17 Burst results for "Jp Morgan Bank America"

"jp morgan bank america" Discussed on CNBC's Fast Money

CNBC's Fast Money

06:14 min | 6 months ago

"jp morgan bank america" Discussed on CNBC's Fast Money

"What's coming up next. Banks tank, we'll dive into the report that found widespread misconduct in the sector and what it means for these names plus what big changes at the Supreme Court mean for the State of health care in the country and the stock that could feel the most pain we've got that and a lot more when he returned. Welcome Act fast money bank stocks getting crushed today a new report about the big firms dealing suspicious finds Wilford. Frost Scott the details wealth harmless. So Bank stocks were down sharply today following large declines for their European counterparts, Deutsche Bank for example, closed down nine percent on European trade. Standard Chartered down about five percent both hitting twenty five year lows in London trade earlier US banks ended up down about four percent. This is in part due to investigation by the International Consortium of investigative journalist that highlighted suspicious activity from various banks in the past specifically money laundering following a review of more than two thousand, one hundred reports filed by the US Treasury financial crimes. Enforcement Network a slew. Mentioned including I said HSBC Bank Standard Chartered JP Morgan and Bank of New York Mellon amongst others clearly, this activity is embarrassing for the banks however important to note in the past and that government and regulators were already aware of these details since suspicious activity reports by their very nature all reports between the banks and the government in the first place for example, for example, Deutsche Bank told me this is not new information to us or regulators Today off therefore much more down to the broad cyclical selloff linked to covid economic headlines, and also that Supreme Court news further making a stimulus bill less likely something that banks are disproportionately reliant on compared to some other sectors Melissa. Well, thank you, well, for Frost on the banks One one sentence wilted said really stood out to me Karen and that is it is not new to us or regulators, which really makes me think that maybe the regulators will be perceived to have let these banks go off get off too lightly when it comes to some of these the suspicious activities. Yeah I mean I guess. So I think one of the things that sort of maybe weighing on the stocks today as well as this is the idea of maybe we have an administrator, a new administration that will be tougher on the banks and even though this one may have been in the past what might the future look like if we were to see repeated issues this or other ones, but all of the banks were down. Not dissimilar mouths and ones that I follow JP Morgan Bank America city and Wells Fargo fi about that three or four percent. So I'm not sure how much is this? How much is as Wolf said the potential lack of stimulus and how much is just the economy the market being? Being down, it was very, very tough day for me. Yeah. I mean they're they're numerous things you could point to is reason why the banks would be down in a session today Brian Kelly. And I would add to that. And wealth brought it up some of the European banks just trade like death they they look horrible the markets telling you that there's not much worth in those equities not saying there's a banking crisis coming just saying that you know there's not there's not much to these European banks if they get another lockdown that's going to be a problem but I am the last thing I would point out is you know if anybody ever tells me that Bitcoin is used for criminals money laundering, I'm just GonNa, point them right to this report, and that's how that ends the conversation. That's a very good point guy down I feel like we haven't mentioned Deutsche Bank or you haven't mentioned your bank in. Ages, and here we are tonight. Guys don't you I got tired of just just got tired of just. Basically Hammering Deutsche Bank at every turn, but quite frankly they've deserved that and I find it fascinating. I don't think and you can correct me if I'm wrong. I often am but I don't think Wells Fargo was mentioned that yet wells Fargo got crushed as well and I think to your point I think it's a point worth making the real existential risks for banks on top of everything else is the role that Elizabeth. Warren. Could potentially play in a Biden administration if he were to win I think that's potentially I won't use the word but catastrophic for the banks in terms of what could happen with regulation going forward and to me that's really the Tel riskier. So Citibank trading, it's sixty three percent of tangible book we mentioned for a while those are levels we last onto financial crisis that is extraordinarily telling and the fact that Warren Buffett? pared-down. His us. Bank exposure few weeks if not a month or so ago is also. A huge tell and I think that's where we are in a banks right now they're they're clearly not as important a vertical that they used to be, but you absolutely have to watch these things. You know I get that there there's value in the bank shares of the training of discount compared to historical basis tim a reasons why you were along the banks at the same time. It seems that there are so many risks coming up in the horizon what is the most concerning in your view? Yoga also said if you get to a fork in the road, take it and I think that fork in the road obviously that doesn't really make sense does it now but let let's talk about the dress capital buffer that the the Fed didn't talk about last week or let's talk about limitations on on buybacks and dividends. I think investors are voting with their feet right now. Karen Guy Brian of talked about some of the issues and potentially some of the issues on a regime change but these may be issues that are independent of a regime change. I, I, just think the way banks have traded since those stress tests and you throw in cities problems and and yes Deutsche. Deutsche Bank gaps below it's two hundred day today to tells you that There are some concerns there I. Think it's bachelor the Dunham for banks. It doesn't get better in the short run but I remain long money setbacks coming up more today. Today's crude collapse operators.

Deutsche Bank Hammering Deutsche Bank HSBC Bank Standard Chartered J JP Morgan Bank America Supreme Court Karen Guy Brian Warren Buffett Bank of New York Mellon Wells Fargo Deutsche Standard Chartered US Brian Kelly Scott US Treasury Wilford
"jp morgan bank america" Discussed on CNBC's Fast Money

