baird cuts cat from underperform to neutral.they say the stock is nearing a cyclical pivot, pointing to retail sales and growing backlogs. the firm sees a major slowdown for nonresidential construction into '24 as commercial real estate loans face pressure and nearly 70% are held by regional and small lenders. pretty interesting, sort of offsetting the bullish commentary on cat that the infrastructure act will add to more building around the country. >> which we've heard, and we've heard from other companies, and certainly there is a lot of money in the pipeline that has even yet to be deployed things like infrastructure and inflation reduction act. you can call that more of a bull case for names like cat, and whatever happens in the energy and commodities sector. this did get my attention because they specifically said in the note, nonresidential projects, specialically commercial, lodging, recreation and office. it's sort of this dynamic of you're seeing slowing demand amid a slowing economic and construction and credit tighte

. >> with me right now to discuss is gregory baird, the president and chief executive officer of thepolicy institute. greg, so good to see you. what's your reaction to janet yellen saying no government bailouts for the silicon valley bank? >> this is how it was supposed to work. coming out of the last financial crisis, the idea was that no bank should ever be able to fail, but it should be able to fail without the taxpayers losing money, without financial stability. i think her reaction is a good sign. >> the fdic ensures up to $250,000 per depositor. a lot especially with payroll account have a lot more money in that bank than that 250,000. will they be able to recover some of their fill eun, or is that when the government will potentially step in to assist? >> the fdic's job, first of all, is to ensure that depositers get paid off. in this case there weren't that many insured deposters. it was primarily uninsured depo depositors, tech firms. they're looking for a buyer, whether that's for the whole organization or parts of it, and to the extent they get those recoveries, those moni

ok, former victims commissioner vera baird. i hope for it.ave provided them with proof of inferior building materials being used in construction. the team will produce a report in a matter of weeks, designed to improve seismic safety when the area is rebuilt. the devastation of last month's earthquake. more than 50,000 people lost their lives as buildings collapsed in the biggest earthquake to hit the region in almost a century. now, an investigation is beginning to try and find some answers amongst the wreckage. so how many buildings did you actually end up serving as a team? professor emily sow is leading the earthquake engineering field investigation team or e—fit. structural engineers in the uk and turkey are working together to assess the damage. she has been getting the latest update from someone who's been there too. they have been taking some samples of concrete and has found large pebbles embedded in it. do you think they got these aggregates locally because it's got lots of rivers around? yeah, all of them taken from the river. the

brian baird, so glad you could be with us.couple of days, pope francis marks his tenth year as the head of the roman catholic church. has he delivered on the progressive agenda he promised? we'll discuss next. just a fun, spontaneous thing.. i'm looking for someone who willll let loose. dress up a little. see a show. order the steak and the lobster. some people say i'm excessive, but who cares. i'm just looking for a saturday to remember, and a sunday by the pool. think you can keep up? when covid hit, we had some challenges. i heard about the payroll tax refund that allowed us to keep the pele that have been here taking care of us. learn more at getrefunds.com. - [female narrator] five billion people lack access to safe surgery. thousands of children are suffering and dying from treatable causes. for 40 years, mercy ships has deployed floating hospitals to provide the free surgeries these children need. join us. together, we can give children the hope and healing they never thought possible. it's a mission powered by love, ma

baird is downgrading industrial equipment-maker caterpillar today as well as the equipment rental companyt the companies could be hurt by what charlie was just talking about, the ongoing banking crisis. according to the baird analyst, tighter credit conditions going forward could mean, or cause a meaningful slowdown, in new small, medium-sized non-residential projects in 2024. however our "countdown closer" seemingly taking the other side of the trade recommending two stocks that benefit from construction projects. joining me now with 1.2 billion in assets unmanagement, hudson valley investment advisor, ceo, chief investment officer gus sacco. why the names, why are you taking a position in those? >> higher interest rates. granger when you have cost of capital now, all of sudden they become more important. all of sudden you don't have to hold assets within the company. they're great distributor help you worldwide getting different equipment that you need at a lower cost. the other one that we like, that analysts community actually likes quite a bit is lincoln electric, 110-year-old weldin

