our top stories, barclays bank is cutting over 450 staff. has branded the decision as unnecessary and unjustified. they say it will leave people gravely concerned about their job security and livelihoods . job security and livelihoods. they've criticised barclays for cutting jobs at a time when it's making big profits . gb news can making big profits. gb news can reveal that more than 3000 migrants have crossed the engush migrants have crossed the english channel over the last 11 days. it coincides with the longest run of good weather so far this year. home office figures show that 144 channel migrants crossed on monday in three boats today. so far, just two boats have crossed, carrying around 100 people. regulators may have breached environmental law by allowing water companies to discharge sewerage outside of exceptional circumstances. that's according to the government watchdog . normally, government watchdog. normally, it's only allowed following unusual heavy rain to prevent flooding in people's homes. however, the office for environment

barclays bank is cutting over 450 staff.hich represents employees at the bank, has branded the decision unnecessary and unjustified . unnecessary and unjustified. they've criticised barclays for cutting jobs at a time when it's making big profits . this and gb making big profits. this and gb news could reveal that more than 3000 migrants have crossed the engush 3000 migrants have crossed the english channel over the last 11 days. it coincides with the longest run of good weather so far this year. today so far, just two boats have crossed, carrying around 100 people. you can get more on all of those stories by visiting our website, gbnews.com . direct bullion gb news.com. direct bullion sponsors gbnews.com. direct bullion sponsors the finance report on gb news for gold and silver investment . investment. >> it . just time to give you >> it. just time to give you a quick look at the day's markets. >> the pound will buy you $1.2473 and ,1.1637. price of gold . £1,531.34 per ounce. and gold. £1,531.34 per ounce. and the ftse 100

this is the barclays bank. these roofs they're just barely sticking up. and that's the cinema. - oh, boy. - the screen was where the wall is sticking up there, and all the seats that angled down towards the screen were there. this is angelo's. they now have another place out in the north, but it was a big grocery store. and then up top were places, apartments and stuff where you could stay. - how many floors deep here, do we have? - this is only maybe 8 or 9 feet deep here. - eight or nine. - the street's about 8 feet below us. - o.k. how long has it been like that for? - oh gosh. it's been ongoing. every time we get big rains, hurricane seasons, stuff like that, you get another 2, 3, 4 or 8 inches of mud that will work its way over here. - plymouth was evacuated though in 1995, way back in 1995? - they evacuated once in late 1995, and then 1996 and again in 1997. each time, they went back thinking that it might be o.k, and then it wasn't. then finally, i think it was april 3rd of 1997, they went out and never went back. but each time, you'd think it was

and that on a day when barclays bank is cutting over 450 staff.bank, has branded the decision unnecessary and unjustified . and they've and unjustified. and they've criticised barclays for cutting jobs at a time when the bank is making big profits . two lorry making big profits. two lorry drivers have been arrested in romania, accused of being part of a major organised crime conspiracy to smuggle migrants to the uk in the back of

and that comes as barclays bank is cutting over 450 positions. d the decision unnecessary and unjustified . and they say it unjustified. and they say it will leave people concerned about their job security and livelihoods. and they've criticised barclays for cutting jobs at a time when it's making big profits . this to lorry big profits. this to lorry drivers have been arrested in romania, accused of being part of a major organised crime conspiracy to

and that on a day when barclays bank is cutting over 450 staff. nd unjustified . and they've and unjustified. and they've criticised barclays for cutting jobs at a time when the bank is making big profits . two lorry making big profits. two lorry drivers have been arrested in romania, accused of being part of a major organised crime conspiracy to smuggle migrants to the uk in the back of lorries. nicolae toma is accused of attempting to smuggle nine migrants into the uk in 2020. vasily belkov is suspected of having dropped two migrants

and that on a day when barclays bank is cutting over 450 staff. nd unjustified . and they've and unjustified. and they've criticised barclays for cutting jobs at a time when the bank is making big profits . two lorry making big profits. two lorry drivers have been arrested in romania, accused of being part of a major organised crime conspiracy to smuggle migrants to the uk in the back of lorries. nicolae toma is accused of attempting to smuggle nine migrants into the uk in 2020. vasily belkov is suspected of

