Bringing housing and affairs will come to order. Thank you from our eight witnesses today. Senator, thank you for your work on this. The eight bank ceos appearing before us today lead the biggest global systemically important banks of the United States of america, your banks hold nearly 15 trillion in assets, manage trillions of dollars of investments and retirement accounts, fund the Biggest Companies in our country. You hold nearly half the nations deposits, more than 80 trillion in client assets, your banks touch almost every aspect of our Financial System and working americans money, even if they are not your customers. All of that makes you eight of the most powerful people in the country, the banks iran are so large, so complex, so interconnected, that their distress or failure could pose a threat to the entire global Financial System. You may be private companies, but the risks you take and the mistakes you make dont just affect you, they dont even just affect your customers, no
Goldman sachs, wells fargo. Senate Banking Committee oversight hearing is about 3 hours. Senator scott, thank you for your work on this. The eight bank ceos appearing before us today lead the biggest global systematic banks in the United States of america. Your banks hold nearly 15 trillion in assets, manage trillions of dollars of investments and retirement accounts, fund the Biggest Companies in the country. You hold nearly half of the nations deposits, more than 80 trillion in client assets. Your banks touch almost every aspect of our Financial System in workingamericans money even if they are not your customers. You may be private companies but the mistakes you make dont just affect you, they dont even affect just your shareholders or just your workers, the mistakes you make affect the whole economy and as we remember from 2008, 2009 they can certainly affect american taxpayers. That amount of enormous power should also come with enormous responsibility. We finally have financial w
Year, and not for someone there, for a candidate, there for some other persons, these were protests against some unbearable cruelty, today there is so much of this violence, its just up to the neck, the tv, news, internet, wars are turned on, murders, coups, from africa there and ending with the same ukraine, and what do people compare, but here the blue butt is on one side, which means the scales are on the other side, here is a fullfledged war with nuclear weapons, so yes, people make this choice, because they want to live normally, thats it our normal need of society, and this is absolutely natural , when i listen to the president , i remember one phrase of his that really. Stuck with me and which is probably the leitmotif of my even Political Activities and probably everyone should understand it, no one will ever destroy us from the outside, this is impossible, but only from the inside, and when the president says that we need to do real things, this is precisely so that they are n
Selling treasuries but more about inflation showing up in the u. S. , the risk that keeps most Market Participants awake at night. The treasury market, it is more important what the actions are coming out of europe and japan. The fed unwinding its balance sheet, we have seen from the boj, they are making extrapolate,h we slow purchases as well. It is poised to stop many polluting the most important price in the world, the 10year treasury. 14 trillion worth of bonds bought by Central Banks in the past 4, 5 years. That appears to be close to an end. Market is not dead, it is just dealing in a bearish trend that a lot of people in the market have not seen before. , we have put in a structure secular low in yields, 130, 140 on the 10year. To say we are in a bond bear market is still premature. Jonathan joining me is matthew , andach, priya misra michael buchanan. Were you shaking this week . I dont think so. There were a couple of stories or under this week that said yields higher. Obvious
About inflation showing up in the u. S. , the risk that keeps most Market Participants awake at night. I think for the treasury market, it is far more important what the actions are coming out of europe and japan. You have not only the fed unwinding its balance sheet, we have the ecb slowing purchases, what we have seen from the boj, they are making changes, which we extrapolate, slow purchases as well. Is poised to take its foam of the scale, and poised to stop manipulating the 10year treasury. 14 trillion worth of bonds bought by Central Banks in the past 45 years. That appears to be close to an end. The bond market is not dead, it is just dealing in a bearish trend that a lot of people in the market have not seen before. They have to learn how to do it. We have put in a structure, secular low in yields, 130, 140 on the 10year. To say we are in a bond bear market is still premature. Jonathan joining me is Matthew Hornbach, priya misra, and michael buchanan. The bond bull, were you sh