Hello, this is bbc news, the headlines. David cameron accuses borisjohnson of only backing leave, in order to further his own political career. But the brexit secretary insists thats not the case. Remain would have been the easier career choice so borisjohnson led the campaign, he did so because he believes in brexit and is committed to delivering it. Former conservative minister sam gyimah defects to the liberal democrats, after he lost the tory whip, for rebelling over brexit. The liberal democrat leader jo swinson will be taking questions from Party Members at their conference, at ten past two this afternoon well have live coverage, on the bbc news channel. The former International Rugby star, Gareth Thomas, reveals he is hiv positive saying he wants to help reduce the stigma around the condition. Iran dismisses accusations made by the us, that it was responsible for two drone attacks, that have crippled saudi oil production. Protestors are gathering outside the british consulate in
And everybody gets eaten you know theyve destroyed the economy in so many ways there was only one place to go and that was to destroy themselves and now these banks are imploding the Interest Rate model is dead as talked about as referenced you can make any difference between the difference between different time values of money and so now this is the end game of monitor there is asian and neo liberalism we get to watch it now life time the social fallout will be spectacular we already see uprisings all over the world get ready for the global insurrection against banker occupation so break up fireworks maybe its time to go big yes so in particular these are the European Banks we see the European Banks suffering the most we see their stock prices has have collapsed we see their bonds collapsing we see like for example j. P. Morgan enjoys a bank at the beginning of this financial crisis in 2008 they were roughly the same size now. J. P. Morgan is about 10 times the size of Deutsche Bank
Morgan is about 10 times the size of of Deutsche Bank since the fan actual crisis and this is partly because of e c vs intentional policy as you mentioned you know that its a simple easy game right of banking do you borrow short term from the fed or the treasury or the e. C. B. And you lend long to mortgage holders and stuff like that the 10 year buns yield it around 1. 00 Percentage Points more than 2 year issues in historical terms currently the difference is just under a 0. 2 percent so theyre losing money hand over fist theyre not able to pass it on to their clients right now theyre trying to pass the these costs on to their High Net Worth clients because those are the ones with a lot more money but heres a quote from the article that is exactly quoting from like kaiser what weve talked about and how radical the situation is at the moment people dont understand like how radical Central Bank Policy has been since the. Financial crisis and they say historically banks need money out o
S p 500 ended in the red check out these moves from citi, bank of america, wells fargo and jpmorgan all in the green. Few days ago rates were plunging birds and cats were living together now look have the banks turned a big corner i dont know about dogs and cats living together if you had to be a cat or a dog i think of myself as a dog. Its not a good question to answer on tv lets go to the markets i think what happened everything got ahead of itself. You go back to tuesday i think before memorial day we power pitched southeast banks. Citi, you know what boring market, slow week, into a holiday, market will rally tl tee gott ahead of itself. When citi discount at that discount tangible book its been a buy. Thats whats happening. I dont think again the landscape has gotten better for the markets. The trading landscape in the short term has does citi have more room yeah well undershot to 61. The head wind that they face still exist today. There are some rays of sunshine based on what the
Thats simply nailing it its time to risk less and make more options action starts right now. Lets get right to it. With august coming to a close, its going to soon be time to put away the sunblock, break out the sweaters the weather could put a chill on travel stocks. Theyve had a hot run so far this year, but the chart master says he is starting to have reservations carter worth is over at the plasma to break it down. Take it away. It is more about the consumer, right . Is the consumer in good shape or isnt it theres so many ways to make the case either way. But i thought we would focus on something we havent done in a while which is hotels, resorts and cruises. This is actually an s p 500 Industry Group, and these are the five names, and Everybody Knows those names, right big hotels, and then the three cruise liners. Now, lets look at some charts and try to pull together the thesis what we have over the past decade is a pretty nice fit between this sub Industry Group, hotels, resorts