but barclays bank is cutting over 450 jobs and unite the union, which represents employees at the bank, has branded the decision unnecessary and unjustified . they say it and unjustified. they say it will leave people concerned about their job security and livelihoods. they've criticised barclays for cutting jobs at a time when it's making big profits . well, the other main profits. well, the other main story on gb news today is we can reveal that more than 3250 migrants have crossed the engush migrants have crossed the english channel over the last 11 days. that coincides with the longest run of good weather so far this year. home office figures show that 144 channel migrants crossed yes today in three small boats . today we three small boats. today we believe three small boats have crossed carrying 120 people. but the total figure is 17% down on the total figure is 17% down on the same period last year. now we had some breaking news into the newsroom today. we were told that a residential street in glasgow had to be evacuated after someone had discovered a suspected unexploded ordnan

and that comes as barclays bank is cutting over 450 positions. unite the union, which represents employees at the bank, has branded the decision unnecessary and unjustified . and they say it unjustified. and they say it will leave people concerned about their job security and livelihoods. and they've criticised barclays for cutting jobs at a time when it's making big profits . this to lorry big profits. this to lorry drivers have been arrested in romania, accused of being part of a major organised crime conspiracy to smuggle migrants into the uk in the back of lorries . nicolae into the uk in the back of lorries. nicolae toma is into the uk in the back of lorries . nicolae toma is accused lorries. nicolae toma is accused of attempting to smuggle nine migrants out of the uk in 2020. vasily buchlyvie is expected suspected rather of having dropped to migrant s he had smuggled into the uk at thurrock service station in essex in 2021. and that comes as gb news reveals that more than 3250 migrants crossed the english channelin migrants crossed the engl

and that comes as barclays bank is cutting over 450 positions.unite the union, which represents employees at the bank, has branded the decision unnecessary and unjustified . and they say it unjustified. and they say it will leave people concerned about their job security and livelihoods. and they've criticised barclays for cutting jobs at a time when it's making big profits . this to lorry big profits. this to lorry drivers have been arrested in romania, accused of being part of a major organised crime conspiracy to smuggle migrants into the uk in the back of lorries . nicolae into the uk in the back of lorries. nicolae toma is into the uk in the back of lorries . nicolae toma is accused lorries. nicolae toma is accused of attempting to smuggle nine migrants out of the uk in 2020. vasily buchlyvie is expected suspected rather of having dropped to migrant s he had smuggled into the uk at thurrock service station in essex in 2021. and that comes as gb news reveals that more than 3250 migrants crossed the english channelin migrants crossed the engli

and that on a day when barclays bank is cutting over 450 staff. unite the union, which represents the employers at the bank, has branded the decision unnecessary and unjustified . and they've and unjustified. and they've criticised barclays for cutting jobs at a time when the bank is making big profits . two lorry making big profits. two lorry drivers have been arrested in romania, accused of being part of a major organised crime conspiracy to smuggle migrants to the uk in the back of lorries. nicolae toma is accused of attempting to smuggle nine migrants into the uk in 2020. vasily belkov is suspected of having dropped two migrants he'd smuggled into the uk at a service station in 2021 and that coming as gb news reveals that more than 3250 migrants crossed the english channel in the last 11 days. and that coincides with the longest run of good weather so far this year. home office figures show 144 channel migrants crossed yesterday in three small boats and today two boats crossed carrying over 100 people. now a residential street in glasgow was c

well, and that comes as barclays bank says it's going to cut over 450 positions, unite the union, whichesents employees at the bank , has employees at the bank, has branded the decision unnecessary and unjustified. they say it's going to leave people concerned about their job security and their livelihoods, as they've criticised barclays for cutting jobs at a time when it's making big profits too. lorry drivers have been arrested in romania , have been arrested in romania, accused of being part of a major organised crime conspiracy to smuggle migrants to the uk in the back of lorries. nicolae toma is accused of attempting to smuggle nine migrants out of the uk in 2020. vasily bukovel is suspected of having dropped two migrants. he'd smuggled into the uk at thurrock service station in essex in 2021. and that comes as gb news reveals that more than 3250 migrants crossed the engush than 3250 migrants crossed the english channel in the last ten days. it coincides with the longest run of good weather. so far this year. home office figures show that 144 channel migrants cross yesterday in thr

