jp morgan leading it. you also jp morgan coming in in going forward with revenues. we saw a big cap up in jp morgan in terms of what they expect credit losses to be buried how much does that indicate some sort of forward view in terms of caution going forward. >> what we saw from the new york fed expectations from consumers and that worry about availability of credit. and how much the banks pulled back on the heels of those losses starting to rise. ultimately that will be the biggest question. how willing is jp morgan, is the bank of america, citigroup willing to lend in the wake of these higher losses. >> revenue coming in at 2.4 6 billion u.s. dollars for jp morgan. the estimate was 2.13. the commentary, how many times have we heard this over the last few quarters we continue to be vigilant about potential tail risks. >> that's kind of his job is essentially to be vigilant and handle tail risks. the way your successful through cycles is not to get lost in the euphoria on the way up and not to get lost in the sob stories and trauma on the way down which you see is

jp morgan, citigroup and wells kicking off the earnings story.art showing the value of these s&p companies coming through with the earnings kicking off this week with a focus on the banking space. jp morgan, citigroup and wells. there is plenty more coming up. we will continue to scrutinize the french story. stay with us. this is bloomberg. ♪ food isn't just fuel to live. it's fuel to grow. my family relied on public assistance to help provide meals for us. these meals fueled my involvement in theater and the arts as a child, which fostered my love for acting. the feeding america network of food banks helps millions of people put food on the table. when people are fed, futures are nourished. join the movement to end hunger and together we can open endless possibilities for people to thrive. visit feedingamerica.org/actnow >> good morning from london. we are an hour away from the opening trade. the euro and french bond futures under pressure after a leftist alliance seizes a shock victory in france's election.

answer is jp morgan wealth management? >> and growing old as part of the journey, even when you have heart failure but when he had shortness of breath, carpel tunnel syndrome and lower back pain. we wondered, could these be warning sign of something bigger? thank goodness we called his currently out because these were signs of at trc a rare and serious disease that gets worse over time. do you see any of the warning signs? don't wait. ask a cardiologist about attr today readings happen yeah. >> that's not good. happened huge things happened happens be there were three, learn more at rnc.com conquer financial reports gaga. 2000 word essays conquer, 300. >> thank you over what you right, with the smooth writing longest lasting gelling pin and america dave, g2 i'm bill weir on the california coast and this is cnn taiwan should pay us for defense. that's what former president donald trump told bloomberg presumably worrying leaders in taipei as beijing continues to rattle its sabers near the self-governing island, just two mont

jp morgan profits up, an accounting gain from a share exchange deal with visa. says inflation and a interest rates may stay higher than the market expects. wells fargo is the story of the morning along with bank of new york, bank of new york is up 2 and-a-half percent. wells fargo is down 5 and a quarter percent right now, profits down as the lender shelled out more money to hold onto deposits on intense competition for customer money. we'll hear if citigroup at 8:00 a.m. eastern this morning. how would you assess bank earnings so far. >> it's strange to have a double beat on both companies and have them trend to the down side. that means there's underlying guidance that's negative or some kind of number people weren't expecting. with jp we can see the 8 billion visa revenue may be a down side because we were expecting 45. we got 50. that's with an $8 billion accounting entry. as far as wells fargo go and jp morgan, all of their acquisitions, they really raised operational costs and obviously with higher cost of capital, that's more difficult to deal with. but i

provisions that jp morgan growth. wells fargo reported charge-offs due to commercial real estate charge-offs. what is your read on credit quality given where we stand in the economy? betsy: i'm not watching any individual bank that closely. it is hard for me to say. i think the credit quality generally is pretty good. i don't really worry about the drag office markets will have on bank earnings. the loans for offices, while they are out there, they are not you -- not huge parts of any of the portfolios anyway. scarlet: let's talk about one of your other hats, a former fed governor. talking about inflation. yesterday's cool cpi data sparked a massive rally in small caps. yesterday, a drop in inflation expectations. chair powell told congress fed officials need to gain more confidence before cutting. did these data points provide that confidence? betsy: it will take a few more. certainly every good data point provides a bit more confidence. if you look at the confidence or the uncertainty in their last projections, at l

