Listen: US, J P Morgan And Bloomberg discussed on Financial Issues
"With a continuation of key earnings. We've made you use names, including city, Goldman sanctuary. The USA today. Let's hit live breaking news type STI on your Bloomberg terminal Neera, Michael thanks so much. That's your Bloomberg business flash. She is leeann guarantee with more on what's going on around the world. Good morning. Name Kim Jones own says, he would be willing to hold a summit with President Trump as long as they US comes up with an acceptable nuclear deal by the end of the state media reports came into his good relations with Trump. The president has said. He's been to another summit, but is not prepared to lift sanctions without major concessions spine, North Korea. Thousands of protesters took to the streets office Sydney's comparable cooling on the me to hand over power to a civilian government. The military toppled a longtime President Omar al-bashir last weekend. And the protesters say they will continue to demonstrate until a civilian council is formed and finally tiger rules, again would has pulled a form of the most remarkable turnarounds in sports history. He's won the fifteenth major title more than a decade of his previous one woods claimed his fifth. Green Mazdas docket coming back from scandal and injury. He generated more than twenty million dollars of exposure for his phone says cheering TV coverage of the final round. That's according to market analysis. Global news twenty four hours a day on avenue tick tock on Twitter pound by more than twenty seven hundred journalists and unlistenable the one hundred twenty countries I'm yet guarantee. This is. Bloomberg narrow lien fun Q. I did a lot this weekend. But I can tell you the one thing I didn't spend time doing was watching Gulf. I just can't get my head around it. So I did a lot of watching go 'cause I've always been told that the Mazdas really starts on a Sunday evening the last nine holes because obviously the whole weekend you've got changed in the ship changing both. But yesterday was absolutely stunning. And I think every single support trout there is just ecstatic that would says ruled again that he's done again eleven years of he I did it when he first when he was the youngest ever winner Mazdas title. Oh, I'm so glad that Leon's here to keep the viewers listening while fifty percent of them chew. Now as I say, I don't want to watch the Gulf. Thank you Leon governs full of tape. Now. Let's turn to something else. We've role watching over the weekend and on Friday, financials very much in focus today, CitiGroup, and Goldman Sachs will open books that's off to J P Morgan reported on Friday a clean beat in. Most metrics shares rallied nearly five percent propeller. The S and P five hundred to a six-month high. Joining me in the London studio senior finance editor. Jayme hurtling, Jim what we heard from J P Morgan. Good morning, by the way, and thanks for joining us. Talk about game of thrones. Do you know what we've actually saved for the next block? You're teasing ahead. But yet we'll we'll get to game of thrones in just a second. If you can pull off a parallel between Bank owning season and game of thrones. You'll have my ultimate respect. But let's kick off. We what we saw from J P Morgan the reaction the Shatt price does that suggest that maybe expectations going into this Bank earning season, we're little low or is J P Morgan Khan of the standalone here, I think they'll probably a little low because what we saw in options trading after those results was that traders anticipate gains of earnings of the Goldman in city earnings, which suggests that low expectations were baked in. And as soon as JP Morgan numbers came out people traders readjusted, what what did you find most interesting out of the J P Morgan release? I mean, we talked about how was sort of a beat across most metrics. But was that anything in particular that stood out for you as surprising? You know, as as big as JP Morgan is as a it, it underscored sort of the strength of the US economy a net interest margin on credit cards. You know, just the the the US consumer was really kicking on all cylinders looking ahead. Then of course, we're going to hear from Citi group and Goldman Sachs today. What are you going to be looking out for that will be interesting to see how? If like Morgan Goldman's decline in in trading is less than what's been baked in. Obviously a trading revenue will will decline. Everybody's single that everybody expected Jacob organs was a little bit less than analysts had anticipated. And that was one of the reasons that the stock pup and we'll see if the same holds true for Goldman. And in cities case, again, we'll we'll see how how strong their their consumer and corporate business. And if we look at volatility as well, I mean going back to J P Morgan the trading business did suffer as clients would have stayed on the sidelines little bit during the first call investment banking, though, posted strong results of the Bank did warn it's pipeline for emanate was lower amid a drop-off in European dealmaking. Interestingly, but on the volatility question, I mean, Jamie diamond himself commented on this a tool, it's the beginning of this month, saying, you know, that we could see a pickup in volatility, for example, Andrew sheets at Morgan Stanley saying there are two big reasons. Volatility is going to pick up how much do the Bank openings from here in the US hinge on that one point of all Attila picking on. You know, every time you you hear traders hoping that follows volatility picks up, you know, that will boost trading revenue, but it seems when we've had spikes and volatility the past couple of years. It's always the wrong kind of volatility. So, you know, we'll see a good point always going to distinguish between the right and wrong. Kind of all Attila t meanwhile, your phones, then. Yes. Yes. In fact, we spent that we can't reminding ourselves catching up to head into the final season. Jim. On US banks. I gave a great to have you with us in the studio which one five minutes into the equity trading session here in Europe, a banks. She did pretty well on Friday in terms of European equity indices outperforming today. This is Bloomberg those your small business owner, and."