we had barclays ceo take on investment banking and let's get the regional perspective. to present today at the barclays at depos client sentiment and more now that we're six months removed from that collapse of the silicon valley bank. with us first horizon ceo brian jordan. good to have you on. don't think we've heard from you much since the failed takeover by td, that was four months ago. how has it resonated internally? how has morale been? >> well, it's been an interesting period. we've been working very hard doing what we've done for the last 109 years. we're clearly disappointed for shareholders and as shareholders, but our consumer sentiment and a social sentiment has been very, very good, and we have continued to do as i've said what we have done for 159 years, to strengthen our communities and the places we do business by serving our customers well. >> how do you pivot from there? where are you focused strategically on growth and what's been a challenging environment overall for regional banks? >> it has been an it interesting environment for regional banks and

we deliver our entire global bank to power new possibilities for you. barclays ever since she was a little ki, all maría wanted to do was bak. i'm maría alvarez, owner of maría's cakes. and i'm axel, proud to be her state farm agent. her baking superpowers have brought sweetness to our community. i make delicious cakes to make special occasions even better. maría doesn't just bake; she also creates opportunities. small businesses like maría's, open doors for communities to thrive. support your community. support small business. >>> all right. it's time for "grade my this one is for steve weiss. john in hawaii60 shares of xpo. should he sell or continue to hold xpo? >> that's going to be an a plus on the trade. i don't think it's cheap in the absolute relative to others, like old dominion. it's exceedingly cheap. management has done a phenomenal job correcting some of the issues with the company. i think it's okay here for a hold. i would not be putting more money into giving what i believe is the economic backdrop. but great trade so far. congratulations. >> you

we deliver our entire global bank to power new possibilities for you. barclays corporate and investment bank. powering possible. ♪ explore endless design possibilities. to find your personal style. endless hardie® siding colors. textures and styles. it's possible. with james hardie™. >>> welcome back to "worldwide exchange." we have a market flash rocket labs is down at the open. it issued an anomaly outside of australia this morning with the satellite. rocket labs working with agencies as it investigates the failure of the rocket which successfully delivered 171 satellites in orbit across 37 missions shares of rocket lab down 15% right now. >>> turning to capitol hill where u.s. lawmakers have less than ten days to pass a stop gap funding measure to avert a shutdown this burden lies on the house speaker kevin mccarthy emily wilkins has more on what is at stake. >> reporter: good morning, frank. we are two weeks away from the government shutdown. there is still no clear path on how congress is going to avert it a plan backed by speaker mccarthy is looking in tro

we deliver our entire global bank to power new possibilities for you. barclayshis. we got this. we got this. life is for living. we got this. let's partner for all of it. edward jones >>> all right. we've got less than two minutes in the program and a number of stories we want to get to. the first one is lyft has unveiled a new feature that helps match women and nonbinary drivers and riders in an effort to improve safety and peace of mind during rides. so the program is called women plus connect. it's rolling out today in chicago, phoenix, and san diego, san francisco with plans to go eventually nationwide. i think this is the case of a company listening to its customers who are putting safety at a high up on their agenda >> i suppose. and the after work happy hour may be over as we know it. "the wall street journal" highlighting that more and more workers are choosing to clock out and rather than socialize at 5:00 p.m. according to consumer analytics firm after dinner down 40% and one interesting number i liked with all the new pet owners they got to get home.

we deliver our entire global bank to power new possibilities for you. barclayst bank. powering possible. ♪ is it possible to fall in love with your home... ...before you even step inside? ♪ discover the magnolia home james hardie collection. available now in siding colors, styles and textures. curated by joanna gaines. ♪ ♪ every day, businesses everywhere are asking: is it possible? with comcast business... it is. is it possible to help keep our online platform safe from cyberthreats? absolutely. can we provide health care virtually anywhere? we can help with that. is it possible to use predictive monitoring to address operations issues? we can help with that, too. with the advanced connectivity and intelligence of global secure networking from comcast business. it's not just possible. it's happening. >>> welcome back to "the exchange." markets hanging on to some green today. dow is off the high when it was up 228, but also off the negative numbers we saw. the s&p is up half a percent, and the nasdaq up about 0.8 of 1%. i want to mention shares here of this spin

barclays corporate and investment bank powering possible. >>> welcome back to "halftime."his midday word. we're setting up for a big week here. dow regained a little bit of steam throughout the course of this show. what are you most focused on this week? >> leslie, pretty noncommittal ahead of what we know are likely catalysts, the cpi report, the s&p is sitting almost directly on its 50-day average. it's more or less flatish for the month to date and pulled forward some of the weakness that you might see in september into august. the big question is, are all the other asset classes going to stay in a relatively well behaved within their ranges like the dollar, oil price, treasury yields or absorb some kind of a breakout? my take has been that absolute level of yields isn't necessarily automatically a negative up here 4.3 on the 10-year but you have to make your peace with it and make sure it's for the right reasons. 2% real yields and that's something i think could act as a restraint as we go ahead. the cpi numbers have actually been coming in relatively close to forecast