andrew tyler of jp morgan chase said although he does see legs, investors are going to turn their attention back to fundamentals. the magnificent 7 companies are expected to report earnings growth of 29% year-to-year in the second quarter. and even though that is stalling from previous quarters, that is still an incredible showout from noise companies. so that could rekindle enthusiasm for the big tech companies. sonali: how fragile are these companies to myses? >> incredibly fragile. we've seen companies beating expectations over and over again in recent quarters. so that makes the bar higher this time around especially for those magnificent 7 names. sonali: jess, you're saying for even that rotation trade which should have been a conviction trade, right? jess: that's right. sonali: you're betting on companies that have not been doing well on this rally. what is with it that people need to see? because the bond market is betting pretty firmly on that september cut. jess: we have the big tech coming and the same week as the fed decision. we still have another month to go before we hear from

jp morgan, citi, and wells fargo kicking off today.ocusing on investment banking and the rebound in loan profit. let's bring in charlie wells for the set up. i love the fact that we have been obsessing about net interest margins, but we do not care anymore. it is all about investment banking, because there are signs that they're coming back. >> it is looking like we will enter an new era. we have the cpi number talking about the potential september rate cut, and that is been a positive mood -- momentum story for these red stocks. we are already seeing tales happening, which translates to fees for investment banks, so that is a big one. tom: that is part of the boost in terms of the story. i was speaking to a bank president yesterday and he was saying he is starting to see the turnaround, so that sounded positive. one of the potential burdens for these banks? >> some analysts are talking about how they are concerned with the consumer. there was a lot of pressure. we are seeing signs of potential increase credit card delinquencies, so th

we get another release this week to jp morgan finds the s&p 500 is poised to move .9% in either way. how important is this for the bond market? how much potential for volatility is there? liz: i think it is very important because this more data chairman powell wants to see front and center is cpi. inflation as he said last week, we are seeing disinflation come but they want to see more. if somehow this is a surprise stronger than expected cpi, i think in the bond market is not going to like that. like jp morgan, i would not argue with them in saying you're going to see a lot of volatility in stocks. i can't see you are not going to see it in bonds as well. we are going to go from data to date appeared you're going to see these big moves. if things are way below or way above expectations. it is going to be a big deal for markets. we will be busy. katie: there are three more cpi prints before the september meeting so a lot to look forward to. our thanks to mike mckee and liz mccormick. this is bloomberg. ♪ (♪♪) (♪♪) sandals rhythm and blues caribbean sale is now on. visit sandals.com o

we are seeing a lot of bond buying by foreign banks in the run-up to the jp morgan index.ng this, and how long will it continue? parul: good morning. india joined the global bond index from j.p. morgan on june 28, and in the run-up to the inclusion in june, we have seen $11 million of investment from foreign investors. apart from this direct investment in indian bonds, there has been almost $6 billion in national bonds. there is an interest from investors. we saw almost $2 billion in the month of june, and we expect this inflow to continue the next 10 months as the index rate rises to its maximum of 10%. we think when if and when the r.b.i. starts raising rates, it might pick up as the capital gains look just around the corner. we are very optimistic on that as well. paul: when you think the r.b.i. will be in position to begin easing? parul: we think they have the room to cut rates, so if we look at what is trending around or .5%, there is a strong confidence that for the full year, cpi for india will average 4.5%. core inflation has been trending below 4%, which is a stro

