17 Burst results for "Bank Of America Merrill"

"bank america merrill" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

10:20 min | 1 year ago

"bank america merrill" Discussed on Bloomberg Radio New York

"Hearing happy Friday listening to Bloomberg daybreak here thirty minutes into the equity market opened we end the week on a high the stock six hundred extending gains up almost seven tenths of a percent so we're in the green for a fourth day in a row for Europe equity benchmark across regional equity benchmark you're seeing a similar picture with a foot two one hundred up five tenths of percent the CAC forty index both higher by at least seven tenths of a percent the ibex high by more than one percent of the foot teammate in the green high by six tenths of a percent what seems to be adding to the optimism apart from the fact that we have had phase one even though a lot of people say what was in it was already in the price of a risk assets we've had to the industrial production a retail sales in fixed assets investment data out of China lifting sentiment coming in a better than expected but also retail sales out of U. S. giving a little bit of a late set me we saw all three US benchmark hit records again it yesterday alphabet above the one trillion dollar valuation a futures looking up we could build on the gains and nasdaq Dow and S. and P. futures Ohio by at least two tenths of a percent the ten year treasury yield moved Holly yesterday following the retail sales data and we move high by another basis point today one eighty to handle this way we sit study on the ten year bund yield negative twenty to the ten year deal you'll also goes No Way Out of sixty four handle in in response to see them in action talking about issuing twenty year balms in the first half of twenty twenty we have seen some curve steepening on the five cities on the tense thirties and on the two's tens the two cents for a second day in a row now own a twenty six handle is wet we say it's taking a commodities oil getting a bit of a left WHI fifty eight sixty seven up a quarter percentage point Brent at sixty four eighty up a quarter of a percentage point interestingly gold is slightly bait even with all the rest gone one thousand five hundred fifty five dollars an ounce Dalian though reflecting the general risk on sentiment the yen at an eight month low but steady on Dalian at one ten twenty two well it's going to some of today's top story the European union's new trades chief made his first trip to Washington a pretty memorable one Phil Hogan Cole president trump obsessed with the US deficit in goods trades with the E. U. respectful conference in the U. S. capitol on Thursday when was called the narrative that the United States has a trade deficits are unfair trading relationship with your opinion in reality the relationship is bored balanced and highly mutually beneficial and this kind of business is enough in fact if the facts are clear Phil had also called the president's tariff threats amounting to short sighted electioneering any question the new US trade deal with China as well meanwhile in China the economy grew six percent in the fourth quarter from a year ago in line with estimates Bloomberg's Brian Curtis has more from Hong Kong Chinese economy showed further signs of perking up in December industrial production advanced six point nine percent that easily beat a Bloomberg estimate of five point nine percent retail sales going eight percent just ahead of an estimate of seven point nine percent and fixed asset investment year to date a five point four percent now for all of twenty nineteen fifty eight percent of China's growth was down to consumption with investment at thirty one percent and eleven percent coming from net exports in all gone Brian Curtis Bloomberg daybreak Europe of course one of the things we just have to know we'll check on industrial production aids that we all looking ahead to the lunar new year so it could have been that some companies increase production in December head of a shut down later this month I'm looking for the moon cakes yeah no that's a different holiday eighties moon cake is its hold on holiday in old Sam this is new to you yeah but you know what I'm half Chinese and I've made that mistake myself before so you're forgiven thanks again by Richard right Alvin has joined apple and Microsoft in the trillion dollar club it solidifies tech giants as the biggest Titans of Wall Street the any other global company above a one trillion dollar market cap is the oil giant Saudi Aramco Facebook is being sued for anti competitive behavior for companies also being a judge to order chief executive mark Zuckerberg to give up control of the social media giant they say Facebook isn't forced to sell what sap on Instagram it'll integrate them into the social network stifling competition okay now let's wrap up a big week of earnings for US banks now coating to Bloomberg research president trump's tax cut save the six biggest banks eighteen billion dollars last year the tax savings have spurred the bank's record profit with six firms posting a hundred and twenty billion dollars in net income for twenty nineteen inching pulse the previous year for more let's bring in but European finance and it's across Los Ross is this really what is down to just I don't think you can attribute the the entire thing to this but but certainly it's been a huge benefits and as we can say as well since the tax have came and it's been a thirty two billion gifts to the to the biggest banks so so that's a big part of the picture but the other big thing is a huge surge and fixed income trading that was really not expected for many of these banks yeah and Ross I mean one to even come into common single week in terms the fixed income trading is not something that's a it difficult to predict in quarters going forward and be the compatibles of course with fourth quarter of twenty eighteen would certainly have been helpful as well so trading was something that across a number of the big banks was a bright spot to but what about the consumer because for some of the banks and bank America Merrill Lynch for example that was a little bit of difficulty that's right and and that's where you have to two separate some of the banks they they all did get benefits from from certain areas including the tax cut but bank of America is warning the the next couple quarters might see slow down so that that really put a damper on their share price and Goldman Sachs as well didn't overall good performance but they're looking at personal data very confusing earnings report but also they're looking at potential legal risks and other things that could cloud the future so it's not a straight up good news for everyone so what about you via CBS coming up will be expecting it sounds pretty positive most of the the indications are the that in there and they're going to see some some strengthening but as as we've seen over the years that there definitely making a lot of maneuvers to kind of breathe new life into the wealth management that they focus on so much so I wouldn't expect to see results of those those moves are making right now yet so so it's it's fairly unpredictable they may see some some unseen benefit to somebody's US banks that let's also talk about ball please Ross because it's costing about a hundred sedia jobs at the investment bank this is according to people familiar a Bloomberg report take interesting of course because we know that the Darling for jazz Staley has been other corporate and investment bank so what can we sort of take away from that these cuts a shareholders likely to look at something like this positively because it's part of cost cutting it could be seen I mean usually any sort of job cuts Intel cost cutting but this is about a hundred jobs so it is it's not the sort of like large scale thing that would be a huge benefit to the bottom line I think it depends on the investor what are the ingredients it with stay lean in investment banking is a rear priority because certainly save money but you've got less less executives in the mix trying to get the investment bank better returns in the thanks very much indeed was lost in there European finance editor allow let's go to the younger ones with the world news Roger Hey good morning the second person has died in China will have to be an infected with a new cells like virus that sickened dozens of people in the city of Wuhan that says another travelling to Thailand was found to have contracted the novel coronavirus Japan and Thailand have reported three cases of the virus this week heightening concerns at the outbreak is now spreading unlike sells a new virus doesn't appear to spread easily between people turn his birth rate has dropped to the lowest level since nineteen forty nine as a labor force continues to shrink this is the latest sign of slowing growth prospects for the world's second largest economy thanks Karen Lee reports the number of newborns and twenty nineteen fell to fourteen point six five million that's a decrease of five hundred and eighty thousand from the previous year China has struggled for rest it's declining for three for years using it stringent one child policy in twenty thirteen and allowing each family to have two children three years later in Hong Kong Karen Li Bloomberg daybreak here at living in general Kelly for his death has agreed to abide by this week ceasefire becomes the head of a peace summit in Berlin this weekend where German chancellor Angela Merkel hopes will power was confined solution to Libya's conflict Cisco yes mine of wonderful tough it's good news that he is prepared to abide by the ceasefire that's the pre condition and in particular we have to see at the Libya conference that the arms embargo is respected again it's already been agreed at the U. N. level but sadly it isn't being added to and Microsoft isn't just going carbon neutral owner he wants to get a carbon negative the software giant is investing one billion dollars Sebak technology that removes carbon from the atmosphere this is F. its two midi emit less owns enough to prevent catastrophic climate change label needs twenty four hours a day on it and a quick take my bring that pilots by more than twenty seven hundred jealous some on this symbol the one hundred and twenty countries on the against this is Bloomberg name Leon thank you so much now coming up on Bloomberg daybreak Europe David stops head of investment strategy at JP Morgan private bank will join us in the studio lots to talk through it's been a big week for markets without phase one signed we almost forget that with all the buildup that was coming up to it on a day to dump from China and the U. S. Roger giving us at select not to mention certain the issue possibly on wise.

