do you do it by bank by bank, small bank versus big banks? what we call systemic risk to our banking system as to what will not, keep in mind how you do that? >> well, as you know, we have to have a regulatory system that allows us to look both at the capital and liquidity position of individual institutions for their individual safety. and then we look at factor that affect the stability of the financial system even apart from individual institution failure. >> i'll ask this of the whole panel. how will the agencies that you head up take cost benefit analysis into account when impleamenning regulations? and how important is that? >> i'm happy to start. >> go ahead. >> with the fact that i think that that is an extremely important factor in any regulatory process, looking at the cost of regulation versus the benefit of regulation doing that seriously and honestly is something as regulators are required to do by through and also very appropriate for us. >> i agree. cost benefit analysis is crucial for us to determine the outcome of the rulemak

compete with the local banks they partner with them so the local bank is like a friend. it's a customer so one of many ways in which the bank oh and to make it is very profitable i mentioned that there was an article in the wall street journal and two thousand and fourteen that said they were more profitable than j.p. j.p. morgan chase and goldman sachs. so here you have an exemplary example of a bank doing what banks should be doing in north dakota and during the crisis it did not suffer it did not require bailout it remain it's up and running it is profitable so i guess your benchmarking amount as an example for the projects here in los angeles right where we get pushback on that because people if there is one hundred years ago and we had this matter north dakota etc but it's an excellent model and. you can like germany where that has the strong spark as and. half their banks are publicly are and are in the public sector and they hold that one thousand forty five of their economy has absolutely crashed and now there's strongest economy in europe so how did that happen

banking big banking interests which goes back to. the euro quickly wrote about it in the sixty's that their bank for international settlements was. cartel central banks and their goal was actually to take over markets and control and actually buy up the world and make it look like governments where it's free money when it's actually the banks that were issuing money brave a lot of the stuff they talk about and write about for years you know it's really coming to the head really coming to fruition i really see the obvious manifestations in these sky high stock prices in the bond markets and in the financial chaos that's going all over the world this is all been it's written about in a web of debt all in we have to read we have a debt you would be surprised if any of that was to say have events coming up. i have three present conference and two presentation and some ways of where we find you are. right ellen brown dot com and public thank you to that. public bank oh argue with me because report ok again thank you is going to do it for

how do you balance the risk in the banking community command you to do it bank by bank versus big banks. it allows us to look both at the capital of the individual institutions for the individual safety. how will those agencies that you had to take up the cos cost-bent analysis into the account when implementing regulations? intel important is that? >> i'm happy to start with the fact that i think that is an extremely important factor in any regulatory process looking at the cost versus the benefit of regulation doing but seriously an honest as required to do by the law and it's appropriate for us. >> i agree, the cost-benefit analysis is crucial for us to determine the outcome of the rulemaking and to avoid unintended consequences that in some cases harmed the very entities and consumers that we are trying to protect. >> we certainly pay attention to it for what's the cost and benefit. it's the back of the envelope in many cases. it is as sincere and good faith effort as to what are we really accomplishing here versus what is it going to cost, so it is a little more visceral than it is

banks can transfer money across state lines at the non-bank competitors have to get state licenses, do they not? >> are you saying where a bank has a location to multiple states? yes they can. and nonbanks will use a financial institution to accomplish it. >> how about federal deposit insurance, does that give the bank a competitive advantage over a competitor burned like a money market mutual fund? >> up to a certain level it does. >> it gives people confidence that the government stands behind those deposit. >> in 2008 and 2009, the american taxpayer bailed out some of the larger financial and -- financial institutions. do you think those financial institutions would have survived. had the american taxpayer not stepped up to the plate and bailed them out? >> i can't speculate on that because i think it was a very important think that the banking industry was stable. , there was capital there to ensure the financial institutions would be there to support. click citigroup, $475 billion. bank of america got $336 billion in dollars in guarantees. without those guarantees and loans from t