baird. your comments about rural america matters and their voice should be heard in our nation's capital is extremely important. mr. chair, i want to now recognize representative kevin kiley from california. mr kiley: thank you. i rise today in support of h.r. 1, the lower energy costs act. which does something a little unusual. it actually does what it says it's going to do. the lower energy costs act. it's going to lower costs for americans and, in particular, in my state of california. where we pay the highest energy costs in the country. it will do that by lowering utility bills, by reducing gas prices and by reducing the cost of everyday goods. by reducing the cost of transport. and it will do this by making our country more energy independent, enhancing our capacity for domestic energy production. there are a number of other benefits to this, by the way. it will create jobs here in the united states, it will enhance our national security, it's much better for the environment than energ

i want to thank senator baird and representative braybeck for their leadership on this issue. [applause] and i want to be very clear i'm not talking about law-abiding citizens. hunters and responsible gun owners from both sides of the aisle know we need to get these commonsense safety proposals across the finish line. we need to do this for our kids. like one from plymouth. he wrote to me and said he just wants to feel safe going to school. we will get this done so you and your classmates can focus on learning and growing. tonight i spoke to three groups of michiganders so we can all see ourselves n i propose we lower my cost, we make it in michigan, and fund public safety and education. there are many more priorities i will share in my budget proposal in two weeks. but i want to highlight two more tonight that impact us all. infrastructure and climate. [applause] now if you just moved to michigan or you have been living under a rock, you might not know roads are pretty important to me and the people of michigan. our state flower might as well be an orange barrel. since i took

why a kill alex baird report. the street flitted with crumbled facades. rescue teams in ecuador scrambled to save those still trips after the earthquake will be a part of the facade collapse. them fell on a vehicle that has already been removed by the police. we had one victim without vital signs. a male person and a number of buildings have collapsed across the coastal state of laurel and us. why in the andes. like and people ran out, they yelled in despair. all the people got out of their cars. i don't know how in earthquake would feel in a car, but they were desperate and they ran, they yelled, they cried. there were reports of damage to infrastructure across the region and landslides, blocking civil roads. the trim was also felt across the border and northern peru where a young child was killed when her home collapsed. the baby was playing where the stain of blood is. she was playing with my other niece and the brick fell on her ecuador and peru, a prone to earthquakes. they struggled the so called ring of fir

>> absolutely not, congressman baird we do not have that level of capacity in our facility. >> it currently takes around five years for an asylum case to be heard. sometimes longer depend on what part of the country that you take. this is the danger of turning an agency like yours that is meant to catch terrorists, fentanyl, real-time situations and putting you in the processing centers. my next question is for chief modlin. would ban it all aside and claims including people in legitimate life or death situations the border more or less secure? >> thank you for your question, sir. i don't know that banning any asylum claims would make the board anymore secure. >> i think your sector in particular where the bulk of the book of the people come over our gotaways, are essentially trying to flee and escape. that's what i worry with the rhetoric, if you divide the two you won't solve the root of the problem which is essentially catching bad people from entering our country. i want to go back to chief chavez. with manpower and technology would that help start to secure the border? >> yes, sir abso

baird sees the stock as a good value. analysts at morningstar calling it anecdotal and key bank says it is nothing new to shareholders. frank, the allegations emerging from the two-year investigation from hindenberg is narrow. focusing on the cash app for illegitimate activity. this is the other case for p-to-p providers. now, there is the question raised by hindenberg if block was misreporting. the report alleing that block avoids a regulatory by routing through a small bank. lots of fintechs benefit by partnering with institutions with less than $10 billion in assets to pull in more from interchange fees. >> there is the fact that hindenberg has skin in the game in the trade. are they shrugging off the allegations? >> that looks to be one factor at play here. hindenberg shorting the stock so they stood to do well if it plunged. when the stock was down 20% and short sellers made $400 million according to the analytics. we get the response from block on thursday saying it intends to work with the s.e.c. to explore legal a

chris baird.io host, democrat strategist fox news contributor, lovely angeleno lesley marshall and antiwar.com. it is scoot scott horton. chris, start with you. you have some skin in the educational game. at least in terms of family member teaching in virginia. why is randi wine garth inch the supreme courts person. >> i have no idea. my husband is eighth grade english teacher in rural virginia, randi could have gotten her fat ass on off supreme court and come here to see what here policies have done to teachers, and families, students whose lives are destroad because destroyed. every single turn randi has cared about two things. attention, and politics, and that is it. she is like the doctor who is not just bad at his job but intentionally trying to kill out operating table. she is a disgrace, i can not believe there is a si person in this country who would want to put her on a mega-phone. kennedy: lesley, i agree, i don't think she is doings movement any favor. >> as a feminist high lost me at f