CNBC's Fast Money

08:49 min | 10 months ago

"jp morgan bank america" Discussed on CNBC's Fast Money

"The Fed making history today and for the first time ever a be began buying corporate debt. Etf'S THE UNPRECEDENTED MOVE. Driving an explosion in the corporate debt market. Nine hundred and ten billion dollars. That's how much corporate debt has been issued this year alone and that is up ninety two percent from a year ago and get this. According to a new survey by Bank of America corporate bond investors are now the most bullish they have been since two thousand six with the Fed officially in the market. Is it now the time to sell that debt guy? Not a bond person as you know and the short answer is probably no if they're gonNA backstop things is vibrant. Is the market seems to be. You probably got a hold on but with that said you know you know where I stand on this and I think it's ridiculous that they're going down this avenue and the next stop is probably going to be individual equities at some point which is really ridiculous. I'm a big believer in corporate. Darwinism allow it to manifest and let the chips fall where they may. The Fed is just taking price discovery out of the equation. So as much as I'd like to say sell into the Fed I mean you know the old adage don't fight them probably hold true in the corporate bonds as well are you still short H. Y. G. Karen Short short L Q D which really sort of somewhat hedges against the bank till. They didn't didn't work out today. I mean I think what the Fed has done is just absolutely brilliant just by saying. We're going to do this in the future. They announced this in March. They didn't even get started until today and he had this sort of instantaneous. Healing of the corporate bond market is really extraordinary. I mean you talked about the issuance. Those are gigantic numbers which also helps the banks of India city in JP Morgan Bank America. I mean they're capital markets. Desk not been as busy in years. So that's good for them but I think it's a it's a bit of a by the rumor. Sell the news in that. We don't know exactly how they're going to be putting the money to work we. It's up until September thirtieth twenty twenty. Although it could be extended there the first phase is going to be the biggest phase what they call the stabilization phase but in my stabilization has already happened. And we're going to see maybe once a week we might see an update on what they've bought and they really need to put it all the work successfully. They've been successful in what they've tried to do which stabilize the credit markets so. Kudos to them. I don't know how they get out of it but maybe they can just go slow for a while and kick the can down the road. Yeah aren't our our next guest says the Fed should not be buying corporate debt. Let's bring in Jim Bianca Bianca Research. Jim One out there opening up again words and Just a little nuance in the conversation. Before the Fed started on bond today they haven't yet started buying corporate debt. That's still another ways away. They've got some operational issues. They've got to work out but they also promised us that they will do it. There was Karen said in a massive announcement effect on late March when they made the announcement that the debt market turned around and opened up and allowed a lot of companies to issue bonds in order to replace their credit lines that they were drawn down with. The Fed is not going to walk away after the but they're gonNA keep buying but today was a watershed day and that they bought. Et APPS now. The big problem is I think that they've got two full problem. One how to get out of it is going to be is going to be a big problem for them. I'm not even sure how they even ended at this point. I know. September. Thirtieth is a date. They're going to end it but technically they need the treasury's approval to do that as well to they need the treasury's approval to change these programmes in any way five weeks before the election. The trump administration is going to say no. You don't have to keep supporting the markets anymore. So of course that's going to get get extended and then extended extended and so they're opening up there. May they may have solved a short term problem in March and April fifth. The markets were being dysfunctional but as Warren. Buffet says there might be extreme long-term cost to this as we go forward from here. Well one long term cost. Jim Obviously could be you know in terms of short-term solving the problem you're solving short-term liquidity problem but as we get out of this pandemic we might have businesses and consumer behaviors that changed fundamentally and you may have a solvency issue on your hand and all of a sudden. The Fed is holding the bag. There I mean. Is that what you mean by? The problem is how does the Fed get out of this thing? Yeah well I think there's problems at the feds. GonNa have first of all the solid Sushi another way. The market is thinking about this. Let me use some of the examples. Like six flags or carnival. Crews that has raised a lot of money is. They've raised enough money for the market that they don't have any revenues till next summer and then the argument is by the summer of twenty one. They should be restarted at some point and then they could pay off that debt in the bondholders. Knowing the Fed is backstop. A big thing. That's why you've got the most bullish. It's two thousand sixty over. Underlying theme is of course Bush in the bond market. The Fed is behind this thing and making sure it's going to be together. So why would I buy it? So you by carnival. Cruise you by six flags on the idea. You can get them through to next summer and then they can start. So that's an assumption. It will have to see whether or not that actually works. The second problem the feds. GonNa have when you start getting into corporations. Is You have to potential a restructuring. You have the potential to make a vote on how to run the business. They desperately don't WanNa do that. But they might be forced into those types of proxy battles or types of restructuring type of votes. That need to be happening when you own. Less than investment grade junk on a bond accompanied that restructuring. So they're going to have another issue with that as well to ten question. Jim Really clear thoughts. Thank you are we not now Japan and ECB ECB in the summer of two thousand fourteen. Use the exact same backdrop and by the way we're going to negative rates fed funds futures. Are there so what is different about the Fed and the B. O? J. C. B. Right? Now the only big difference right now is one you like you said we are going to negative rates but the. Fed has been insistent. They don't WanNa do it and J. Policy. To speak tomorrow is supposedly. He's going to say we're not going to go to negative rates and then you can punch out. Fed on futures on your screen. You'll see they're going to price it negative rate so they're supposedly not gonNA listen to them so say they don't WanNa do. The Japanese. Were very much in favor but I think the bigger thing we have to be careful of is after two thousand fourteen in especially two thousand sixteen when the Japanese ratcheted up liquidity by market disappeared. It's ten percent of what it used to be five years ago. There are days when government bonds go in Japanese government. Bond Market that don't trade once if you nationalize market you take it over like that. Out All the private sector players all the brokers in the dealers go away and you have no more liquidity and it becomes a permanent fixture of the Central Bank or the government itself. And that's a dangerous place to be in the long-term the Japanese have found that out because they really can't do anything with their with their economy with it and I hope we don't get to. That point is well Jim. It's always great to speak with you. Thanks Bianca Research Grass. What are your thoughts here? So I respect Jim. I liked his work but as he just finished off. He hopes we don't get there yet so I don't think we're there just yet. But what was the alternative so in March? If we didn't hear the Fed make any of these statements. Where would the market have have gone to get it? People want to see the chips fall ally where they may but I think the Fed actually saved the equity market. And if you look at the H. Y. Jumped twenty four percent from that March low. But it's starting to roll over now so I think people know the script. Have they play it from here? I think you have. The Fed is the bond backstop for the foreseeable future. And I think we are in a holding pattern for many things for the next couple of months but I don't think that we are past the point of no return just yet coming up if you open.