ok the zombie bank plagued as spilled over to zombie corporations what is a zombie bank is on a bank is a bank that's technically insolvent it's kept alive by bailouts continuing rolling balance from the central banks because of their friends in the other the banks the commercial banks the lloyds the h.s.b.c. the b.n.p. the citibank they're technically insolvent but they're kept alive even though zombies has a perpetual rolling of bailout they call quantitative easing or some other name that they come up with every few months this is spilled over now to the general economy and the corporations listed on the s. and p. five hundred these are in fact companies that cannot maintain their buy ability through profits as that word is understood that you're selling stuff for more than a cost they are reliant entirely on blood transfusions this is a vampire economy this is a frankenstein economy this is a zombie economy and of course of course the pop culture reflects this as bob proctor as was saying to the one nine hundred eighty s. the pop culture. guys is reflected in the market zombies a

bank. today, it is bank of america. retail network. if you want to look at a branch network, with a full range of consumer and financial, that is bank of america. tom: does jpmorgan want to be there? does jamie dimon want to go after that part of the business? frederick: nobody is going to reinvest in that today. they're trying to do it with technology. they are competitive but they do not have that legacy network that bank of america does. -- what will you be looking for in bank of america? one of the things we look for is net interest income. where do you expect that? frederick: we want to see stability. net interest margins of banks have been under pressure because of moves in libor. if they can come in with reasonable loan growth, 1% to 3%, people will feel pretty good. loan growth has been something that has been disappointing into the quarter. expectations have been reduced. francine: if you look at the cost of bad loans, they were all seeing a healthy consumer. any reason to believe it would be different if you are a bank of ame

had the react as the bank of england? -- how do you react as the bank of england?re trying to maintain as neutral a position in our portfolio. luckily, u.k. stocks and bonds don't care much. the sterling is difficult. nejra: another issue that's been difficult, and we saw another reaction to italy friday. they have to sell italy's budget to eurozone counterparts. i've got a counter -- chart on the bund spreads. this was pointed out by cameron crise, one of our bloomberg strategists, saying since the early 1990's, you have three situations. full-blown panic and above 300 basis points, situation normal, and no man's land. we're in no man's land right now. he says we won't stay there for long. if we don't, which way do we go from here? will: you've got rating agencies coming up toward the end of the month. is it moody's 26, something like that? then you got the showdown, october 15, when they submit the budget to the european commission. the november 1 they come back. it's difficult to call. that may put more pressure on bcp's. from the european commission perspective

metro bank is sliding.loomberg. ♪ >> we have gained market share in our investment banking market revenue for four quarters in a row. it demonstrates the return on investments we have made. also had a great quarter, positive jobs, positive earnings. quarter was softer than we expected, it has to do with the revenue development. stable, and i i is very which is good news. third quarter is traditionally seasonably low. this is driven by lower fees and commissions. >> there has been no slowdown in growth, but you do get the sense that we might be reaching the end of the curve here. he see a little bit of slowing down, but not anything that looks like a crash. that was a taste of our banking interviews, a host of ceos talking about their performance. let's take a look at the stocks moving in the mid-cap base. anna marie has metro bank in her sights. of the biggest losers, down nearly 12%. i thought it was interesting, the chairman saying we might be reaching the end of the curve. dws is a little bit higher. the

-- profitable banks? workersn one third of in this country were unemployed for 27 weeks or more, losses to household incomes were devastating, latinos and african-americans suffered even worse losses. don't try to argue household wells has recovered since the crisis, because aggregate measures are misleading. the federalfrom reserve board of governors shows the top 10% of households have seen big gains in wealth but the bottom 90% have experienced no gains. so this committee and u.s. regulators seem to be most interested in finding out how those 10% can be even more profitable. sinceverty rate rose 2.5% 2012. 46 point 5 million people living in poverty by 2012, 8 million children affected by the oneclosure crisis by 2012, out of 16 in ohio affected, even higher in states like nevada and rhode island and maryland, on this committee, and tennessee. we all know the lasting impact of childhood displacement, although our government does not seem to care a lot about that, and there are a lot of examples about t