Bloomberg Europe
"bank america merrill" Discussed on CNBC's Fast Money

CNBC's Fast Money

03:11 min | 2 years ago

"bank america merrill" Discussed on CNBC's Fast Money

"The latest plus the bears. They're out for tesla atop analyst at Morgan Stanley says the worst case scenario for the stock could be as low as ten bucks a share. Yep. Ten bucks. Walk take it there. We've got the details, but we start off with the Broncos and talk to that. Man. You just saw by the way, we start off with the market's rebounded today as the US temporarily eases restrictions on Chinese textile and while away. And if you think you've heard the story before, you're right, because the spite all the reason volatility, and headwinds facing the markets, the S and P five hundred is right back to where we started at the same level, we were exactly two months ago. So is this truly soccer's market now and if so, what should you be buying him? This is a real house. Our producers plan some Steelers wheel stuck in the middle with you. Gerry Rafferty went onto a great solo career. So what would you be picking here in a world, where so much has sold off blood service? So we spend a lot of time talking about semi's, and we talk about some of the things that are most exposed to trade. I, I, I need to start with US steel because it's a stock I was more bullish on higher up. And this is a stock that's been destroyed in this last month. Essentially the extra leg down, here's what we've learned from management. We got kind of some post first-quarter guidance and bottom line is actually the flat rolled segments, actually increasing somewhat US's seen a small deceleration, but the key for these guys is going to be cap, ex people typically would be worrying about is still companies balance-sheet during an economic downturn. So that's, that's the name. I really like. And I know this may sound counterintuitive as we, we go to war with Asia on everything tech, and otherwise, but ten cents. So we've talked about Bob Ali that for, for somebody else, I think, ten cents it's arguably the world's most important techique debater as we talk about gaming. And as we talk about all the other dynamics of social media in that part of the world. I don't really see why. I ten cent is caught in the middle of a trade war. So if you're a stock picker based upon valuation, ten set looks very interesting to me second the middle of the year. By the way, is like the anthem of my life, going back to stock making if anybody out there watch squawk box this morning. Thank you and saw. Our friend's Savita super meaning Bank, America Merrill, Lynch, the strategist she was on saying, people don't care about macro people like me anymore. They want stock pickers because of what is going on. What, what is this backdrop? So we started with sending, you know, despite all these things, I would argue it's because of all these things that were in the same place. We've seen this pattern for two months. Now you get these big proclamations about a tariff or rate cuts or rate hikes or something like that. And then they walk it back and the market just off elites back and forth. So in this type of period, you wanna have stocks, you won't have a stock picker you want to be both long and short. So if we're just talking about the long side, look at the stocks that of a decent relative strength. We what a strong right now, the US economy is relatively strong compared to the rest of the world. So you look at something like MasterCard and visa levered a bit. It to the consumer, even though we saw some retail stocks today. Their growth rates are still fantastic in this environment. Stocks are going bottom left, upper right, the very, very strong. So there's a great opportunity, Alibaba right now. I mean that stocks down probably ten percent over the last two months. A lot of concern just because it's one of the biggest weightings in the emerging market index and people have been selling that off because a lot of investors don't want to own it right now. But basically, with Alibaba you have the opportunity to own Amazon actually company that throwing faster than Amazon at a fraction of the valuation..

US Broncos Alibaba Gerry Rafferty Morgan Stanley soccer Amazon Steelers tesla analyst MasterCard Bob Ali Asia Lynch America Merrill two months ten percent
"bank america merrill" Discussed on WAFS Biz 1190