jordan jackson of jp morgan investments as the s&p 500 at another all-time high.r a second trump presidency. the s&p 500 closing above 5500 for the first time after -- first time ever. jp morgan's jordan jackson wright says, the strongest are getting stronger but they are fueled on veggies and compact scarves. investors can diversify into sectors like materials, financials and healthcare which are expected. good morning. it is good to see you. you seem pretty constructive in this equity market. jordan: as i mentioned, the strongest are getting stronger. when you think about the magnificent seven, 39% of r&d spending, 23% of free/flow -- free cash flow. a lot of these companies are also ai hyper scalars. they will spend close to $200 billion in investment. first-quarter earnings of 50%. these are strong businesses. they generate income on their balance sheets they are making so much money that they are buying back shares and issuing dividends. we have never seen this before. i get excited by that side. valuations already headwind that for the rest of the market whe

jp morgan worth less than the average stock? coca-cola was the biggest company in fortune 500. now pepsi is double the revenues of coca-cola. hey, maybe if it made more swift moves or bigger takeovers then it could be worth $1 trillion instead of $223 billion. a shrewd observer recently asked me by email how could exxon with $330 billion in revenues over the last 12 months not be much bigger than nvidia which rang up just $79 billion. nvidia clocks in at $3 trillion. this market values growth much more than it values plain old revenues. and i got to tell you, nvidia has the growth and space and much higher margins. and ford, which i think is breaking out,ed a $177 billion while tesla, considered by many to be a tech stock, not an auto had $95 billion in sales, both in the last 12 months. tesla is worth $800 billion and ford at $51 billion. if ford can come up with an electric car that outsells tesla and replicates that in germany and china? i think ford could be a mega cap too. there is no restriction on that. all the material differences that stepping stones to $1 trillion hav

answer is jp morgan wealth management you were made to find? >> we remain to try to by eu core, help maintain a healthy urinary tract with you, cora, having utis for ten years, you cora, we make uti relief products. we also make proactive urinary tract health products. you it is a life they tried today at your core.com that political world is about to descend on the land of cheese curds. republicans kicked off their national convention on monday in milwaukee, but it's the small swing districts in that crucial state of wisconsin that could determine who will win in november cnn's john king visited one of those communities to see how voters are feeling after the debate. it's part of john's all over the map series cedarburg, wisconsin, 4 july. >> city's legendary parade runs two hours that's the middle america as it gets any locals call cedarburg a living hallmark movie picture asked polite genus olinto was parade grand marshal this year. in carries to keep it civil theme over to her growing pickleball studio it just really is a place for people t

jp morgan, wells fargo and citigroup all reported on friday and there is more to come this week.dman goldman sachs will release their second—quarter earnings on monday — with revenues forecast to rise over 15% year—on—year. on tuesday — we'll hear from bank of america. first first quarter profits fell 18% due to rising expenses caused by high rates. also on tuesday — investment banking giant morgan stanley will release their financial report card — with revenues expected to rise. for a closer look at the us banking sector, — let's speak with cyrus darawala from idc financial insights. thank you forjoining me today. let's get your take on what to expect from the latest earnings from us banks when they are released. from us banks when they are released-— released. sure. good to be back. released. sure. good to be back- the _ released. sure. good to be back. the majority - released. sure. good to be back. the majority of - released. sure. good to be l back. the majority of reports so far have been lackluster, and reason for that, though the banks have posted slightly better than exp

and even jp morgan's steady guns failed to impress the market. plenty more ahead.berg. ♪ paul: he will be attending a bitcoin conference in nashville. we will wait and see whether that event happens or not. bitcoin rising above 60,000. fierce chance for mark -- first chance for markets in the u.s. to react to the dramatic events over the weekend. horizons: middle east and africa is up next. this is bloomberg. ♪ ♪