to the commercial bank inside. in the late 20s and early 30s, it was the international side, germany, chile, a member. they got money from the reconstruction finance corporation similar to what chase and continental bid. maybe i was just naÏve going into it or got bad information, but there was never really any spillover from the end of strengthening us. they were worried about it and we found in communication between the examiners and the headquarters that they were concerned about it and wanted details. there was no spillover and it was an urban myth hopefully we can work to dispel. in 2008 you have been in the hae commercial bank and i think one of the myths of 2008 is people tend to want to blame particular financial instruments with her a credit default swap or collateralized debt obligation. i think if you look at it and the problem generally what you see is commercial bank, big losses across the board from the most simple instruments to the most complex. on the commercial side, the credit and lending side an

danske bank is down by 3.9%.have dropped their 2018 share buyback plan after regulators suggest they need to. the u.s. doj has requested information with regard to its criminal probe in estonia and denmark. for theirthis mean ability to do business in the united states and in the dollar system? we will talk about that. let's return to big picture things. european markets opening weaker. u.s. fed chair jay powell is talking about raising interest rates to a level where they could restrain economic growth. >> we are gradually moving to a place where interest rates will be neutral. we may go past neutral. we are a long way from neutral at this point. anna: joining us now is the senior partner and cio at saracen ad partners. good to see you. a lot to talk about. let's talk about the big picture with regards to the united states. no reason to is think the cycle can't continue for quite some time, effectively indefinitely. too punchy? >> a little. we are looking at an extraordinarily -- extraordinary economic experimen

how are the banks and the aig doing like dyke's your bank and these other banks i can't imagine that. saying they're doing very well let's look imagine the amazon before being a trillion dollar company apple is now a telling dollar company as well that u.s. dollars not zimbabwe dollars and that remember back in the dotcom boom we had cisco was going to be the first trillion dollar company before it flamed out of famously ninety percent crash where is this going it is amazon and these companies going to two trillion or is there going to be a flame out well you touched upon something that's interesting no i think it'll definitely be a flameout i think amazon netflix are two of the biggest flames that don't make money that will flame out and test must go to jail but what's happening is a lot of these companies are issuing tons of debt either corporate debt or the raising finance in other methods and what they're using it for is financialization they're not using it to create products so what they're doing with the stock buybacks is they're cannibalizing future earnings and paying off the

manus: ok, let's give it from deutsche bank -- pivot from deutsche bank to another bank.he net income fell short of analyst expectations. nordic region's biggest lender has been challenging and said it was not satisfied with the development in its top line. the earnings come at a testing time for the region's bank. the second major firm to be moneyd of laundering. let's get to the ceo, casper, who joins us now. good to see you. there is a spirit of discipline at deutsche bank. what is the spirit of change your going to do to push the numbers higher? good morning. casper: good morning. third quarter was softer than we fully expected and i am not happy with the revenue development. it is very stable, which i think is good news. the third quarter for us, traditionally, is seasonally low. this really is driven by commissions. marketlue, given the low volatility. i think we are well-positioned oracle -- a host historical quarter. we are well-positioned now to move forward. nejra: casper, good morning. after your second-quarter results, it was the first time in five quarters th

european banks.distinguish between value and value traps? anastasia: i think the italian -- i think italian banks are a very interesting idea. we are looking for some move on short-term rates. i think italian credits that -- a tying credit spreads are really not sustainable, so if that is the case, what is the best way to play spread compression in europe? it is through -- i do see that as a value opportunity. alix: anastasia amoroso of jpmorgan and lori calvasina are going to stick with us. we discuss what happened -- this is bloomberg. ♪ david: time now for the bottom line where we look at three companies that are worth watching this morning. sears has just declared chapter , they say they have $10 billion in debt. who has beenht backing this thing forever is no longer ceo although he is still chair. they're going to close 142 more stores. alix: and they have some good assets like kenmore and their auto centers. wonder whether you get a better price now? david: another complicated location is a lot

