i concur goldman will do well typically in a trading environment.at would probably be the next purchase if we decided to go overweight in the financial space, which we haven't done i think black stone is more exciting frankly because of the matriculation of retail investors into private space as public markets continue to have difficulty black stone has been incredibly successful raising money in that space with jonathan gray, jim dowling, the great folks at that company that know how to play the market perhaps better than anybody. >> weiss, goldman and wells? b of a >> yeah. look, i knew we were in for a tough ride with banks, said it before, because the ipo calendar doesn't exist, private do, ipo is where they make a lot of their money. i would tell you that every interaction i have with the banks i come back to goldman having the deepest bench, being the best bank out there, period, best risk managers, the least you see now since solomon took over in terms of headlines versus jpmorgan. >> but you're negative on the market, are you selling these p

goldman doing this is extraordinary.they are not prone to taking a great deal of leave, not unlike bloomberg staff. tom metcalf with the latest on the holiday leave entitlement at goldman. let's get a quick snapshot at risk. it is still the dollar. although we heard from bnp paribas, it is screamingly rich. the aussie is down on disappointing china data. dani: all about that disappointing data. the aussie dollar weaker as our chinese stocks. manus: bloomberg markets europe is up next. we will do it all again tomorrow. inside, outside, big or small, angi helps you find the right so for whatever you need done. with angi, you can connect with and see ratings and reviews. just search or scroll to see upf on hundreds of projects. and when you book and pay throug you're covered by our happiness it's easy to make your home an a check out angi.com today. angi... and done. what's it like having xfinity internet? it's beyond gig-speed fast. it's easy to make your home an a so gaming with your niece, has never felt more intense. he

that is the best run for goldman traders and 11 years, and that trading revenue accounts for 61% of goldman's the quarter of seven point 9 billion. in these volatile times there have been other times of goldman-s revenue producing that haven't done as well, and clearly it has more than compensated for that. the past two years have brought a lot of volatility to trading desks when we look at the early days of the pandemic right up into the russian invasion of ukraine. and while that has been weighing the fallout of the recent drop in the market, goldman has pounced on opportunities. i will leave you with one drawer dropping stat. it took three months of 2022 were goldman has as many 100 you days as it did in the three years before the pandemic. back to you. haidi: let's get you a quick check of the latest business/headlines this hour. the billionaires personal offer has just over 11% of agl energy to oppose the company's low exit from coal. they are now the market shareholder and will close the utilities plan to the emergent power generation assets. agl says it remains committed to the plan. s

i just did a piece on margin of safety from goldman sachs. safe haven right now? >> i think quality diversified double companies with strong balance sheets, not the payment on credit markets because credit markets are actually quite expensive places right now i think at some point, the -- you know, fixed income investors are going to get a big opportunity this year. for the time being, defense of ensuring this robustness in the portfolio is the key >> appreciate the calm words in an uncertain world, especially where you are in the uk and continental europe it's a rough time for so many. thank you so much for joining us take care. >>> well, folks, that does it for us on worldwide exchange we got low numbers and target numbers. we'll see if target follows walmart down that guidance cut path stay tuned the find out. squawk is up next. we'll see you tomorrow have a great day eyes on the ball baby. digital tools so impressive, you just can't stop. what would you like the power to do? >>> good morning more retail earnings on deck we'll hear from lr

the dow jones industrial average surging higher, helped by jpmorgan, goldman sachs, walmart.heck out the s&p sector winners today. as i mentioned led by strength in banks, following optimistic comments from jamie dimon at the investor day energy not too far behind, ou

sources telling goldman that goldman would only work with select spac's, finding a merger target so thatke the company into public markets easier. you also have this slew of spac's a lot of questions are surrounding. do you have is the good daesch and -- do you have this liquidation -- alix: blood banks are still in the business that can pickup slack? sonali: one question is around cantor fitzgerald. they were one of the biggest underwriters and hiring for spac's. this was supposed to be the new model of taking companies public. with the sec rules the worry is around forward guidance as well as conflict of interest. will the rules change? will there be repercussions around the disclosures? guy: what are the revenue implications? sonali: i just gotten back from milkin where spac sponsors were roaming free and looking for deals. you have had sponsors conceding they have lost money. you have costs associated with having lost the spac and not be able to fulfill that deal. there are a lot of investors who have been doing a lot of spac arbitrage. do investors get their money back quickly? ther

goldman sachs remains dollar -- is it right to say quasi bull?nt to hide in the dollar even to though the dollar is on track for a pretty big bruising this week. but you are looking at a shift in that yuan. i think it's size of the cut, dani which is the actual move. the move could reduce mortgage cost and lope demand and a property slump. is it a form of helicopter money? vicarious helicopter money? phil dobson can answer that question for us. mortgage rates, open up the floodgates for money. it's a form of helicopter money, paul, isn't it? paul: it's definitely another way that the pboc are trying to push some cash into the economy. we've been worried that the transmission mechanism hasn't been working all that well, manus pushing on a string that kind of an analogy. but things are taken more seriously by the market. you know action little less conversation, a little bit more action. [laughter] getting us. the market has been itching for something to get ahold of here to get that rally going in chinese markets. today, they seem to be taking it