>> i think jp morgan is the standard bearer here. expect the capital market side to be strong and equity underwriting. we had almost a record quarter in the first quarter. m&a deal flow is bouncing back. looking for a 25% increase in investment banking. they are in the sweet spot here. citi is also a buy, but going through some still restructuring. i think they have more room to run, but we'll look to hear more about that. >> stephen, we have to leave the conversation there. thank you. always great to see you. thank you. be sure to catch wells fargo cfo on "mad money" and citi's cfo coming up today as well. >>> coming up, new downgrade out for tesla this morning. we're back right after this break. (office chatter) is it me...or is work not working? at least, not the way it could work. your people are buried in busy work. and you might be thinking... can ai make it all work? can ai help your people work... without all the workarounds? feel better. make customer service work the way customers expect? that one. make your old tech work w

stuart: big e inwinner is caterpillar, jp morgan, apple and express. play believe it or not and trump is big and going on the end of this month and back to 63,000 this morning. a solid gain for ethereum as well. right now p protesters in milwaukee and did the assassination acement change plans at all? assassination attempt change plans at all? reporter: sure didn't, stu. bind me there's a few hundred protesters with coalition of more than 120 activist groups here for press going to have about an hour's time and going to march and i'm going to take you for a walk through and you should see the groups that are pro palestinian protesters and women's productive rights and pro immigrant rights and lgbtq and really everybody made up and you see signs like this one over here and lock him up. a very direct message to president trump and this group tells me, stu, they're not just making a stop in milwaukee and they'll go to chicago as well and you're seeing some signs like this and go no fascist tram and no genocide joe and we asked flores the cochair of the ma

jp morgan says the i.t. earnings season in india has been better than expected.will discuss the outlook for the sector, next. this is bloomberg. ♪ paul: welcome back to bloomberg markets: asia. you are watching the india focus. here's a look at indian markets, a flat to mostly positive day when we get going. the sensex premarket better by a few points. we did have trade data out of india for the month of june late yesterday. the trade deficit narrowing just shy of $21 billion. coal and gold imports contracting, exports picked up. pharmaceuticals picking up as well. that contributed to the india trade gap narrowing in june. plenty of stocks to watch this week as well. we had hcl, tcs tech toward the end of last week. we are waiting for infosys as well and a couple more big i.t. companies. supply chain solutions as well. looks like another moderately positive read from those companies as well. apple supplies meanwhile making gains in asia after the tech giant hit a fresh record high on wall street. bloomberg obtained exclusive sales figures for iphones and other pr

schweta: you mentioned the inclusion on the jp morgan bond index.expecting $30 billion to come in because of that inclusion. we have already seen once the news is out, there have been around $12 billion coming in the market. that is not just pushing down the bond yields but giving a favorable equity market valuation, giving some comfort to the rupee, that is definitely a positive and will have a multi-effect on various asset classes. it could mean rbi looking at rate cuts, whenever that happens, yield is getting pushed down and equity markets rising as the fund flows coming in. paul: we have seen good traction with large-cap stocks. is that where you are seeing money rotating now or is this small investor passion for small and mid-cap stocks likely to continue? schweta: there is actually money flowing in all three segments of large, mid, small but in terms of proportion more money is coming to large-cap. looking at market capitalizations, large-cap is slightly more valuable compared to the other two. if i look at the money in the form of sip's, whic

jp morgan says covid vaccine demand will ultimately be fractional compared to that of the flu.stors are pouring out shares of spirit's maker at this hour. the stock falling to four-year low after the maker of johnmy walker whiskey, casa migos tequila and others. the business is specifically struggling in mexico and brazil. they're not drinking there as much there apparently. sales falling 21% year over year. the stock falling 5%. and proctor & gamble shares and the dow component dragging down the blue chips and lower by 5.25% after the consumer goods giant posted a stinky earnings diaper filled with a surprise drop in third quarter sales and the brands include pampers diapers, charmin toilet paperer and raisers and they call -- razors and they called out weakness in the middle east, south america and china. the first couple quarters of fiscal 2025. this is probably part of this drop in the stock, are expected to be "similar to the quarter just reported". in other words not great. high inflation slamming those proctor & gamble customers which begs the question: are fed chair jer