banks. but in terms of the numbers, you will see today, first on analyst radar is rates and how rates are affecting bank better formance. a higher interest rate environment is good for banks. so long as they're able to pass those rates through and translate that to higher profitability. a lot comes down to whether higher rates have come in a steady slow fashion or whether they have come in a sharp, more unpredictable fashion. analysts and investors focus on how banks have behaved the second loan growth now loan growth in the u.s. has been decelerating for several quarters now this quarter is expected to be no different analysts looking for 2% loan growth that is a step down from the 5% to 7% loan growth we were seeing a few years ago. thirdly, trading revenues. now capital markets have become a lot more difficult and management teams of several of the banks have good morning through and gudided the market when it comes to trading revenues investment banking revenues will be weaker and this w

the long demand is moving away from the shadow banking, and the formal banking needs to be there tort the credit. it is not really only about the interest rate or the funding cost, but a lot of the smaller enterprises, and the environment is getting difficult for them to ensure credit. has beenee the pboc not only to provide liquidity into the market, but the main thing is how to channel this credit to factors in need, and the sectors which have potential to support economic activities. is aboutthat is it, it liquidity, and if you do not have more stimulus, you have to compensate the loss of that equity coming from the shadow banking. as that is clamped down, you lose that money, don't you? frances: yes, because as the shadow banking is shrinking, which enterprises, the most are the smaller ones. it has been difficult for them to get credit. -- the chapel out card triple out card, there could be targeted. there could be more incentives for the bank to extend credit. china shifts the focus back to domestic laws especially with the external headwind, they would go less aggressive on t

from the central bank?w, probably it won't get uglier, but what the bank of india is saying is if the government were to push them harder, they will take a hard stance. going around is the governor is willing to resign if it comes to that. government, the modi will be worried his reputation international investment community will be affected if this goes on. ideain italy, there is an between liquidity and solvency that wraps around the debt structure of a nation. is india debt encumbered? >> not really. india has taken a policy 20 years ago during the crisis in asian currencies that it will not borrow heavily in foreign currency, definitely not short-term, so india is not burdened with debt. the key for the economy remains oil prices and the pressure oil prices bring on the fiscal situation and local inflation. that is playing out now, but it is gaining seriousness because we are six months away from the general election, a high-stakes game for the prime minister. nejra: is there any reason to buy the rupee

is awhat is so important lot of people say a bank is a bank.fferent strategies. a will be a national bank. tom: what is wells fargo strategy? david: they have to get out from under litigation risk. there under risk of more lawsuits. -- they are under risk of more lawsuits. accounting in banks is complex. they do not have free cash flow. hadells case, they have not normal clean quarters in a long time. there is an adjustment. tom: let us do this. we are so happy to have david pearl with us. joining us is kenneth leon. your first perspective on this earnings report. , withh: i think it is jpmorgan we are getting quality results. it is the weakness of the year. investors are going to be interested in what management has to say about quarter for in 2019 from the perspective of what they are doing to manage the bank and the market forces. mr. dimon and his art $2.1 the needle trillion. -- our $2.1 trillion. they need both sides of the equation to work for growth. one side is the non-and crist income side which is the activity related to loans and ca

bank of england and kuroda. thursday it is all about the bank of england. the rate decision, the flechette growth,nflation report, and spending. what can carney say to the market? nejra: let's get to stephen bell, our chief economist who is still with us. let's kick off with the u.k. looking ahead to this budget. hammond goingilip to need to ramp up spending? it looks like bond traders will give him a pass. steven: usually the chancellor is presenting a budget where things are going in his favor. growth is disappointing and this time around it is a lot better than the admittedly gloomy forecast a year ago. because it's done by the independent office, no one will say that the treasury is fiddling the figures. minister has made lots of spending pledges which he probably didn't agree with. of globalthe kind rabbit out of a hat type of chancellor. i think is going to be a cautious budget, that's his middle name and he doesn't know and we don't know how brexit is going to be so that's a double reason to be cautious. manus: can i ask you, just how bad will the gr

