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finishing with the federal reserve which ended up injecting money and the bank emergency facilities were set up and used by banks. qt was going on in the u.sd yes, they did, but they were out shattered by the amount of reserves creation. markets have had a bit of a breather as well in the first quarter of the year. this is not a coincidence, the assets that are most sensible -- most sensitive, now we see the reserve bank of new zealand with 50 basis point hikes. this goes to show that central banks might have different opinions going forward and they are not joined at the hip necessarily. the federal reserve drives everything else, but it will be eight credit event that would lead the backstop. dani: so this isn't going to be the broken thing that stops the fed in its tracks, if i'm understanding you correctly. could a credit event then take the form of an issue in the real estate sector? i know this is something everyone is increasingly worried about, commercial real estate specifically. >> there was a survey that showed the highest concern among managers is a systemic credit event. if it's on everyone's radar, it's hard to call it a tail

reserve of the world away from the u.s. dollar. it means your standard of living. it means our money will be worth less on the global stage.ely important. that's one peg that just fell with brazil. brian: you have such a sense of what the rest of the world thinks. when the world sees our former president get indicted, what happens around the world? >> when they see this in their own nations they expect it. there is lots of corruption in russia, pakistan, lots of corruption in iran, china clearly has its moments. when they see this they say they are just like the rest of us. that world talks about that. this is a justice system getting into politics and the politics getting into our justice system. you can hate donald trump with every fiber of your being. but you have to ask the question, is this the right decision for the united states and justice and how we present ourselves to the rest of the world. they had to twist themselves in knots. i would be interested to see them read the indictment. there is something that doesn't seem right bit and the american people are responding. brian: i watched mike pompeo come in 50 poun

u.s. economy because they take money out of the hands of lower income consumers. if i were in the federal reserve'sosition, i would not look at -- oil prices as a reason to get tighter. alix: this brings us to the question of the day, $100 oil? what are the bigger ramifications? ann miletti joins us now. one, do we see it -- $100, do we see it? ann: if we see it, it will be for short time and opec is taking shorter look and they are looking at where demand will come from. we saw the reopening of trade in china and things are better in europe and the u.s. but will demand strengthen from here? i don't think they believe it is. guy: let's put this together to the ism number and david kelley talking about the idea that this will slow the u.s. economy down. you saw -- that is continuing to slow down and picking up the pace. what does that tell you on where we are with cycle and how close we are to the end of the fed hiking rates and what does that mean for investors. ann: we are closer to the end of the cycle and the manufacturing data has been soft and it continues to get softer. everyone looks at the

this is her money and many yachts of the estate, and this is not counting the gold and currency reserves of russia itself in order to use all of it for ukraine minyu the u.s. is now asking congress for the discretionary right to confiscate corrupt assets and sell luxury confiscations at auctions without judicial procedures. we are trying to determine the best use of these funds , we arrested them because this money was used to fuel the war even more, so we want to return it to the ukrainians when it is needed and the first swallow of five and a half million was just intercepted by a special group working in the us treasury , this is money that was tried to hide from american sanctions and belongs to someone close to putin to the people of kostiantyn malofeeva he tried to destabilize eastern europe for many years because he financed private military groups and mercenaries, we intercepted these millions just at the moment when they were trying to transfer them from the accounts. the successful search for these russian assets also suffered, which is good news because justice is being restored to those who spent their money on financing paramilitary groups an

u.s. you mentioned that, softness and the overall index level but the best performing stocks come from financials. the take away, banks are making a lot of money and setting aside money for losses and building reservesut calling it normalization. getting back to pre-pandemic rather than something wrong in the economy. it sounds positive but their numbers are. what is dragging down the dow is boeing, the second worst sector in the s&p. they are pausing in their deliveries, they have to make repairs going back all the way to 2018 and that will cost money. we got the data of data sales u mich that front and two-year yields up higher. gold is down about 50 bucks from a record high. that has been a nice barometer of fear in the market. dani: the market has been a difficult one. we were talking about this before the break. the idea that banks are leading the market today. last month they were dragging the -- the market. the european equity market may be more click i i have a normalized chart of european and u.s. stocks. europe is on the year by 1.6% while u.s. stocks have fallen. there are some clues about the contributing -- contributors to what keeps the european engine running. talking about luxury goo

u.s. government bailed out the banks and the federal reserve did in the fdic did. they did not. they did nothing. what they did is function as bag men. the banks gave the moneyderal reserve, who gave it to the banks that needed assistance. there was no federal reserve money. fdic the did not come up with the money i'm of the banks came up with the money. the banks dropped $440 billion into the federal reserve when this crisis developed, and that money was used to bailout the troubled banks comes of the banking industry is not in terrible condition but right now the banking system is going to be hit with a regulatory wave which is going to change the method of operation which will harm the earnings over the next 12 months. haidi: we will be watching those results. >> always good to talk to you. thank you. plenty more ahead. this is bloomberg. ♪ and it's easier than ever to■ get your projects done right. inside, outside, big or small, angi helps you find the right so for whatever you need done. with angi, you can connect with and see ratings and reviews. just search or scroll to see upf on hundreds of projects. and when you book and pay throug you're covered b

same issue >> this is not jamie dimon covering cash reserves setting up a potentially calamitous situation down the road. $360 billion went into u.s. moneyarkets as people are seeking higher yields. that is separate. >> this is not over? i put it behind me >> i don't think we're out of the woods yet, my friend >> i'll go in the top four bank business >>> coming up, what we learned from disney shareholder meeting about the plans for the film business and streaming services and theme parks. that's next. >>> later, get ready for the friday jobs report the markets closed for good friday holiday i use that in the loosest possible term. we will be here for a special edition of "squawk box." 8:00 8:00 to 9:00 a.m new alarm clock for us march employment report. >> 8:00 to 9:00 every morning? >> on friday don't come here. you will have to go out to the hinterland for you "squawk box" will be right back. you're doing business in an app driven, multi-cloud world. that's why you choose vmware. with flexible multi-cloud services that enable digital innovation and enterprise control, vmware helps you keep your cloud options open. you founded your kaya