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barclays corporate and investment bank powering possible. (mom) bringing in a new roommate to save money - is that the plan? (dad) well we gotta find some way cto save. and investment bank so say hi to glen. from work. (glen) hey. that's my mom. (mom) i think i have a much better plan. we switch to myplan from verizon. we get exactly what we want and save big. all on the network we can count on. (daughter) it's a good plan (dad) that is a good plan. glen looks like we're not going to be needing you. so i'll see you at work. (son) later glen. (vo) this week. new and current customers... get a free samsung galaxy s23. plus galaxy watch and tab. all three. all on us. that's a savings of over $1800 offer ends soon. it's your verizon. >>> we're back on the half. >> ontptions traded exploded in the last few years, and it's popular with retail and institutional traders, and odte they are called, and they are contracts and become void the same day they are traded. it's so strong, the industry is getting in on this. qqqy is the first eft to trade wit

barclays corporate and investment bank powering possible. ♪ explore endless design possibilities.yles. it's possible. with james hardie™. ♪ ♪ >>> welcome back to halftime. bank stocks remains under pressure with the etf that tracked the space on pace for a second straight month of declines. you're tripping another bank position this time. >> i did. so if you recall goldman, i added to goldman in front of the ipos, in front of arm and instacart. so supersized position, taking advantage of it. and the stock was trading actually lower than where it is right now. so i thought it would be a good trade. goldman is still a good position. but after arm and what we have seen in the markets since then, particularly after instacart to go as well as was thought, i thought let me take that part of the trade off, but the trade aspect of it is over. i do like the opportunity going forward, particularly if you see a steepening of the yield curve. you can cherry pick part of the yield kcurve. that's good for banks but we're not there yet. and i don't believe, given the market action, is indicative

let's look at seagate, thinking after barclays cut the data storage stock from overweight to equal weight. investment bankved to a slower than expected recovery. barclay says it believes a full recovery is not going to happen until the first 1:45 thousand 24. seagate investors don't want to wait, stock is down 10%. investors dialing up t-mobile after the wiles company announced its first-ever dividend. shares are up to and one thirds% to and one/3% bringing the market to $162 billion. the telecom company's plan involves $750 million in quarterly dividend payouts and $15.25 billion in stock buybacks. $19 billion gift to shareholders. last month telecommunications company did layoff 5000 workers. charge point hitting a record low earlier after missing estimates for the quarter, this is the ev charging company the record a loss of $0.24 per share while analysts expected a 13 sent loss. oppenheimer cutting his price target from $27-$14. needham cutting it from 15 to 9, down 12% but as you see for the entered a picture below the price, it is off the lows of love session. tesla signing the deal to deploy 20,000

banks used to do. we have reported at bloomberg that barclays suck, -- barclays, softbank, and others are starting private will you partner with the bank to get the job done as they try to enter the private credit markets? john: on all those transactions, there was a bank involved, i feel like if you talk to any senior members of the banks, our relationships with the banks, it is as strong as it has been. there is so much more to do together and i can like every month we are finding more ways to work together to take a stickier capital base, longer duration capital base, with origination capabilities that span multiple decades at the banks and match them with our capabilities. i really think it is the early innings of us working better together. there has been lots of headlines about powell and blackstone dancing in the streets be a die think we are dancing with the banks but that is fine, that is how it goes. sonali: speaking of dancing with the banks, one bank wants to change the terms of how they dance with you. ubs. we reported they want to try to renegotiate some of the terms of their asset managemen

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we deliver our entire global bank to power new possibilities for you. barclays. powering possible. >>> welcome back to "squawk box," today's consumer stat, 444,000. that's the number of holiday hires that have been announced so far for 2023. challenger expects seasonal retail hires this year to sink to the lowest level since 2008 meantime cnbc has learned that jeff bezos' blue origin plans to replace bob smith with outgoing david lynch. he'll remain with the company until january 2nd. limp previously served as the amazon device and services chief overseeing alexa, echo and ring units, maybe the most important part, their internet satellite business and autonomous car unit returning the space tourism rocket to flight and delivering on a recently-won nasa contract for crude lunar lander a lot going on we interviewed david limp on the program, had him on about a year ago. some were surprised he left the company after such a long tenure he was considered one of the most liked, perhaps even beloved executives at the company. he's now taking this next step to join him