bank governor. certainly we have advocated that in countries the fed is no exception. >> christine lagarde speaking there. it's not the only topic that has been focused on here earlier in the week the imf talked about lower growth path for the global economy they downgraded their expectations, and they also talked about some of the rising risks around financial stability. i think one key point they're discussing here is what happens with the trade, will higher oil prices cause inflation and what is the expectation in terms of emerging market growth rate since we're seeing dollar funding costs go up. i spoke with the head of the world bank, jim yong kim about monetary policy and about how concerned he is about how that may impact growth rates and poverty reduction programs that the bank itself runs let's hear what he said. >> we're watching carefully what's happening with the u.s. dollar there are many developing countries that have very high dollar based debt. so what happens to the u.s. currency is

therefore, who wants to own banks late cycle that's the concern that's why banks are weak. what we're saying the cycle is not over based on what we're seeing and hearing it's certainly not peak earnings even if we're pricing in slower earnings growth, we think banks can pass the test. it's not so much about top line earnings growth, it's better efficiency, share buybacks, more resiliency that's a team that worked for banks. that's the opposite before the financial crisis if you're waiting for great top line revenue growth from the banks, how did that turn out in 2006 and 2007? not so well. this is the opposite of precrisis when banks have slower but more sustainable earnings growth that's what will sustain the bank stocks over the next couple of years and that's the story here, resiliency of the banks. >> one week morgan stanley down seven. goldman down six bank down 8 1/2. citi down 7 1/2. kbe down 8 >> we hear from investors recently -- >> i don't even have to ask a question in that it makes its point all by itself >> the sentiment is negative we hear that across the boar

they want the bank to lend more. the r.b.i. saying, banks are pretty weak. need to put them in order. bankinglem is on the sector health. the other part is the government, given it is an election year, wants to spend more. they need toys actually build more contingency. our economy reporter in mumbai, thank you so much. let's get back to europe and earnings. 10 tender profits grew by 36%. profits grew by 36%. joining us now on the phone from madrid is the bank cfo. great to have you on the show. congratulations on the numbers this morning. i want to start asking about brazil. profit actually down, it due tobe fair may be currency volatility. how confident are you the new hold the in brazil can country out of its economic quagmire and boost your profits there? >> hello and good morning. the new president was reported by a majority of -- supported by a great majority of resilience. recovered.e they are anticipating economic policies will be orthodox. our business continues to grow well read profit increased double digits. we are positive about the business in

. >>> and deutsche bank in the doldrums trading revenues take a hit in the third quarter but the bank says it will still be profitable for the year as it strengthens its capital base we'll speak to the cfo at 12:30 central european time. >>> and brussels and rome face off as the eu rebuffs the populist's government proposals. >>> just to bring you some flash numbers for october for eurozone pmi, the composite pmi is 52.7 against a reuters poll, expectation of 53.9. that's down from 54.1 in september. in terms of services, the number is 53.3, that's against expectation of 53.5, down from september, 54.5. manufacturing is 52.1, against an expectation of 53, that's down from 53.2 all three of those down. you can see the euro is weakening slightly against the u.s. dollar this morning one of our major corporate stories is the strong gucci sales that helped kering beat revenue expectations the luxury house pulled in 3.4 billion euros in the last quarter. there was no slowdown in china despite higher trade tensions. we can see when we look at the luxury sector across europe that effect charl

i think forward guidance is a tool central banks can deploy. you are more of a scholar than i am, adam, but as i read statements from the ecb and the boj, they have that flavor as well, given their circumstance. top scholar at this stage, but moving from academics into practice, in the latest round of announcements we heard you will be chairing a new committee of the fomc specifically to look at communications. >> yeah. >> so it is obviously not just forward guidance or not even forward guidance. what can we look forward to you and your colleagues coming out with? >> the committee was just announced at the september meeting, so it is early days. the committee is comprised of myself, eric rosengren, and rod kaplan from the data -- rob kaplan from the dallas fed. so we are really beginning the process now to assess the priorities that the committee should be focused on. i do not have anything for you on that today, but maybe in the future. >> i would love to have a future visit. presumably there is some reason why you have the committee, right? t