Fed Jim One Bond Market Jim Bianca Bianca Research H. Y. G. Karen Short Bank of America treasury Jim JP Morgan Bank America Japan Bianca Research Grass India Buffet Warren six flags government Bush
"jp morgan bank america" Discussed on CNBC's Fast Money

CNBC's Fast Money

03:30 min | 2 years ago

"jp morgan bank america" Discussed on CNBC's Fast Money

"Stocks are trapped in the danger zone during what could be the most important week for the market yet. But one top strategist will explain why he sees a light at the end of the tunnel. I am seriously thinking of running for president. Okay. Not exactly, but as the former Starbucks EEO considers jumping into the ring the traders tell you the they think would make the best president much more fast money right after this. Welcome back to pass on five hundred stuck in the dangers trop. Twenty six hundred twenty six fifty which is the range the market broke below as spiraled towards new lows and despite the runoff, those Lowe's, stocks still might not be in the clear Papa Sahni's at the NYSE with more. Hey, Bob, low Melissa the markets come a long way since bottoming on December twenty four th the S and P five hundred hits covered all those three quarters of the losses. We saw in December. But in the last two weeks, it's had a hard time getting decisively over twenty six fifty and regaining that last one hundred or so points to get us back to those early December highs now those three things that have shown to be consistently moving markets in earnings perceptions. The first is perceptions that the fed at other central banks are becoming more dovish that not only will they not raise rates, but they may also return to stimulus mode, if they have to the second is, of course, hopes for a positive trait outcome and finally slower global growth and today. Video and Caterpillar sent the message to the markets that even with the decline in December earnings estimates the numbers twenty nineteenth earnings estimates are still too high. Now, remember more than forty percent of earnings in the p five hundred occur outside of the United States. Twin both of these companies talk about slower global growth. It's a big issue, particularly for industrials and for technology. But how much slower is global growth that's hard to figure out. First quarter, earnings estimates have already come down dramatically from eight percent at the start of Tober to below two percent today. This is the first quarter of the battleground is now between those who believe earnings will stay low but positive for the full year. And those who believe that earnings recession is likely that is two consecutive quarters of negative earnings growth now one positive development, even as most sectors grouped banks open week, and they quickly rallied the big names JP Morgan Bank America, a lot of the regionals Comerica all ending in the green today. The Bank ATM. The KB has rallied even as other sectors have moved sideways in the last week. It is the biggest sector gainer for the month. KB's fifteen percent. It's now sitting at its highest level since this ember, so Melissa maybe a little rotation going on here into the banks, and maybe a little bit out of industrials back to you. All right. Thanks bye. Bye Sahni at the NYSE. Our next guest has Wall Street's biggest bear he says get used to life in the danger zone. Let's welcome back. Chris Harvey Wells Fargo securities head of equity strategy. Chris great to have you back to be nice to see you. Bob made a number of good points. But I think one of the most salient points that he made in this earnings context is the fact that even if you don't extrapolate Caterpillar in Invidia to the rest of their sectors of the rest of the markets. The earnings report in the guidance really just underscores this notion that perhaps estimates are just too high across the board..

Bob president Papa Sahni NYSE Chris Harvey Wells Caterpillar Starbucks United States JP Morgan Bank America Melissa Tober Lowe Invidia fifteen percent three quarters eight percent forty percent two percent two weeks
"jp morgan bank america" Discussed on CNBC's Fast Money

CNBC's Fast Money

03:46 min | 2 years ago

"jp morgan bank america" Discussed on CNBC's Fast Money

"Twenty percent off their fifty two week high. Now that means half of the Dow is either in correction or bear market territory. Now much of this damage did not just occur this month, the Bank, stocks JP Morgan Bank, America, golden, they all peak way back. March they've been weaker as rates have stalled out and loan growth has been fairly anaemic. Really? It's the same story with the industrials in the materials like Caterpillar and three m and Dow DuPont, they all peak the sensually in the first quarter, and they began dropping on trade concerns, many many months ago, but big cat growth tech names like apple Microsoft, Cisco. They all held up. Really, well, they were the big market movers going into the fourth quarter. And that's when they started county big problems right at the beginning of October all of Apple's decline has occurred since October first Microsoft, by the way, which briefly pass apple is the largest company in the P five hundred dropped thirteen percent this quarter as well. But it stays the remarkable comeback in the last seven eight trading days. It's now down only three percent for the quarter. Melissa we're about to start the NYSE Christmas party. And I wish all you guys were down here with me maybe next year, you can come down here. Well enjoy. Thank you. Johny at the NYSE. So given all these news we thought it would be the perfect time to play a little. Who better to be that from the dealer, no deal host and executive producer himself? Howie Mandel, welcome how each of the show you wanna go to the roles here. Here's how it's gonna work guy over there. He's going to be the condemns import today, we see with Howie each of the traders here on the desk. Hold of a case guy will pick the trader, and they will reveal the stock and its closing price. And then guy will decide if it is a deal, meaning a by at the current levels or no deal. Meaning it's got more room to fall. All right, everybody got the rules set with their cases how he take it away. You just explained everything. The ideas for me to explain. So did you hear what she said? Yeah. But I'm not that bright housing. Can you just give you understand? So there are they got three cases. Each of those cases, holding the name of the stock. I'm gonna ask you deal. I gonna ask you to pick a case, I'm gonna say dealer. No deal. You're going to tell us whether it's a deal whether we should buy or is it still going down at no the ready got it before we start. Yeah. Happy birthday. You know, we've had monarchs kings heads of state, right? You're Howie Mandel. I know you're the biggest start we've ever had. Good. I'm just saying is that a compliment to me or am I doing the show? It doesn't matter. I guess I'm the real deal. Okay. So normally the interview, but they all know yet. Well, of course, but I'm gonna tell you to pick a case, there are three cases. Look at our lovely models today. Pick a case picking number help me how please it's so hard to pick between the three just helped me to pick one. Please. I'm asking you. Are you serious? No, I'm not I'm not really smell me here tonight. I just got here you've been practicing all day. Karen cans, my always been my favorite. Karen? Karen, wait, oh, the host. Why am I even here? I don't know how that's why. I'm the most important guest. You've ever had on the show. No, you've already said listen to him. Karen, you work with him. I'm going to be gone to more. Go ahead. He's helping the case open your case at apple. So I'm gonna ask you. So apple closed. I think it says one seventy nine fifty five right deal or no deal. So hard me pick deal. I'm gonna say deal. And this is why I'm gonna say listen I've been wrong on the stock for quite some time. How you watch show. So you know, what the other day President Trump tweeted about apple? And if you go back, and look he tweeted about Boeing after that, the stock went straight up Lockheed Martin the same thing and the same thing happened with what Pfizer. So I'd say he'll he's tweeted about Rosie O'Donnell. I don't see her anywhere. Excellent point. All right so deal. Oh deal. Okay..