WAFS Biz 1190

08:36 min | 2 years ago

"bank america merrill" Discussed on WAFS Biz 1190

"That stock away to the investor is compensation for them leaving there's no tax too. And so they have a Bank come in and be an investor or forty eight hours, and that's enough to make the tax Bill just disappear, and it's legal. Yes. I mean, it's kind of a quick ETF structure in the what we call in kind creations and redemption. So that means that the way they work when the fund expands inside is the someone delivers portfolio of stocks into the fund they get Hsieh's back in return, not money like swells the fund and asset if they won't take the money out of the fund they again, go to the over that ATF says a bunch of Stokes back from them. So I thought was really interesting is that guy. So join the dots on like what this means from tax perspective. Yes. As very much kind of defect way in the funds. But the tax side was really really interesting. Let's go back to the tax side because it actually goes back to a tax law. Aw, right or change in one thousand nine hundred thousand nine take us back there. And what happened so nineteen sixty nine the world of ATS, right? Yes. Twenty four years before the first US ETF even existed back, then the only thing congress was thinking about was mutual funds because they were the only kinds of funds that were regulated by this part of the tax law. Congress was cracking down on tax dodging among insurance companies and in order to do that they said insurance companies basically in sixties big bull market. They they had all these investments that had gone way up. And so they said rather than pay tax on those stocks by to sell them. We'll just do share buybacks and instead of cash we'll give you these appreciated stocks. You don't have to pay the tax on them and either way, and so congress got wind of that and said, no more that's a legal now. But we're going to exempt mutual fund companies for reasons they never really explained, but that didn't matter much because mutual fund comes. Mutual fund companies don't really do that. They never have they they hadn't before. And they haven't since telephone companies are different from ATS, right? How they work, and they just why they wouldn't take advantage of this. They trade generally directly with retail investors investor opens an account when they withdrew when they closed that account. They want cash they don't want a basket of five hundred stocks to try to go sell. They wanna cash so mutual funds. Don't really use this loophole of very often of giving withdrawing investors this pile of securities rather than cash just say when I read this. I was just thinking about the coordination. That's necessary right to get the Bank that buys into the fund. Right. A few days ahead of when the selling is planned to tell me about that coordination, and how that came to be. So the understanding that we have these traits. What is that basically a few days before the indexes balance a full stocks have to kind of leave the fund manager at all that trading desk will pick up the phone and cool around a few different banks. What do they call me and Saks Fifth sample Bank, America Merrill? Credit Suisse cities banks, our what we call authorize participants. Now, this gives them a special privilege role within the ecosystem that basically means that they are the only people that can create them. Redeem ETF Hsieh's so given the manager needs to have this big creation coming in. So they can have a big creation going out and a washout of that taxes. They call up. These is participants these banks and say, hey, we've got this big index. Rebound coming up. Would you guys mind doing us a favor? The Bank will look at the economics for them. And ultimately they will make a decision based on the relationship that they have without UTSA. I don't a lot of fees and doing this, right? It's really about the relationship that they're banking zero fees that by law. They can't get paid a commission or a fee by the manager for this service. They're providing which cost them a the cost of their capital to be tied up three billion dollars for two days, the cost that it takes to hedge. Because obviously the Bank is not going to take any risk. They don't want to be exposed to the market. So they're going. To hedge their exposure one hundred percent, so they're incurring these small but non small but non zero costs of doing these transactions because. Exactly business right in other in other walks of the new if you are buying a new doing business with Blackwell vanguard. You definitely won't be continuously business with vanguard need to necessarily going to another kind of Bank. But it's it's important to point out here that some of the market participants we talked to dozens of market participants for the story, they all virtually all gave that account. Okay. But when we spoke to the banks spokespeople and the mutual fund manager spokespeople. They gave us a very different account. What do they say? Well, it's important to note that from the IRS perspective, the IRS may care, very deeply whether the banks have some independent economic reason to enter into these transactions or whether it's just a favor to help someone else avoid taxes that might be a key thing for the IRS. So the banks the banks and the fund managers basically legal opinions that said. As long as the Bank has some economic reason to do it. It's okay. And so what they've told us on the record is that they believe that the banks have some kind of economic incentive to do this. That's independent of them asking them in calling in a favor. Well, it's interesting. You brought up to the IRS did wonder about you know, oversight is this becomes more. Well, known what might regulators do will? They be looking to close this loophole. I don't know what do you call it? Is it a loophole? Is it a so the the we call them? Sometimes heartbeat ties large transactions that happen. And that is something that you could imagine the tax authorities. They say they know about him. So we don't know if they're considering doing something or whether they've already kind of privately blessed these transactions, right? But you could imagine the IRS saying this is a charade. What you're really doing is selling. Appreciate a stocks to the Bank and not paying taxes on it. So. We're going to call this an abusive transaction and send you a tax Bill. I haven't seen that happen yet. And it may be that the IRS is decided not to we don't know they won't tell us. I mean, I'm thinking what we're talking billions of dollars essentially potentially in tax revenue. Right. Yeah. I mean, some calculations that can only Carolina work. So I think how how much do you walk out the end? So. The big benefit here is is not really a void once but deferral, okay? ETF investors rather than having to pay tax every year when the fund realizes gains. They get to sort of save up all those tax bills till the end whenever they sell their tier at sell the most. But not all of those tax bills will have to be paid. So this is mostly a deferral benefit by our math something like two hundred twelve billion dollars of capital gains were essentially avoided by ETF's last year. So that's sort of as if there was like, maybe twenty two dollars twenty two billion dollars or so of of taxes that would have been do by the F investors that they get to sensually defer indefinitely until whenever they sell the fund be it next year or a decade from now, that's acme. Wait till Evans. It's a great story. They talk about heartbeat that all has to do with the huge ETF market of five trillion dollar. Market if the tax dodge, it's totally legal, but it's certainly going to have some of us scratching our heads. All right that wraps up the first hour of the weekend. Additional Bloomberg BusinessWeek from Bloomberg radio. I'm Jason Kelly. I'm Carol Massar. Plenty in our next hour, including how Wall Street is masking the cost of climate change for coastal real estate. If you own some property, you're the ocean, you're gonna wanna listen to or even if you're thinking about it, you may wanna think twice plus six ways to stop the internet from ruining your day. It's only six that's in our strategy section shutdown that phone this is Bloomberg. This message is for all of us sitting in the passenger seat and apologies if it gets a little uncomfortable. But how does it feel to be at the mercy of someone who thinks a random text is more important than your life? Someone who takes their eyes off the road while speeding along in a three ton hunk of steel. Freaky, right? Well, why not just ask them to stop or better yet? Volunteer to.

IRS fund manager Bloomberg ETF Hsieh congress Hsieh ATF US Credit Suisse UTSA vanguard Stokes Blackwell vanguard Carol Massar
"bank america merrill" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