goldman has no comment.and and know what's going on. it's clearly something they're looking to do. the other thing, cheryl, to be quite frank, they're looking to buy stuff piecemeal. don't be surprised if they bought greg fleming's rockefeller management. a high-end, boutique-y money, not money management but wealth management firm, brokerage firm. that's something you might see them do. so they're definitely going to get bigger now, people hi, as asset prices normalize and, again, they want to maintain control. cheryl: good story, charlie. >> thank you. glad you approve. [laughter] cheryl: i think it's great that you sat down and the market went higher. don't leave. >> is it -- it just went lower. cheryl: we're lower again. i'm trying. charlie gasparino, thank you very much. great stuff. >>> investors may be feeling blue about market losses, but today's countdown closer thinks blue could be the cure. he thinks ibm stands out from the stock market pack hawaii's coming up. as far as the big board goes, so we

david sceo of goldman sachs david sceo of goldman sachs and our best deals on every iphonekewsong leeeg the iphone 13 pro with 5 ceo that's the one with the amazing camera? yep! every business deserves it... like one's that re-opened! hi, we have an appointment. and every new business that just opened! like aromatherapy rugs! i'll take one in blue please! it's not complicated. . at&t is giving new and existing business customers our best deals on every iphone. ♪ ♪ what's it like having xfinity internet? it's beyond gig-speed fast. and it can connect hundreds of devices at once. that's powerful. unbeatable internet from xfinity. made to do anything so you can do anything. . >>> good monday morning. welcome to another hour of "squawk in the street." david faber is in l.a. at the milken institute global conference this hour interviews with the ceo's of carlisle and gold medal man sax. morgan brennan has the day off we hit a new interday low as we kick off the month of may. 30 minutes into the trading sessions, starting with spirit, the big movers, rejecting jet blue's takeover offer citin

he should have been sitting at his desk at goldman sachs.lanning outings with his family. he should have been able to enjoy all the things that new yorkers enjoy. new we're morning his death. spoke to his sister today. she was full of pain. she could not find reasons why someone took the life of her brother. hearing the words coming from the bronx, the commissioner and i stopped to see the parents of a 11-year-old baby that was prematurely taken to us due to gun violence. we saw it too afternoon. this is all fueled by the toxic gun laws. we try to rebuild our city. this is an impact that we will respond accordingly and ensure our city is safe and our transportation system is safe. part of our recovery is tied to the mta. that's why we are glad to have the mta as a partner as we move for toward to rid it of the violence that we're seeing. daniel was shot. we feel it in our hearts. we lost a fellow new yorker. one of the good guys. we're doing our job i say over and over again, they have removed over 2,900 illegal guns off of our streets. more

goldman sachs talked about bringing in the growth estimates a little bit and bringing their s&p 500 down to 4300. kriti: abigail doolittle, always a pleasure, thank you so much. let's bring in aaron brown and the chief risk manager at hq our risk management formally. your take on whether or not this is where the stock market is bottoming out or do we have more room to run? >> we certainly have more room to run. on the other hand, and see any signs that this will be a spectacular beat to a long decline. we are in the initial stages and it's anybody's guess where we wind up. jon: how do you think these asset classes will continue to trade? you can watch the crypto market as well. >> what people need to understand about crypto was any crypto investment is the combination of two things, one is an investment and highly speculative technology and we know those will kill. the other thing you're getting is a foothold in an economy that's insulated from many global problems people worry about, inflation, interest rates, war, sanctions, institution stress. that's supposed to be one of the big appe

goldman sachs says now we could see some declines. just for now it for the long term, they expect demand to prop up prices past 2024 and whatever supply glut that emerges over the next year or two will be erased later in this decade. the amount of supply in the market right now is a little too much, too soon. yousef: lithium is up about 500% over the last five years, but the situation in china is shifting as well. i'm looking at brent crude lift about 50% since 2022. how is that likely to impact brent and wti from what we can tell in the data? stephen: you look at what is happening in china and there is obviously some bullish elements that could be emerging as china does open up. the government said they are going to open up some industrial parts of shanghai. they say the outbreak in beijing is under control. china is a massive consumer of energy and while prices are up significantly for the year, those games have been tapered because the chinese demand this appeared with beijing's assistance on zero covid. with that kind of disappear

goldman sacs even credit street historically hadn't been huge in the spac role.for their firms. if these rules and especially th proposed legislation becomes law, they could face more liability in things like the projections, if those turn out to be wrong and other issues >> hasn't goldman already shut down the spacs department? because they were concerned about a legal blowback or investorlout >> pretty much every big bank has put a pause on this business essentially because they need to see hoy the proposed rules play out and what the risk profile looks like if they're liable for the spac, it's not worth being involved in despac processes i've heard indications of once they find their merger target are like i don't need back pay compensation for this going through because i don't want to come afoul of any the potential regulations in the process and without the big underwriters, with it's a little harder to do there are underwriters still doing this they're just smaller firms >> i don't want to say gone for good but not anything like the market it once was >> i