Howie Mandel Apple Karen cans JP Morgan Bank Trump Dow DuPont Microsoft America Caterpillar Johny Cisco Melissa executive producer NYSE Pfizer Boeing Rosie O'Donnell President Lockheed Martin thirteen percent
"jp morgan bank america" Discussed on KSFO-AM

KSFO-AM

08:05 min | 2 years ago

"jp morgan bank america" Discussed on KSFO-AM

"Nine th day of November and taking a look at the stocks this morning. I shares were higher mostly across the globe. Following Wall Street's moves yesterday. Stocks rocketed to their biggest gains in eight months Wednesday following comments from the fed reserve chair Jerome Powell the Dow surging six hundred seventeen the S P advanced two point three percent. And the NASDAQ rose two point nine percent. The Russell two thousand up two and a half percent. So what did the fed reserve chair say to make everybody skipper? Let's bring in our regular guest. Crisper safe with tomato research, also the author of cocktail investing as well as the co host of the cocktail investing podcast. Good morning. Chris. Good morning. I'm well. Thanks for joining us. As always we appreciate it. Let's talk about jerem Powell's comments yesterday. Struck a positive tone on the economy. Of course, we know those those rate hikes are cooked in to rise again next month. But. Who knows about next year? Chris what did what did you hear from the F that cut your ear? Yeah. I I think you're right. The the December rate hikes, you know, pretty much fake take the question is what about before that are specified for next year. And it's fascinating to me. Because if we take Powell's comments just compared to two months ago where rates were nowhere near neutral. Now they're much much closer to neutral. You have to ask yourself. Eight weeks we saw that we've seen the stock market. If back all of his games, we've got a number of data points that suggest the global economy as well as the domestic economy are slowing considerably. And I think what your listeners need to. Remember is that monetary policy is not fixed. It's rather flexible bydesign react to what's going on. And I think the notion behind Powell comment is just that the economy has slowed in the need to get rates where they were. Hi. In order to keep the economy, kind of even keel, remember too. We've seen this sharp plummet in oil prices. That's obviously going to be. And I think it gives Powell in the fed a lot more room to breathe and potentially run. Well, you mentioned oil drop below fifty bucks a barrel in New York for the first time in more than a year. What's going on there? We know Saudi Arabia, but but what's happening with OPEC. Well, I think it's a couple of things Matt I mean one you have to remember that you know, it's a commodity was subject to laws of supply and demand. So let's let's look at vote on the demand side, take the commerce. I just made it right? Whether the global economy is slowing so Nathan crude is softening then there's the supply side, and as you just pointed out, it looks as if you know, some of the production cuts that were had been expected earlier may not be there. And I would argue that as foil balls further. Odds are that we will not be any production cups because these these nation states will to get as much money inside to them as possible. So it's a very interesting next couple of weeks on the oil. Brought my my prediction is that. We'll probably see oil that allow all somewhere between forty five fifty per period of time. I like it. Let's see here. Chris. We've got some breaking news this morning. Chris. Deutsche Bank offices have been raided one hundred seventy criminal police officers. Prosecutors and tax inspectors searched six offices in and around Frankfurt on money laundering allegations. How is this significant if at all to the US? Well, you know, the Bank has a presence in the US both, you know on on investment banking commercial banking tied. So it's really going to be a question of, you know, which companies were banking with them. What Specter's does this raise? It also is another question of overall credibility or. Industry, I'm afraid. So so I think that there will be companies that are beyond reproach JP Morgan Bank America city, but it is gonna raise in flag. Remember too that in some respects investors are just getting over the news with Wells Fargo. Yeah. It's another tinge of uncertainty. Yeah. That's a good point tobacco company. Altria is reportedly in talks to take a minority stake at twenty to forty percent in e cigarette maker jewel labs. This is a significant jump here. Chris not only to go into the e cigarette market, but you wondered on this show. I'm sure elsewhere as well why a lot of the tobacco companies haven't made the move to the marijuana market. The medical recreational marijuana market this way for that. Oh, go ahead. If ads. So the whole thing is kind of interesting because the FDA investigating Joel and its ability to use their words book younger Americans, but it's understandable that you know, with tobacco under fire. These guys are looking for other growth opportunities, and I agree with you. But at some point, I think they will Wade into the marijuana market. But let's remember that marijuana is not big on all fifty states, and it's not legal at the federal level. Right. So if you can't you're not legal at the federal level. How can they duck business? You know with me on this. Sell product monetize it and collect you know, the revenue stream and deposited into a Bank. You can't do that. The the huge headwind. I think you know, look based on what's happening in Canada. Do our prospects for legalisation the US better than they've ever been. Yeah. I think they are. It's just going to take some time. I think I think the response again circle back fuel is I think all trade is trying to figure out. Okay. What can I do in the near term something that hasn't been reported much? Chris under reported Senate majority leader Mitch McConnell is backing the legalization of ham. Of course, he's done. So since two thousand thirteen but he's trying to squeeze it into the year end spending Bill and that could that could. I mean, you're talking CBD oil everything else that goes along with that. So that could. That that could bring to the forefront. They're all right. The juniper juniper lot out it's drawing mixed reviews. I know I know you had one yesterday I had one a couple of days ago. Starbucks new holiday, drink your thoughts on it. It's not quite a milkshake. It's not a Frappuccino. So I like that. Yeah. I mean, it's. It was fine. It wasn't anything. Is it the? I remember like the pumpkin spice latte or some of the other what I called liquid cracks drinks. It's not quite that caliber. But is it a little different? Yeah. Is it worth the premium price? Maybe not. Well, I I compared mine too little too close to Jenin Todd. I I like my gin and tonic. My sapphire and tonic to be separate from my. Here's the thing. You know, you're out on out in California where it's still probably. Fifty degrees. I'm staring outside of the window with huge wind, and it's probably thirty to thirty does not work. Know, it's I think it's about forty nine here right now. Blustery and raining. But yeah, I feel you now if they can come up with a drink tastes like bullet bourbon that might be interesting this time of year. There you go Irish coffees the answer, Chris Irish coffee all the time here in the winter. I drink them every day during the show, Chris we appreciate your time. As always, my friend. Thank you. All right. Have a good week off. That's Christopher says he joins us each Monday and.

