surveillance with tom keene, jonathan ferro and lisa abramowicz. lisa: good morning. this is bloomberg surveillance. we are getting earnings. we have jp morgan, wells fargo and now we are getting citigroup and it was a disappointment. we have a tale of 2 wall st. jp morgan and everybody else. fixed income trading revenue lighter than expected after beating on jp morgan, $3.09 billion versus the estimated $3.2 billion. they do plan to resume buybacks but that disappointment in trading clearly weighing on the stock ahead of the open. tom: it is interesting. if you don t want to talk about it, you don t show ratios. ratios are compare and contrast to the hardest security analysis, both wells fargo and jp morgan gave me clarity on their earnings release and i m not going to mince words, james fraser, you failed. you gave me single-digit baloney because you are the plan. the only one who knows what is going on is chanel he and she joins us right now. they did not do 24% tangible
that s a 13.8% increase month on month. pretty good, alix. israel: alix: can it last? and coming up this hour we ll speak to valley grant, senior vice president and henry mcveigh, ahead of global ma am row and asset allocation with his report on economy and investments. the main macronews that happened was beijing following through on the threat of retaliation, china ordering the u.s. to close the consulate in chengdu and comes after the foreed closer of a chinese mission in houston. sharon chin the asian bureau chief, how big of a disruption is it between the two countries? sharon: i mean the whole dispute over the consulates, the u.s. asking china to shut its houston consulate and china asking the u.s. to shut down its consulate in chengdu has en a severe reaction and the worst they ve taken in the last few years. here it was immediate, people on the ground expressing support for the chinese government. there was a lot of security on the scene in front of the consulate in c
we have a lot of time left, we will see what happens. pushing for concessions in hong kong. the u.k. parliament takes a stand against in no deal brexit. parliament saying clearly we will not take kindly if you try to surpass us. ibm and red hat signed one of the biggest tech deals ever. we will extend their reach into 175 countries. an analyst says recession may be coming, but investors should not fear the worst. it is all straight ahead on bloomberg best. hello and welcome, i am rosalind chin and this is bloomberg best, your weekly review of the most important business news, analysis and interviews from bloomberg television around the world. let s start with a day by day look at the top headlines. deutsche bank announced a dramatic overhaul of its global operations in the struggling lender s latest attempt at a turnaround. david: a banking bombshell. deutsche bank planning to cut 20% of its workforce. that is 18,000 people. shutting down its equity sales an
legislation,extra extradition legislation saying it is dead. deutsche bank shares slumped over 5% as danske bank flashes its profit forecast for the year. manus: welcome to daybreak: europe. time for a little defense. s&p, lower. it is blackrock who leads the charge this morning, cutting their equity risk, changing cash balances. go moderately defensive, the difference between blackrock and blackrocknley is likes u.s. equities. they still want to be overweight u.s. equities, so that is something to bear in mind. how much more bang for your fed back will you get? we will put that to the guest host this morning. let s look at consequences of over ambition. capital. apple. the michigan what happened during the session, a downgrade coming through. fundamental deterioration they are saying. they are worried about the iphone and in terms of analyst, they haven t been this negative on apple s 2004. ratings on the stock, the most since 1997. the market is pricing in 87 basis poin
rosalind: protesters keep pushing for concessions in hong kong. the u.k. parliament takes a stand against a no-deal brexit. parliament saying clearly we will not take kindly if you try and bypass us. rosalind: ibm and red hat seal one of the biggest tech deals ever. we will help extend their reach into 175 countries. rosalind: plus, kkr s henry mcvey says recession may be coming, but investors should not fear the worst. if i were to quote shakespeare, it is sound and fury signifying nothing. rosalind: it is all straight ahead on bloomberg best. hello and welcome. i am rosalind chin, and this is bloomberg best, your weekly review of the most important business news, analysis, and interviews from bloomberg television around the world. let s start with a day-by-day look at the top headlines. deutsche bank announced a dramatic overhaul of its global operations in the struggling lender s latest attempt at a turnaround. david: a banking bombshell. deutsche bank announced