we get jp morgan and citigroup. i think this will raise the question of their outlook, their visibility into the future. jonathan: i was going to say something serious about the week ahead and then he mentioned delta. it has gotten worse. you have to get a shuttle. it takes 15 minutes to get on a shuttle. lisa: have you seen laguardia? it is beautiful. it is finally a first world airport and that is what jfk wants to get to. it just takes more effort. jonathan: that is the price you have to pay. your coming out of jfk and working the way back to manhattan, traffic is backed up. you can see the roadwork. there is a sign saying this is a consequence of the bipartisan infrastructure at come and you are thinking i'm not sure that is good promotion for washington, d.c.. let's begin with our top story. pressure mountain -- pressure mounting on joe biden to end his reelection bid. several top democratic lawmakers are joining the calls for biden to step out of the race. five house democrats of gone public. terry haines writ

morgan chase and company. she has held a variety of roles at jp morgan chase. mark, head of global payment solutions and bank of america. letters' a member of the bank of americaa management committee ad serves on the boardth of direct. adam is the executive vice president and head of payments more consumer and small business at wells fargo. he spent 20 years as an executive and severing on the zelle advisory board for early warning services. i will ask all of the witnesses to stand and be sworn. >> you swear the testimony is the truth, the whole truth, and nothing but the truth. >> witnesses answered in the affirmative and we will be using our standard timing system and all of your written testimony in it's entirety. you ask that you try to limit it to 5 minutes. >> chairman, ranking member of the subcommittee for the opportunity testify today regarding the zelle network. ceo of early warning services. more more than 3 decades the u.s. financial system is cutting-edge fraud and prevention and payment solutions. businesses as well as the u.s. government to prot

the big banks is the kickoff with jp morgan chase, wells fargo and citigroup.l street journal writes this that s&p 500 companies are expected to report the biggest quarterly profit jump since early 2022 as earnings will test investor faith in big technology stocks. does that ring true with you, jamie? >> well, cheryl, good morning. it's no doubt that everybody's paying attention to the magnificent seven but they're completely ignoring the rest of the market and profit growth in other sectors are just as strong as communication services. healthcare, you look at fact set they say you'll see earnings gloat growth at 18%, healthcare, 17, is right behind it. we've seen analogies being drawn to the '90s with the tech runup. one of the things people have foregotten, there was another sector that did very, very well in the '90s and that was health care and the same is true now except we've got run-away stock prices in technology and people ignoring and see the healthcare sector underper and i think that's going to change. what you're going to see israel location, rebal

jp morgan, some staffers unable to log on.e to process certain traits across many funds across the world. hong kong, south africa, singapore. you have seen issues with trading desks and with employees able to logon. some people had to go home and hong kong, certainly in london. one big deal is the lse group, the parent of the london stock exchange reported issues with preventing news from getting published. the rns new service important here. 350,000 announcements a year. 70% of all price-sensitive news. think dealmaking. if you're announcing a deal, this would have been a massive problem for you. not to mission the commute issues. if you're just trying to get to work in london, hong kong, new york, the systems are online but getting information about that might be difficult. if you're off on a business trip, forget about it. if you're not flying private you might be stuck in the airport right now. dani: presumably a lot of banking executives do that. there has not been reporting on citi having issues. citi has been hit with i

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. >> let's dog ratings from jp morgan analysts in the chase app, when you've got a decision to make thewer is jp morgan wealth management did operate this didn't i get where i'm at his memory and thinking issues keep piling up. it may be due 0-0, coventry direct redefining insurance i'm worried fox on capitol hill some good news today. for millions of americans are feeling financially for the first time since the pandemic prices fell in june and failed inflation cooling now for a third straight month, let's take a look at how the stock market is responding. the dow up roughly 34 points nasdaq and s&p slightly down today's report is boosting hopes that the fed will cut interest rates. let's get the latest from cnn's matt egan matt break down these new numbers and what it could mean in for consumers well, boris and jessica, this really looks like the best inflation report in literally years. of course, inflation has been the number one problem in this economy. and this is the clearest evidence yet that inflation is going back to normal, not there yet, but a big step in the right direction