04:40 min | 2 years ago

"bank america merrill" Discussed on Bloomberg Radio New York

"Ease have Clancy, the vote take place from seven o'clock this evening, I will speak before the vote actually takes place, and there will be voting on a number of amendments. We're not sure how many amendments, and they will be closely watched a course because any one of those amendments could change the assessment of the government's about whether it's keep it poets may motion. So it's going to be important to watch. They and turns well often off any failure to get the notion through parliament's is is is very upsetting to me. We will make some kind of statement everything to the common dot com, pointing the labor party has said that they will bring a no-confidence say whether they can win that though is also unclear many options remain open, even Weisman's deaths. Not Anna, thanks very much for joining us, Anna Edwards covering this. Brexit vote live. Live from the Greene in front of parliament, James balti-, head of European stocks at Bank of America, Merrill, Lynch joins us now in our London studio, James said great to have you here. A lot of the focus ahead of the vote is on Stirling rights. But I'm just kinda wondering from your stocks perspective. What are you going to be watching for? You're right. Sterling is is really the key trigger for for what happens in that will feed through into the market as well. Because we need the footsie one hundred dollar on as the tends to be this inverse relationship between sterling and the Footsie-100 having said that if you look at all fund managers say they wish we publish the latest version of today the underway in the UK's huge. And really well. Matt was saying of the UK has showed itself in the foot from a global investors perspective. There is no reason to Newcastle amendment until this uncertainty is lifted the absolute key is to rule out a no deal. I think that's why you since sterling rallying over the last couple of days because the the old so no deal. Brexit have been going down parliament sausage, take back control from the government last week. I know some of the brackets tears. Look no deal is the default option happens on the twenty ninth of March. You know, you've you basically need primary legislation to stop it. But at the end of the day parliament is sovereign John berko, I think the speaker has made it clear that he will allow employees to take the government on here. And I think there's a vast majority of MP's in parliament that will actually oppose a no deal Brexit, if that becomes clear for the markets, and I think you can get a risk on move in the UK. And I think it comes through in sterling it comes in in UK inflation swaps which implying quite a big rise in inflation an air come through in UK. The small-cap parts of the UK small to mid cap past the UK will be the biggest beneficiary the so this is exciting for us here. Especially for those of us in the UK, even though it was incredibly dull for like eighteen months, but what about for investors have investors largely focused on other areas because of this uncertainty, you have investors focused on what's going on in the US economy focused on whether or not to buy EM yet. I mean, or our investors actually doing things in the UK. No, I think for a lot of my clients with a little bit more clients around the world, you know, they don't have to end the UK. And then after in the UK, you're not gonna in the UK, and frankly that translates through into Europe as well because we know Brexit is an issue for the UK colling, but we use in. If you end up having no deal Brexit, the damage it does the UK will spill over into Europe Europe is weeks. You mentioned earlier no deal. Brexit is the last thing that Europe needs say, it's keeps you out of both. She's on European next. Isn't it? There's enough else. Going on in the world is the fed gonna go on hold. Are we going to get US China trade deal? Those are the things that really dominating investors. Those at the moment, what's your favorite trade at the moment. Right now, we're pro risk. So we're long SNP long emerging in Asia. Those who preferred equity market trades. We didn't you can rent cyclicals. Here's along some. Yes industrials as well. But our biggest trading. Our core. Asset an across asset portfolio is actually being long emerging-market. Carry say will on Brazilian government bonds, it's African rights Russian government bonds, the rationale, there is really those countries and those currencies and bonds got very aggressively sold off into September of last year. They've been bottoming out the dollar looks like it's peaking to us. The fed looks like it's at the very least getting on hold for period of time say rates and starts to come down. That's a pretty good backdrop for emerging market assets. All right. That's great. Great to hear from you today. Thanks so much for joining us James for coming in here. James Barty had of European stocks Bank, America, Merrill, Lynch and the head of global cross asset strategy. Let's go live, right. Over to leeann.

UK Brexit US Europe James Anna Edwards Clancy Sterling Weisman Merrill Lynch James Barty James balti European stocks Bank John berko Asia London Greene Matt Bank of America
"bank america merrill" Discussed on Newsradio 970 WFLA

Newsradio 970 WFLA

05:29 min | 2 years ago

"bank america merrill" Discussed on Newsradio 970 WFLA

"Downs and ultimately making nothing and now effectively down for the year. Right. But Wall Street as they said continues to profit regardless folks, don't allow the fed to ruin your finances, especially with what just took place this week. We had a about a almost a four hundred dollar gain going into the Federal Reserve meeting this past week that completely turned on its ear in the market finished down three hundred fifty points almost eight hundred dollars or seven hundred point excuse me. Seven hundred point swing almost eight hundred point swing and interesting business insider had an article had global markets are plunging the feds hawkish, tone steals, Christmas, a global stocks dropped sharply after the fed raises, ROY. Rates and says monetary policy tightening will continue into twenty nineteen investors have been hoping that the fed and chairman Jerome Powell would be explicitly dovish in communication, but we're left disappointed in the central banks tone stocks ended sharply lower in a wild session after the Federal Reserve raised its benchmark overnight lending rate for the fourth time this year. The Dow Jones fell three hundred fifty one points enclosed of its lowest level so far this year erasing a three hundred and eighty point gain the came before the Fed's decision folks and over seven hundred point swing now. Fox News even reported the s&p is having its worst month since nineteen thirty one is they said as the Grinch hits Wall Street folks, this is real money. You know, you've worked hard for your money, and people are realizing that they can't the question becomes how can you continue to afford to lose your hard earned savings because many people are being forced to work long. Longer before this major market correction that looks to be taking its course. Think about your thinking here CNBC at a really good article out forget the fed and trade war the biggest threat to the stock market is the value stock prices over right time. Ultimately coming down right to earnings and analysts are slashing their earnings estimates for twenty nineteen right? The cost bars gone up for companies companies have maximized their balance sheet and how much stock they've been buying back of their own stock, which is artificially propped up the stock market Wall Street Journal reports global economic concerns continued to grow worries about the state of the market around the globe are growing more than half of fund managers surveyed in a Bank, America, Merrill, Lynch monthly report expect weakening global growth in two thousand nineteen the worst outlook since October of two thousand and eight. So again, I'll ask you can you afford to continue to lose your retirement savings, you seek a several boomers your, friends and neighbors. If shared their serious concerns about not being able to Ford another major, Mark. Loss. Let alone a lost decade like the last two thousand one and two loss years or the last one we can all recall being basically a decade ago in two thousand and eight and the question is I've been teaching writing about in in some of my new book, I'm writing is why settle for half. Right. If you really look at the ability to stop the losing pain in only enjoy the upside gain, which is what I teach and have been teaching boomers now for over twenty two years. What's fascinating is. Think about this the economic security without the worry. Right. That's what a client shared. They said. You know, what I really appreciate about learning things that I as you say, Chuck, you people don't know what they don't know. Or you can't be aware of something. You've never been made aware of before the economic security worry right with without the worry. That's the key. Folks. Imagine economic security where you're in control commonsense. Folks, this idea of stopping the losing pain and only enjoying the market gain is not sitting on the sidelines and moving money into bonds or into CDs. Like, I see a lot of people doing and settling for two percent or less, folks. That's just that's just going backwards at a slower pace. But we understand that people are really looking for a solution. Right. People feel very confused, especially with all this market turmoil that confusion, right causes a sense of isolation. Right almost like what the heck? I feel like I'm out here. On my own. My stockbrokers telling me, I should buy the dips and Wall Street articles are saying to hang in you take you take the ride because you don't want to bail out. Right. And then that gives people a sense of feeling powerless because they don't really know what to do. So they're looking for direction. Right. And I wanna teach you some direction which will help build your confidence in give you newfound capabilities. So that you can grow with the upside without the downside. I don't even teach you how to do it tax free. What is alternately what the ultra wealthy of done? And fascinating, I'm someone like many of you listening. I know what it feels like to lose money. I was part of a significant portion of me being technically, greedy back in the tech boom that quickly became not soon after the tech bust, and I got very serious about studying with the ultra wealthy of done. And I found it interesting the the wealthiest people in this country have less than twenty percent of their money directly in the stock market. So I'll teach you some things about how they use the stock market for game, but not exposure.