what is the big deal for goldman. recession or inflation? david solomon told me he is not overly concerned about inflation. he reiterated that the economists have been a view of a 30% chance but inflation is extremely punitive. that is the wording here. watching forward with any cracks in the credit market moving forward as thing starts to deteriorate more. kriti: we have seen credit spreads widening as well. we thank you. joining us for more on the inflation topic is vincent, the director of global macro strategy. we have a reporter live in our studios, visiting from washington, d.c.. we thank you for visiting. here is a simple question. is the inflation peak in the rearview mirror? vincent: i think that is a big if, given our markets. i would say yes, but it doesn't matter. whether the peak was in april, or march. at the end of the day, the story is the speed of disinflation. especially, compared to what we need to get by the fed in 2023. anyway you look at it, if you break up the index, i don't see how we get to 4.5% by the end of the yea

goldman sachs morning the u.s.ery high risk of a recession as the bank slashes its growth forecast. china cuts mortgage rates for first-time homebuyers as it looks to boost the economy. data is expected to illustrate the economic toll of covid zero. shery: take a look at japanese equity markets, gaining ground by about 1%, the nikkei leading the gains. we see a little bit of weakness on the japanese yen against the u.s. dollar, this of course after the biggest surge in the yen against the greenback in about six months. the biggest gain for the first time on a weekly basis since early march. perhaps the freefall we have seen in the currency could be slowing down. we will continue to watch the space. we are watching jgb yields, fell towards for .2%. we watch any boj action now that we are seeing inflationary concerns now. we saw ppi numbers jumping 10% for the month of april year on year, which is a beat on the expectations, and of course commodity prices pressuring pricing power by japanese firms. take a look at kor

goldman on the equity market, downgrade from year-end.fed has told us they want tighter financial conditions. essentially the fed has told us there's not one, equities up and a weaker dollar and all of the above. be ready to push against that. maybe who knows again. that's a change we need to get our hands around. evan talked about a trend inflation story. peak inflation to hire trend inflation. what does that mean for this market and for the two-year? they are at 350 year-end on a two-year. right now on the two-year, 258. bank of america do not think we've seen the peak. they think the fed will push forward and when we reassess they will be reassessing in a way that drives yields higher, not lower. take a look at euro-dollar right now. 1.0 426. we came very close to taking out the intraday low of 2017. can we get close to that level on friday? this is the call coming through again and again by people. we bounce, we rip, it's different for some people this time around. the ecb is really struggling. what on earth can they do about it. tom:

this is bloomberg. ♪ shery: goldman sachs and bank of america saying that u.s.quities may more losses before the fed signals an end to monetary tightening. let's bring in our next guest who is remaining defensive. with this is frances stacy. good to have you with us. at a time when bank of america said the fed had offered no help to risk assets and appears far from stepping in. what do you do until the? >> i remain defensive and the thing is that the fed is tightening into a slowdown. we know that. there is a lot of data still to come this week, with revisions to the first quarter gdp and of course you get the pce and on wednesday the fed minutes but, no, the fed has not indicated yet it will come in. however, we are projected to make a similar move with cumulatively tightening from balance sheet operations and also from rate hikes as we did last time, except last time it was over a few years. we're going to be doing at this time as projected in a year. that time the fed had to pivot and this time we are doing it so quickly into decelerating growth, i think they

we've got a downgrade on growth from goldman for the u.s. economy, a downgrade from citi for the chinese economy. is that it? some people will be asking that question. tom: here's my sophisticated data check to get us started. brent crude rounded up, $111. week up, -- wheat up, corn up. jonathan: your 10 year, 2.92 percent. euro-dollar, 104.19, of 0.1% on that currency. a little bit quiet in the fx market and in treasury markets. tom: i will go with that as well. rice has gone from 12 up to 17 here. that is u.s. rice. that is of course, a global story. tony rodriguez, head of fixed income strategy at nuveen, thrilled you could join ustoda you know the history of nuveen. it is steeped in original products way back 30, 40, 50 years. of course, the advent of the company in 1898. you have never seen price down like this, have you? >> good to be with you. the most difficult start to a here we have seen. we are seeing massive rise in rates in the context of how low we had been, where we were pretty close to zero across the board, so you are seeing

goldman sachs has scribed a new piece. on batteries.ing exposure to green energy transition got in too quickly. greed is not good. my colleague, paul wallace is here. one week they write a note saying there is a scarcity of everything. jeff curry said we could not buy enough. have they changed their mind on battery technology inputs? >> i would not say they have capitulated but this is a change in tone for them and they are not the first. if you look at the likes of citigroup, they said similar things. it is interesting. these are three metals that even goldman sachs says have very good future because of the uptick with batteries and electric vehicles and all of the metals needed for solar power plants and wind plants. they say for the next two years we will see a downturn in lithium, nickel and cobalt because investors got in too quickly. manus: our exuberance led to oversupply. >> they say if you look at these metals in particular, supply is coming on stream more quickly and that is why investment has been ahead of fundamental demand.