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>> well, jp morgan held a call and the market bond index and got added on friday.ense from the call is that most funds are kind of "v" a mix of presence to indian assets in terms of either onshore presence or to offshore instruments like your supernational bonds. what seems to be the takeaways as the main index includes and 1% every month. by the time they reach 4 to 5%. most of the are bonds will be directly buying bonds. paul: few days into the bonding. what have we seen? >> all of june, two billion coming in. and carved out specifically for foreign investors and the market was expecting a bit of trump up in the last two days with some expectations of one billion dollars and in terms of two days. clearly, that seems to suggest that investors have already taken their positions. paul: according to india's infrastructure and 1 trillion planned by 2025. the government's infrastructure program requires injections of capital and our next guest has more than 15 years investing india companies. and bring in -- him in. and give us a sense of how much infrastructure invest

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staff, following rivals goldman sachs and jp morgan.bandoned eu rules limiting bonuses to twice basic salary late last year. the eu brought in the cap to discourage excessive risk taking but critics argue it simply made banks pay bigger basic salaries. there is always a way around it. to discuss the costs and benefits of bumper bonuses, i'm joined by geraint anderson, ex—stockbroker and author of cityboy: beer and loathing in the square mile. lovely to see you again. what do you think, it is a good thing or a bad thing that bonuses are back? i thing or a bad thing that bonuses are back? i think it is a bad thing- — bonuses are back? i think it is a bad thing. i— bonuses are back? i think it is a bad thing. i think _ bonuses are back? i think it is a bad thing. i think it - bonuses are back? i think it is a bad thing. i think it is i bonuses are back? i think it is a bad thing. i think it is a i a bad thing. i think it is a return to the old days when dinosaurs like me were bankers, a time described by gordon brown as the age of irrespon

so this firm got a market valuation of 320 billion usd, which is which was bigger than jp morgan. the biggest bank in the world at that time. and that really worries china's financial regulator. wait a minute this firm was just spinoff alibaba five years ago and now is bigger than jp morgan right. so what happened was that and in order to get the higher valuation changes name from ant financial to anglo because as a financial you can't get very high valuation, but you can get four times as much valuation if you are identify as tech so and says i am not a fintech company, i'm a tap fin business. okay, so as a result it a really high market valuations and that's worries the regulator of not just moral has a problem but you have a big bubble the making and this thing is going to systematic risk to the china's financial stability. so i think this is what's happening. but jack ma speech really spoke to financial regulators. it directly challenged that for and what change at this point is that there is no longer information the symmetry between the regulators and the top leaders. i mean

melissa managing director head of commerce enabling at jp morgan chase & company. she has held a variety of rolls in 20 years at j.p. morgan chase. markj. monico global payment solutions bank of america as a member bank america management committee serves on the early warning services of board of directors. and adam is executive vice president head of payments for consumer and small business banking at wellsls fargo. twenty years of wells fargo. currently serves on the cell advisorytl board of early warnig services. as is our custom i'm going to ask all the witnesses to please stand. and to be sworn. works loops where the testimony about give us a truth, the whole truth and nothing but the truth? to help you god. >> thankhe you. >> the record will reflect the witnesses answered in the affirmative. we will be using our standard timing system today. all of your written testament we printed in the record in its entirety. or try to limit your oral testimony to five minutes. mr. fowler. bergstrom blumenthal, rankingir member johnson members of the subcommittee thank you

morgan emerging markets bond index.re any implications for that? we also haven't heard from j.p. morgan. do you think this will affect india's reputation as a destination for foreign investment? neeraj: i don't think it changes anything. as far as the index is concerned, the full universe was not included. securities were included. personally i don't think so. paul: we have noticed also a line to that. inflows into equities have been a weak spot. we saw another 24 billion rupees worth of indian stocks sold off yesterday. when do you see that trend reversing? neeraj: it's a bit of a blow -- the outflows were strong in 2021 and 2022. we have seen weakness since 2023. as the elections are behind us, we now have a stable government. we are seeing continuity. strong job creation in manufacturing. i think it's only a matter of time before we start seeing the flows into the country start picking up. very mind, a large part of the flows into the country were on account of the investments by -- they were pretty active in the ind