Federal Reserve Wall Street Journal Fox News Downs CNBC chairman Jerome Powell America Ford Chuck Mark Merrill Lynch eight hundred dollars four hundred dollar
"bank america merrill" Discussed on Newsradio 970 WFLA

Newsradio 970 WFLA

05:47 min | 2 years ago

"bank america merrill" Discussed on Newsradio 970 WFLA

"Your retirement lifestyle that you desire client shared. They are sick and tired this week. Actually over this last release since October since we've seen the big meal, major market movements. We haven't seen since two thousand eight just sick and tired of all these markets ups and downs and ultimately making nothing and now effectively down for the year. Right. But Wall Street as they said continues to profit regardless folks, don't allow the fed to ruin your finances, especially with what just took place this week. We had a about almost four hundred dollar game going into the Federal Reserve meeting this past week that completely turned on its ear in the market finished down three hundred fifty points almost eight hundred dollars or seven hundred point excuse me. Seven point swing almost eight hundred point swing and interesting business insider had an article out said global markets are plunging as the Fed's hawkish tone steals, Christmas, a global stocks dropped sharply after the fed raises. Rates and says monetary policy tightening will continue into twenty nineteen investors have been hoping that the fed and chairman Jerome Powell would be explicitly dovish in communication, but were left disappointed in the central banks tone stocks ended sharply lower in a wild session after the Federal Reserve raised its benchmark overnight lending rate for the fourth time this year. The Dow Jones fell three hundred fifty one points in close to its lowest level so far this year erasing a three hundred and eighty point gain the came before the Fed's decision folks in over seven hundred point swing now. Fox News even reported the SNP is having its worst month since nineteen thirty one is they said as the Grinch hits Wall Street folks, this is real money. You know, you've worked hard for your money, and people are realizing that you know, they can't the question becomes how can you continue to afford to lose your hard earned savings because many people are being forced to work. Longer and longer before this major market correction that looks to be taking its course. Think about your thinking here. CNBC had a really good article out forget, the fed and trade war the biggest threat to the stock market is the value stock prices over right time. Ultimately coming down right to earnings and analysts are slashing their earnings estimates for twenty nineteen right? The cost of bars gone up for companies companies have maximized their balance sheet how much stock they'd been buying back of their own stock, which is artificially propped up the stock market Wall Street Journal reports global economic concerns continued to grow worries about the state of the market around the globe are growing more than half a fund manager surveyed in a Bank, America, Merrill, Lynch. Monthly report expect weakening global growth in two thousand nineteen the worst outlook since October of two thousand and eight. So again, I'll ask you can you afford to continue lose your retirement savings, you seek a several boomers your friends and neighbors if they're serious concerns about not being of Ford, another major market. Loss. Let alone a lost decade like the last two thousand one and two loss years or the last one we can all recall being basically a decade ago in two thousand and eight in the question is I've been teaching and writing about in some of my new book, I'm writing is why settle for half. Right. If you really look at the ability to stop the losing pain in only enjoy the upside gain, which is what I teach and have been teaching boomers now over twenty two years. What's fascinating is. Think about this the economic security without the worry. Right. That's what a client shared. They said. You know, what I really appreciate about learning things that I have you say, Chuck, you people don't know what they don't know. Or you can't be aware of something. You've never been made aware of before the economic security worry right without the worry. That's the key. Folks. Imagine economic security where you're in control commonsense. Folks, this idea of stopping the losing pain and only joined the market gain is not sitting on the sidelines and moving money into bonds or into CDs. Like, I see a lot of people doing and settling for two percent or less, folks. That's just that's just going backwards at a slower pace. But we understand that people are really looking for a solution. Right. People feel very confused, especially with all this market turmoil that confusion, right causes a sense of isolation. Right almost like what the heck? I feel like I'm out here. On my own. My stockbrokers telling me, I should buy the dips and Wall Street articles are saying to hang in, you know, taking you take the ride because you don't want to bail out. Right. And then that gives people a sense of feeling powerless because they don't really know what to do. So they're looking for direction. Right. And I wanna teach you some direction which will help build your confidence in give you newfound capabilities. So that you can grow with the upside without the downside, even teach you how to do it tax free. What is alternately what the ultra wealthy of done in fascinating? I'm someone like many of you listening. I know what it feels like to lose money. I was part of a significant portion of me being technically, greedy back in the tech boom that quickly became not soon after the tech bust, and I got very serious about studying with the ultra wealthy of done. And I found it interesting the the wealthiest people in this country have less than twenty percent of their money directly in the stock market. So I'll teach you some things about how they use the stock market for game, but not exposure.

Federal Reserve Wall Street Journal Fox News CNBC SNP America Ford Jerome Powell Chuck chairman fund manager Merrill Lynch eight hundred dollars four hundred dollar
"bank america merrill" Discussed on Masters in Business