meanwhile, goldman's trading decks in the spotlight for a different reason.dman filed regular trade statements that said on 32 days in the first quarter every other day the trading desk revenue exceeded $100 million. the best in 11 years. their revenue accounted for 61% of goldman-s total for the quarter of $7.9 billion. a remarkable winning streak. we've talked about volatility in the past two months we have talked about big losses in the markets but goldman's trading d esks has been a leader among other bank trading desks to seize upon volatility as an opportunity and turned that into a big windfall for the bank. back to you. rishaad: su, thanks for that, su keenan joining us. just -- in hong kong. we have equity trading not happening in tokyo or shanghai, public holiday there. that means no u.s. treasury training, either. we have a look at u.s. futures. perhaps should be getting a bit of a lift but not really. the korean market making some moves to the upside up by half of 1%. looking essentially edit -- as investors evaluate the global way for monetary ti

goldman sachs employee shot in cold blood on the subway good make it the goldman sachs legislation.iness back and it will help a lot of people that don't like goldman sachs. another idea i had. aoc never talks about crime. she never talks about all these horrible things that happened in her own city. i actually went and looked and did research for the first time today and found out that her ideas for crime are nonexistent. the only thing she has for crime on her entire website is a reimagining public safety. i don't know what that means. she doesn't explain it. everything else is legalize drugs, empty the prisons, give felons the right to vote. oh, and one thing she sponsored in the house. she wants police officers to identify their name and department when they arrest somebody. that's it. she doesn't actually have a policy to fight crime. it is to fight police. >> katie: social justice. harold, what do you think? >> harold: i think tim scott would probably be pleased if they took the best of his stuff and tried to make something. i think we been trying to say politicians should be

anna: staying with us is the chief global equity strategist at goldman sachs. we will get back to geopolitics. hungary sites progress on a proposed embargo of oil from russia, but warns more needs to be done before they can back the measure. this is bloomberg. ♪ tom: welcome back to be open, it's tuesday morning. we are almost 14 minutes and here trading day. gains of around .6% across the encz mark 600. -- the benchmark 600. the features for the nasdaq are stronger, up 1.5% after heavy losses yesterday. every single sector in the green apart from health care, energy and telecoms, autos, consumer and travel and leisure are leading the pack at this point. anna: european markets bouncing back a little. not so for oil stocks. the eu commission president flew to hungary to try to break a deadlock around imports of oil from russia. hungary says some progress was made but quote a lot more needs to be done. joining us now is our european correspondent, maria, do we get a sense of how imminent a deal on an embargo on russian oil we are given the pushback from hungary?

dan goldman, thank you.f this really extraordinary development. we're grateful to you, my friend. >> thank you. >>> we have much more on the breaking news that the department of justice has requested transcripts from the january 6th select committee. st requested trscanripts from the january 6th select committee it's still the eat fresh refresh, which means subway's upping their bread game. we're talking artisan italian bread, made fresh daily! the only thing fresher than their bread is the guy reading this. subway keeps refreshing and refreshing and refreshing and re- at adp, we use data-driven insights to design solutions to help you manage payroll, benefits, and hr today, so you can have more success tomorrow. ♪ one thing leads to another, yeah, yeah ♪ when traders tell us how to make thinkorswim® even better, we listen. because platforms this innovative aren't just made for traders —they're made by them. thinkorswim® by td ameritrade >>> joining our breaking news coverage of this real bombshell that the

the astounding losses, citi, jpmorgan, goldman sachs and more taken out to the woodshed. are they so bad that they look good guy, you brought that up in relationship to these names. >> i think it's something work looking at you crawl through the wreckage and look at some of these things i will tell you i can't remember the last time, maybe karen knows, that bank of america and jpmorgan were trading at the exact same multiple to tangible book they are both trading about 1.7 times tangible book. now, listen, you could say that bank of america doesn't deserve that and maybe that's true jpmorgan certainly deserves a premium multiple and 120 was the level we talked about for a while. jpmorgan this valuation which you haven't seen maybe in 15 or so years makes sense and bank of america, by the way, this was a level we topped out at this 35.5, 36 level right before covid hit in january/february of 2020 so banks, people have been waiting for valuations to make sense. i think they actually are starting to make a lot of sense now. >> they may be making sense but then you may be wor

