erlichman he says to john erlichman, you're you're a greenie and you're in with these guys. i will sign with you guys produce with democrats if it's got scoop jackson's office does it i will not muskie muskie ed muskie. maine has anything to do with it. i'm i'm off. so erlichman, this is the triumph of the seattle people erlichman and scoop jackson's teams get together and they they cobble nepa, national, environmental policy act. if you don't about nepa, you're living it. this lie wouldn't have been built without nepa. nepa signed by nixon first 1970, and sam clemente, california, at the western house before the football games. come on. shocking press gaggle following him. he nepa which makes environmental statements for construction mandatory real estate commercial development blah blah blah blah blah blah. what does that do, guys? when sign nepa it guarantees law to be a boom industry. i asked my students at rice university if they're not majoring in environment to go work for the sierra club or audubon. so a lot of times they're getting hired by exxonmobil to be an envir

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i'm sonali basak jon erlichman.l taubman says any slogan is an opportunity to pick up new talent. that has helped him in the past decade. here's my interview with him from earlier today. paul: we see tremendous opportunity to grow. this is a conducive environment to grow. you need to see m&a slow down in order to hire the best m&a bankers. that is the ultimate paradox. the reason for that is because the switching costs are much lower when dealing with a low velocity environment. trying to get a best in class m&a banker to leave in the midst of an m&a bull run when there loaded with mandates, the costs to extract themselves, they leave their clients in the lurch. we are advantage of the fact that even though the environment is challenging in the near term, we know it is going to come back. we want to continue to press forward and grow the franchise. sonali: how fast do you actually expect acquisitions to be coming back to the market? paul: the pace of activity and dialogue is picking up. we are looking at levels toda

i am jon erlichman with sonali basak. are tracking regional banks. regional lenders being demanded to shore up liquidity. the fed issuing warnings to the likes of mmt and fifth third according to people with knowledge of the matter. it the focus is on institutions with assets between $100 million and $250 billion. let's talk about the balance sheet concerns and how the regulatory landscape is changing as a result. sally: these warnings, mid heightened scrutiny about banks -- in the aftermath of silicon valley bank's collapse and the autopsy of what happened, the federal reserve found shortcomings in its own processes. regulators are watching closely from this category 4 bank which includes banks like citizens, m&t, fifth third to make sure they have adequate liquidity planning to make sure they are up to snuff, to make sure they have access to things like the fed discount window, a funding mechanism to help manage liquidity. it is also that the fed and regulators do not get caught having missed trouble brewing again. sona

for jon erlichman, i matt miller.fed meeting in late july, along with katie, and there were public comments made from the f.o.c. members.

i'm jon erlichman. welcome to bloomberg markets. and i'm matt miller. let's take a quick look at what's going on in the markets at this hour. the s&p 500 is down 8/10 of 1%, 4454 is the level there. and there are no industry groups gaining on the s&p. they're all in the red after minneapolis fed president neel kashkari said inflation is still too high. you can see the ten year yield right now. really unchanged at just about 424. spot 1933. the bloomberg dollar index gaining strength again today, although really it's also little changed at 1238, up only 4/100 of 1%. and crude is down another dollar 91. so crude wti back down to almost $80 a barrel at $80.60. john. and that's certainly weighing on the canadian stock market with energy, with such a big subgroup component here. financials is well under pressure in canada and we're seeing that in the us indices. matt mean, beyond just figuring out the story on rates and inflation from here, fitch raising some fresh concerns around the banking sector within the dow. you've got jp morgan, for example, as one o

jon erlichman with vonnie quinn. we are tracking shares of canadian bank cibc.ressure after profit fell short of estimates in the latest order. just like with some u.s. banks, a shaky office market is potentially eating into performance as well. let's get more perspective from mark narron, senior director at fitch ratings. great to have you with us. your reaction to a bank like this setting aside more money for potentially bad loans? mark: thanks for having me. on average, this was one of the weakest quarters for all of the large canadian banks since really 2020. we are seeing this underperformance before the economy has absorbed the full impact of rate hikes. that said, banks are in a good position, including cibc, from a capital, liquidity, and loan quality perspective. not only that, signs that the pressures on earnings are stabilizing, even if they are not going away anytime soon. jon: i think one of the challenges within the banking sector is figure out where the potential source spots are with the regional banks. there's been a lot of focus on what is happ

jon: i am jon erlichman and welcome to bloomberg markets. matt: i am matt miller.00 falling, off about 1/10 of a percent -- 0.1%. over the last two weeks, we have seen a drop of 2.5%. right

for jon erlichman, i am matt miller, this is bloomberg. ♪ things like changing tax rates or filing returnsut of stocks and back into bonds. live a bloomberg headquarters, i'm romaine bostick. katie: and i katie greifeld. it is a much different dynamic than what we're looking at 24 hours ago. an s&p 500 off 0.8%. had been down off 1% but clearly deeply in the red. nasdaq 100 the tech is taking the brunt of the selling pressure. a bid into bonds. the 10-year above 4%. it was below that earlier and curre

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he makes a deal with erlichman. he says you are a grainy. will sign what you guys produce democrats. it is got scoop jackson office does it. has anything to do with it i am off. this is the triumph of the seattle people. the teams get together they cobbled together national environmental policy act. if you don't know you are t limited. the slower rate would not have been built without it. generate first 1978 san clemente california at the western white house before the football gameba comes on. shocking that following him. the signs which makes environmental impactt statements for construction mandatory real estate commercial development. what is that due guys? it guarantees environmental law to be a boom industry. to work in a serra club. electives getting higher the environmentalist you make environmental impact statements. it creates environmental law which will lead us tole where we the fourth wave is coming with climate change. nixon decides to split the difference. naked a day off to teach people about earth. he plants a tree on the wh

jon: this is bloomberg markets, i am jon erlichman with sonali basak.pollo shares sitting right now at a record high. apollo recording a record profit as it continues to focus on areas such as credit and insurance. sonali: absolutely. adjoining is to discuss that are allison mcnealy and cameron. allison, you not only have a record high for the apollo shares, you have the minting of more than $1 billion in profit. what does this mean for the path forward for apollo? when you hit a record, the pressure is up to hit another one. allison: the path forward is credit. private equity has been going through a bit of a tough time right now, but with higher interest rates, there is a ton of investor demand for private credit, which is something that apollo specializes in. sonali: a couple of days ago, you had written a profile of who took over apollo and had been known to be changing apollo's image from a feared asset manager to your friendly neighborhood asset manager. how much is that working for them and is it true? allison: based on the stock performance, i w