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our main story this monday morning here in asia, china has stepped up its efforts to restore stability in the economy, saying there is no basis for a creationist for appreciation. where did you go, joe? that was the question. i have been asking this repeatedly. since august, there was not a lot of comment. he had his deputy give a press conference at two days after that in august, or is in as in 2005, the architect of the yuan liberalization was on state media within 48 hours of that big the pegging from the dollar in 2005, this time, he was kind of silence. he had maybe a few comments of the g-20 meeting, he was not a davos. double joe resurfaced in a time magazine article where he basically went down a long list of concerns. , there is no basis fall, theing yuan pboc has been sending it since that august evaluation. he says balance of payments are good, he says outflows are normal. exchange rate is stable, even though it is down 1.25% again. there is outbou ....
regionally, we are seeing stocks .ome off three-year lows thailand, just coming online, up by 9/10 of 1%. it s a bit of a combination of two things to disappointing gdp .oming out of tokyo also the topics in particular, the automakers. we are seeing strong gains in the energy space. we had that 11% surge on friday, which drove gains across u.s. and european markets. we are also seeing milk producers, the likes of frontera, joining games after those numbers out of china came in better than expected. we have had the really disappointing read on china trade numbers. about 0.5%.down by this as valuations continue to be high, in particular in comparison to the rest of the emerging markets, and also the divergence between hong kong and widesti stocks, the since about 2009. that is driving gains in hong kong and the selloff on the mainland. shery: a day of dramatic headlines with china dominating the news. we are going to take a look at the pboc s comments on the yuan. first, ....
silence and saying that there is no basis for the continuing depreciation. assessing and not much abenomics, three years in, has the programs finally failed? you can let us know by following me on twitter and do not forget to include the #. the chinese and hong kong markets get underway and singapore, taiwan, and malaysia and they remember that s. this is the past couple of would have the withgs of a recovery rally 1% in the open. region,he rest of the it was the worst rout that we had seen. and a veryedible low different feature today. andre seeing the gold gains and energy resources named in new zealand. it is a big gainer, in terms of delivery. crude coming a little bit in this session. mind the gains are in the u.s. and will carry through in asia. 22. a look at there is a rally ahead of now. the numbers are going well and and weexpecting exports are looking forward to the opening in 30 minutes or so. say they have catch-up to do to meet the rest of the markets. an ....
stocks falling right along with the price of crude. dow is down 160 points. we begin with new questions about the strength of the banks and how much exposure they really have to the continued commodities crush but it s one firm in particular today, jp morgan that has investors growing more nervous. it s stock is sliding as jamie dimon holds court with wall street analysts in new york city. kayla joins us now with more. oil is hurting jp morgan and other banks faster than we thought. yeah. they are taking up their estimates for exactly how much it will hurt them. it s worth saying they did sound token optimism on the us. economy. ultimately the noise in manufacturing and corporate end earnings will get sorted out. jp morgan s energy exposure they layed it out pretty specifically. $25 billion for investment grade. only about a fifth of that has been drawn down. high yield $19 billion. it s the high yield portion that is what investors have been worried about. those are ....
you think what were talking but here is the end of capitalism? that the banking system is gotten to the point where we can t accept a market economy with banks that are privately owned? mr. kashkari: not at all. the market economy is still the key to our future. we just need to have a market economy where you can have a prosperity, and innovation, and take up some of the risk of collapse of the table. pretty briefly, why now? yourhy you in terms of leading on this issue? i just started, so i m going as fast as i can. i feel at what i bring to this is a unique perspective. of few people on the front line responding to financial crisis. that really colors my thinking and my views as i look at what has been implemented. does have a the fed lot of expertise in large banks. i think bringing these things together to say i think we can do more, let s go do more, the last thing i would say i m repeating myself there are a lot of experts around the country that have strong ....