matt: let's bring in david konrad, covers the large bank equities for the firm. the idea of resiliency. would you agree with that? david: i think is a true. thank you for having me on the show. we see that more of a market gap in the universal model. part of that benefit we see a lot of trading revenue flowing through. citigroup was up 14% year-over-year off of that last year. earnings are starting to show. i would point out the deposit side which is a big heights button with investors. so deteriorating. we are seeing shifts on earnings. the second derivative, the rate of deterioration is slowing. that created a beat in that interest income for all four banks that reported today. matt: are they having to pay more for deposits? they are charging more for loans. after svb, look like there's going to be a big competition for deposits. they're going to go to big wall street banks. are they having to increase interest rates? david: they are. my point is it is still a big headwind. they did come in lower than what we were expecting. they are ramping of. they were up pro