barclays corporate and investment bank powering possible.l rock star. rock star? what do you know about rock stars? billy idol? i mean where's the skin-tight leather? my shoes are leather. where's the unnecessary zippers? that thing! billy, rock star is just how doug feels when he uses workday. thanks, rory. i'll show you rock star! be a finance and hr rock star. workday. for a changing world. billy idol just stole your golf cart! >>> if you haven't heard the fed is kicking off its two-day meeting on rates how are investors feeling about stocks steve liesman is here has the results of our latest fed survey steve? >> good morning, david respondents to the cnbc fed survey seeing considerable uncertainty when it comes to the economy and fed policy that translates into risk for the stock market with the s&p level 4450, seeing about a 2% decline for the remainder of the year, ticking back up next year before you get healthier gains into december 2025, which is curiously when the outlook for the fed seems to clarify. for the risk-reward ratio, wha

a couple of individual stories -- barclays a stand out in terms of the upside in the banking sector.his bank listed in the u.k. upgraded by morgan stanley for the first time since 2018. prospects for that lender despite concern about the slowdown in terms of the u.k.. pound down 3/10 of a percent. we keep an eye on the benchmark 10 year in germany. yields of come in, money has gone in to the benchmark on the back of the news the german government will be reducing issuance. for the fourth quarter, you did see money coming into the back end of that curve in germany. alix: s&p off by 1%. having a hard time pegging it to a specific news point. it is really being led by tech, nasdaq 100 off by one percentage point. the problem with nasdaq 100 is the 200 day is well below the 100 day. big cap to fill on those long-term running averages. you have the thing index, big tech down by 1%. a lot of the same guys are also in s&p communication services. consumer discretionary, amazon, alpha, meta will weigh on the overall index. worst performer in that index is amazon. no reason why, but it is down

barclays corporate and investment bank powering possible. >>> good morning, and welcome back to "squawk live from the marketsite in times square. our story, thousands of uaw autoworker members on strike at three key plants after the detroit automakers failed to reach deals by a thursday night deadline. the big three facilities that are being impacted are gm's midsize truck and full size plant in missouri, ford's ranger midsize pickup and bronco plant in wayne, michigan and stellantis' jeep plant in toledo, ohio. mary barra will join us live with the talks fronts and what it could mean for the industry a few minutes away. >>> coming up in the next hour, lawmakers respond to the strikes. michigan congresswoman debbie dingell and representative tim walberg will be our guest. we've got a bit of a mixed picture. we'll flip the board. we have the dow about 106 points higher. nasdaq off about 5. s&p 500 up about 5. joining us is bob diamond, ceo of atlas merchant capital. we're trying to figure out which way is the wind blowing. which way? >> i think the biggest -- >> you're a sailor. >> the b

barclays corporate and investment bank powering possible. businesses need 5g solutions today.they choose t-mobile for business. mlb partners with t-mobile to not only enhance the fan experience, but to advance how the game is played. aaa relies on t-mobile's network to stay connected nationwide, so they can help get their members back on the road. and we're helping pano ai innovate, to stop the spread of wildfires. now's the time to see what america's largest 5g network can do for your business. . >>> bmw dropping the controversial subscription service on the car for your heated seats. you had to pay a subscription to get your seats to press the heated seat button and make it work. >> i get it for free. >> the automaker charged people in customers $18 a month for that option. a sas model. >> our apple iphone model. >> it used to be a standard feature. drivers did not take to the idea. you think? it plans to focus on paid software like assisted driving and parking. all those services could also -- >> tesla has that? >> you have to pay a monthly fee to tesla? >> you can pay for

barclays corporate and investment bank powering possible. nice footwork., corpowatching live sportsbank never used to be this easy. now you can stream all your games like it's nothing. yes! [ cheers ] yeah! woho! running up and down that field looks tough. it's a pitch. get way more into what you're into when you stream on the xfinity 10g network. >>> i think there's in the relative short-term why rates can move a lot. we have a government shutdown. going into a probable government shutdown. the worst technical environment in our lifetime for supply of bonds versus buyer bonds. china selling. russia selling. saudi arabia selling. you know, we have an economy that is still strong and inflation at 3.5% to 4% and pers persistent. our view is you are not paid enough to enter into a contract with the u.s. government at a fixed price. >> that was bill ackman yesterday at the delivering alpha conference yesterday. jo joining us to talk about rates is the head of the u.s. rate strategy. i didn't see you nodding, but i read your notes. i felt implicit nodding. ther