positive for regional banks. jason: we always look closely at regional banks. 's get distracted by the jpm but these have a lot to tell us about the broader economy. alix: coming up, ficc mrs. on results -- misses on results. this is bloomberg. ♪ ♪ taylor: this is "bloomberg daybreak," and i have the bloomberg business flash. gary cohn reportedly has a new job. he is now an adviser at spring labs, a blockchain start up. he has an undisclosed amount of equity in the company and calls it a unique opportunity. he was formerly the president and chief operating officer at goldman sachs. lloyds bank has selected blackrock to manage $40 billion of assets in index strategies. $143oney comes from the billion portfolio currently managed by aberdeen. there will be a partnership and alternative assets for investment technology. bloomberg has learned softbank, has taken goldman sachs as a lead underwriter for the largest ipo ever. they planned to sell $27 billion of shares. the operator begins marketing the sale next month. sales would be less than the tokyo stock exchange

they bailed out the banks with public money.hem any money. and then they sold off the stressed asset cheap to some vulture capitalists from the states. it's obscene. i feel like i've been sold down the river. the former northern rock customers thought they were being saved by the government. it's sickening, i feel like we're being ripped off. but now they just feel betrayed. it's a massive regret, taking the mortgage out. the stress that this caused is such that it scars you for life. the government could have handled this in such a different way and not caused the type of grief that has been caused to us. we've literally hung on by a shoestring for years. the government has left them trapped — forced to pay exorbitant interest rates or give up the homes they love. welcome to bbc news, broadcasting to viewers in north america and around the globe. my name is lewis vaughanjones. our top stories: federal agents search a mail sorting office in florida, as the us steps up the hunt for whoever is behind the bombs sent to prominent cr

what about the other major chinese banks? stephen: we've had a couple other banks already out.report today, including icbc as well as agricultural bank of china. we saw china construction bank pretty much in line as well. up 7.1%.ommunications we had the analyst estimates earlier in the year for the state banks full-year earnings profit growth of about 8%. down to been ratcheted about 5.6% consensus. ,cbc, they are expected according to analysts, mid single-digit earnings, modest revenue gains. loan charges could climb further on worsening asset quality nationwide. bank asset quality also to be tested. they did see massively improved loan quality in 2017 and the first half of 2018. they may find it difficult to trim bad debt further. let's get more perspective with our next guest. haidi: stephen engle, thank you for that. we have the head of china bank ratings for that perspective. great to have you with us. analysts have been warning of potential weakness in chinese banks. is that what you are seeing as well? >> from the quarterly earnings, we've actually seen margins stabiliz

commercial banking. goldman wa nts to sha ke source. commercial banking.e up the dusty world of consumer lending with markers, its online bank. it is engaged not in high—risk high reward trading but the less glamorous work of handing out consumer loans. while the glamour may be fading, david solomon, lloyd blankfein's successoi’, solomon, lloyd blankfein's successor, does have a sheen of his own. he is known for hobbies such as dj ying and his embrace of new technology. the most obvious physical manifestation of the change that happened at goldman sachs under lloyd blankfein is behind me. this is goldman's new headquarters which the bank moved into after the financial crisis. now as it prepares to celebrate its 150th anniversary next year it is certain that goldman's future will be very different than its storeyed past. dj solomon now in charge of goldman sachs. now let's brief you on some other business stories. the usjustice department has sued the state of california after governorjerry brown signed legislation to restore open internet protections known

schad tow banking, coming back onto the balance sheets of the banks. of course it's positive for china. instead of having this big gray area. that's definitely a big challenge for the mid tier and joint stock banks, both in terms of liquidity and funding and margins and capital. basically the joint banks are just meeting the minimal capital requirements. the big four are more comfortably placed whereas the others are only just slightly above that. it's going to be really difficult for any chinese to left that ban. a little more wary of the joint stock banks because of those challenges i mentioned but we like to look at the equity markets to see what they're saying and if they agree with us. it's interesting. maybe even 506 or four may have been trading well below value. it's a difficulties time for them to raise capital. trent: david, you mentioned those levels that are un believable we have bank of china's earnings. good capital tier one ratios. they're unloved though, aren't they? why? >> i think there are many fundamental factors. one is the transpa