clawing back yesterday's steep losses with the kre having its best day now since november of 2020 baird with an especially bullish new note today, calling regional banks, quote, one of the best risk/reward opportunities in years. but moody's at the same time does cut its outlook for the u.s. banking system to negative this morning joining us, kevin blair, bank with nearly 350 locations across the southeastern u.s., stock moving today as well kevin, great to have you we have had heard from quite a few bank executives in the last 48 hours, let's say, who suggest it's at least something approaching business as usual. is that how it feels >> it does when you think about what's happened the last couple days, it just presents us with an opportunity obviously to be in front of our shareholders or in front of clients telling a story. as i told our team members yesterday and some of the clients, we're built on relationships. and when you have a relationship with a client, it's a two-way street when we lend money to our clients, we need to make sure that not only do we underwrite that loan but we

. >> still to come, we'll talk about caterpillar's downgrade at baird, slow down in (woman 1) i justched to verizon business unlimited. it's just right for my little business. unlimited premium data. unlimited hotspot data. (woman 2) you know it's from the most reliable 5g network in america? (vo) when it comes to your business, not all bars are created equal. so switch to verizon business unlimited today. asking the right question can greatly impact your future. - are, are you qualified to do this? - what? - especially when it comes to your finances. - are you a certified financial planner™? - i'm a cfp® professional. - cfp® professionals are committed to acting in your best interest. that's why it's gotta be a cfp®. 92% still active? seems high. seriously? it's just a bike. wait. they make a treadmill with an intuitive speed knob? yeah. want to try? 92% stick with it, so can you. start a 30-day home trial today. terms apply. >>> it's timefá for "three stoc lunch," and today we're sipping on some big analyst calls, epocially caterpillar, which was downgraded to underperform at braid

vera baird. new employement figures showjob vacancies in the uk fell for the eighth time in a row.esday's budget when the uk's chancellor is expected to set out plans to encourage people back into work. the number ofjobs on offer between december and february fell by 51,000 compared with the three months before. the unemployment rate remained at 3.7% — low by intera ntional standards. the chief executivejon economist at kpmg gave us her reaction to the figures. fin kpmg gave us her reaction to the fiaures. ., ., 1, ~ ., figures. on the one hand the bank of encland figures. on the one hand the bank of england might _ figures. on the one hand the bank of england might be — figures. on the one hand the bank of england might be a _ figures. on the one hand the bank of england might be a bit _ figures. on the one hand the bank of england might be a bit more - figures. on the one hand the bank of england might be a bit more worried| england might be a bit more worried because it is quite likely that wage pressures which remain relatively high, but then on the other hand it means the econo

fast to the downside one of the interesting things i saw this morning, i think it was an analyst at baird who upgraded u.s. bank. usb over here. >> which has been beaten up. >> it's a super regional it's way bigger than silicon valley bank or first republic but any regional banks have been hit hard is there a franchise value at some point that is now way below where it should be >> pnc and truist were part of bank deposit into first republic a lot of people thought it was notable it wasn't just the jpmorgans and morgan stanleys. >> or bank of america. >> that was on team we're safe and getting inflows. those super regionals benefitted from that. have the deposit outflows calmed down we heard that from a treasury -- deputy treasury secretary on the show friday they were encouraged to see deposit outflows calm down and liquidity in the system officials at treasury are still encouraged by that trend, but it's been tenuous. mike santoli joins us as we try to monitor if we're seeing a relative calm. is it a ring fence or the ups and downs we've been experiencing >> i think the latter is probab

