask the public to participate remotely by writing to the board or by leaving a voice mail manage. I will ask all members of the board to mute themselves to minimize background noise and keep your cell phone remote, as well. Board members will unmute themselves to comment. There is staff in the background managing the Technology Functions during the meeting to switch from my slide presentation to whom ever is speaking at that moment. Thank you to all who have put this meeting together. Technology and this device is increasing and there will be more changes, all to make the meeting and the interaction go smoother. At this point, can we ask ase commissioner to unshare his screen. Square with arrow and not an x. Thank you. Item number 13
Energy stocks and financials are leading the overall market, while safe havens outperform well discuss the impact on the coyne vines. Dr. Anthony fauci will join us he is part of President Trumps task force on fighting the virus. Steve weiss is join joinin for the hour. What do you. I think the market should take it in stride. Weve had other Companies Come out and talk about the virus they make chips that go into handsets in china and primarily asia, also tmobile here they had they were lowering their forecast youve had other come out. And ive talked about it on the Halftime Report but we all spoke to micro, but in it continues, invariably it would continue in my view you take opportunities to get further invested if youre underinvested in certain names, because its a one or twoquarter phenomenon. It wont impact what i view as the supercycle in invests particularly in semis. So what the market is pretty much ignoring today are what a lot of people ignoring, the test it is companies, su
Nejra welcome to daybreak europe. If you are getting ready to kick off new years eve celebrations, were not seeing a lot of that in risk assets today. Quite a number of markets, bear in mind, are close today, including japan. We dont have the cash treasury trade either. A little bit of red on the screen. U. S. Futures perhaps pointing to a stronger open. A stellar year for Global Equities in general, the best year since 2009 the best year since. Fx, a fourth down day for the bloomberg dollar index, all the g10 currencies gaining against the greenback. Dollaryen, seeing yen strength at 108. 69. Euro near a 12month high. Butslipping a little today oil is heading for its best year since 2016. In china, a little optimism, even though it may not lift the market. The gauge of chinas Manufacturing Sector held steady in december, evidence the worlds secondlargest economy is stabilizing. The outlook for new export orders expanded for the First Time Since may 2018. On the trade front, deleting w
Moving news from all around the world from frankfurt, to london, taiwan, our bloomberg two iowa, our bloomberg voices are on the ground. Commodities leading the charge for the quarter. Here for more is bloombergs sonali basak. Income net interest coming in above analyst expectations is a great thing for bank of america because it shows the bank is doing what a bank should do. That is loan growing, deposits growing. Investment banking mergers and acquisition fell short than expectations, but we are seeing that across the board. We want to see confidence among corporate clients now that we know consumers are holding steady. Alix what were some of the worries through the quarter . Sonali the expenses were up, but bank of america was a costcutting story. Something we are hearing from all of the banks is the propensity to keep investing because the cycle is getting competitive at this moment. Alix thank you very much. Now i want to go to the latest on trade. President trump is ready to sign
Secretary Steven Mnuchin on the u. S. Economy and Financial Stability. He talks about Digital Currency, World Bank Lending at the potential impact of Climate Change. Ready to go . The committee will come to order. Without objection, the chair is authorized to declare a recess of the committee at any time. This hearing is entitled promoting stability, reviewing the administrations regular approach to Financial Stability. I want to inform all concerned that this meeting will end at 1 p. M. Per the request of the secretary. I now recognize myself for four minister give an opening statement. So let me welcome back secretary mnuchin. Today we are here to discuss the Trump Administrations actions that have undermined and not promoted our nations Financial Stability. As ive said many times before, i am very concerned about this administrations actions to eliminate important protections for consumers, investors and our economy. It appears that our banking regulators are following that te dereg