again, it's called cecil, the cumulative expected loss analysis that the f if asb -- fasb has put inproviding bad loans that haven't shown up, making estimates for what the bad loans are going to cost the banks. so we've never done this before. that's why it's shocking when you see these provisions, but you have to remember we're front loading several quarters of losses in the future. so that's why i think it's been a little bit more of a reaction to these earnings. but really what we're looking for for signs for this industry are what's happening to these deferred loans that are out there. that's an uncertainty. we'd like to see the economy continuing to improve. i think that's enough. even if it's not vast improvement, as long as it is improvement. and then investors also want more comfort on the dividend. the dividends are become more of a question since the federal reserve did their stress test about two weeks ago. jack: yeah. lots of people buy e the stocks for the dividend. that certainly is important. tom, thanks so much for your insight. >> that that's great, thank you. jack:

on day asbe a risk investors sell treasuries as well.s is bloomberg. ♪ matt: welcome back to "bloomberg market: the european open." 30 minutes from the start of cash trading and you can see we are looking at 2% gains across the continent. in london even, the gains are 1.6% on futures. we could see a risk on start this monday morning. let's look at key events to look out for this week. the u.k.day, chancellor will set out the government's plan to kickstart a british economy. 's address follows boris johnson's announcement of millions of pounds -- billions of pounds of infrastructure spending. on wednesday, president trump hosts the mexican president at the white house. this will be the mexican leaders first foreign visit since taking group isd the euro expected thursday to announce its new president, the spanish and irish finance ministers are among the main contenders for the job. on this friday, singapore holds an election. the prime minister seeks to renew his mandate after the pandemic pummeled the island's economy. let's talk about t