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14% plus, another big voice weighs in on a big threat for the market see what bank of america's brian moynihan is saying and the call of the day, one analyst is saying the 142% one-year run for this stock is just the beginning "the halftime report" with scott wapner begins right now. >> welcome it is good to have you with us on this wednesday and our investment committee at the desk today, jim lebenthal, the brothers najarian are here so is meagan shoe, the senior investment strategist at wilmington trust with us from d.c., the ceo of farr, miller and washington, and our economics reporter, steve liesman. you can see the markets making another reversal, down now is up 151. the s&p, nasdaq briefly went negative, now they're positive too. investors simply trying to gauge what the weak enshrinemeest adps for the economy, what, if anything, the fed may be prepared to do about it. pete, you've got the best two-day gain in five months. >> yeah, pretty impressive >> is this all about expectations and hopes that the fed is going to cut rates? >> i don't know if it's all but i would say a great portion

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brian moynihan talking to our maria bartiromo. the guy who runs bank of america, one of largest financial institutions on the planet. talking about better than 10-year economic recovery. you know the old market salt, recoveries don't die of old agings they're murdered. black swan moments, oil crisis he alluded, undid the '60s momentum was evaporated with the '73 oil embargo, opec, all of that. other things bet in the way we don't see now, that could disrupt all of this. what he is talking about an underlying strong economy without much inflation. that is the trigger of jerome powell's remarks earlier today in chicago. when he was looking at a prospect of a trade fight that could turn into an outright trade war. tariffs he coupled with those on china, those on mexico, that could slow things down markedly, produce possibly a reversal on part of federal reserve, not only stop continuing to raise rates, but cut them. maybe as soon at the end of next month. maybe another cut after that. so we've seen about 10 rate hikes through this pr

economy on solid footing except for leverage loans, according to brian moynihan.k has dominated the sector for a decade. he says things are generally solid but leveraged loans could cause a major stumbling block. >> it will be ugly for those companies and ugly if the economy slows down and they have to restructure the debt. it will be the usual carnage that goes on. is,issue that -- the issue have the terms gotten to favorable to the borrower? >> venezuela has reportedly defaulted on an agreement with deutsche bank. the contract is worth $750 million. the deal was opened in 2016 and settled early due to missed interest payments. archie owner of verse wants more stash -- versace wants more stores and fast. it plans to open dozens of out let's each year with the goal of doubling annual sales. more than half of their existing stores are in asia, with 40 in china alone. that is your bloomberg business flash. matt: thanks very much. minutes away from the open. up next, we will take a look at your stocks to watch this morning, including norsk hydro, after the aluminum p

jessica: bank of america boss brian moynihan is raising the alarm for a potential trouble spot of theeconomy. he says things are solid but leveraged loans could be a major issue if the economy slows. investors are steadily weakening and the loan market looks like the mortgage industry ahead of the subprime crisis. bank is cutting its forecast for the global economy, citing trade war and rising financial strain and the unexpectedly sharp slowdown. slowest calendar growth in 2016. global trade is expected to grow 2.6% this year. this is bolstering the military attempt to stay in power. seatsmy coalition on 254 with the house of parliament. that makes former army general the favorite to return as prime minister. day onnews 24 hours a air and on tictoc on twitter powered by more than 2700 journalists and analysts in more than 120 countries. i'm jessica summers. this is bloomberg. let's take a look at how the asian stock markets are looking heading into the open. we have the nikkei futures pointing higher right now. well -- yeah. nikkei futures pointing higher. kospi futures as well. getti

and let me explain why brian moynihan was on television this week explaining he does not see any fedat from what bank ceos are saying, a local bank here in washington, federal, on your show last week saying as well, where why are bank executives so comfortable with this economy and where the fed is at right now. and wall street, the smart people on wall street, all believe that we're going to have two to three fed rate cuts this year the spread between that is where money will be made and lost this year in the u.s. stock market. >> so your expectation is for no rate cuts then, correct? >> well, why would bank ceos see more of the economy than you or i could day to day, be thinking that, as where wall street is pushing towards a very dovish stance i would argue that wall street wants to be dovish because it allows them to be bullish on stocks if the fed doesn't cut rates, it gives them less ground to be bullish on stocks. that's -- i think personally that's what is going on wall street now, versus, you know, jpmorgan's -- jamie dimon and brian moynihan and smaller banks are saying the

. ♪ matt: that was bank of america ceo brian moynihan warning about potential carnage in the leverage. let's talk more about the barricade with our guest. viktor is still with us. of course, we heard also from pimco the downside risk are at an all-time high, as well as robert kaplan making some -- what did -- anna: he said corporate debt was higher than the peak in 2008. matt: there you go. do you agree? that we should all be running and screaming for cover. viktor: not this year. i see that because what we are going to see this year's corporate deleveraging. it always happens after a market shock or the economy weaks. they have no insight into what's going on than you and i, so they get defensive when markets are weak and the economy's weak. we're seeing it this year. corp. --e berated triple berated corporation -- $2.5 trillion triple berated death in the market, a quarter of which is bbb minus, on the cusp of down investment grade. if that were to happen in an economic slowdown, the high-yield market would be able to absorb it just wouldn't to be able to absorb it. it's not going t

brian moynihan says u.s. economy is on solid footing except for one potential trouble spot, leverage loans quote, it will be ugly for those economies if the economy slows down and they can't carry the debt and then restructure it and the usual carnage goes on. do you think he's right? >> i think if you think about banks, banks like b of a and citibank are lending and five times over collateral. you have to make sure if you're lending 100 million companies making quite a bit more than that on all this new debt that is coming out on the bdc that jon talked about best case, 1.5 or 2 times. you're taking a lot more credit risk and that's what he's worried about. because it's loans that b of a would not make so, right b of a will make those loans. that's the only reason bdcs are and they're charging a lot more. >> so, we had christopher wailen on who said the following. i want to listen to that and react to that. >> high yield spreads are going up and in the nonbank sector and unicorns like tesla that are assumed

it's come up more and more the guy whose bank dominates the market, brian moynihan of all people, is warning about it this week if anybody knows, he knows druckenmiller, whalen, powell, yellen >> they talk about it. but they're not doing very much about it >> i'm saying but if the economy continues to act swirquirrely ad worsens, those calls and cries are going to grow louder the risk is that you -- by these tariffs and the trade that you push the economy into a breaking point that starts to ripple into other areas that people are warning about that we're not focused on enough, perhaps >> i think the fed is focused on it they've talked a lot about it. it's in their new financial stability report they talked it yesterday with john williams, the new york fed president. i don't hear them exercised about it, scott. but i have one more question i don't know what it's telling me that the market or investors and traders seem comfortable going into this weekend. you're the one that just said we could wake up monday morning and those mexican tariffs are going to be in place >> and you know wh