barclays corporate and investment bank powering possible.s your priorities are ours too. our retirement tools and advice can help you leave a legacy for the ones you love. that's the value of ownership. >>> time now for some squawk picks. e evercore's annual online travel survey says that travel demand will be stronger going into 2024, mostly driven by optimism economic expectations. bullish results for booking holdings and mixed results for expedia and airbnb. joining us with more is mark mahaney, head of internet research, we should note that airbnb, trading higher on word that hit late friday that it will join the s&p 500 this month. mark, good morning. >> good morning, mike. >> so the survey result, it's interesting, because we keep thinking maybe that the heavy demand for travel is going to wane. that it was just a little bit of a catch-up, but what does the survey tell us about what to expect for next year? >> you're right, it was a bit of a surprise. so we've run this survey for eight years. we always ask, what are your travel intenti

. >> we'll talk to the ceo of barclays, hasn't done a lot since taking on ceo. the bankin for the judge. >>> thank you, carl. thank you, sara. welcome to "the halftime report." i'm dominic chu in for scott wapner today. front and center this hour, was this week a turning point for the markets? and what's in store for investors as we head deeper into what has historically been one of the weakest months of the year. our investment committee is here to help navigate you through all of it. joining me for the hour bryn talkington, steve weiss, and here on set shanion saccocia and jason snipe as well. where we stand at noon eastern time. a mixed market overall. the dow industrials up a

barclays corporate and investment bank powering possible. >>> america's wealthy have been fwl flockingth. and this is kind of the new arm's race for the wealthy here in manhattan. more than a dozen private clubs opening up since the pandemic. and this is really a new breed of private must be ship club where the wealthy and the business leaders can network, can hold meetings, can dine, can socialize, can workout, all outside of the public high. and the privacy comes at a new higher price. here this club charge as membership fee of $200,000. and in addition to $15,000 in annual dues. if you look downtown, zero bond is a fair of mayor adams and kim kardashian, more reasonable $4,000 annual dues. but the new entry is core, they are about to move into a new 60,000 square foot space here in midtown. >> we curate people, spaces, ideas and culture. and a community of relentlessly curious unlike minded people from across the spectrum. so people can intersect with people from media, sports, fashion, finance, science, technology, design, and beyond. >> all with a lot of amenities. the new space h

appreciate it. >>> even more on the banks next hour, we will sit down with the ceo of barclays in a rareonference and we are going to talk about him and the investment bank here in the u.s. when more thing before we close out the hour. check out smoker, the worst performer right now. the drop coming after they bought hostess brands for $5.69. smuckers ceo, jim smoker, will be on with jim cramer to talk about the deal. 6:00 p.m. i do think that he has some explain to do, guys, because usually these big food makers by growth. they are looking for faster growing, more companies that are resonated with consumers right now. twinkies goes back to 1930, so it is experiencing some growth but it is experiencing growth on the back of bankruptcy, so a low bar there and it was a slowly decelerating and it makes sense for smoker, david, and that smoker buys just and a folgers, kind of old school brandon good for cash flows and good for earnings but not growth companies, which may be makes sense because it's more family controlled business. it's not like a pepsico or a hershey. >> no. no. again, there

we here for more banking executives at the barclays global financial services conference.nce in ipo markets but raising increased capital requirement and how they can hamper the access to capital markets companies. we have heard this from a lot of banks. maybe it is a little different. 2:00 p.m. tom, you were talking about the real yield on ten-year treasuries. how much does this have to do with the do with -- have to do with the deficit in the u.s.? as the deficit increases and as you have other regions move away from buying like japan, what does that do to the real yield? how much can that drive some of the gains we are seeing? tom: i get the debt and deficit discussion will be politically huge. i'm going back to jeff curry from goldman sachs who said this real yield permeates everything we do, including buying the next iphone. the real yield is different. it is back to 1994, 1984, etc. it's a whole new world. jonathan: jeff is no longer at goldman but can we give him a victory lap for his crude call. what a forecast. we are up here in the 90's. tom: each of these guys i

