karen, we know j.p. morgana favorite of yours and you own the stock, it's held up better than most, i guess the high is buy low sell high or buy high sell higher, at some point these stocks maybe become a better value. >> i'm long right now, i think they're a good value now sentiment is bad no question, don't love to see warren buffett decrease stake in j.p. morgan, he was buying bank of america. part of the reason it's down because of the ten year yield move people are concerned with how big the losses are going to be, i totally understand that. i think they're also under estimating the power of these banks to continue reserving in a very big way and still make money which will set them up well i think, you know, when we get to the next quarters earnings and people start to look to 2021 you will see banks do much better you will see they'll have the balance sheet and the reserves for the losses >> guy, i'm going to quote a great guy which is that maybe mr. buffett's sale of wells fargo is le less of an indictm

companies as well as financial institutions have been contributing to law enforcement for years j.p. morgan chase is an official corporate partner of the police the bank has given $4600000.00 to the new york city police foundation was. was released foundations across the country in places like chicago philadelphia and new york city have been showered with corporate money money from the same corporations such as marathon wells fargo and j.p. morgan that now claim suddenly they are woke furthermore these companies sponsor events in dollars that celebrate the police and remind the public that police power is backed up by corporate power it looks very good to shell out money in the name of equality but will money speak louder than words when companies claim to support black lives matter but then fund the police i think that they're placing wagers and bets on all sides. that is to say that i'm sure these petroleum companies they feel that police departments their products and they believe that black lives matter folks buy their products as well however i think that those of us in the movement se

we have had calls out of j.p. morgan initially. if he goes, does abenomics go? j.p. nks the initial reaction might be yen strength, which is what we are seeing, not to the extent they called a couple of days back. i think it will go to 100. we have to wait and see. we will keep on top of the story. we don't have a lot of details. think partly as we are not even close to the 100 yet. the note did say including donald trump losing the presidency as well. we are kickstarting the u.s. election campaign. what does this mean for abenomics if we have a new p.m.? david: three arrows. that is what it was supposed to be about. for the first couple of years it was always spending, the easy thing to do and the boj coming anomics.kurod here is the balance sheet. easilyse things retractable? the name and the brand itself is a patch to him, but mizuho was out with a note. what they are saying is given how institutionalized some of these practices have been, and it has been seven or eight years, it is hard to see how this goes away. it will depend on the continuity of policy. i will

earlier this year j.p. morgan chase's economists wrote an internal report leaked to extinction rebellion stating that they cannot rule out catastrophic outcomes where human life as we know it is threatened nothing to worry about there that's just human life as we know it's all have some other kind of grey human life where we get to where sweet 247 fires to it's and breathe through our anus because the air at our head level will be too polluted with ash sounds cool. but i want to leave you without any good news. and i don't consider reading to you as good news not sure where you stand on that that's up to you know the good news is that there are still a lot of human beings around the planet who are devoting their lives to solving this problem. but khanabad why probably doesn't. tell and john when you're a climate solution scientists probably doesn't put a lot of backs on mattresses no to me. but yes all day every day there are people trying to save us from ourselves the latest effort to decrease the carbon in the a

earlier this year j.p. morgan chase's economists wrote an internal report leaked to extinction rebellion stating that they cannot rule out catastrophic outcomes where human life as we know it is threatened. nothing to worry about there that's just human life as we know it so we'll have some other kind of great human life where we get to wear sweet 247 fire suits and breathe through our anus because the air at our head level will be too polluted with ash it sounds cool but i don't want to leave you without any good news and i don't consider breathing through your goodness not sure where you stand on that that's up to you know the good news is that there are still a lot of human beings around the planet who are devoting their lives to solving this problem i can about why i miss probably doesn't. challenge on when you're a climate solution scientists probably doesn't put a lot of backs on mattresses know what i mean. but yes all day every day there are people trying to save us from ourselves the latest effort to decr