Masters in Business

03:57 min | 2 years ago

"bank america merrill" Discussed on Masters in Business

"Companies. And not a lot else. We sold off the aircraft leasing business the consumer finance business as I said, all these other worldwide life insurance operates they had a ton of assets that were very save -able. They were very save a bull and as a result of the asset sales. We manage to use the sales to pay off the feds loans, leaving the federal government with you know, fifty billion dollars of preferred stock we converted the preferred stock into ninety two percent of the common stock. And so we now had a liquid market eventually we had a liquid market into which to offload the treasury shares of common stock. So so that brings up another peeve of mine. I think that process where the rescuer gets most of the equity is reasonable one. Hey, we're taking all the risk. We're putting up all this money. Maybe this works out. Maybe it doesn't. And so there's a big. Upside at the end of it, not that the government is doing this for the trade. They want to prevent the next great depression. But it seems fair we didn't seem to do that with anybody else. We rescued Bank America Merrill, Lynch city for on the fourteenth times. He's been bailed out I think three or four over the past century. They they have a long history of that go down the list of other companies that were that needed bailing out and were rescued and were illiquid, but they're balanced was transparent. S-, you know, the the one lesson. Everybody forgets from Lehman Brothers is if you're going to have an opaque balance sheet. That's forget the insolvency just the inability for anyone figure out what the hell is going on there. If you need rescue, you're in trouble. And and that's a big part of that. So why didn't we take a similar approach to AIG where? Effectively Uncle Sam was the debtor-in-possession financing. And when that worked out they captured whatever upside there was to be captured. Yeah. So I think look I think the the structure of the tar program which was where we in few ultimately determined to infuse preferred stock equity into the balance sheets of all the major financial institutions. I think there could be some serious criticism of the way it was done potato by. I think it may have created more of a political backlash for sure against the program that party and everything else. Well, I mean, they're the origins of do party or something we made for a while. But no doubt the crisis had some into. But I think the one I mean, the one criticism I would have of the initial tar program was that the as long as the preferred stock was outstanding the company should not have been permitted to pay the kinds of bonuses. That right. I mean. Long as you're beholden to the federal government for equity on your balance? And now the fed have to sign off on bonuses. Eventually they they didn't sign off on the two thousand nine bonuses two thousand eight bonuses. And I think that was the one those the bonuses that provoked the enormous political because most of backbone is not paying I think most Americans were kind of, you know, right in the view of like, wait a second. You're paying billions of dollars of bonuses with taxpayer money for bankrupting the company. Nice work. Here's a bonus. Now, the counter, you know, what secretary Paulson would say who designed this. These preferred is it was important that everyone participate every all the major institutions participate because we couldn't permit the negative inference that of Jamie diamond held out that he was the only solve Bank in America. And so they had to make the terms of the preferred as relatively benign and painless as possible..

federal government feds Lehman Brothers AIG Bank America Merrill Jamie diamond secretary Paulson America Lynch city fifty billion dollars ninety two percent
"bank america merrill" Discussed on Masters in Business

Masters in Business

04:22 min | 2 years ago

"bank america merrill" Discussed on Masters in Business

"And so I think it was just spectacular. Hubris? Yes. Zandt I think the regulators including Tim Geithner and Hank Paulson couldn't fathom. So one of the one of the conspiracy theories that a lot of people I think are pretty sophisticated people back. It was payback to Goldman versus Leeman thing, right? Just don't buy it. I think to the extent that that mattered at all, and by the way, remember that if anybody was pay back, there was Bear Stearns. Go back to long term. Capital management didn't want to. They didn't want to be. Part of the consortium that rescued who they were the prime broker for. So when when bear hit the deck earlier than Leman the deal that was actually Jamie diamond stole it right out from under. I think it was what co via was looking at it then and then get the fed to say, we'll commit to backstop if this goes over to nine billion dollars worth of junk. You sound some great deal makers in the crisis and some terrible dick fools was spectacularly. Not one of awful. And so I think that that ends up having to do with it. But I think the biggest explanation of all does come from Hank Paulson. He's the source for a Wall Street Journal. Editorial says after conservative ships as after the first week in September for family already. Senior administration officials assures us or a a in on the quote, there will be no political solution for Leman, meaning there's going to be no public money for Lehman. Right. All right. And I think at that point given the bipartisan Fuhrer over Bear Stearns and Fannie and Freddie that they had to find someone to say no to and they just didn't recognize that this was going to be the financial cataclysm that that ended up happening c l let me let me push back a little bit bailout nation. In I look Lehman Brothers as merely the first trailer in the trailer park. When the tornado came through everybody who is leveraged up with bed paper that was relying on either subprime role, Tae mortgages derivatives, and now they were one of the worst Bear Stearns was pretty bad. Edgy was terrible. Leman was one of the worst, but whether Leeming was rescued and not, that tornado was going through. You had home prices run up so much, and now we're collapse. Adding that that whole derivative unwind was gonna take place even if now, if you want to argue Lehman Brothers precipitated the conflicts ration- spreading faster. Well, you know, who knows? It's hard to argue against the. Let me ask you, put you put you on the hot seat then even though I'm the guests near the. Good decision, bad decision on Lehman Brothers, assume they had the thorny to do. So I'm telling you they did. I'm the wrong person to ask that I'll give you the answer, but the reason on the wrong person is I believe that see that sort of Doric building with the columns over there, pulled the bankruptcy court. That's there for a reason. Now, if you want to say, we're going to take all these banks and have Uncle Sam be debtor-in-possession. So my favorite example is Bank America Merrill Lynch that whole countrywide. Let's go over there. We take all the debts sticking into sell it. There's no such thing as toxic assets is only toxic prices. So this at a dollar one hundred cents on the dollars disaster, but twenty cents on the dollar for something where thirty seven is the winter. So you sell that stuff off. You clean up Merrill Lynch, spin them out. You clean up Bank America, spin it out. You clean up countrywide. You spend you go through this whole process. You do it one after another. Now maybe the Dow doesn't stop at six thousand maybe goes. Two, four thousand maybe unemployment gets worse, but you end up on the other end with a much healthier financial system. So I'm in favor of following the law, having people suffer the consequences of their actions. By the way, I would claw back all the stock options at all. These executives were get but tear the band aid off. It's really painful in, oh seven. Oh eight. Oh, nine. But in two thousand ten, you have a healthy economy even though what we did ended up saving the system, we're still dealing with the ramifications of that. And so my answer is you the reason nobody would come in and buy Lehman Brothers is I think they're liabilities vastly outweighed their death..

Lehman Brothers Bear Stearns Hank Paulson Leman Bank America Merrill Lynch Lehman Tim Geithner Zandt Goldman Leeman Wall Street Journal Jamie diamond Bank America Leeming Fannie Dow
"bank america merrill" Discussed on MAD MONEY W/ JIM CRAMER - Full Episode

MAD MONEY W/ JIM CRAMER - Full Episode

01:36 min | 3 years ago

"bank america merrill" Discussed on MAD MONEY W/ JIM CRAMER - Full Episode

"Wires ach zell payments is up nine percent over the first six months last year that was six percent the year before that and three percents so we got three six nine that's excel rations consumer spending and i would posture lead aside some completely out of character risk out there that the us consumer spending ten percent growth rate year every year that is a good thing for america in economy be good shape now that is on about a trillion four of dollars spent so it's not a small sample when you think about double that almost three trillion dollars for the year and think about that size relative con that's just the consumer side that that's literally me of money your account so you think about that growth rate that bodes well i heard from our team today that are internal people because a tax reform because of deregulation are probably saying that they're going to have to good team bank america merrill lynch research teams at four percent gdp growth for this for the second call they've moved it up a little bit three for the whole year two point nine three percent but this quarter they think it might have a four handle it that it will be a big number when you think about that's for the second quarter and you're seeing more people come along so whether it's three eight or four that's a big number in a relatively saad retail sales revise up heavily you see that consumer spending all that bodes well so we feel good about the us economy now is the unknown of this out there as dona that there's always an unknown right now the people employed they're making more money tax reform has benefited them tax reforms ben and companies in you're seeing that flow through the conman but great story great trip for our country great straight for bank of america that's brian moynihan chimney ceo of bank of america the stock is too cheap stay with kramer.