jp morgan boosting that price target.i assets with a rapid painful you bring a lot back to civilian life. leadership skills. technical ability. and a drive to serve in new ways. syracuse university's d'aniello institute for veterans and military families has empowered more than 200,000 veterans to serve their communities and their careers. from professional certifications, to job training, to help navigating programs and services, we give veterans access to support from anywhere in the world. haidi: china markets are headed to the lunch break. let's get over to avril hong in singapore. >> two main drivers of sentiment in the markets. cpi number out of china lower than expected. and china banca warning of deeper losses in the second half, slumps in the housing market. observers do not see much stimulus coming on the third [indiscernible] focus of the pboc and in the wake of the cpi the team met bloomberg intelligence expects the pboc to cut the one year rate in september by september because that is when the fed is expecte

the bank says it continues to pay competitively and reward strong performance as a joins jp morgan andplement the new pay structures. baking pay -- big tech companies are looking towards nuclear energy to power the data centers needed to support ai. amazon is moving towards a deal with constellation energy which is the u.s.'s largest owner of nuclear power plant's. the deal would support aws. amazon also purchased a nuclear data center in pennsylvania. the numbers keep coming in strong for pixar's inside out ii. it has pulled in nearly $470 million in north america in well over $500 million in a nationally. that pushes its total globally to -- a new record for an animated film. jonathan: those pictures actually made bramo smile. did you watch this movie? lisa: there was an article about how barbie in inside out ii have disk it have different messages, barbie says it is the outside world grading problems and inside out ii says it is your own world. jonathan: therapy for adults. lisa: post-pandemic everyone is anxious so they made anxiety the main character. jonathan: and the barbie camp

here's the lineup, thomas kennedy of jp morgan, geoff yu.ill talking about the fx market going into tomorrow. dani: it is hard to have conviction because you can get slapped by politics or economics. it is a lot of back-and-forth. for now, it is the only thing that is certain is some form of a rotation is happening. jonathan: the rotation the last week.we are down 1% on the s&p 500. from new york city this morning, good morning.thank you for tuning in. this was "bloomberg surveillance." ♪ (jennifer) the reason why golo customers have such long term success is because we focus on real foods in the right balance so you get the results you want. when i tell people how easy it was for me to lose weight on golo, they don't believe me. they don't believe i can eat real food and lose this much weight. the release supplement makes losing weight easy. release sets you up for successful weight loss because it supports your blood sugar levels between meals so you aren't hungry or fatigued. after i started taking release, the weight just started falling

jp morgan have put out reports saying they expect a 15 basis point rate hike.t's becoming a bit of a consensus view. and we have not seen any major -- which was unusual. we saw a media report saying -- trying to dull things down. this time, we are not seeing that. we have two days to go. it looks as though people have generally got it right or the view that the bank of japan will do something is definitely on the table. how much they are going to do is the big question for markets. >> what are you watching out for you in terms of the language in the statement? >> let's say that -- i would expect they will do a small interest rate hike of 10 or 15 basis points but they will need to show that to traders within the context that this is a continuous move away from unconventional policy, so having zero or negative rates for a long period of time didn't really do much for the japanese economy. it was seen by many as not being a textbook policy. the leader seems keen to get rid of it so he has already moved interest rates once but there's already more to go. bloomberg

morgan, wells fargo and citigroup all reported on friday and there is more to come this week.