but at the moment, what we're doing then, do you agree with what sheila baird, the head of the fdic under obama and trump -- bush and obama, sorry, what she just said to me. she was clear and confident in using the word bailout. what you're describing is we are bailing out, this is a bailout, because depositors, taxpayers are going to pay for it. >> well, i think what we don't know quite exactly yet with silicon valley bank and with si silver gate yet, to what extent taxpayers will be on the hook. i don't think we have any indication that will necessarily be the case, but to be clear, the insurance fund which is going to be used is paid for by a tax on bank deposits. and guess what? we -- all of us taxpayers, we also have deposit accounts. we also pay for that. so i think this is not a traditional situation in which, you know, the sort of traditional use of the term, where we're talking about, you know, the executive doesn't get held accountable or people get let off the hook. that's not what's happened yet, and i hope that doesn't happen. i'm going fight like hell to make sure that doesn

the ducks roll past the baird. 84 to 51. they've lost 14 straight games. by the way. all right.ish off with some hockey sharks. they've lost 3 in a row and 6 of 7, but to get healthy as the blues tonight, they lead one, nothing in the first and added on right here. erik karlsson to logan could tore. love side 2, nothing sharks but the blues. now they came back and scored 4 goals in the second period on the power play. brayden schenn in front cup. the goal in the corner. blues win. 63 sharks. bull sharks and loose again. that's your look at sports. we'll be >> all right, guys, we're not done with the wintry weather. yeah. tomorrow, a nice day this weekend. guess what? we get back to some wintry weather. more rain, more snow on the mountains and it keeps going on and right. lauren, thank you for good night, everybody. thanks for joining ♪ ♪ >> announcer: outcry. >> they are saying you send help your cause because the angry calls to rescue the snowbound citizens. >> we need help. this is not a joke. >> announcer: then... >> deborah: jury drama at the alex murdaugh jury trial. >> ju

coming up, sheilah baird, former fdic chair and senior fellow financial stability.lix: more breaking news, first republic stock down 40%. there could be a rescue for the bank, could be unveiled as soon as today. goalman u.s. bank corps pnc are working on a rescue along with jpmorgan. that's according to the journal. this just highlights how quickly things are moving. banking stability clearly "in focus" at the e.c.b.'s news conference. president lagarde was asked about the collapse of silicon valley bank. how it compares to european banks. >> in europe we have strong supervision. we have strong capital. and we have solid liquidity positions. as the vice president said, exposures are not concentrated based on the work conducted by the s.s.m., we don't have similar occurrence as the one that occurred in california, for instance. alix: we are joined now by miles o'grady. is that how you look at it? credit suisse different from s.v.b. and first republic. from where you sit how different is that? miles: first of all. great to be here in new york. particularly at this tim

analysts at citigroup, baird and telsi all cut their price target for the eyeglass retailer. citi is the harshest went from a target of 26 a share to $13 a share the stock is down over 6% today. lastly, hims & hers. the direct to consumer brand still higher today after soaring over 20% yesterday on a narrower than expected loss and a very upbeat revenue guidance. the stock is on track to close at a new high. it's up 1 1/2% right now >> kristina, thank you very much kristina partsinevelos we begin with several pieces of news in the automobile sector starting with the event that everyone is waiting for and that is tesla's investor day. phil lebeau joins us now live. phil, what do we expect to hear this evening from tesla and elon musk >> well, it's elon's vision for the future that's what we're expecting to hear, tyler. and some of this is going to be nuts and bolts in terms of what investors want to hear regarding costs, et cetera, and driving deliveries but overall when you look at the event today a couple of things stand out. one, we will hear about master plan number three.

it was once home to some of the most dangerous prisoners in the middle of the san francisco baird now alcatraz is marking 60 years since that prison closed and up next we're taking you live. i have a dream as [ indistinct conversations ] ♪ hey, class. this is lily. ♪ when you see things differently, you can be the difference. welcome. capella university looks at education differently. our flexpath learning format helps you control the pace and cost of your master's degree. make your difference with capella university. there's nothing like volunteering at the fire department. there's nothing like hitting the waves. but with my moderate-to-severe eczema it hasn't always been easy,... ...since my skin was so irritated and itchy... ...and even worse with all my gear on. now, i'm staying ahead of my eczema. there's a power inside all of us to live our passion. and dupixent works on the insie to help heal your skin from within. it helps block a key source of inflammation inside the body that can cause eczema. so adults can have long-lasting clearer skin and fast itch relief. serious allergi

