Italys Prime Minister said it would derive from properties on h derived from higher Interest Rates. The net income exsceeding the growth for 2022 and 2023 citi estimated that would be equal to 19 of bank net profits for the year the tax would only apply to domestic Net Interest Income if this were to happen in the United States it is not happening i know. I dont know what would happen to the world. It is like when hell freezes over scenario. 40 windfall profit tax on banks. Do you think this is such a game changer that you would ever be in business in italy ever again . I think they view banks as utilities in italy i think investors will think about Certain Industries now at the beck on call of the government it can be wiped out just like that it changes your money. Chinese communist out of nowhere with the Tech Companies in china the trading Certain Industries. In other bank news, moodys cutting ratings with several banks and downgrading the biggest lenders. The credit strengths will
In the meantime, lets talk about the price of bitcoin. It has been volatile. Shot up yesterday in a big way and pulled back after blackrock denied the report, becky. Coin telegraph saying u. S. Regulators approved the application for the spot etf. Everybody cheered and went crazy. Coin telegraph later retracted the story and conducting an internal investigation into the inaccurate report. Blackrock reported the application is still under review. Crypto markets have been waiting news for spot coin etfs which are expected to drive investment in the sector if approved. If because we still dont know. Just because blackrock and fidelity are asking for it, doesnt mean the s. E. C. Has to give it. Do i think there is momentum . Sure. It doesnt lead to the situation. The company that put out the story is now conducting an internal investigation which makes you wonder if they suspect somebody was doing this and making trades based on the story. It wasnt how it happened. Was somebody feeding the
Still when it comes to wage gains. Annabelle thats right. We saw a real wages down 2. 5 from a year earlier in march. That was actually the deepest drop we have seen in four months. The running streak of declines is now 24 months. Certainly there has been a real question for japanese government officials. When they start to see inflation being driven by the demandside or would it still be from the supply side . This is perhaps the numbers that the boj would not want to see at this point in time. But that focus on the back of the wage numbers coming into the boj summary of opinions. A lot of different lines dropping out of this. But this need to raise rates appropriately and at the right time and the need to deepen talks on rate hike timing. Just some of the headlines dropping from that. Also they are saying it is vital to cut bond buying and supply dynamics. Here you have that Market Reaction so far this a slight bit of strength coming into the japanese yen. Nikkei 225 online this morn
The iron dome and their ability to respond to attacks. The political attacks starting almost immediately based on that interview all over the country and the world. A lot of criticism on one side and praise on the other. Its getting complicated quickly. Some in israel and the israeli um far right elements saying hamas loves biden. Some people saying hamas loves biden or some saying michigan over israel a lot of credititique over ther. I dont want to weigh in on it i know whats going on i think its horrific. Its horrific. When you at the beginning know what is clear what israel had to do now one of our greatest allies and the most stable ally in that region of the world and important region of the world and were pulling the rug out from under them. I do. I agree. It goes to what we showed yesterday with that clip the great conundrum of war an to is you have to do it quickly and get in and out the politics of doing it he was making a moral argument he said all of this is questionable he
The twoyear yield is hanging out at 481 on the day. The twoyear got below 480 last week, it has been hovering around these levels, barely changed on the day. 10year yield, similarly a one basis point move. We will talk about it later in the show, but there is some interesting news this week on the issuance front when you look at the auctions from the treasury and the 10 year will be tested. Data movers on the equity side, shares of micron higher after it was upgraded by baird to outperform. Spirit airlines, lets talk about that, hitting a record intraday low after issuing a revenue outlook low analyst estimates. The company noting overcapacity in several key markets like latin america and florida. Down 10 on the day. We want to note a huge move for the bitcoin world, marathon digital chairs climbing now on news that the company is pursuing a strategic organization, overt 70 . The Company Reports after the bell on thursday. Ellen hayes enjoins us to talk about all that is going on in th