india also just recently joined the jp morgan emerging-market international bond index.fore it's important to keep a wider set of bond investors happy. we will see that from a fiscal discipline point of view. the markets are also watching to see if there is likely to be any impactful change when it comes to income tax and capital gains tax. income tax so as it improves the spending power across middle-class india. that is a long-standing demand ahead of every budget, but more portly capital gains tax. this is something the government has flagged in previous days on equal position of capital gains across asset classes. they have preferred in the past not to tackle with it but the market will be watching if there are any indications of changes. paul: please do stay with us, we are joined now by india's -- one of india's leading steel companies, hoping the government will continue massive capital expenditure with a focus on infrastructure development. let's talk about this some more with jayant acharya, md and ceo at jsw steel. mennecke doshi still with us in mumbai. it is

jp morgan's chief global market strategist marco clown of edge is leaving after 19 years at the bank.tained by bloomberg says he's leaving to explore other opportunities. he had a disastrous two-year stretch of calls on the u.s. stock market, staying bullish as the s&p 500 tumbled in 2022 and then turning bearish as the market bottomed and rebounded. so the bear is departing. gandalf leads -- leaves the party. we were talking about how the politics has been spilling over into wall street. similar story here in europe. the french elections could potentially weigh on the french bond auction at 10:00 a.m.. the oats auction and you have officials across praying for solid demand. you have seen investors hopefully taking confidence from the the moment i met him i knew he was my soulmate. "soulmates." soulmate! [giggles] why do you need me? [laughs sarcastically] but then we switched to t-mobile 5g home internet. and now his attention is spent elsewhere. but i'm thinking of her the whole time. that's so much worse. why is that thing in bed with you? this is where it gets the best signal from

we had some jp morgan. this morning, it is the return of goldman sachs.'s sonali basak. sonali: beat almost every business line here, but something interest income even with a beat on revenue, returns on equity, efficiency a little higher than expected. what does this mean? it means goldman is ready to pay again, essentially unchanged from the first quarter of this year, but you do see them worried on compensation a little higher as they bring in more revenue, you have trading beating expectations on fixed income by a landslide and equity training -- training as well not only beating expectations but coming in over where jp morgan came in just last week, as well as over where morgan stanley is expected to come in tomorrow. a big chance goldman becomes a top player in equities trading once again, driven higher by derivatives as well as finances, additional clients, hedge funds. you also have david solomon explaining this environment as improving but complex. we are seeing volatility become goldman spent once again, jon. jonathan: you mentioned morgan stanl

jp morgan's chief global micro strategist arco kolanovic she is leaving after 19 years at the bank.tained by bloomberg's has he is leaving to explore other opportunities. a lot of it had a disastrous two year stretch of paul's on the stock market, staying bullish as the s&p 500 tumbled in 2022, then turning bearish just as the market bottomed and rebounded. coming up, here why investors and strategists are expecting more upside ahead for india's stock market. this is bloomberg. ♪ so this is pickleball? it's basically tennis for babies, but for adults. it should be called wiffle tennis. pickle! yeah, aw! whoo! ♪♪ these guys are intense. we got nothing to worry about. with e*trade from morgan stanley, we're ready for whatever gets served up. dude, you gotta work on your trash talk. i'd rather work on saving for retirement. or college, since you like to get schooled. that's a pretty good burn, right? got him. good game. thanks for coming to our clinic, first one's free. paul: welcome back to "bloomberg markets asia." you're the india focus. there is a look just ahead of the open in abo

and tools like wealth plan to help keep you on track when you're planning for it all, the answer is jp morgan wealth management can you believe this floating a frank thomas took iceland. >> great what's are 40 let me guess, less energy i strive definitely does not your fault. that happens every man testosterone levels drop as you age happen to you guys. >> yeah. >> so what did you do? we got get your complimentary bottle of new genics total t text tries to four to four to four. >> this unique man boosting formula is powered by desner, a key ingredient politically research to help increase testosterone levels. >> that does it i gotta get eugenics just sent the text for complimentary bottle. and by the way do you like it to get york complimentary bottle of new genics. now to tax thrives at four to four to four. >> next now and will include a bottle of new genics thermo x, our newest most powerful full-fat incinerator ever with key ingredients to help you lose fat and get lean absolutely free. >> that's prize for to four to four this is cnn. the world's news network. >> no. >> the hbo ori