america ceo kramer us merrill lynch saad bank of america brian moynihan three trillion dollars nine three percent four percent nine percent six percent ten percent six months
"bank america merrill" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:39 min | 3 years ago

"bank america merrill" Discussed on Bloomberg Radio New York

"To masters in business on bloomberg radio my special guest today is the head of public policy at pimco libby cantrell was she coordinates both government affairs and the investment committees responses to political events and public policies she is a cfa charter holder and has an mba out of harvard business school let's talk a little bit about the changing role of women on wall street and i have to go back to a quote from michelle meyer she's one of the senior economists at bank america merrill lynch and she made a specific point of saying when she was coming up there were very few women role models for her to look up to an emulate as an analyst slash economist but it's beginning to change what are your perspectives on that topic i think it's changing but it's at a glacial pace honestly i think especially on the sell side and investment banks if i if i look back to when i entered finance back in two thousand about almost half of my analyst class where women which was i think really notable at the time i just don't think he would spin in some ways discouraging is that over time there have been many women who've dropped out of finance so it's not necessarily that we're not starting at the right place it's really a question of retaining them and developing them and promoting them and and all of those things but but to michelle's point it's certainly i.

libby cantrell michelle meyer merrill lynch bloomberg harvard bank america analyst
"bank america merrill" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:38 min | 3 years ago

"bank america merrill" Discussed on Bloomberg Radio New York

"My special guest today is the head of public policy at pimco libby cantrell was she coordinates both government affairs and the investment committees responses to political events and public policies she is a cf a charter holder and has an mba out of harvard business school let's talk a little bit about the changing role of women on wall street and i have to go back to a quote from shell meyer she's one of the senior economist at bank america merrill lynch and she made a specific point of saying when she was coming up there were very few women role models for her to look up to emulate as an analyst slash economist but it's beginning to change what are your perspectives on that topic i think it's changing but it's at a glacial pace honestly i think especially on the south side and investment banks if i if i look back to when i entered finance back a two thousand about almost half of my analyst class where women which was i think really notable at the time i just don't think either what's been in some ways discouraging is that over time there have been many women who've dropped out of finance so it's not necessarily that we're not starting at the right place it's really a question of retaining them and developing them and promoting them and and all of those things but you to michelle's point it certainly i think the the landscape and is looking different but also the commitment among senior leaders that are folks certainly at pimco you know from the ceo down are really committed to increasing diversity and it's not just lip service it's actually making sure that every interview slate has some a woman on it at the very least one if not more it's making sure that when we're looking at promotion classes that they're balanced it's making sure that we are looking to women for different opportunities instead of just instead of maybe just just sort of the conventional man so i think we're really trying to make a difference but it's again it's been it's been glacial it is look of almost the last twenty years in finance i have been involved in financial services and we haven't made as much progress as we really need to but i do think it's jay do think it's changing.

libby cantrell senior economist merrill lynch ceo jay harvard bank america analyst michelle twenty years
"bank america merrill" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:38 min | 3 years ago

"bank america merrill" Discussed on Bloomberg Radio New York

"In business on bloomberg radio my special guest today is the head of public policy at pimco libby cantrell where she coordinates both government affairs and the investment committees responses to political events and public policies she is a cfa charter holder and has an nba out of harvard business school let's talk a little bit about the changing role of women on wall street and i have to go back to a quote from michelle meyer she's one of the senior economist at bank america merrill lynch and she made a specific point of saying when she was coming up there were very few women role models for her to look up to an emulate as an analyst slash economist but it's beginning to change what are your perspectives on that topic i think it's changing but it's at a glacial pace honestly i think especially on the side and investment banks if i if i look back to when i entered finance back a two thousand about almost half of my analyst class where women which was really notable at the time i just don't think either would spin in some ways discouraging is that over time there have been many women who've dropped out of finance so it's not necessarily that we're not starting at the right place it's really a question of retaining them and developing them and promoting them and and all of those things but you to michelle's point it's certainly i think the the landscape and is looking different but also the commitment among senior leaders that are folks certainly at pimco you know from the ceo down are really committed to increasing diversity and it's not just lip service it's actually making sure that every interview slate has some woman on it at the very least one if not more it's making sure that when we're looking at promotion classes that they're balanced it's making sure that we are looking to women for different opportunities instead of just instead of maybe just just sort of the conventional man so i think we're really trying to make a difference but it's again it's been it's been glacial it is looking for almost the last twenty years in finance i have been involved and and financial services and we haven't made as much progress as we really need to but i.

libby cantrell michelle meyer senior economist merrill lynch ceo bloomberg nba harvard bank america analyst twenty years
"bank america merrill" Discussed on Masters in Business

Masters in Business

02:08 min | 3 years ago

"bank america merrill" Discussed on Masters in Business

"Probably several interviews but there's one interview i think from nineteen eighty seven or something with oprah or you're talking about japan i have the exact same feeling that you do when people say well these tafs are shocker really he's been pounding the able about this for now that you have to agree with the tariffs but you shouldn't be surprised right and so and you go back to twenty seventeen and i think people that okay well he hadn't done anything in twenty seventeen on trade and i would be too pedantic i would i would take issue with that as well because if you actually look at what he was doing and what his trade representative bob lighthizer was doing what will ross was doing commerce they were laying the foundation for these tariff so you know not to not to bore everybody but before you can just pursue tariffs you have to go through this investigation process and that's you know several took in this case almost a year to do so on stealing aluminum that was initiated back in april twenty seventeen and then of course they just made the decision most more recently on on how to on how to proceed but this this felt pretty clear that this all these things were coming and i think the credit of our folks at pimco they weren't necessarily surprised that the that this happened but of course you know this is this is determining how markets are reacting so it's something that we've been talking more recently about let's talk a little bit about the changing role of women on wall street and i have to go back to a quote from shell meyer she's one of the senior economist at bank america merrill lynch and she made a specific point of saying when she was coming up there were very few women role models for her to look up to an emulate as an analyst lash economist but it's beginning to change what are your perspectives on that topic i think it's a mean it's changing but it's at a glacial pace honestly i think especially on the sell side investment banks if i if i look back to when i entered finance back two thousand about.

