Ben, i want to start with you. We got a glimmer of hope as we see maybe social distancing is actual working, the growth of coronavirus cases is slowing. We also, of course, had unprecedented moved by the moves by the federal reserve. So tell us what you see in the market. Its got everything that it could have wanted this week. It got the good news, the illness appears to be slowing and then the fed coming in with this massive package where its going to buy highyield bonds and muni bonds to make sure that the markets are functioning correctly. You couldnt ask for anything more. And its just, its just spurred the market back to this height that its had. Its now up more than 20 from the bottom. Jon jon which is extraordinary, but you dont necessarily see this continuing. Were not going to see a v straight back to 30,000 on the dow. It just usually doesnt happen that way. Theres the too much that can go wrong. We can see the disease either pick up again or maybe even show up in the next si
In europe. European stocks hitting a 20 bounce up from the bear market in 2020. A little bit of selling on the bond market as growth questions continue and Oil Takes Another leg lower. Lets get right to the bank numbers. Jp morgan shares up by about 2 . They reported blowout fixed income and trading revenue. With us now is Alison Williams is sonali basak. Sonali provisions for loan losses are really skyrocketing here, more than 8 billion expected. A lot of it is coming from the consumer business, where those provisions are more than 5 billion. On the other end of the loan but, we are expecting lower Net Interest Income this year. Also, as one would expect with lower interest rates, that would come into about 55 billion, lower than the 57 billion dollars initially estimated. On the bright side, we saw Net Interest Income for the quarter come in pretty healthy, and fixed income revenue beat by almost 1 billion. Trading was able to hold up. The question is, wasnt able to hold up well in a
Ben leveson and jack howe. Ben, i want to start with you. We got a glimmer of hope as we see maybe social distancing is actual working, the growth of coronavirus cases is slowing. We also, of course, had unprecedented moved by the moves by the federal reserve. So tell us what you see in the market. Its got everything that it could have wanted this week. It got the good news, the illness appears to be slowing and then the fed coming in with this massive package where its going to buy highyield bonds and muni bonds to make sure that the markets are functioning correctly. You couldnt ask for anything more. And its just, its just spurred the market back to this height that its had. Its now up more than 20 from the bottom. Jon jon which is extraordinary, but you dont necessarily see this continuing. Were not going to see a v straight back to 30,000 on the dow. It just usually doesnt happen that way. Theres the too much that can go wrong. We can see the disease either pick up again or maybe
Ben, i want to start with you. We got a glimmer of hope as we see maybe social distancing is actual working, the growth of coronavirus cases is slowing. We also, of course, had unprecedented moved by the moves by the federal reserve. So tell us what you see in the market. Its got everything that it could have wanted this week. It got the good news, the illness appears to be slowing and then the fed coming in with this massive package where its going to buy highyield bonds and muni bonds to make sure that the markets are functioning correctly. You couldnt ask for anything more. And its just, its just spurred the market back to this height that its had. Its now up more than 20 from the bottom. Jon jon which is extraordinary, but you dont necessarily see this continuing. Were not going to see a v straight back to 30,000 on the dow. It just usually doesnt happen that way. Theres the too much that can go wrong. We can see the disease either pick up again or maybe even show up in the next si
Ben, i want to start with you. We got a glimmer of hope as we see maybe social distancing is actual working, the growth of coronavirus cases is slowing. We also, of course, had unprecedented moved by the moves by the federal reserve. So tell us what you see in the market. Its got everything that it could have wanted this week. It got the good news, the illness appears to be slowing and then the fed coming in with this massive package where its going to buy highyield bonds and muni bonds to make sure that the markets are functioning correctly. You couldnt ask for anything more. And its just, its just spurred the market back to this height that its had. Its now up more than 20 from the bottom. Jon jon which is extraordinary, but you dont necessarily see this continuing. Were not going to see a v straight back to 30,000 on the dow. It just usually doesnt happen that way. Theres the too much that can go wrong. We can see the disease either pick up again or maybe even show up in the next si