Chris Irish Jerome Powell marijuana US fed Deutsche Bank Saudi Arabia JP Morgan Bank America Frankfurt OPEC FDA California Canada Matt Wells Fargo
"jp morgan bank america" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:11 min | 2 years ago

"jp morgan bank america" Discussed on Bloomberg Radio New York

"Chase Wells Fargo and CitiGroup report results on Friday. Here with a preview is Bloomberg's John Tucker. All right. Thanks, bob. And I'm joined on the line by Bloomberg intelligence, senior financial services analyst, Allison Williams. Allison, one of the things I'm gonna go right to line item, the operating income, and it looks like these banks you compared to five years ago right now, they're just minting money. We are looking for a very strong quarter for the US banks in terms of overall profitability. And if you look at compared to five years ago, not only do we have a very strong economy. We have the benefit of taxes coming through to the bottom line. And we also have very good cost control. This is sort of a long term process for the banks. And we think that's an area where we could get some positive surprises in the quarter. Okay. In terms of the prophet post crisis has how does it stack up? I think this quarter could actually be a post crisis high and again there is relatively healthy benefit from the lower taxes. Part of it is that we have in several rate increases at this point that helped net interest margins over time, we have had progress on the cost side, and at the same time credit, strong and stable probably the least thing that we focus on at this point and the and the psychologist. That's interesting that you say that because remember credit was such a big deal. Why why isn't it the case anymore? It is in sharp contrast about a decade ago. This would have been the number one topic and today because credit is so strong and expected to be stable to probably the least thing that we're focusing on. And obviously one of the biggest drivers of the strong credit is the strengthen the US economy. No, having said all that tell me why stocks are under performing to some extent. I think the fundamentals are actually growing into the stocks. If you will. So keep keep in mind that we had a very big move in the socks post election, huge outperformance last year, the stocks generally performed in line with a strong market and this year, they've been underperforming, despite the fact that the banks are achieving profitability that we spoke of earlier, they are benefiting from strong stimulus and from less regulation and more clarity on regulation. All of which was I think. Factored into some of the moves that we had initially following the election and of late with the banks. We do continue to get the benefit of rate increases the one area that's been stalling out is alone growth and RBIs may be due to some of the global concerns out there. There's a lot of uncertainty around taxes last year that had sort of stop things, and I think investors are really hoping for a pickup this year. Once we got that clarity now with investors focused on sort of global picture and concerns there the the question of loan growth. I think really is the big one for the quarter and going into next year at Alison, let's do the specific names. Maybe we could start off with with city group and a lot to do with their card business right car. Business will be a focus for us. Both in terms of what's happening with credit and what's happening with revenue. I think sorta the ladder revenue item is the area where. There's more potential for a disappointment in the near-term on the credit side of things. I think credit broadly remains very strong for the consumer as well as trans all, but we do worry a little bit about some of the competition in the market and the impact that that sometimes can have on credit and Wells Fargo, if we talk about wells. We're gonna talk about long growth, right for Wells Fargo, the balance sheet really is the focus and in a quarter like this. You would normally expect Wells Fargo to outperform some of its larger here, CitiGroup JP Morgan Bank, America. Just because capital market revenue is expected to be relatively muted this quarter. However, because Wells Fargo does have these abound. She constraints you could actually stay revenue declined for the Bank this quarter. And what about G peat mortgage? Chase gave me Morgan as always well, set the tone and the bar if you will for the banks in the coming days and weeks after their report in terms of the capital markets. We are expecting muted revenue for the industry, but it'll be interesting to see if they do get some help from the US equity underwriting business IPO's were w year ago. It was a very strong third quarter for the business. Bloomberg intelligence senior financial services analyst, Allison Williams. Thanks for joining us. We're looking forward to hearing more from you. J P Morgan Citi and Wells Fargo report Friday Bob going up on Bloomberg daybreak weekend with the new US, Mexico and Canada trade agreement means for.

JP Morgan Bank Chase Wells Fargo Wells Fargo Allison Williams Bloomberg America bob CitiGroup analyst Alison John Tucker IPO Morgan Citi Canada Mexico Chase five years
"jp morgan bank america" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:26 min | 2 years ago

"jp morgan bank america" Discussed on Bloomberg Radio New York

"To see what's in line for the outlook so what is the pipeline for fees what are they seeing from clients the other thing we'll be looking at is what's happening in the equity trading business just related to some of the regulatory changes so mifid reforms which really relates to research payments those structural changes have been expected to benefit some of the bigger players in the cash equities business it did seem like we saw some evidence of that in the first quarter and so we'll be looking to see if there's follow through in the second quarter they still the powerhouse in retail so they are a powerhouse in retail i would say that one of the biggest trends in retail banking as you now is digital and what we've seen jp morgan bank america wells and city all four banks has been the payoff of the technology investment that they've been making and i think that's true across their businesses i would not have expected in the stress tests of wealth fargo to come out looking so good is that just in stress tests or does it go forward from here wells fargo and my opinion is clearly the big winner and the stress tests both from a qualitative and quantitative perspective so going into the test they clearly had the most capacity to return capital to shareholders and their ability to make those patents especially with constrained balancesheet growth i think is really key to them improving their return on equity which is a key metric that investors focus on on the qualitative side of things it sort of refreshing to get some some good news on the regulatory front related to laos fargo as you know they've been under scrutiny sort of intensifying ever since september two thousand sixteen when they first announce a fine for sales misconduct that's made me wonder do they have to worry more than any of the other institutions about litigation and regulatory costs well the key risks for wells fargo versus it's us pairs related to regulation and let really relates to the department of justice residential mortgage backed securities issues so all of the other five big us peers have settled these issues and wells fargo is really the one remaining we have seen them take charges related to this issue late last year some of the recent settlements that have come in from the european peers sort of under this new administration have been less than feared and so perhaps that bodes well for wells fargo but i think to the extent that they can get that behind them that will be an important step let me take a step back in s you a broader question as it relates to the banks that are really concerned about trading results what's the impact of the yield curve going forward the yield curve impacts the banks i guess in a few different ways that the trading results i think that is sort of where the yield curve most immediately feeds into some of the results and say you do see some of the more immediate impact at companies like jp morgan bank of america and citigroup that have relatively larger trading operations from the core net interest margin standpoint curve does take a little bit of time to to work its way through the portfolio and in this period when we've been coming out of a period of extended very low rates it's really been.

