Listen: Charlie Pellett, China And Highs Bank Of America discussed on Bloomberg Daybreak: Asia
"Of one percent off earlier. Highs Bank of America posted a record profit in the first quarter BlackRock saw its assets under management rise above six trillion dollars. Again, Jason dre o of UBS global wealth management says the outlook for the banks remains positive first quarter of activity was we were sort of your low. You seem you tell flows also because of the government shutdown some big bang, Tiffany like IPO things like that. We're actually going to delete a little bit. You're seeing weakness there. But I think from the economic readings in terms of Kalinic critical that's all been positive. I think that's kind of part of why Bank continue trait. Well, and you remember how yesterday we were saying city didn't trade all that. Well after its earnings well today, this talk was up two point nine percent. And we'll be watching Morgan Stanley's earnings tomorrow. According to the EC de China needs to pursue white attacks reform to stimulated slipping economy and boost revenue. The survey recommends China introduce in hin inheritance, tanks, creative recurrent tags on real estate holdings and widen the personal income tax base. According to the calculations about eighty two percent of citizens in China, don't pay any income tax Laurie all sales in Asia beat those in Europe for the first time last quarter China ruled out policies to encourage people to shop on the mainland rather than during foreign vacations or through black market, resellers ten years ago. Lori all's Asian sales were less than a third of those in its western European home. We're gonna move up on Wall Street. Let's get a deal from Charlie Pellett in his Wall Street rap turned out to be an update. Stocks again flirting with records a group of high profile earnings offered diverging clues about the strength of the American economy. Gabriela Santos's global. Strategist at Jp Morgan asset management late last year. Multiples had collapsed there was this fear that the stone shifting growth could have turned to something worse. So now, we are looking at earnings and economic data to validate that story given that multiples have already returned to long term averages S and P five hundred index up a point the Dow up sixty seven three tenths of one percent. Nasdaq also up three tenths of one percent higher by twenty four points in New York. Charlie Pellett, Bloomberg daybreak Asia. All right for how the Asia Pacific sets up today. Let's get to Doug krizner. He's taken look what he watches. Well, I'm looking at the financials too because you know, we talked earlier about the black rock results kind of making up for the disappointing guidance from Bank of America, but long term interest rates were up as well. So that put a little bit of a slope to the yield curve ten year treasury"