j.p. morgan's goldman sachs h.s.b.c. deutsche bank b.m.p. pare about that they all go away they disappear they collapse. is of course your own bank so what happens in a post banking post be out world like how much entrepreneurship a flourishing of like fraud free or certainly reduced fraud and vironment like what happened i don't think we're going to see a post fear i think fear will survive and it would just be in a different format since the fear that you're going to see is going to have less freedom less over and see less privacy and lots of really horrible features built into it. and if banks go boss this is not the the banks go away is that the banks have a choice of 5 or adjusting to the central bank digital currency they don't get a super subsidy they they're no longer too big to fail because the central bank can just let them fail and there's a way of you know auctioning off all the debts and replacing money with a central bank digital currency so it actually drives banks to be more honest and if they don't. when they're not too big

j.p. morgan's headquarters and just like start. start some sort of riot for for the bankers and you know in case for the audience just so you know we are in north carolina which is hurricane alley so you could hear a real live hurricane coming through right now as we speak i know simon this is probably your 1st hurricane you may have experienced ever. it is well let's talk further about these these futures contracts and the whole derivatives space because other than this notion of an e.m.p. or the whole internet going down one thing we always hear from naysayers is that bankers are going to take over this and they're going to manipulate it like gold and silver and that this is that thus a reason why one should not own bitcoin do you agree with that how do you respond to that argument and the way i would respond to that market now argument rather is the same for every single market so i used to be a market maker on the london stock exchange and my full time job was to manipulate the price of stocks and shares up and down so if someb

shut down the economy seemingly because of a very aggressive newly concocted flu virus citi group j.p. morgan morgan stanley b. of a goldman sachs per the comptroller of the currency i want you to know this 8 years and 2019 each of these 5 mega banks held something else like at least 30 trillion of notional derivatives each representing 83 percent of all banking derivatives this is a fiscal powder keg i mean the owning powers behind these banks and that's essentially national central banks are pulling the plug now performing a controlled demolition if you will of unsalvageable debt and it fizzes and other structures in this wider economic system the fed already pumped over 9 trillion into this broken repo market since september 17th i think of 2009 big banks will get another 4 and a half trillion in bailouts due to this shutdowns of facts means main street. meanwhile will get a 4 sickle fraction of this the same as 12 years ago as far as patterns are concerned i.e. a massive further wealth transfer taking place to a small elite in route to collapsing the system to erect a new post debt jubile

francine: thank you so much, karen ward, chief market strategist at j.p. morgan.en ready for his keynote speech. ♪ experience the ultimate sports hub. where you can find games, news and highlights. all in one place, right on your tv. the xfinity sports zone. use your voice to search every stat and score. follow the teams you love. and, even get notifications with breaking news alerts and more. with the xfinity sports zone everybody wins. now that's simple, easy, awesome. say xfinity sports zone into your voice remote today. francine: economics, finance, politics. this is "bloomberg surveillance." i'm francine lacqua, here in london. u.s. futures drift after the s&p 500 failed at another attempt to break a record high. this comes as chances for a deal encumbers -- on congress diminishes in each passing day. the turn of the democrats. >> for everyone who supported other candidates in the primary, and to those who may have voted for donald trump in the last election -- >> the failed federal government that watched new york get ambush by their negligence and then watc

joyce chang, is the chair of global research at j.p. morgan. and is one of the leading analysts on china's economy anywhere. she is up top ranking's institutional investors for emerging markets. and before joining j.p. morgan. she was managing director at merrill lynch. an assistant director and also an adjunct professor of monetary economics at the university of berlin. where he served as a tenure full professor. he's previously taught at princeton as well. and rutledge, is a founding principal of a 20 -year-old credit rating advisory firm, spectrum pretty she is an expert on logic of capital market development party for the u.s. senate and an advisor to hong kong's monetary authorities and is just one of the leading experts on all issues related to credit. overnight is director in these firms china market research. he is also nonresident adjunct fellow with us in the trustee chair. previously logan was head of china research for global advisors and with mccarthy research both in beijing and he's's 20 is from hong kong today. i'm going to turn