"jp morgan bank america" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

04:00 min | 2 years ago

"jp morgan bank america" Discussed on Bloomberg Radio New York

"Jp morgan bank america wells and today all four banks has been the payoff of the technology investment that they've been making and i think that's true across their businesses i would not have expected in the stress tests of well fargo to come out looking so good is that just in stress tests or does it go forward from here wells fargo in my opinion is clearly the big winner and the stress tests both from qualitative and quantitative perspective so going into the test they clearly had the most capacity to return capital to shareholders and their ability to make those patents especially with constrained balance sheet growth i think is really key to them improving their return on equity which is a key metric that investors focus on on the qualitative side of things it sort of refreshing to get some some good news on the regulatory front related to laos fargo as you know they've been under scrutiny sort of intensifying ever since september two thousand sixteen when they first announced a fine for sales misconduct that's made me wonder do they have to worry more than any of the other institutions about litigation and regulatory costs well the key risk for wells fargo versus it's us peers related to regulation and let a gatien really relates to the department of justice residential mortgage backed securities issues so all of the other five big us peers have settled these issues and wells fargo is really the one remaining we have seen them take charges related to this issue late last year some of the recent settlements that have come in from the european peer sort of under this new administration have been less than feared and so perhaps that bodes well for wells fargo but i think to the extent that they can get that behind them that will be an important step let me take a step back in s you a broader question as it relates to the banks that are really concerned about trading results what's the impact of the yield curve going forward the yield curve impacts the banks i guess in a few different ways that the trading results i think that is sort of where the yield curve most immediately feeds into some of the results and say you do see some of the more immediate impact at companies like jp morgan bank of america and citigroup that have relatively larger trading operations from the core net interest margin standpoint the flatter yield curve does take a little bit of time to to work its way through the portfolio and in this period when we've been coming out of a period of extended very low rates it's really been the level of short term rates that is more important to the banks in terms of their overall profitability so the lift that we've gone from your rate has more important than any flattening that we've gotten from the yield curve however going forward i think that that will increasingly become a focus the other part of the equation four net interest income growth is loan growth and so i think some of the concerns around the yield curve have been muted by the fact that you know some of these banks might get better loan growth than the mix of their portfolio will improve which can help support the margin loan growth the outlook was very optimistic coming into this quarter it sort of has petered out a little bit in some areas and so i think that is something that again investors are going to be focusing on what are the opportunities there and could there be an interactive risks to the us economy from some of the global macro eventually leading into risks to the yield curve via pressing down on that long term side of things and any impacts along growth when you look overall at the banking industry the fundamentals are still improving all the time the fundamentals are solid economy is good for banks and strong banks are good for the economy allison williams thank you very much for.

Jp morgan bank america
"jp morgan bank america" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:37 min | 2 years ago

"jp morgan bank america" Discussed on Bloomberg Radio New York

"Directly but why is there new york operation so distinct and troubled would you guess from their european operation it's a it's a really interesting question because as unite both now since we've been around a bit the banking industry in the united states in remember the deutsche business was the old bankers trust if you recall in alex brown was in there right that's right that's right and so i think what we have discovered with our american banking system is that many of our banks still have legacy systems and they used patches to kinda of put everything together rather than overhauling the systems because it's very expensive and we've seen this would city you might recall in two thousand fourteen they had a similar failure to what deutscher had yesterday with yesterday she car news and it takes manpower and money to fix and i would say that they don't you it's been distracted with the issues as we all know there have been running into over in europe and they just haven't spent the time in money that they need to which they will you know to correct the situation let's go through the numbers for the us lenders some big numbers jp morgan bank america wells fargo citigroup does fall thanks the nation's largest four lenders one hundred and ten billion dollars get distributed and stop by backs was one ten what you were looking for from those four banks jared they all were better than expected bankamerica i guess we could say in line with expectations but city group in jp morgan we're certainly in better than expected but the real standout was wells fargo wells fargo's number was much better than expected and as you summed up those big numbers and the reflection of the strength of the system and when you wrap it all up together when you include goldman sachs and morgan stanley is that way the disappointment comes from jared those two lenders that's correct and i would throw in their state street as well which is citibank's those are the free that we're disappointing is fair to say or less filling because we got to remember there's still giving back billions of dollars but just not as much as we all would like jared has a sector just in tallahassee into this it was pretty rough going over the quarter and into the back end of it thirteen day losing streak coming into the stress test results for a sector as a whole what are your thoughts on the distribution for dividends and buybacks and to what extent as this in the price of somebody's somebody's lenders not not after what you just described it infringed it out the prior thirteen days or very challenging for this group and what's interesting is if you go back the past five years there's some seasonality has developed at the bank stocks where the first six months of the year they don't perform as well as doing the second six months here now granted two thousand sixteen is an outlier do the election but even still the other years we better performance and i think it has a lot to do with what we're talking about the car and we're going to see that very shortly who's winning the consumer war i'm i believe is j p morgan but you're way way better at this at any of us gerard who's winning the consumer battle to get market share of the american consumer in banking we're certainly seeing it with the bigger banks tom and i think you've identified j p morgan very accurately i'd also say bank america is also having success is going to be interesting to see what the national digital banking strategy of citigroup does and to see if they can gain some ground their bank of america folks i is a san francisco bank with a wonderful history the italian americans in san francisco years ago and then gerard i was like thirty or forty mergers where you couldn't even keep it together with scotch taping glow i mean it was a mess merger for awhile wasn't it it certainly was tom and you know you might recall the the.

new york six months ten billion dollars thirteen days thirteen day five years
"jp morgan bank america" Discussed on BizTalk Radio

