brian moynihan doesn't fear any competitors. n interview with bloomberg, he says the bank of america has an advantage because of scale. brian: so far, so good and we will see how it plays out. we've got the rest of the quarter and year to finish. jimmy and the team under tom's leadership have done a great job and matt at investment banking and corporate bank aside, they've done a great job. we've had three record quarters in 2020 and had strong trading in 2020 but you have to step back and think about what does that really do? what that represents his clients were able to raise capital and position themselves through this crisis in ways that were pretty remarkable. people needed capital to build a bridge to the other side of the crisis and were able to raise that and we were able to help them do it. that's pretty amazing. i think it goes to show you in the u.s. especially, the resiliency of the economy and capital market is driven by investor capital. it is unique on a worldwide basis. david: look out over the horizon a little bi

coming up, brian moynihan. that is next.his is bloomberg. ♪ anna: welcome back to the european market open, 7:23 in london. let's talk about the battle between value and growth we have seen in these markets of late. our guest joins us. catherine, i'm thinking about these because we are approaching the fed, thinking about treasury yields and where they are at this point. what are the sectors you are looking to increase exposure to right now even -- a given the pivot we have seen in markets in recent months? >> i think generally, financial markets continue to find themselves in a tug-of-war between favorable macroeconomic conditions. we expect the global economic recovery to pick up speed and the second or third quarter. on the other hand, central banks and especially the federal reserve have to keep tapering -- at bay. it is moderately rising yields and you mentioned the value in growth stocks already. we think is environment -- it is an environment favorable for value stocks for the time being. mark: what is your best way of

it has completely reformed itself, completely changed under the leadership of brian moynihan.he stock trades at a discount to the industry leader, the stalwart, jpmorgan chase. we don't think it should trade as much of a discount to that company, and as it narrows that gap, outperformance is what we should see over the next 12-24 months as the u.s. economy comes roaring bank. bank of america gets 90% of its revenue, and i think you'll see that show up. maria: it's also instituting a lot of technology there as well. gerard, it's great to have you this weekend, thanks so much. >> you're welcome, maria. thank you. maria: gerard cassidy from rbc capital markets. president biden signing his $1.9 trillion covid relief bill into law without any republican support. support. we'll get reaction from support. we'll get reaction from support. we'll get reaction from ♪ ♪ ♪ support. we'll get reaction from ♪ ♪ ♪ deposit, plan and pay with easy tools from chase. simplicity feels good. chase. make more of what's yours. seeing blood when you brush or floss can be a sign of early gum damage. ne

paul: that is the bank of america ceo brian moynihan.ds of women rally in cities across australia, anchored of the government's handling of rape allegations in the parliament house. this is bloomberg. ♪ paul: a look ahead for what is on the agenda for today. the rba will release the minutes from its march meeting. we'll bring you the top lines from that. ubs says it will pay for top talent to rebuild its team in australia following a poaching spree from rivals. news corp. says it has reached a three-year agreement with facebook to provide access to news and information through the facebook news product. shery: thousands of women rally in cities across australia monday, anchored by the government's handling of rape allegations in parliament house. the issue had dented the prime minister's policy. -- prime minister's popularity. we continue to see this growing backlash against prime minister morrison. what is the latest? >> it is great to be with you. what has been happening in the streets these past 24 hours can only be described as polit

brian moynihan of bank of america and. ray dalio of bridgewater.

tune in for our exclusive interview with brian moynihan, bank of america chairman and ceo , monday, 12. this is bloomberg. ♪ alix: seeking alternatives. despite the fact we are at 1.63% on the 10 year, the hunt for yield is still on. more investors are getting driven into the private markets. bloomberg's sonali basak is here to break it down step-by-step, what that means and what the profile has been. sonali: you have an industry right now that's just above $10 trillion in asset management. that is just 1/3 of the market cap of the s&p 500, but it has more than doubled since 2010. you have it on track to more than double once again. so you have seen massive growth in this industry. institutional investors giving money to money managers to get into private equity, private debt, direct lending, and just to buy some real estate. if you look under the hood, you have private equity really leading the way. we expect this market to be running at more than 15% growth in assets for the next five years. when you look at private debt, it is similar, about 11% growth year-over-year for the next fi

brian moynihan, bank of america, look for that at the 12:00 hour. westin with that conversation. this is bloomberg. ♪ want to save hundreds on your wireless bill? with xfinity mobile, you can. how about saving hundreds on the new samsung galaxy s21 ultra 5g? you can do that too. all on the most reliable network? sure thing! and with fast, nationwide 5g included - at no extra cost? we've got you covered. so join the carrier rated #1 in customer satisfaction... ...and learn how much you can save at xfinitymobile.com/mysavings. (announcer) back pain hurts. you can spend thousands and still not get relief. now there's aerotrainer by golo. you can stretch and strengthen your core, relieve back pain, and tone your entire body. (man) and you're stretching your lower back on there. there is no better feeling. (announcer) do planks for maximum core and total body conditioning. (woman) aerotrainer makes me want to work out. look at me. it works, 100%. (announcer) find out more at aerotrainer.com. that's aerotrainer.com. ♪ jonathan: chairman powell two days aw

coming up on monday, an exclusive interview with brian moynihan, bank of america chairman and ceo.is a 12:30 in new york. this is bloomberg. alix: t-mobile shares slightly higher today as the company provided guidance on the impact of its free cash flow and buybacks and investor day yesterday. bigger savings and the sprint merger. raising cash flow targets, dangling as much a 60 billion dollars worth of stock buybacks in the coming years. joining us is the ceo, mike sievert. good to have you on the program. one thing that was missing in the forecast was your wireless subscriber forecast. can you shed some light on that for me? mike: we see on growing growth. -- we see ongoing growth. i communicated our aspiration to lead this marketing growth, not just in subscribers but in service revenue. what you have seen demonstrated this week is the value of our superior network assets. we saw at&t and verizon spent $80 billion trying to catch up with what t-mobile already has and still falling short. we have the opportunity to be the only company in the history of this industry ever to be ab

later, a year on from lockdowns beginning around the world, bank of america ceo brian moynihan joinsof the anniversary of the shutdown. don't miss that conversation at 4:30 p.m. london time. next, as the fed tops the field, janet yellen says inflation risks remain small for the u.s.. we will discuss that next. this is bloomberg. ♪ >> is there a risk of inflation? i think there is a small risk, and i think it is manageable. i don't think it is a significant risk and if it materializes, we will certainly monitor for it, but we have tools to address it. >> the economy needs a lot of energy, but if you put too much water in the bathtub, it starts to overflow and as i look at this bill, we are just trying to pour too much water in. anna: that was u.s. treasury secretary janet yellen and one of her predecessors larry summers on the inflation debate. mark, these two haven't seen i tie on the $1.9 trillion stimulus package for some time. the $1.9 trillion is not the end of this because we look to an infrastructure package to come. there is further water to be added to the bathtub, even if it