companies including j.p. morgan chase amazon and google have formed a group they say is aimed at hiring more people from minority communities in new york new york city mayor bill de blasio announce the diversity push at a news briefing on tuesday the so-called new york jobs seno council and the hire 100000 people in low income black latino and asian communities by 2030. and up for we have time for 4 more to check out our website at 8 of the dot com fast with us from mean the team it's goodbye and. this woman is on a mission elect child ellison's new home. whether they're used for work or as tourist attractions in thailand the terms are often severely abused to the animal welfare activist for demises complex multi-mission in her camp elephants can finally move freely again in 3000. and 16 or. on d.w. . look closely. listen carefully to the soon to be sure to be a good. place to discover the a. place. subscribe to the documentary on you tube. i think it's everything challenging i think. so much different culture betwe

companies including j.p. morgan chase amazon google have formed a group they say is aimed at hiring more people from minority communities in new york new york city mayor bill de blasio and next that i breath and push at a news briefing on tuesday the so-called new york jobs. to hire 100000 people in low income black latino and asian communities by 2030. and up fully have time for a few more to check out our website at www dot com with us from maine the team is good by and i can't. believe. i'm not laughing at the germans well i guess sometimes i am but mostly i'm laughing with you the german thinks deep into the german culture. take those grandma day oh here you go it's all out there no i'm rachel join me to meet the german buddies of course. germany which. any time i must latest. news video. you have the back of the. songs to sing along to download to those to come to you from super. to. have varied courses clips into active exercises are available and d.-w. dot com slashdot internet and on facebook and am still. b

from j.p. morgan asset management. trade diana is talking about. hungary, check, poland, romania, bulgaria. they may be the top five performing em currencies. and it is all a leverage euro play. we have delivered gains of about 6.5% out of hungary, the czech republic, 6% from poland and 5.6% as well. they have big foreign-exchange moves. tom: when i go there, i go to the euro versus the hungarian form. it is really linked to real estate in europe. i don't pretend to understand it fully. but you have hunger strikes in europe going through july. jonathan: and the weakness you're talking about reflects concerns going to turkey, south africa. south africa down about 5.3% as a courtesy. the turkish lira down six percentage points. betweenthe difference story leverage to europe and leverage to the deficit countries like turkey and south africa. tom: on a day like today, i look at the chart this morning. i look at the turkish stock exchange which in turkish lira is actually pretty good. then you converted to u.s. dollars which is easy to do on the bloombe

joyce chang is a chair at j.p. morgan is one of the leading analysts on china's economy anywhere. she helped top ranking institutional investor survey emerging markets, and she come before joining j.p. morgan was managing director of merrill lynch. helge berger is that the economics in berlin where he served as a served as a tenured full professor. he previously taught at princeton as well. and rutledge is a founding principle of a credit sector. she's an expert on the logic development testify for the u.s. senate advisor to hong kong's monetary and is just one of the leading experts on all issues related to credit. logan wright is the director of the rhodium group. with research she's a nonresident adjunct fellow. beasley logan was head of china research for global advice will advisors in beijing. he is joining us from hong kong today. so i'm going to turn things over to joyce first. and then we will look at questions from the audience. so joyce over to you. >> thank you so much scott. it is a real pleasure to be with you scott i want to congratulate you with all of the work you

bank here in the united states j.p. morgan are saying that inequality came to a degree where it's really problematic so you have americans you have politicians and you also even have people on wall street crying for change. so the gap is widening to in new york thanks for talking to us. german biotech firm cura bock is aiming to raise up to $245000000.00 in an initial public offering in the united states the company is planning to use that cash to finance the development of a covert 19 vaccine which it hopes to have market ready by the middle of next year it's not seen as one of $165.00 currently in development around the world karabakh is hoping to show it can produce one that works at lower doses than those of its competitors. now whether your country is in the grips of a lockdown or just coming out of this chances are you've been wondering what if this happens all over again as fears of a 2nd wave of coronavirus grow one country is ready experiencing what it's like a strain after a sharp rise in infections authorities in th