oprah japan bob lighthizer senior economist merrill lynch representative ross bank america analyst
"bank america merrill" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:16 min | 3 years ago

"bank america merrill" Discussed on Bloomberg Radio New York

"Is kathy fisher she is head of wealth and investment strategies at alliancebernstien affirm that manages about five hundred and forty billion dollars in assets let's talk a little bit about what it's like for you as a woman working in a field that's been so male dominated for so long have you seen any improvement have things gotten better are there more opportunities for women in this field things have definitely gotten better the it's very obvious that the industry wants women for the right reasons i e we want versus the diversity of thought we want women we want people of color we want to have much more different kinds of input so many studies have shown how much better teams are when they are diverse and we want to have that advantage and also our clients expect it which which is good i think you get you get a lot of positive reinforcement and i do think one of the reasons things are getting better is a companies are so much more flexible than they ever were before and and that's good for men and women right the fact that there is much you can work remotely these are all good things that encourage a fluid and adaptive workforce that the benefits everyone the pay differential between men and women is as bad as it was getting better problem with any kind of pay measurements is that it's very hard to actually look at a dental jobs i would argue that certainly at my firm and at every firm i know people get the same pay for delicate jobs it's really that's the challenge is actually saying each job how you measure each job michelle myers of bank america merrill lynch specifically cited a lack of women at the top of the industry as a challenge for women and finance and i'm assuming she means a lack of role models lack of mentors what was your experience coming up through morgan stanley jp morgan and now alliancebernstien so they started saying i'm a partner at our firm and that is wonderful in that i and my other senior female colleagues are very focused on coaching mentoring and sponsorship of young women that is absolutely a dominant force when i was younger i was kind of lucky in that i never felt the need to fit in and.

kathy fisher michelle myers merrill lynch jp morgan partner morgan stanley forty billion dollars
"bank america merrill" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:50 min | 3 years ago

"bank america merrill" Discussed on Bloomberg Radio New York

"Of wealth and investment strategies at alliancebernstien affirm that manages about five hundred and forty billion dollars in assets let's talk a little bit about what it's like for you as a woman working in a field that's been so male dominated for so long have you seen any improvement have things gotten better are there more opportunities for women in this field things have definitely gotten better it's very obvious that the industry wants women for the right reasons i e we want diverse the for diversity of thought we want women we want people of color we want to have much more different kinds of input so many studies have shown how much better teams are when they are diverse and we want to have that advantage and also our clients expect it which is which is good i think you get you get a lot of positive reinforcement and i do think one of the reasons things are getting better is companies are so much more flexible than they ever were before and that's good for men and women right the fact that there is much what you can work remotely these are all good things that encourage a fluid and adaptive workforce that it benefits everyone the pay differential between men and women is as bad as it was getting better problem with any kind of pay measurements is that it's very hard to actually look at jobs i would argue that it certainly at my firm and at every firm i know people get the same pay for delicate jobs it's really that's the challenge is actually saying each job how you measure each job michelle meyers of bank america merrill lynch specifically cited a lack of women at the top of the industry as a challenge for women and finance and i'm assuming she means a lack of role models a lack of mentors what was your experience.

michelle meyers merrill lynch forty billion dollars
"bank america merrill" Discussed on Masters in Business

Masters in Business

01:45 min | 3 years ago

"bank america merrill" Discussed on Masters in Business

"Torrential between men and women is as bad as it was getting better problem with any kind of pay measurements is that it's very hard to actually look at a dental jobs i would argue that certainly at my firm at every firm i know people get the same pay for dental jobs it's really that's the challenge is actually saying each job how you measure each job michelle myers of bank america merrill lynch specifically cited a lack of women at the top of the industry as a challenge for women in finance and i'm assuming she means a lack of role models lack of mentors what was your experience coming up through morgan stanley j p morgan now alliancebernstien silly start saying i'm a partner at our firm and that is wonderful in that i and my other senior female colleagues are very focused on coaching mentoring and sponsorship of young women that is absolutely a dominant force when i was younger i was kind of lucky in that i i never felt the need to fit in and that meant that i wasn't looking as much for female role models as perhaps some people might have been back then and therefore didn't stymie me because i always thought that if you had good ideas and were contributing you would be rewarded so i was very lucky that it didn't trouble meet meet too much into much into the so you suggesting you stood out as a woman and there was an advantage to that i i will not go that far i will say that the i that i think some of the frustrations at some people may have had in their careers i didn't have an and was very fortunate in every firm i worked for not to have had those.

michelle myers merrill lynch partner
"bank america merrill" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:59 min | 3 years ago

"bank america merrill" Discussed on Bloomberg Radio New York

"You've got the dates check for is just say we're getting an update from erects the options derivatives exchange saying that they are continuing to experienced technical problems they say continuous trading to start at nine twenty am updates our updates on the shed you'll expect pretrading to start at eight fifty five thousand fifty five minutes time we'll also be live in moscow this morning with our reporter ahead of the elections there we're going to be following the ck hutchison reports we've got four of the big companies reporting out of asia li kashing gives his press conference you can follow that on the t live blog if you want to get it up on your bloomberg now but in terms of what we're looking at in the markets is a lower open for european equities on newstalk six hundred fifty one hundred tenth of one percent a cat karen head south also eight tenth of one percent although we have actually seen record weekly inflows into stocks into extra funds globally forty three point three billion dollars in terms of the weekly inflow that from bank america merrill lynch let's have a look at the euro this morning once for twentythree eighteenth has stronger a tenth of one percent interestingly blacklock was she's manner money manager betting on a big sterling move one way or the other is all tied to the brexit negotiations of course the pound is at one sport thirty nine forty one this morning this after the snp yesterday fell for the fourth day in a row it close below is fifty day moving average and us ten year treasury yields have dipped just slightly two point eight one five percent this morning that sam one a half basis points and germany yell yields bond yields are not point five seven six percent this morning after we also had a slightly lackluster session in asia the nikkei close lower six tenths of one percent but we did see and continue to see a very strong japanese yen strengthening six tenths of bump sent one five spot sixty six it's both the issues around the trump white house but also what's going on with the ave administration that seems to be having a big impact in the.

moscow reporter bloomberg newstalk blacklock snp ck hutchison merrill lynch sam germany one percent eight fifty five thousand fift eight one five percent five seven six percent three billion dollars fifty day ten year