Environment. Businesses, the private and Corporate Bank are fighting through the Interest Rate headwinds, but doing well on executing strategies and offsetting that had went. Thee are uncertainties in Macro Economic environment and that is something we factor in as we manage our businesses, our risks, but we remain quite confident in our outlook and the way we are managing through this pandemic. It is supporting clients, the economy as we all navigate an unexpected environment. Risks, howaging the hard would Deutsche Bank be hit if there would be another wave of lockdowns across europe and elsewhere . James weve built in some conservativism into our numbers, weve taken an overlay, adjustment more conservative in provisions and that prepares us for uncertainties that lie ahead. We are not seeing a deterioration in portfolio beyond what we expected in this environment and while we are all subject to the direction of the economy and potential impact of more distancing and Protection Measu
A simulcast on an important friday. So many days to the election, 25. Thrilled you are with us on radio, on television across this nation and around the world. I want to look at the markets as we frame up Michael Shaoul to join us in moments. Up 15 in a bid to the market. 3 below record highs. With that, some nice confirmations of good global news. Look at renminbi. Jonathan up on the week by about 3 on the s p 500. On ther chinese currency return from the holiday. The narrative has shifted aggressively, and in a short amount of time, from fears about a contested election to the potential of a blue wave. What we discussed in the previous hour is something we need to discuss in the next hour. How vulnerable is that newmarket market narrative shifting things around . Jonathan the Political Landscape here is most interesting. The president so far quiet on twitter. Hugely active yesterday across media. I guess an 8 00 p. M. Appearance tonight. You wonder what the president would be doing b
Alongside lisa abramowicz, im jonathan ferro. Tom keene back on monday. The equity market unchanged right now on equity futures. It is the bond market tickets your attention. The worst week for 10 year treasuries going back to june. Lisa very low rates, but it seems like theres at least a little bit of a concern creeping in about the record bond issuance from the u. S. Government. The question is whether this is a momentary blip. Today, people seem to be treating it as a buying opportunity. Jonathan so far, so good this week in terms of expectations. Claimed yesterday, positive relative to expert patients. Cpi hotter, ppi hotter than expected as well. Perhaps fueling that moving treasuries and not just the supply story. Lisa weve had this conversation over and over again, the idea of lagging indicators. In a fastmoving pandemic where you get states reshutting down and people losing confidence, and people are looking to the july sales data shown the last retail sales gain before unemplo
Television across this nation, around the world, particularly those of you from continental europe. Lots to do in this hour. Right now, lisa and i need a primer on how this is not another exercise in kicking the can down the road this weekend in europe. Jonathan its got to get done. We got to see some progress. Theres a pool of money. What will be grants . What will be loans . What are the Strings Attached . That is it. What do we wake up to in the business papers across the whole of europe . Isurope united europe united were divided . Its really is europe united or divided . It is really not funny anymore. Tom how do you boil this down for our american listeners . They are like, weve seen this plenty of times. Jonathan if europe doesnt get a hold of it this time, it will be another 10 years of crawling out of an economic hole in a suboptimal way. We will have crisis after crisis, political episode after political episode, and redenomination risk that dominates Global Markets. We do no
The fed may get pulled back in. Massive escalation and geopolitical tensions. Inflation has to majorly overshoot their level. They have left the door open. They do not want to be the reason the markets fall off, but they do not want to be the reason they are going off. Theyre probably going to stay off the spotlight. , greg peters,a joining us from london, andy. Your thoughts on that the threshold to bring the fed back to the table in 2020 . If we put to one side what happened overnight, it is much more complex. The reaction from iran will be important. I do not think the fed will come back to the table anytime soon. I think the same can be said for the Central Banks in the g7. I think we are in a very benign. , absent any further escalation in the geopolitical. If you look at the pricing, though it is jonathan lets bring the conversation around the table here in new york diana, is that your take as well. Airor the first half of the we are likely to see the fed remain on hold. He could