who we speak to now is david kelly, j.p. morgan asset management. the market has taken a few hits this week. it is trying to. push higher with equities but failed. what do you make of that? david: it is probably too high to start with. we have very easy liquidity. it makes it hard to go into the bond market. the most important sectors of the u.s. stock market basically on the upside of the earnings season, but there is an awful lot of uncertainty. we shouldn't be knocking on the door of an all-time record high even the uncertainty. i think the market is ripe for april but anyway. alix: what happens if inflation moves higher? david kaplan said he would be ok with a 2.75%. you look at the 10 year break even, it is higher. what if it is real and sustainable? david: it is a dangerous game we are playing here because over the course of a pandemic we ramped up u.s. federal debt tremendously. about 77 percent of gdp as a debt to gdp ratio year ago to about 108% gdp this time next year. that is an enormous a lot of debt. interest rates are very low. but if

but j.p. morganaking clear that it is a short-term outcome versus a more medium-term outcome dampened by this slow economy. lisa: inflation in bug spray is a serious concern in the adirondacks. i will say a mark of 2020 is that the bad hits keep on coming. it is almost comical. there's an asteroid now heading towards her. but there's also a back to back -- towards earth. but there's also a back to back pair of storms heading towards the gulf. it sort of shows what 2020 is all about. what more bad things can happen? tom: i am going to bring that right over to the two storms, and i noticed in jamaica today, cloudy through the whole week. one of the storms is south of cuba right now. but the storms, and you fold over into the quiet across america, and i think obscure by the democratic national convention. obscured by the republican national convention is a nation running out of that first tranche of stimulus, and you can feel the hardship out there. lisa: i was particularly moved by a story in a study b

j.p. morgan said it could go to 100 if abe bows out and trump loses. what do you think?d disagree. we would disagree with the read of the situation. so i think one has to remember that with abe going, it doesn't mean that the b.o.j. is changing and doesn't mean that the three arrows are being broken up. much more likely that there is a continuity candidate, you know, would there be a replacement who is likely to not want any of those three arrows to remain in place? you know, it makes their job much easier to provide the conditions for economic growth for an improved outlook for investment. i would assume that this is what every politician would want to be able to have as their -- as their goals. so to continue with that is the most likely outcome. so i would be very surprised with that outlook for dollar-yen unless the outlook for dollar-yen is really premised on a structural weakening of the dollar rather than a real strengthening of the yen. anna: you mentioned the three arrows. the aggressive monetary policy, fiscal consolidation and the growth strategy. so we'll see

i mistakenly sold j.p. morgan because i thought congress would fail to compromise without more stimulus, we're looking into a body blow to the entire financial industry. i thought we would be hearing about the possibility of dividend cuts and president trump comes out with executive orders that will give people $400 a week in addition to unemployment insurance payments and nobody is freaking out about the banks. when you look at the fine print, it will take weeks to set up this program there might be legal challenges. states have to kick in 25% of the cost or get nothing, which is money they probably don't have doesn't matter theinertia i sold j.p. morgan to gold mman sac sachs. i was too cleaver by half. turns out the group trades in lock step even american express. two industries that have been brought to a skeecreeching halt the pandemic and even those are working. finally the ragged retailers that keep climbing based on what clearly people are betting on a rapid recovery but i can't point to any news that woul

lobby all have too much influence here in congress this bill 252500 1000000 in the kinds of things j.p. morgan so you think the kinds of things that talking about are not small banks so i don't know that anybody with a straight face can say this is an answer to that question this is. couching small banks in order to give big banks relief from these write necessary regulations here thank you so much take care. in response to obama's one effort to clean up influence peddling in washington lobbyist simply deregistered became more secretive thousands of lobbyist said we're not even going to comply with the registration system and we're going to move into the shadows and continue to influence government but without disclosing what we're doing on paper there are something like 9000 or 10000 registered lobbyist but in reality that the number is closer 210-0000. on paper lobbyist spend about 3000000000 or so every year influencing the federal government but in reality that number is closer to 9 or 10000000000. who served in the bush administration now. and general company that's received a lot of mili