treatment of very weak banks.he r.b.i. has done, it has ring fenced about 11 state run banks and tried to nurse him back to health. they have put serious restrictions, especially on lending. this comes at a time when growth is not taking place, banks have retreated, the government is very keen to boost growth, especially with an election next year. so what's happening, some of the banks are slowly but surely coming out of, posting healthier results, and the government wants some of the weak banks to come out of the strictures. the r.b.i. says they need to be a bit more patient, they need to have a bit more of the bitter medicine administered, so the r.b.i. is advocating patience. the government is not so patient. it wants growth boosted ahead of the elections, so it's a bit of an ugly laundry being laid out there in the open. rishaad: this was festering for some time. we had huge divisions between the modi government and themselves. this is now reappearing, the gulf between the two sides. >> absolutely. you are qu

the moment, nation to nation, bank to bank. your history of cooperation this idea of politics bouncing into the monetary policy? i think it varies over time from country to country. it basically depends on what's going on in a particular country at a particular moment. i'm talking about my own country presently trying to form a government. basically monetary policy is completely in the shadow. there are much more pressing issues. it hasn't always been like that, so every once in a while it pops up, but mostly not. just speaking with j.p. morgan about the linkages of your bank to the continent of europe and the idea that mr. draghi with outstanding headline, saying he would signal into 2019.ance well how did you adapt to the reality of the head of the european central bank pausing well into 2019? it is up to the ecb to conduct monetary policy on the eu side. .e are not dealing with that what they do matters to us. tell us it iss time for us to raise the policy rate in december or february because the swedish economy is doing wel

banks just behind them up 1% of course italian banks quite sensitive to what's going on with the italian budget situation so getting a nice lift there as well. at the bottom we have health care down 0.7% and oil and gas down 0.4%. back to you at the desk. >> excellent let's check in on how markets have been doing overnight as chinese markets have extended their rally after authorities pledge to support the economy in the wake of friday's gdp disappointment you can see that the majors are really bouncing and quite aggressively this morning. shanghai up 4% shenzhen the more volatile up 5% hang seng up 2.5%. not much movement in the currency if anything, a tad weaker. all eyes on the equity's performance. as the authorities are getting more vocal about intervening in the market, karen. what's interesting, it's not just the pboc governor, we've heard from the regulator things and what they're trying to do is shore up confidence and provide investors with some psychological support here >> not just investors. have we looked at the detail in some of the plans. it sounds like a populus governme

banks that are recent. i'm talking about history of 200 years. so the point is that we have a real estate problem in the u.s. and we still have one. >> can i have 30 seconds -- >> no, you may not. >> later. >> real estate. he's on it. >> we'll go on to the next panelist, but actually, that was -- that question was an excellent introduction. because the question is, why are we having these risks if most of the problems have been solved? why is -- why are -- why are mortgages or housing prices rising so quickly at the same rate or close to the same rate they did before the 2008 financial crisis and most people seem to believe that that had something to do with the 2008 financial crisis. so we've had ten years during which we should have solved this problem. maybe stnit isn't a problem, or it is a problem, why is it still a problem? i'm going to turn it over now to ed pinto, who believes it's a problem, i think. and let me tell you a little bit about ed. he's the co-director of aei's center on housing and fina

and the canadian banks. >> there's five large banks, five large banks that are recent. i'm talking about history of 200 years. the point is, that we have a real estate problem in the u.s. and we still have one. >> later. >> maybe. we go on to the next panel. panelist. but, that question was an excellent introduction because the question is -- why are we having these risks if most of the problems have been solved? why is, why are, why are mortgages or housing prices, rising so quickly? at the same rate or close to the same rate they did before the 2008 financial crisis, and most people seem to believe that that had something to do with the 2008 financial crisis. so we've had ten years during which we should have solved this problem. maybe it isn't a problem. or if it is a problem, why is it still a problem? i'll turn it over to ed pinto, who believes it's a problem. ed is the co-director of aei center on housing markets and finance. active in housing finance for 42 years. ed was an executive and vice president and chief credit officer, of fanny mae and has done ground-br

