tom: jim bianco with bianco research, and brian wieser with us as well.banking earnings and the lack thereof. really of great interest, the oil dynamic with the major banks. stay with us. ♪ tom: welcome on the day of jpmorgan earnings. francine lacqua with a jamie dimon quote. weaker euro, stronger dollar. crude, 44 point 30. dollar crew dynamics playing out there. i put them in the forex report this morning. francine? thecine: looking at pre-trading banks, they are gaining. gaining, jpmorgan, for now. this is what we heard from jamie dimon. he talked about increasing capital return. we also heard about compensation. bonuses,a lot on these and a lot of the european banks have been cutting bonuses significantly. jpmorgan cutting bonuses significantly, 5%. this from jamie dimon -- francine: michael moore is in the house. when you look at this report, first of all, pretrade shares were up. control, and he is returning to shareholders. thing that is interesting is the divergence in the credit stories. on one hand you have oil and gas , a 530 million dollar pr

and jim bianco is president of bianco research. good to see you both. >> they admit growth and activity has appeared to have slowed. do you suggest that they wait on another fed cycle to raise the rates here? >> yeah, i don't think the fed is going to be in any hurry to raise rates because they're never going to have to well it back. once they go forward, they'll have to keep going forward. i don't see them racing into june. there's just too much contradictory information coming out, nothing that's actually pushing them to have to react. now, it's data-driven, things can change. we can have a lot of action between now and june but i see them in no hurry. >> jim do you see them with the british votes that the fed would raise rates ahead of that? >> conceptually, no, i do not.

good morning to jim bianco, my guest today. jim, when i consider japan, i look out and i see a country whose stock market has not done what they thought it would do given the stimulus. they take rates negative, still seems to deteriorate, let's talk japan. >> you know, japan is an interesting case. they went to negative interest rates on january 29th, almost nothing that they expected to happen from it has. there's currency strengthen, it was to weaken. markets were supposed to soar, they did for a while but have fallen back. the issue is negative rates. sidney homer wrote a book -- >> we all have a copy. >> he traced rates back to the egypti egyptians. you will not find negative rates in that book. this is new. we had negative rates here and

with us is jim bianco, founder of bianco research in chicago.hy are people still buying and negative yielding debt -- buying negative yielding debt? such a new thing and we are trying to get our arms around what it means. only two years ago that we ever saw in the history of man negative interest rates. we are still trying to figure out what it means. while we appear to be acting irrational, it is part of the learning curve of this new environment we are in. david: how long do you think this will go on? jim: initially, most investors thought this was a gimmick come a one off, it would not last long. , the bank of japan went t negative interest rates -- went to negative interest rates. you add all that up come investors had this might be a round -- around for a long time. that's when we saw an subtleness about negative interest rates as people try to come to grips with what it means. lisa: german 10 year yields on weaker than expected german manufacturing data. why aren't more german and european investors humming to the u.s. and buying treasurie

leslie van houghton was 19 was years old when she participated in the murders of the low biancos in 1969. 1 she was convicted of firstf degree murder and sentenced tond life in prison and since theninh she's been denied parole 1919 times. ti her lawyer says his client was stunned and numb when she heard that she might be paroled.le five is lope full that i california governor jerry jer brown will be sympathetic to van houghton. >> this governor has been courageous.cour he's changed the parole systemoe before he came in office, the te parole system did not workot inmates had to be released through the courts. crt and what he's done has worked. >> if her parole is approvedpp by an advisory board governor gr brown will have just 30 days day to give his approval.pprol. meanwhile van houghton's lawyer says his client has been denied times because of herti association with charles manatio son but people should considerle all the good she's done during her time in prison. in as for the victim's family low bianco's son cannot agree withah the parole ruling and his ring n father will "never be pa

leslie van how the vw 10 more than four decades dec after she was convicted of the killing of lino low biancois wife rose mary. my. the governor will have the wil final say. fina >> time now is 4:41. 4 let's take a look at our o realtime news tracker to seeer o what stories you're talkinge t about on social media thist morning and for that we sayon good morning to holly morris.an hey, holly.ol >> hey, whiz, good morning toiz you and everyone out there.ev first up oner this friday morning, a chimpanzee's daringsa escape from a japanese zoo. cha-cha the chimp was missing for two hours before zooefe keepers spotted him atop a residential power line.owerin luckily they were able toe sedate him and return himetn him safely. back here in the u.s. for the.st first time in its history the te citadel is considering makingidn a change to their longstandingin uniform requirement.iform re this after a request from an incoming muslim student that stt she be allowed to wear a a hijab. a new innovation for foreignor travel a t-shirt imprinteded with symbols for basic necessities like foods like foo transpor

juanfra/cont.vo --se llama "hello kitty bistro bianco" y desde el men, as como los platillos estn diseÑadosugar y hasta los platos y tazas estn basados en la gatita, propiedad de la compaÑa "sanrio". anchor gracias por acompanarnos, recuerden que cada hora tendremos resmenes informativos.. anchor y los esperamos con ms detalles de las noticias en su noticiero telemundo 48 a las diez de la maÑana.. hasta entonces! --- comenzando "un nuevo dÍa" que es mejor. ( ♪ mÚsica♪) >>> hispanos repudian evento de trump, mientras el magnate arremete contra el sistema electoral estadounidense >>> ex funcionario de la fifa se declara culpable de sobornos >>> Órale >>> gael garcÍa, asegura no tenerle miedo a la violencia de mÉxico >>> vamos con la persona

rates, i am surprised they do anything, because i believe that the markets is in charge, and jim bianco the fed fund futures which is really gone way beyond the callf of duty in terms of how they have changed the philosophy of central banking in general. i read the story, and hear smart people allude ing ing to the fe future, and alluding to meetings down the road, and talk about the notion that the markets always give you the best answers. i agree with that, but the fed fund futures is a different animal, and what we talk about the markets polling better, and variety of measures, that is why we do the spots on the vetting sites where the actual money is used to predict the outcomes of the primaries and elections is polling, and yes, and it is true, but it depends how realtime you are. if you are looking down the road in drawing conclusions, there are bad conclusions even in the day when the policy was normal, and the rates were market driven and always the next meet iing tt you put the highest credibility and the outcomes demonstrated by the action of the fed fund futures, but all of i

good morning to jim bianco, my guest today.out and i see a country whose stock market has not done what they thought it would do given the stimulus. they take rates negative, still seems to deteriorate, let's talk japan. >> you know, japan is an interesting case. they went to negative interest rates on january 29th, almost nothing that they expected to happen from it has. there's currency strengthen, it was to weaken. markets were supposed to soar, they did for a while but have fallen back. the issue is negative rates. sidney homer wrote a book -- >> we all have a copy. >> he traced rates back to the egypti egyptians. you will not find negative rates in that book. this is new. we had negative rates here and there, but this is new. nobody understands it. nobody knows where go with this. it's confusing everybody right now as far as the meaning and what i'm supposed to do. >> it's not confusing the people. the people are buying safes in japan. they can't keep safes in stock. they need bigger mattresses. >> the 10,000 yen note, the