there was a report in the "wall street journal" about a new vacation policy at goldman sachs.>> i'm not sure that everybody's talking about this but we like our people whether when you look historically, people haven't taken vacation. we encourage people to take a vacation to recharge, it's a marathon, not a sprint we're trying to create best policies run competitive but take care of their families >> what does that look like? >> for senior people, most senior people have been at the firm a long time, they don't take their allocated vacations they can take the vacation they need when they need it i'm not concerned about how much vacation people working at gold plan s goldman sachs are taking >> some are saying people should be masked, we saw apple push back some of its plans limiting their in-office, given what's happening. >> we continue first and foremost, obviously, to focus on the safety and security of our people, but our people want to be in the office we continue to see an increasing nud number of people in the office we've done a lot of testing around our business. so

the question is, we had this uncomfortable downgrade from goldman-s we talked -- goldmans that we talkedn friday about. the question is, has the bloodletting done in this market? dani: yeah. manus: you've got oil, bonds, the question is, bonds where the haven last week and the dollar did not play haven state last week. u.s. treasuries rising this morning. you can see yields rise. ozzie yields on the back of political certainty with anthony albanese. bitcoin above the 30,000 level. crude over $111. dani: beijing has reported a record number of covid cases during its current outbreak, reviving concerned authorities may impose a lockdown. the growing outbreak underscores the challenges china faces and following its covid zero approach for more on this and how it is hitting sentiment, we are joined by rachel chang. on friday, it was more of a positive sentiment in china from the lpr cut, but even the new cases in beijing, what does the tone need to be defined support for this market? rachel: i think over the weekend there was the feeling that the outbreaks in china were combing down. -- calm

a goldman sachs employee going to sunday brunch when authorities say he was shot and killed at random. tonight, the suspect now seen on newly released surveillance. they need the public's help. and what his record reveals. >>> the white house pressed tonight after president biden pledged to defend taiwan if china invades. mary bruce traveling with the president. >>> the baby formula crisis. a second flight from overseas now expected mid-week, after the first emergency shipment of baby formula arrives in the u.s. nearly 80,000 pounds of specialized formula. >>> police investigating disturbing video tonight, showing a violent altercation at newark airport involving a former nfl player and an airline worker. >>> russia escalating its attacks in eastern ukraine. ian pannell in the donbas region, about 20 miles from the front lines tonight, as the most prominent russian official to resign since the war began. tonight here, his blistering message for putin. >>> trevor reed speaking out about his nearly three-year ordeal in a russian prison. why he thought he wouldn't be coming home alone. >

— oxford, he excelled, he went to goldman sachs, he married well, wouldn't — goldman sachs, he marriedor. the bigger question for me on— chancellor. the bigger question for me on the — chancellor. the bigger question for me on the rich list in general is this feeling that more and more of the spoils— this feeling that more and more of the spoils are growing to fewer and fewer— the spoils are growing to fewer and fewer people at the top of society. i'm fewer people at the top of society. l'm all— fewer people at the top of society. l'm all for— fewer people at the top of society. i'm all for wealth creation, i'm a capitalist. — i'm all for wealth creation, i'm a capitalist, but in a capitalist system, _ capitalist, but in a capitalist system, people have to have some at the top of segiety. at the top of society. leena- 455!!a as él—f. lee ;l :;;';s all i-...-.. ._--._i- ;; ll; l;; ;l :;;';4 all for i-...-.. ._--._i- ;l ll; l;; ;l ;;;';l all for l;;;— _.;;_.1; 4 ll; l;; 4 l;;; _ i all for .. cream _ l;;;— _.;;_.1; 4 ll; l;; 4 l;;; _ - all for serial“? creation, i'm - llllll- lll-ll... ll

goldman sachs, more optimistic.equity strategist, telling bloomberg the stocks are starting to look attractive. >> equities are starting to look attractive for medium to longer term buys. we have seen a huge absorption of a lot of worrying for investors now. the question is, where do we go from here? >> coming up next -- one of the biggest calls on china was never meant to happen. we get the details, ahead. this is bloomberg. ♪ ♪ >> this is "bloomberg daybreak: australia." treasury secretary janet yellen says the u.s. economy will suffer if the supreme court cuts access to abortion. she says eliminating the right to access abortion services would set women back by decades. >> i believe that eliminating the right of women to make decisions about women, whether to have children, what have very damaging effects on the economy and would set women back decades. >> elon musk says he would reverse former president donald trump's permanent banned from twitter once he takes control of the company. he told the conference twit

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your interview with goldman sachs, there is value for oppenheimer at goldman's in its $11 trillion global equity wipe out. tom, good morning. >> with a 6-12 month view, you can look to position in this market, even suggesting within technology, there are opportunities. we continue to focus on energy. on a day when the cpi print comes out of the u.s. and whether that entrenches this view from a concern about inflation to recession. when it comes to energy, earnings coming through in the european space, one line on the siemens energy earnings. the preliminary results published on april 9, if we get more lines we will bring those to you. that company's stock is down 25% year to date. >> good news, lifting the outlook. they warn of a cash burn, and a major steel conglomerate, what they said is raising the prophets 2 billion euros, cash flow remains restrained but downgraded to show a loss. you have full year adjusted of at least 2 billion and sales, net 10.6. the market is 9.44. it -- is it the head fake? >> may lend stocks in china are up today on relief that the numbers around covid have co

