maybe manus and jamie dimon no. evy stays with us.up next, has the pandemic halted progression toward sustainability? what this all means for green investing. this is bloomberg. ♪ annmarie: good morning. this is daybreak europe. i'm annmarie hordern. the combination of consumer pressure, increasing regulation and corporate response seeing that progress is continuing. the company's report highlights technology is a key driver in says plastic can be a solution as well as a problem. we are back with evy hambro from blackrock. it's technology, plastic, health care and fast fashion that you are seeing these trends. what kind of companies in this fund would you want to be exposed to? evy: yeah, you are completely right. we are seeing this huge trend amongst companies to think about their impact on the world. how are they doing business and how does business work with life? and sustainability is the key to unlocking that. business can only coexist with life is businesses thing about life in a more sustainable way. when we are think about tha

as jamie dimon says, do your homework before investing.ts how much nian cat is actually worse and if you want to hang that art on your wall. there is no price that really is too much for the meme nian cat. amanda, thanks very much for spending this half hour alongside me. i am matt miller in berlin. this isberg. ♪ -- this is bloomberg. ♪ >> it is 2:00 p.m. in new york, 7:00 p.m. from london. this is bloomberg markets the close. i am caroline hyde. >> and i am taylor riggs. >> let's go to the city lab global cities summit. right now the chicago mayor, federal reserve bank of san francisco, mary daily. let's listen in. >> in full relief, multi-dimensional. at the bottom of the economy what workers were seeing was a complete lack of access to a safety net. working incredibly hard and still not able to make ends meet even though they knew that their work was essential, right? now we all see that some of the work that was least visible to us is actually essential to our safety, our health and our well-being. it is often done by women and worker

jamie dimon tells bloomberg he's not a buyer of 10 year treasury.he ecb says the central bank can and must take action to battle the threat of rising yields. and germany's angela merkel faces growing pressure to ease germany's covid fears as the finance minister calls for a quicker reopening. good morning. it is just the 7:00 in london. it is tuesday morning so let's can some breaking news. some numbers from the u.k. corporate. this is in the listed hedge fund space. full-year net inflow, $1.8 billion. just getting these initial numbers coming through. the funds under management, $12 3.6 billion. we will talk about that. we will also talk about what has been a difficult time for quan's over recent months. what the rise of retail investors and that grouping taking aim at hedge funds, with that means for the hedge fund world. we will talk to luke elliott, the ceo of man group. that conversation at 8:30 a.m. london time. we are also getting numbers from taylor wimpey. this is the residential construction real estate space. full-year revenue at $2.79 bi

jamie dimon says lawmakers should be conscious about overdoing stimulus efforts. vely with bloomberg's ed hammond yesterday. jamie: getting through covid is critical, and we are still in it but god knows it looks like there is light at the end of the tunnel. it is not a binary suspect -- it is not a binary subject. democrats and republicans are sheep passing in the night. there are complaints about the bill that have nothing to do with covid. are a lot of people suffering that need help. unemployed definitely need help. small businesses definitely need help. he bought the lower end need help. women who had to go home and stop working definitely need help. half of the states, revenues went up, they did not go down. do they need help? we are just throwing money. there will be another side of that mountain. they should be cautious about overdoing it. get the country rolling, but try not to overdo it. ed: is at the risk exactly that? if you have places that do not need help, you ever flood the system and create a risk of inflation? jamie: if you look at what is in the

jamie dimon went from bank one out of the midwest to commanding fortress dimon at j.p. morgan.on covid. >> we are still in it, the god knows what it looks like at the end of the tunnel by the end of the summer or something like that. it is not a binary subject. democrats and republicans are like ships passing in the night. there is legitimate complains about stuff and this bill that have nothing to do with covid. there are a lot of people who need legitimate help. both of those are true. the unemployed definitely need help. small business is definitely need help. women who had to go take care, they definitely need help. i don't know if you know this, but half the states' revenues went up, not down. do they need help? there should be questions about overdoing it. yet us through the problem, get the country going, but try not to overdo it too much. >> but isn't the risk that if you have places and states, people that don't need help getting the help, you create this huge risk of inflation? >> and the system already has a little of that. the system looks to us like $1 trillion uns