saying the svb problems are unique joining us on the phone, the analyst on the call, david george at rw bairdlcome. >> good afternoon. >> we're coming full circle this week because it was key bank on monday that sent the regional banks lower when it took down its guidance for net interest income and what it could make from that this year. there is a lot of head winds facing the bank. you're not chacnging your stanc despite what we're seeing play out today? >> i'm not thanks for having me with the stock down today, i think it is providing probably one of the best buying opportunities for regional banks than the covid lows. just to give you some context, we don't cover silicon valley bank, but this bank grew four fold during the 2021 and 2022 time frame they had over 160 billion of their 200 billion in deposits over the $250,000 limit. keep in mind, silicon valley had 17 offices you contrast that with the regional banks, many of them have an average deposit size per branch of just 15 to 25 million per branch from our perspective, it is not something that is really relevant and cannot be convstr

there's a note out of baird. if not now, then when? >> when to buy >> yeah. when would you buy the regionals? >> look, this is the time, and to the extent that if anything there's coming support in terms of confidence for the regional banks. we still don't know really what the costs are going to be and those costs are cost of capital, we don't know what the regulatory environment is going to be. i think we'll be waiting for a long time if we want for that to change so, if you look at the times when banks had this kind of credit dislocation in history, this is typically the time if you look at what the bkx has done over the last four, five days, it's st 's stabilized somt i still think we have information in terms of who is going to be forced into bed with who, et cetera no question to me that we are overdone in terms of the group, in terms of positioning, in terms of what was specific to the banks, had the duration mismatch, the funding mismatch, whatever you want to say, that's not the entire banking sector. >> julie, you are just shaking your head, no way j

the vera baird hotel in newquay migrant hotel claim counterclaim onune migrant hotel claim counterclaim through the newspapers. will gb news is southwest reporter jeff moody was there. jeff, tell us, please exactly what happened outside baroness hallett hotel a couple of days . oh, where do i start? of days. oh, where do i start? nigel it was quite a situation. i mean, there were around 50 protesters that were protesting against the use of the paris hotel to house migrant . there hotel to house migrant. there was also 150, at least eight people that were protesting about them. now, those protesters , the protesters, the counterprotesters , if you like, counterprotesters, if you like, all turned up in masks. they all had their faces covered. and they were becoming very very aggressive, very, very , very, aggressive, very, very, very, very threatening , calling very threatening, calling everybody inside fascist. that was that big word of the day. everybody was a fascist, fascists, people that were protesting that were worried about their that. their daughters worried about their families

. >> reporter: singer-songwriter rob baird performed this past weekend in his home city, known as thetal of the world. >> austin has changed i think in a lot of ways. ♪ >> reporter: paxton pub is where bear played his first austin show, an iconic fixture of the city's music scene. >> for 33 years. >> reporter: over at anton's nightclub, open since 1975, blues rock guitarist paul took the stage saturday night. twirling dancers filled the floor at the broken spoke honky tonk, now almost 60 years old. >> we have almost 200 live venues performance bases in austin. >> reporter: here in downtown austin, the city pays tribute in several ways to a legend known for his own brand of country music, singer and songwriter willie nelson. and this weekend austin will welcome country music's great including blake shelton, keith urban and carrie underwood. gearing up offering a specia cowboys and cavier passage, which includes a longhorn denali ride to the event. we stayed for special rates there and at lady bird lake. hungry guests can chow down on brisket or go upscale at garrison inside the fairmou

the vera baird hotel in newquay migrant hotel claim counterclaim onune migrant hotel claim counterclaim through the newspapers. will gb news is southwest reporter jeff moody was there. jeff, tell us, please exactly what happened outside baroness hallett hotel a couple of days . oh, where do i start? of days. oh, where do i start? nigel it was quite a situation. i mean, there were around 50 protesters that were protesting against the use of the paris hotel to house migrant . there hotel to house migrant. there was also 150, at least eight people that were protesting about them. now, those protesters , the protesters, the counterprotesters , if you like, counterprotesters, if you like, all turned up in masks. they all had their faces covered. and they were becoming very very aggressive, very, very , very, aggressive, very, very, very, very threatening , calling very threatening, calling everybody inside fascist. that was that big word of the day. everybody was a fascist, fascists, people that were protesting that were worried about their that. their daughters worried about their families