epic jack: the old song is by goldman at book. few weeks ago talking about energy, far and away the best performing sector in the s&p, the only one in the green. are you still keen on energy stocks? andrew: they look good, gas stocks, international oil like shell only trading six times earnings with 3% dividend yield. energy prices have held up well despite recession fears. that could tell you that energy will do well. jack: roundtable members invest in the coming week and the summer blockbuster that jack hough is most excited about. stay right there. ♪♪ jack: earlier in the show you talked about terror mount. a big season of blockbuster movies held because of covid. which of the blockbusters are you most excited about? jack: i think i will give you five words. she hulk ethernet he at-large. everyone is talking about top gun, the minyan, the movies in the movie theater. we are talking about a lady with a demanding career. you think it is easy be in the gamma power green strong woman and a man's world? we can find out in august on

blankfein of goldman sachs saying we could look at a recession in the u.s.nteresting call from j.p. morgan, they are upgrading some china internet stocks to overweight. this is the same team that put out the note saying chinese tech was essentially on investable, -- uninvestable, which we then found out was a mistake in terms of publication. significant uncertainties remain, but they should start to abate on the back of certain regulatory announcements. francine: u.s. futures also with a downward trend. the g7 wednesday will give us an indication of what could go right or wrong in the economies. on the u.s. board, the futures are down .6%. telecoms are advancing, bono phone climbed after an emirate firm bought 10% of the company. and the 10 year u.s. yield dropping. tom: we continue to watch for parity on the euro-dollar. essentially range bound. and starlink, this is part of our survey today, the forecast of 1.15 on pound-dollar at some point this year. 1.22 is where we are now. the u.k. front and center when it comes to concerns about stagflation. francine

tom: where is the longer-term bullish view what goldman take you at this point?akshya: it's hard to be very long-term given the uncertainties we're seeing. you have a war on the borders of eastern europe that does not look like it is de-escalating anytime soon. you have significant rate coming through. and you have -- the real question to ask is, if financial conditions are going to tighten, but are they going to continue to tighten the way that we have seen the last month leaving things lower, or are we going to go back a little bit of the world in march, where rates are moving higher but actually equity is doing all right. going back a little bit to that world is going to be easier for emerging markets which are a cyclical asset, rather than a world where you continue to see downside pressure on risk assets. tom: kamakshya trivedi fantastic insights, cohead of global fx and em strategy at goldman sachs, thank you. germany says it is ready to support the eu's plan to ban russian oil imports. details on that story next. live from brussels. this is bloomberg. ♪ to

he worked at goldman sachs for years.amily was on "american's newsroom" talking about their loss. listen. >> when this happened, i didn't want it to be true. i didn't even want to find out. i thought the police were going to say it was a car accident. >> now abdullah had 19 arrests and more than a dozen incidents since 2014 according to the post. the career criminal was on the run since sunday. the family says more needs to be done to keep criminals behind bars. >> martha: thanks. the new york city mayor, eric adams, speaking out on this. he spoke with the family yesterday. now he plans to hold an emergency meeting thursday with business leaders that want more police on the subways before they bring workers back to the office. charles gasparino broke the story saying someone alert mayor adams before he runs for president, he needs to fix a few things in new york city. adams has denied a white house run in 2024 if president biden is not in the race. charles gasparino joins us now. good to have you with us today. this is an

and so we don't want coca-cola or visa or united health how about goldman sachs? they earned $10.76 i would have been happy with $9. but $10.76 hey, who cares once again it was enough and goldman has shrunk from 9 times earnings to 8 times earnings that is a stunning decline for what this market is willing to pay. yes, i worked there. this is not forecasting the future of goldman's business but the market is paying less for all merchandise even when it is earning much more than we thought. and goldman sachs, let's throw that the hell out. remember we thought nike would get crushed. china wasn't even the problem. but the stock falled from 130 just under 140 and now it has been repealed. it is down to 126. it is like the quarter never happened let's get rid of that stock. how about ibm? pushed from 129 to 141 until it was at one .130 it is a downfall for the stock that reflected the new leaner and meaner ibm so forget those. now sure there were some -- boeing had a very bad quarter. am i kidding it stunk 3m, nothing to write home about there. and i could have fitted

epic jack: the old song is by goldman at book.ew weeks ago talking about energy, far and away the best performing sector in the s&p, the only one in the green. are you still keen on energy stocks? andrew: they look good, gas stocks, international oil like shell only trading six times earnings with 3% dividend yield. energy prices have held up well despite recession fears. that could tell you that energy will do well. jack: roundtable members invest in the coming week and the summer blockbuster that jack summer blockbuster that jack ♪ ♪ wow, we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq lemons. lemons. lemons. the world is so full of lemons. when you become an expedia member, you can instantly start saving on your travels. so you can go and see all those lemons, for less. like pulsing, electric shock