BizTalk Radio

05:03 min | 2 years ago

"jp morgan bank america" Discussed on BizTalk Radio

"Food drug beverage tobacco household products though little bit better recently they're in a little counter trend rally right now that said overall bearish helping a little bit over the last few days but still overall bearish housingrelated what do i mean by that mascow sherwin williams worrell poll stanley black and decker not acting well at all semiconductorequipment stocks lam research applied materials m k s instruments taiwan semiconductor teradyne but other semiconductors acting well but that's one area that is not in the semis the fence stocks lockheed martin north grummin raytheon huntington in gals general dynamics all bearish he noticed what i'm doing here by the way when i do my scans my scans have no bias zero bias to them when i do my scans i don't look at names i look at pictures then i look at names now i must tell you dang the airlines not at the transports american delta less so south west jetblue alaska air allegiant spirit air united not bad but most of the airline's bearish but i'm not done parker hannifin symbol ph illinois tool works symbol it w by the way you know what those two are they are machinery i can go through a whole host of other machinery stocks but machinery stocks all right bearish chemicals bearish a bunch of insurance allstate prudential travelers in the dow berkshire hathaway barish and what i see bearish is bearish and yet they can bounce every now and then but they just overall bearish and then there's the j p morgan which i'm gonna talk about in the second bank america morgan stanley goldman sachs pnc bank you get my point nine we'll say jp morgan bank america today held the two hundred day moving average that's how weak they've been so the bearish but down at very important support and they've held it every time but still not of help to the market.

sherwin williams general dynamics jp morgan bank america stanley black decker lam research taiwan semiconductor alaska parker hannifin dow berkshire hathaway goldman sachs two hundred day
"jp morgan bank america" Discussed on KDOW

KDOW

02:30 min | 2 years ago

"jp morgan bank america" Discussed on KDOW

"The economy is solid economy is great you have the chair of the fed saying this this says to me rates are going up but for the right reasons could we have the fed ratifying things are getting better how can that not sure the market up it's not the truth that's why welcome phil's gang the country out to all street radio network this is he's not telling the truth the market interest rates are going up for the wrong reason and are going up at the wrong time we're being told this rates arising due to a booming economy but that's not the case if the economy was booming then why isn't our economic gdp grow at three percent we're still not there we haven't been there since two thousand five we've been stagnant so what are they talking about auto production gesture production falling off a cliff also thinks you're so good economy booming we have so much cash treasury why are we reducing our deficits because it's all i it's creating an illusion it's unbelievable never seen anything like it after the two thousand eight stock market crashed we were promised if we build out the five largest banks remember it is the banks the drive the stock market up and remember ever since they raised rates the other day the bank stocks have been falling like a flying crowbar the stock market is down one hundred points ever since they raise rates why aren't the bank stocks soaring because remember when interest goes up anxious supposed to be making more money more profits more earnings then why is it when they raise ratio the day the market started to fall apart starting to collapse banks the five largest banks jp morgan bank america was fargo citi ubs they're they're the problem these banks are a problem remember they used to control ten percent of our industries assets with seven hundred billion.

fed phil jp morgan bank america citi three percent ten percent
"jp morgan bank america" Discussed on BizTalk Radio

BizTalk Radio

05:43 min | 2 years ago

"jp morgan bank america" Discussed on BizTalk Radio

"Steal t s big top in place tongo others but making a good point solar have topped out so you'll have to believe me and that has to do with subsidies less of a we call them the big telecom verizon at and t they've been dead anyhow they haven't helped of course the food drug beverage tobacco household products though little bit better recently they're in a little counter trend rally right now that said overall bearish helping a little bit over the last few days but still overall bearish housingrelated what do i mean by that mascow one sherwin williams worrell poll stanley black and decker not acting well at all semiconductorequipment stocks lam research applied materials m k s instruments taiwan semiconductor teradyne what other semiconductors are acting well but that's one area that is not in the semis the fence stocks lockheed martin northward grummin raytheon huntington in gals general dynamics all bearish he noticed what i'm doing here by the way when i do my scans my scans have no bias zero bias to them when i do my scans i don't look at names i look at pictures then i look at names now i must tell you dang the airlines not at the transports american delta less so south west jetblue alaska air allegiance spirit air united not bad but most of the airline's bearish but i'm not done parker hannifin simple ph illinois chore symbol it w by the way you know what those two are they are machinery i can go through a whole host of other machinery stocks but machinery stocks all right bearish chemicals bearish a bunch of insurance allstate prudential travelers in the dow berkshire hathaway barish and what i say bearish which is bearish and yet they can bounce every now and then but they just overall bearish and then there's the j p morgan which i'm gonna talk about in a second bankamerica morgan stanley goldman sachs pnc bank you get my point nine we'll say jp morgan bank america today held the two hundred day moving average that's how weak they've been so they're bearish but down at very important support and they've held it every time but still not of help to the market.

verizon sherwin williams general dynamics jp morgan bank america stanley black decker lam research taiwan semiconductor alaska parker hannifin dow berkshire hathaway morgan stanley goldman sachs two hundred day
"jp morgan bank america" Discussed on BizTalk Radio

BizTalk Radio

04:22 min | 2 years ago

"jp morgan bank america" Discussed on BizTalk Radio

"Stanley black and decker not acting well at all semiconductorequipment stocks lam research applied materials m k s instruments taiwan semiconductor teradyne but other semiconductors are acting well but that's one area that is not in the semis the fence stocks lockheed martin northward grummin raytheon huntington in gals general dynamics all bearish he noticed what i'm doing here by the way when i do my scams my scans have no bias zero bias to them when i do my scans i don't look at names i look at pictures then i look at names now i must tell you dang the airlines not the transports american delta less so south west jet blue alaska air allegiant spirit air united not bad but most of the airline's bearish but i'm not done parker hannifin simple ph illinois chore cts symbol it w by the way you know what those two are they are machinery i can go through a whole host of other machinery stocks but machinery stocks all right bearish chemicals bearish a bunch of insurance allstate prudential travelers in the dow berkshire hathaway barish and when i say bearish which is bearish and yet they can bounce every now and then but they just overall bearish and then there's the j p morgan which i'm gonna talk about in the second bankamerica morgan stanley goldman sachs pnc bank you get my point now i will say jp morgan bank america today held the two hundred day moving average that's how weak they've been so the bearish but down at very important support and they've held it every time but still not of help to the market.

general dynamics dow berkshire hathaway jp morgan bank america Stanley black decker lam research taiwan semiconductor alaska parker hannifin morgan stanley goldman sachs two hundred day
"jp morgan bank america" Discussed on KBNP AM 1410