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talking this morning with democratic strategist lauren baird and republican strategist mike lychee. are talking about political news of the day. we want to know your questions or comments. democrats your number is 202-748-8000. republicans 202-748-8001. independents 202-748-8002. our next caller is bernie in raleigh, north carolina on the independent line. caller: hello. host: go ahead. caller: i just wanted to say there so many red flags, strikes against him that it's close to being insane that this guy could get 400,000 feet from the white house without being assaulted and arrested. it goes back to the 50's, the 60's when he was a kid, his parents said don't sell anything to blacks. from there it got worse and worse. but then january 6, come on. how could legally be that this guy continues running to be president once again when he was solely responsible for injuries, even deaths, telling his schools i want you to get out there and don't be weak and forget about saying they have weapons they can come in. coming with their weapons and defend me. it's been proven that that was all b

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talking this morning with democratic strategist lauren baird and republican strategist mike lychee. are talking about political news of the day. we want to know your questions or comments. democrats your number is 202-748-8000. republicans 202-748-8001. independents 202-748-8002. our next caller is bernie in raleigh, north carolina on the independent line. caller: hello. host: go ahead. caller: i just wanted to say there so many red flags, strikes against him that it's close to being insane that this guy could get 400,000 feet from the white house without being assaulted and arrested. it goes back to the 50's, the 60's when he was a kid, his parents said don't sell anything to blacks. from there it got worse and worse. but then january 6, come on. how could legally be that this guy continues running to be president once again when he was solely responsible for injuries, even deaths, telling his schools i want you to get out there and don't be weak and forget about saying they have weapons they can come in. coming with their weapons and defend me. it's been proven that that was all b

baird goes to underperforming with some neutral onlye1 a mont it's two downgrades in 35 xdday. >> welle people are having a strong morning. >> what do you think of that? >> what do i think of it? >> yeah, the banksok having a >> well, i think it'sñr indicate we'rexd closer to the end of th mini-crisis than we are to the beginning. >> we should be buying back banks. >> what was an algo trade? >> selling banks, buyingq stats. selling companies with bad balance sheets. >> you could say that about virtually anything in this market. >> but not oil. oj maybe we doévxd talk enough about the power of the %y■ models. >> we should, becauseqçó you señ them. >> they doqejjujáujÑi amounts of money onfá a daily basis, an things out, and çóreally, it's usually them. >> that's okay.q when real investors come back, that will change. >> oh, really? real investors?q when is that going to be? >>çói=dwhenxd moneyfá marketsi] payingr >> who are real investors, by the way? who are we even talking about? >> who are the real investors? well. david, okay, let'#y4jñ it? that's a myth. ou had a vision not unlike

the top gainers in that sector so far today that follows declines over the past couple sessions with bairdh firms count svb as a client. that's another ripple effect there. another payment in fintech names are rebounding including global payments, fleet corps and jack henry, so payment providers, financial technology, a big focus. back downtown to you folks at the new york stock exchange. >> a lot of ones in the eye of the storm. thank you. >>> mark zuckerberg's year of efficiency, back in focus after another round of sweeping layoffs and job cuts at meta julia boorstin with more on that for us he said it was the year of efficiency. >> he did, sdooeds, and he's following through with that. with announcing another 10,000 employees he's going to be laying off and closing 5,000 open roles, he warned the possibility that this new economic reality will continue for many years and as part of all of that, meta is lowering the 2023 expense guidance. forecasting a range between $86 billion and $92 billion, down from a prior range between $89 billion and $95 billion. saying that this is inclusive of

baird cut to neutral last month. >> i have trouble. look at those.ave trouble with 3m i have happen to have -- i had clean harbors on tonight they know pfas is a nightmare but it's not a bad time to buy traditional blue chips if you can find them. but also, why don't we just talk for a second about blue chip technology stocks? has zuckerberg made a mistake lately he's frighteningly on his game, isn't he >> yes well, the tiktok story is gathering speed. they hired a big d.c. lobbying firm >> tiktok did? >> skdk. >> well, they've got -- they've got their work cut out for them. >> yeah. and now reports today that actually a company spokesperson saying they're considering a decentralized social network that would exchange basically a twitter competitor >> they should move out of twitter and thailand, which they can't, because they're chinese >> watching svb. we talked to faber at the top of the hour, who's back david, is there more >> yeah, guys, thanks. you know, i just wanted to come back because obviously we did share with our viewers the headlines th

