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
Hello to everyone from geneva, and that uh o headquarters. Welcome who headquarters. Welcome to this regular covid19 briefing. There were more than. Thank you. Good morning, good afternoon, and good evening. E are delighted to be joined thank you, tarik. Good morning. Good afternoon and good evening. As tarik said we are delighted krytalina, the managing director of the monetarily fund. Elcome, my sister. She will say more in a few minutes about the Economic Impact of the pandemic and what the imf is doing to support countries and the Global Economy more than one million confirmed cases of covid19 have been eported to who, including more than 50,000 deaths, but we know that this is much more than a Health Crisis. We are all aware of the profound social and economic consequences of the pandemic. The restrictions many countries have put into place to protect health are taking a heavy toll on the income individuals and families and economies of communities and nations. We are in a shared
They have very often less resources to protect themselves against this crisis help any konami crisis. We know that in many countries Health Systems are weak. We know that in fight in flight to safety a lot of capital has left the merging economies the developing quote nearly 90000000000. 00 have flown out this is way more than during the Global Financial crisis. And some countries are highly dependent on commodity exports which prices collapsing there hit yet again it is paramount for us to place these countries and especially the weakest among in the center of our attention the same way the virus hits Vulnerable People with medical preconditions hardest the economic crisis hits vulnerable economies the hardest and that takes me to my 3rd point we ed the i. M. F. Are mobilizing strongly working together with the world bank and other International Financial institutions bringing the world together. To provide protection against this crisis we have one trillion dollars war chest and we a
Hello to everyone from geneva, and that uh o headquarters. Welcome who headquarters. Welcome to this regular covid19 briefing. There were more than 400 journalists watching us on zoom, as well, with a number of questions waiting for our guests today and today we have a special guest. That is the managing director of the International Monetary fund. She will join this briefing to about the Economic Impact of the covid19 pandemic and the response of the International Monetary fund for journalists who are online and wish to ask questions, please click rays hand. We will start. Thank you. Good morning, good afternoon, and good evening. We are delighted to be joined by the managing director of the International Monetary fund. Welcome, my sister. She will say more in a few minutes about the Economic Impact of the pandemic and what the imf is doing to support countries and the global economy. More than one million confirmed have beenovid19 reported to who, including more than 50,000 deaths, b
There are a number of questions waiting for our guest. Guest, thepecial managing director of the International Monetary fund. She will join this briefing to talk about the pandemic and the response of the International Monetary fund. Questions,ist to ask please raise your hand. Tetra whoart with dr. Joined by others. Afternoon, andg, good evening. By theined today managing director of the National Monetary fund. Welcome. She will say more in 18 minutes ofut the economy making part this and what the imf is doing to support countries and the global economy. More than one million cases have includingeported, 50,000 deaths. But we know this is much more than a Health Crisis and we are all aware of the profound social and economic consequences of the pandemic. It is taking a heavy toll on the income of individuals and families and the economies of nations. In the shortterm countries, we can ease the burden on their populations to ensure people have food and other life essentials. For some c