from goldman sachs, blackrock, and from ss, still with us. the biggest? starts next week. it won't be answered for a while. the fed reduced its balance sheet. how big of an impact does this have on your world? amanda: it is created some interesting and attractive relative value opportunities for us. the s market, there had been a lot of concerns from some market participants that the fed might perhaps engage in active sales of agency mbs that is not our base case for the near term, but nonetheless, the underperformance spreads versus ig corporate's, and we come a few weeks ago, operated the agency to overweight versus ig because we saw that as a dislocation. how that will correct will be as time goes on, and we view the consumer as a pretty strong shape. corporate, and when you think about the beta slowing growth, we think that the agency mbs market offers a more attractive exposure, relative to corporate. it deftly has created opportunities. matt: i will have to leave it there, but thank you so much for joining us. troy, great to see. you got the final word. from new york

epic jack: the old song is by goldman at book. a few weeks ago talking about energy, far and away the best performing sector in the s&p, the only one in the green. are you still keen on energy stocks? andrew: they look good, gas stocks, international oil like shell only trading six times earnings with 3% dividend yield. energy prices have held up well despite recession fears. that could tell you that energy will do well. jack: roundtable members invest in the coming week and the summer blockbuster that jack summer blockbuster that jack is it possible the only thought that comes to mind is... ♪ finally? this is financial security. and lincoln financial solutions will help you get there. as you plan, protect and retire. ♪ i had been giving koli kibble. it never looked like real food. with the farmer's dog you can see the pieces of turkey. it smells like actual food. as he's aged, he's still quite energetic and youthful. i really attribute that to diet. get started at longlivedogs.com what are you recommending for muscle pain? based

. >> oldman has an interesting production -- goldman has an interesting prediction.man sachs saying the prices of three key metals, cobalt, lithium, and nickel, they could decline over the next two years and there's an interesting reason. they are not saying these metals will not play a crucial role in the ev sector moving forward because these are key ingredients in tv batteries, but what they are saying is there has been such exuberance around the sector that there has been too much supply into the investor side. they are seeing -- they are saying that oversupply could lead to a weakness in metal prices as they are predicting lithium prices, which have averaged around 64,000 dollars, they could drop to $16,000, also likely to see declines in cobalt and nickel, although that could improve in 2024 when we see the demand side pickup. shery: and they will look at the broader commodity space. we saw copper gaining ground in the previous session. we continue to see skepticism in the metals market given concerns about growth, especially from china. we saw a little boost l

goldman sacs ceo talking -- former ceo, talking about the risks of recession on face the nation. >> you think we are headed toward recession? >> we are certainly heading -- it is certainly a high risk factor. there is a path, it is narrow, is definitely a risk. if i were running a big country -- company and if i were a consumer, i would be prepared but it is not baked into the cake. guy: the question of the day -- should you position for a recession? what kind of recession should you decision for? joining me is gina martin adams and michael mckee. michael, lots of people talking about a recession. the fed has hinted at that being probably a realistic option. we have moved from a soft landing to a soft-ish landing p review talked to fed speakers and what is the take away? do you think the base takeaway is the u.s. economy is headed toward some kind of recession? michael: i don't think it is the base, at least among policymakers but there are concerns being expressed paired when i spoke with loretta mester , she suggested things are going to be bumpy, which is about as much as you will ge

the contrast from goldman sachs last week was very stark. saw their ceo get paid a bonus of $50 million, and that is -- so maybe 30 million is a steel here. francine: some of the conversations we have seen would be pretty explosive. i do not know whether we will hear about it. they usually do not publicly speak about it, but jamie dimon is notice because mind. >> he is a man of many opinions. typically the ceo's of them say that if the commedia -- committee decides on this, i would just accept that, but you can see where dimon is a well-known and he may well come out and defend it. tom: we will much for any reaction from the ceo, jamie dimon, to this rebuke from shareholders. great insight on how that plays out. senior editor on our finance team. coming up u.k. inflation surges to its highest level in 40 years, adding pressure for action from the government and the central bank. that story is next. your markets across the european space through -- currently holding onto slim games. futures stateside pointing to losses of 0.3%. stay with us.

david: let me start with the goldman call.y're removing taiwan and taiwan is underweight on market rates. within the aussie market they are talking about things like metals. they are keeping the risk in china, indonesia, and singapore overweight. this is what they are saying that is behind the rationale. when he percent upside is what they are expecting on the -- 20% upside is what they are expecting on the msci asia specific. -- asia-pacific. i'm going to make this simple. they are seeing a delay in the final leg of this bear market and to see for china. this might be the final leg of the bear market. they end on the price target for june of next year. that has upside for varying degrees of tightening digits from crib -- for crypto. juliette: let's get the first word news with vonnie quinn. >> consumer prices in china climbed again. pti was up 8% from a year earlier, above the estimate. consumer prices accelerated 2.1 percent as covid lockdowns go full cost higher. china risks of tsunami of coronavirus infections with a poten