europe's largest bank says their stock will become the first from a foreign country to a company rather to be directly bought on a stock market in china the first of its kind listing is just one of several plans for building ongoing links and joint operations between the london and shanghai stock exchanges h.s.b.c. is listing is expected to happen by the end of the year and as many as fifty additional companies could be slated for dual listings in the two financial centers in the coming years. after delaying for more than a year betsy the boss donald trump secretary of education has been ordered to implement an obamacare rule that will help protect students if they've been defrauded they've been defrauded guys by a college why as most of us delayed it to give us more of background and some insight it's a pleasure to welcome back the counsel for civil justice and consumer rights for public says the remington a great remington thank you for being here good to be here so you did so well last time we love having you back to explain what this rule is and why the secretary has delayed it and

plus bank purg tear. the sector stuck in limbo but are some names headed for heaven or inferno the traders weigh in np pete alluded to this. but there is a beaten down stock fallen 30% from the high something that has him pounding the table. he has the fastest pitch real live in z new york city sometimes square more from "fast money" right after this - i love my grandma. - anncr: as you grow older, your brain naturally begins to change which may cause trouble with recall. - learning from him is great... when i can keep up! - anncr: thankfully, prevagen helps your brain and improves memory. - dad's got all the answers. - anncr: prevagen is now the number-one-selling brain health supplement in drug stores nationwide. - she outsmarts me every single time. - checkmate! you wanna play again? - anncr: prevagen. healthier brain. better life. you can do things like change your settings, learn tips and tricks, troubleshoot, and even manage your account. finding your xfinity username or wifi password, restarting yo

banks and china joined as well. it was the beginning of the year central banks have only recently started to exit and added in september they cut rates for the eighth time. last month the bank said it was on track to end bank rates they hiked in august and agreed to oppose ongoing piping of monetary policy. more from "street signs" after this break every call is different, so the only thing that we can do to make sure that we get there safely, and that we leave that scene safely and go home at night, is train. and we train all the time in the fire service. no matter how much we train, the last thing you want in a disaster is to lose communications. without communications, we have nothing-- people get hurt. when disaster strikes, that is when your communication service can really become your lifeline. ♪ (nicki palmer) we are constantly innovating. from a dedicated lane on our network just for first responders to cell towers on wheels. we can even fly cells in drones so communications stay up. in times of crisis, thei

banks report bank ofn new york, america, goldman sachs and others next week.should investors be watching out for? >> it seems like no one is really thrilled about anything coming out. it's actually what's happening in the fourth order. were alwaysgrowth, wondering what's going to happen near, and net interest margins. let's go into my first chart, i want to show you what we are expecting in terms of bank revenue growth. mixed bag.s a jpmorgan, we expect a 5% gain in revenue against the third quarter of faster. the benefits coming from higher rates as well as stronger cost control. you can see citibank, it might see revenue rise of about 2%. beingfargo possibly negative and contracting by about 2%. if he is expected to rise by the 13%. margins,t interest also a bit of a mixed bag. lone fallerthe here. analysts are saying the future is more important than the past. one veteran bank analyst is saying the third quarter is an example of ancient history in that it really won't reflect the interest rate rises that we already have been experiencing. we will have to lo

, a russian bank called alfa bank. alfa is the biggest private bank in russia. they have friendly relations with the kremlin. you don't get to be big anything in russia without friendly relations with the kremlin. alfa bank is mentioned in the christopher steele dossier that was published to such great controversy right before the inauguration. executives from alfa bank actually went on to sue buzzfeed for publishing the dossier, because the dossier does mention this alfa bank. just a couple of months ago in august, that lawsuit against buzzfeed was dismissed in a u.s. court. for what it's worth, i should tell you that one of the billionaire founders of alfa bank has a daughter. not that long ago his daughter married alex van der zwaan. crazy, right? one of the only people whose gone to jail so far in the mueller investigation. probably all just a big coincidence. but for whatever reason, at the height of the campaign in 2016, a server used by the bank kept making contact with a server at the trump organization. when t