one of the regional players, truist financial shares are getting up to outperform from neutral at bairdt they don't believe the larger regional bank industry is as exposed and the customer base, in truist home footprint of the southeastern united states is one of the most attractive and stable in america and they also say some regional bank valuations are the most attractive levels back to the pandemic market low, sara, of march of 2020. there's a sell-off going on right now. the question is where is the baby and the bath water, that sort of thing. >> and then where the fundamentals really. thank you. dominic chu. >>> for more on the svb fallout, let's bring in here post nine great guest, former barclay ceo bob diamond led the bid to buy key assets from lehman brothers following the subprime mortgage crisis and founding partner and ceo of atlas merchant capital. how much deja vu are you having right now? >> you know, it's a bank run bank runs are scary. it was, you know, i think the actions that have been taken by the fed were appropriate i think when you just get to the narrow issue of

when dame vera baird, i to get it right. i am confident now i we will. just made the _ what victims need. do you? well, you've just made the point i what victims need. do you? well, you've just made the point it i what victims need. do you? well, you've just made the point it hasl you've just made the point it has been a long time coming, which shows you how carefully we have consulted. as ijust mentioned, we are strengthening the role of the victims commissioner. but i do think that it reinforces the case for making sure we don't have party political figures in these roles, but actually get people who really are well versed and have a granular understanding of the real—life experiences of victims. i'm very confident now that the next victims commissioner will fit that bill. you are deu commissioner will fit that bill. you are deputy prime _ commissioner will fit that bill. you are deputy prime minister, of course. you are standing in for rishi sunak laterfor course. you are standing in for rishi sunak later for prime minister's questions. let me ask abo

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what he sees is jason trener, he is the chairman and ceo of strageus research partners, which is a bairdny conflicting viewpoints, it's pretty confusing out there at this point. what do you hear >> been running around since the start of the year. this year in particular has been frustrating for bulls and bears, both value and growth. one of the things that we're hearing more of is this idea of a no landing scenario. which i have to say personally makes me a little bit more worried that, you know, the idea that maybe the fed could just so completely stick the landing that they could bring inflation down without having a recession. the reason why that worries me is that in the absence of qe, i think you're going to have a real business cycle. which is a fancy way of saying inevitably you're going to have a recession at some point, and the longer it takes to get to that recession the harder it's going to be. >> getting back to a business cycle is a good thing. we've been in this crazy inflationary period for over a decade. >> my own opinion, quantitative easing for 13 years was a massive po

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not our show you are watching "squawk box" on cnbc >> announcer: this cnbc program is sponsored by baird. visit bairddifference.com. >>> short-term bond yields are up following jay powell's testimony to lawmakers saying rates will likely remain higher for longer joining us now is joanne feeney. how would you like to be jay powell you want to get the yield curve up so you say stuff and the short-end goes up and it effects the opposite way because the landing, whether soft or hard, could be harder than you thought. everything is so count counter counterintuitive people at home are scratching their heads over what we talk about most days. >> joe, you are right. it is a very unusual situation we don't have recessions in history that match the pre-conditions this one has. that is why the fed is in such a suffici such a tough spot. i don't want to be jay powell. you have to look at high inflation now and rates moving higher and likely to stay higher for longer, plus the potential of recession, which means lower earnings growth. that makes investing challenging. we look at our clients and parti

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bank shares, usb is getting help from an upgrade at baird to outperform on better risk reward at currentares for u.s. bank corp. helping up about 2.5%. moving to europe, over 2.5 billion shares of volume in the wake of its broker takeover of embattled competitor credit suisse, analysts over at kbw have downgraded it to an underperform citing amongst other things unknowns around capital requirements and litigation risks analysts at bank of america upgrade the stock to a buy saying the logic of the acquisition is powerful and cost synergies could be substantial check out shares of meta platforms. the social media jigiant gettin help by analysts at edward jones saying it's making meaningful and notable reductions in expenses and addresses concerns about heavier spending on metaverse. pe pe pep pepsi co. shares up fractionally a market perform over at bernstein, a bit of a mea culpa by analysts who say they were wrong and that the momentum for growth in key brands and beveragb beverages could continue keep it right here, "squawk box" comes back after this quick break. thing. it really is som

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