barclays to let. but that's not all and forgive me a wry smile, but after my recent travails with the natwest bankingt branch in the last couple of years has become an undertakers now of the big four banks. the last one left in witham high street is lloyds. lloyds is still here, but oh dear , we're still here, but oh dear, we're closing this branch . soon and closing this branch. soon and that'll be it. all four big banks will have gone from this high street. and this is typical of what's happening all around the country . the country. >> i say pretty you know, that was witham, but it could have been almost anywhere, couldn't it? >> so and i spoke to her. i spoke to a lady who ran a butcher shop. and even though the halifax is open, they won't give coins or take coins. and her customers pay in tenners when they're buying sausages or bacon is this just bacon or whatever. is this just i mean, this a market i mean, this is a market town. it's for centuries. is it's been here for centuries. is it now in terminal decline? it just now in terminal decline? >> definitely mean , >> no, definitely not. i mean,

company says at barclay's financial conference that credit capital markets performing really well right now. part of several banks this morning that have had constructive comments about either markets or the consumer. we're back in a minute. ♪♪ we're not writers, but we help you shape your financial story. ♪♪ we're not an airline, but our network connects global businesses across nearly 160 markets. ♪♪ we're not a startup, but our innovation labs use new technologies to help keep your information secure. ♪♪ we're not architects, but we help build stronger communities. ♪♪ we're not just any bank. we are citi. ♪♪ ever since she was a little ki, all maría wanted to do was bak. i'm maría alvarez, owner of maría's cakes. and i'm axel, proud to be her state farm agent. her baking superpowers have brought sweetness to our community. i make delicious cakes to make special occasions even better. maría doesn't just bake; she also creates opportunities. small businesses like maría's, open doors for communities to thrive. support your community. support small business. you founded your kayak company because you love the ocea

barclays to let. but that's not all and forgive me a wry smile, but after my recent travails with the natwest bankingt branch in the last couple of years has become an undertakers now of the big four banks. the last one left in witham high street is lloyds. lloyds is still here, but oh dear , we're still here, but oh dear, we're closing this branch . soon and closing this branch. soon and that'll be it. all four big banks will have gone from this high street. and this is typical of what's happening all around the country . the country. >> i say pretty you know, that was witham, but it could have been almost anywhere, couldn't it? >> so and i spoke to her. i spoke to a lady who ran a butcher shop. and even though the halifax is open, they won't give coins or take coins. and her customers pay in tenners when they're buying sausages or bacon is this just bacon or whatever. is this just i mean, this market town. i mean, this is a market town. it's for centuries. is it's been here for centuries. is it in terminal decline? it just now in terminal decline? >> definitely i mean , >> no, definitely not. i mea

it's not just deutsche bank, which they increased their price target to $85 and have a buy on this name. barclay'swell. the reason being that many of these analyst sell side believe memory prices are starting to upswing. we're seeing that digitimes, a popular asian publication, they said even today that you're starting to see the prices increase. that will benefit companies like micron. the second thing is samsung is a major foundry. they have recently cut production because they want to get rid of excess inventory. when they cut production, that helps prices, supply and demand. and also you have the demand for a.i. servers. a.i. servers are going to need more of this high band width memory that falls into the dram category. that should be a strength in demand for a company like micron. a lot of viewers when they watch, they hear all these acronyms with semiconductors and it gets really confusing. hopefully we can bring up the full screen in terms of the explanation. you have dram, dynamic memory. think of it as used for any type of apps or algorithms. the moment power is shut off, it's no longer

financial services companies have said at the barclays conference in terms of better net interest income, better demand. oh, by the way, better consumer deman from bank of america today. so no change in my strategy, but i like the diversification. it's healthier than the big seven leaders lead the way. >> you've made a big move as well in your book that we're going to get to in just a minute, so don't do it yet. but, joe, to some it's not so much what the fed does from here. it's what they've already done, and the impact that is yet to have on the economy and then eventually the stock market. that's what wolf is talking about. wolf has skewed negative for a while. put that as a caveat. they say the next leg down is to be driven by the lagging impact of past rate hikes, the old lag effect of what chair powell has talked about, what many have talked about since the fed has done this 525 basis points in 14, 15 months or so, 11 hikes in all. and what it's all still going to mean, joe. >> well, i think, first of all, that's speaking exactly toward what energy prices will do to the consumer over the coming months, and that is it's going to weaken spending.