morgan chase and goldman sachs to borrow $750 million in debt.is still a long way from taking hold. the big transaction in the drug industry, pfizer has agreed to buy bio haven to gain an approved treatment for migraine headaches. they will get one half of new bio haven, the company will retain some. tom brady is not retiring but he will join analysts, the timing of his retirement is up to him. in march he said he would return to tampa bay after previously saying he would retire. he has seven zero championships. that is your latest business flash. guy: thank you, kailey leinz is delighted. cap spaces in the united states hitting an all-time high, we will hear what president biden might do about that. gasoline prices front and center. as we had to break, talking of an story, janet yellen is speaking for the senate banking committee, and number of headlines coming out of the treasury sector --secretary. she's being asked about russell, a senator is asking questions and janet yellen -- russia. us editors asking questions and she says russia is strug

we talk to people like goldman apparently the head of goldman's european operations somebody from morganf people. liz: they wanted the free food. charlie: must be they like mutto n. liz: the sandwiches, the tea sandwiches. charlie: what's in those? liz: watercress. i'm named after the queen i know this stuff. charlie: of course you are the queen, the queen of fox, and i'm the king, right? ha ha. [laughter] but anyway-liz: it's a royal jes ter. charlie: while this is going on and this is why they aren't publicizing it so i called up his heiness, and i got flack. liz: so the prince? charlie: i mean the prince. he's got a flack and she did confirm the whole thing. she goes how did you find out about this and i said well, you know? liz: seriously? charlie: i swear to god. you can't make this up it's so bizarre. i think the reason why they are keeping the lid on it is because esg is now coming under such pressure here in the u.s.. liz: environmental social government. charlie: the whole notion of reducing your carbon footprint immediately if you're a company, if you're an asset manager forcin

epic jack: the old song is by goldman at book. weeks ago talking about energy, far and away the best performing sector in the s&p, the only one in the green. are you still keen on energy stocks? andrew: they look good, gas stocks, international oil like shell only trading six times earnings with 3% dividend yield. energy prices have held up well despite recession fears. that could tell you that energy will do well. jack: roundtable members invest in the coming week and the summer blockbuster that jack summer blockbuster that jack can he stand on his own... once he's all on his own? this is financial security. and lincoln financial solutions will help you get there. as you plan, protect and retire. ♪ certified turbocharger, suspension and fuel injection. as you plan, protect and retire. translation: certified goosebumps. certified from headlamp to tailpipe. that's certified head turns. and it's all backed by our unlimited mileage warranty. that means unlimited peace of mind. mercedes-benz certified pre-owned. translation: the merce

goldman -- to which mr. goldman was privy.merica learned about volodymyr zelenskyy, about ukraine, about all of these issues, right? and look at where republicans stood on that. now -- who are now calling for more weapons, more aid, who are criticizing the biden administration from the right. just go back a little bit further and see what they said about ukraine then. and i think it showed all of it, the withdrawal from afghanistan, all of it, i think, showed vladimir putin that, a, the u.s. was not a reliable partner to its geopolitical partners, that it was -- we were so busy chasing our own tails internally that everybody could be manipulated every which way, especially the republican party, and so he kind of had a clear path to kyiv. >> i want to bring into our conversation retired army lieutenant colonel alexander vindman, the former director for european affairs for the national security council and now a board member with the renew democracy initiative. and you can jump right in. we started with your former colleague, f

goldman sachs and others say this is not surprising either.ll of the week numbers coming out in april are just increasing the urgency of the government to do something. li is i think trying to push back against this view that maybe the government is not doing enough. that newspapers are talking about how much xi jinping has done for the country, how successful they have been, how well the covid zero strategy is working. but again, lots of steps being taken and announcements and meetings, is probably not going to change what growth is doing right now, and that has got to be the china government's true worry down the road. shery: goldman sachs also saying that perhaps this is acknowledgment that there will not reach the 5.5% growth target for the year. so given all of this news, not to mention the rbnz's very hawkish turn's and the bok potentially hiking today as well, i am not sure we will see positive sentiment in the markets today. what are you think? andreea: this is going to be a very interesting the bok meeting. it is the first meeting for

the goldman sachs chief financial officer.k to you in london and then we'll have plenty more interviews throughout the day for day two at davos. tom: thank you very much indeed. the central bank of china, pboc and the bank regulator asking lenders to boost lending and a reminder this is within the context of additional stimulus that officials have signed off on including $21 billion worth of tax cuts. infrastructure spending on railway and part of auto sector as well. none of that has done anything to address concerns. you're not seeing a lot of movement. the other piece of context that is important is we saw that surprise cut of the lone prime rain, the benchmark, five-year loans and mortgages. this is again a -- the central bank, the pboc and regulator asking banks to boost lending. in this concerns many officials about the impacts of the economy. coming up, we speak with a guest live from davos. that interview is next. this is bloomberg. tom: welcome back to the open. we are 44 minutes into the european trading day. in term