KBNP AM 1410

03:25 min | 2 years ago

"jp morgan bank america" Discussed on KBNP AM 1410

"Of investor's edge with gary kaltbaum not deviate we're going higher how much i don't know but you already have new highs in the russell nasdaq and nasdaq one hundred and you know how important boeing has been to the dow and that's on the verge of moving into new high grounds as stated also very good move in the financial sierra nets we import top day if you ask me go look black rock just really tracing out a big base now jp morgan bank america turning the corner the regionals are much stronger than the big banks that i get it more the lack of about worried situated influence to the big banks when it comes to the markets growth wasn't doing so great today but finished pretty decent i will say facebook was down a little bit we are now finding out that mark zuckerberg either just lied on capitol hill were omitted some material information as we are now finding out our data and stuff has gone to chinese companies a couple of them that the us considers various nothing's going to come of it how you know much money facebook gives the politicians you know what the answer is i don't know but i guarantee it's a hell of a lot i guarantee you of these politicians be working for facebook speaker politicians in case you don't know there was surprised last night now pretty smart with these politics if nothing changes of course things could change don't know what's going to the news is gonna next two weeks or three months maybe the market crashes may be the economy goes for funky if all things being equal nothing changes sorry socialist party happen i put my ear to the ground wits seats it definitely not winning the senate you may lose abc's there i don't think you were in the house why i've never seen anything in my life the mantra from high up of the socialist party we're going to raise your taxes donald trump's sucks that's it nothing else i think more i was listening to bernie sanders was it yesterday ripping on business the people screw who would you to.

gary kaltbaum boeing facebook mark zuckerberg us senate abc socialist party russell jp morgan bank america donald trump bernie sanders three months two weeks
"jp morgan bank america" Discussed on KBNP AM 1410

KBNP AM 1410

01:36 min | 3 years ago

"jp morgan bank america" Discussed on KBNP AM 1410

"The elasticity of all these bankers to actually what goes on in your world of bonds and bills notes it matters quite a lot i mean if you look at just fix revenues for example you look at fixed income revenues and clearly things like like how well these banks did in china trade treasury securities matters it's how what's going on in the corporate bond market how many corporate bond deals have come and and what's trading like in in that neck of the woods so all of these things matter and when you get things like more treasury securities which are going to have a lot more of over the next couple of years with trillion dollar deficits coming will that crowd out things like investment greater high yield corporate debt or will mortgage the mortgage market comeback as yields have gone up the number of mortgages being issued as is significantly lower and because of that that's that's another drag sometimes on on earnings for for for you know financial firms with their with their fixed income trading and and an issuance what's becoming clearer ira after key one of the things that we've had from both jp morgan bank america the story of cute one was equity volatility in the story of coupon for these banks so far is equity trading what's being clearer for many market participants is that the equity fall has hasn't spilled over into rights fault and i think a big question for so many people was whether it would or whether the equity would just roll over stay elevated but a historically normalized levels and it looks like the is happening and not the former how do you expect that to actually materialized in the coming weeks and months it's interesting so it really depends on where you're looking at for volatility in the fixed income markets if you look at ten year treasuries we've been in.

china jp morgan bank america trillion dollar ten year
"jp morgan bank america" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:33 min | 3 years ago

"jp morgan bank america" Discussed on Bloomberg Radio New York

"Me here i think is what they're gonna do with their asset management unit you know it's under five hundred billion goldman is in the trillion dollar club for example j p morgan is also up there and asset management it's a real opportunity to drive on feebased income i think they already have done some tuck in acquisitions in real estate but doing something big asset management would be a big deal should i basically this morning her coverage of morgan stanley and helping out today with the bank of america all of this devolves to the rate market price lower rates up what's the the responsiveness ira jersey the elasticity of all these bankers to actually what goes on in your world of bonds and bills notes it matters quite a lot i if you look at just fiqh revenues for example you look at fixing can revenues and clearly things like how well these banks did in china trade treasury securities matters it's how what's going on in the corporate bond market how many corporate bond deals have come and what's trading like in that neck of the woods so all of these things matter and when you get things like more treasury securities which we're going to have a lot more of over the next couple of years with trillion dollar deficits coming will that crowd out things like investment grade or high yield corporate debt or well mortgage the mortgage market comeback as yields have gone up the number of mortgages being issued is is significantly lower and because of that that's that's another drag sometimes on on earnings for for for financial firms with their with their fixed income trading and an issuance most becoming clearer ira after key one and the endings that we've had from jp morgan bank america the story of q one.

goldman morgan stanley bank of america china jp morgan bank america trillion dollar
"jp morgan bank america" Discussed on CNBC's Fast Money

CNBC's Fast Money

01:47 min | 3 years ago

"jp morgan bank america" Discussed on CNBC's Fast Money

"Dhec one thousand tech tech index essentially had growth revenue growth of twenty plus percent year later it was roughly twentyseven stocks now it's seventeen stocks so it's really become much more of a crowded trade and when you get that fear and uncertainty and everything gets pressure pointed you get this sort of this these kind of sell offs again i keep coming back to i think facebook i think what we saw with some of these other companies i think what we saw with the tariffs i think it's all just noise i go back and say the beginning of fed wars when this market started to see increase volatility and it had nothing to do with any things we're talking about now which is something new which i think is saying one hundred zero there's going to something new so bad saw this for boeing no one talks about a trade war knocking these guys know talked about facebook there was regulatory overhang but it wasn't because they were selling down selena way trade war goes away if privacy thing goes away we'll just find another reason to have increased about let me just take the other side of the next week on friday we're gonna have jp morgan bank america wells fargo all reporting earnings if you think back to mid january when this market was really in high gear right after having that tailwind of the tax cuts just a few weeks earlier the bank earnings were something that really gave people some confidence in buying the market there i think at one point january the market was up seven percent we're probably going to see some pretty good q one earnings i suspect you have a lot of these banks you think about capital market activities seasonally strong and q one that sort of thing we've had a lot of volatility we know over the last couple of years that was one thing that really hurt profitability now we have it so to me bank earnings in the next week and a half or so should kind of stabilize the argument these are also pretty cheap stock for the most part people are expecting further capital return the tax cuts helped them so i'm not saying who by the venture here no beaten up looks.

facebook boeing jp morgan bank america seven percent