. >>> the fed and the bank of england may be keeping rates steady but with high inflation in place, u.s. consumers are feeling the squeeze. barclay'ss retailers moving down, says headwinds range from the savings draw downto student loan repayment. ubs says if $10 billion shifts away from soft goods to repay loans, it would mean a 2% overall headwind on industry sales. then there's piper finding student loan survey, 34% plan to cut back on grocery once repayments resume. and speaking of grocery, td cowen held a summit with package food, walking away with one theme, forecasts for next 12 months need to fall. the analyst joins us. fascinating discussion where you say, not a lot of conviction as to when or how. >> yeah, that's right. and i think the part of the issue is when you try to break down reasons for why volumes have been weak and why sales are decelerating so sharply, you come up with five different reasons. delayed impact of elasticity, reduced snap funding, a long list. the problem is you can't really focus on one big reason for it that's transitory. as a result, i think that it's too premature to assume that food -- that co

banks on u.s. economy and on the u.s. consumer. here's what barclay's us yesterday about it. >> what you're seeing there is what you see with the economy, which is a progression to a soft landing, spending continues to be robust in the united states, partly because employment is robust in the united states, and then the delinquency trends are normalizing as the covid stimulus has worn off. it's very much in line with what is otherwise a healing economy with a very low rate of unemployment and good consumer spending growth. >> similar message echoed by the regional banks. we've been talking to the ceos of first horizon also predict a soft landing, don't see a recession among the consumer. and people here on this show. >> i think people are concerned about the trajectory of the economy. my personal view is that we are going to have a soft landing, that the economy is slowing down. i don't think it will be particularly deep or long. >> lot of soft landing talk, carl, and if you look at the data, so far, there's some weakening and we're watching it and now

bank of america go from one times book to 1.4 times book, 40% like that. maria: did you see the jamie dimon conference speech, he went to the barclay's financial services conferencemaking a huge mistake to believe this certain booming economy narrative. >> he was wrong last year when he said lots of clouds on the horizon. we're not in a recession now. why should we believe jamie dimon today. maria: ryan, good to see you. quick break and a culture of corruption, that's how house speaker kevin mccarthy described what's going on in joe biden's office. he made it official yesterday, directing congress to a formal inquiry into impeaching president biden a. wisconsin congressman tom tiffany is here to tell us what that inquiry gets the republicans. stay with us. ♪ radio's on, you make me want to roll my windows down an cruise. ♪ back road, stop sign ♪ my name is josh sanabria and i am the owner at isla veterinary boutique hospital. i was 5...6 years of age and i knew i was going to be a vet. once alexandra called me to let me know that bank of america had approved my loan... it was important to me. we not only just provide the financing piece, we do everything that we

barclays. we are waiting for the president to speak about the strike this hour. when he does speak, we'll bring it to you live. >>> why yesterday's market reaction to the european central bank interest rate decision is a prelude to what could be ahead here at home for the fed. >>> plus, oil, highest since november this morning. the impact for consumers at the pump and the fed's inflation fight. >>> the great unbundling of disney. is bob iger getting ready to sell abc and is it the right move? all that and more when "squawk on the street" comes right back. down almost 200 points now on the dow. active investing and disciplined risk management are needed most. drawing on deep expertise across the world's public and private markets in pursuit of long-term returns... pgim. our investments shape tomorrow today. (birds chirping) go. and go and go and go. ( ♪ ♪ ) but what if you... stop? you work hard, it's time for a bank that'll work hard for you. everbank brings security and a guarantee that you'll earn a yield in the top 5% of competitive accounts. going, that's what got you where you want to be. we're the partners for your next move. everbank. advantage, you. >>> welcome back

bank at random on the 2.2%. albia made, earlier on today, was down 20% from its peak. bouncing back today, 2.38%, 747 despite the fact we have also seen that negative note coming from barclaysnd the whole sector. let's talk about the rest of the day and tomorrow. we will continue to watch what is happening is a markets digest all of this. tomorrow we will get sales and revenue, we have novartis vote on the sand awes spin off, what is happening in switzerland, the russia rate decision, then you have an eu finance ministers meeting taking place. i think maria tadeo a fantastic interview lined up there. it is going to be the french finance minister and he is going to be talking to us i think probably around 3:00 p.m. u.k. time tomorrow. we will be looking forward to that. today we also had u.k. data between need to digest as well. the u.k. markets showing even more last month and even bigger response last month to the interest rate rises. we have seen. we basically have seen levels in activity that we have not seen since the early stages of the pandemic. that was fairly brutal. this is according to the institution of charan surveyors, doing more with insight into the data. mee