jamie dimon, thank you for joining us this morning. >> thank you, jamie dimon. >>> ahead pulitzer prizeluuya just won a golden globe for playing fred hampton in "judas and the black messiah." >> i hope people can see how brilliantly he loved. >> we'll talk to the film's director, chaka king, about how they're trying to correct the narrative around the black panthers. you're watchi iing cbs this morning. we thank you for that. we'll be right back. succeed ♪re 5 more that don't ♪ and so are lost for good ♪ ♪ and some of them are pretty flawed ♪ ♪ and some of them are slightly odd ♪ ♪ but many are small businesses that simply lack the tool ♪ ♪ to find excited people who will stop and say 'that's cool'♪ ♪ and these two, they like this idea ♪ ♪ and those three like that one.♪ ♪ and that's 'cause personalized ads ♪ ♪ find good ideas for everyone ♪ ♪♪ even thehe smallest t surprise. can make a a big memorory... worthyhy of passining on. kikinder joy trtreat plus t toy a littttle surpre goeses a long w. wow. thahat's a low w price. oh wow, , that's a l low pric. whatat? ooo, that't's a low prpr

tom: maybe chime in -- maybe jamie dimon will make a point.onathan:jonathan: i'm sure he will make several points, well-made. [laughter] lisa: i am missing something. tom: i am going to use that tonight at the dinner table. "that was a point well-made." [laughter] jonathan: coming up jamie dimon later on. equity futures up 39, we advance 1%. yields up four points. 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. jonathan: from new york city for our audience worldwide, here is the price action. live on tv and radio. up 1% on the s&p 500, up a little more than 1% on the nasdaq. a rally in the small caps. emerging-market equities up 15% to 16%. on the month, it is a reset for em. does the

that was jp morgan ceo jamie dimon speaking with bloomberg's ed hammond.t was just fascinating that he kind of stepped in right at the end and made that point. he's made it before, and then just stepped in again. i wouldn't be buying treasuries right now. he's not biting off that point. so far he's been -- not backing off that point. so far he's been proved right. alix: also saying at some point in the recovery, we will get better. we need help, but not all of the help in the bill. sonali basak is still with us. what were some of your key takeaways? we have gary gensler currently talking about the order flows as well. sonali: sherrod brown talked to mom's ago about how most americans can't come up with $400 for an emergency response. the idea of how much stimulus is enough and how to get it to the people who need it, that was a big topic they talk about, and jamie dimon did talk about over flooding the system. the payment for order flow thing has been asked ordinarily controversial. it doesn't seem that difficult to put more disclosure behind these process

rishaad: jamie dimon also telling us how j.p.oing and how he is responding to increase competition. >> j.p. morgan is doing great, we are doing fine. but you have fintech, big tech, you saw walmart recently. we have to be prepared for intensified competition and we are ready for expect to win. >> the growth of some of these fintech companies, strike, for example, so exponential. i look at what some of your competitors have done, morgan stanley with e*trade deal. do you think there is a case that j.p. morgan should go out and buy one of these giant in tech companies and plug it in and you are good to go? -- fintech companies and plug it in and you're good to go? >> we look at everything. some of these people do a good job. it is usually not better or cheaper but ease-of-use. i assume they are comping. i have built competition my whole life. we are open minded to acquisition and open minded to building in ourselves. we tell people in this very room we should do what we need to do to win, in technology, people, systems, marketing, a

haidi: jamie dimon there speaking with ed hammond.lobal covid cases rose for the first time in almost two months in the past week. the world health organization says it might be because some countries may be letting down their guard as new variants spread. u.s. officials are monitoring a new variant that has appeared in new york. let's bring in our senior editor in new york. what is the who hypothesizing about the rise we are seeing in cases? guest: the who is concerned because they see this rise after things had been flattening, particularly in the americas and southeast asia and their concern is people are starting to let down their guard. countries and u.s. states are lifting some of those restrictions and people are feeling complacent. there feeling there is a vaccine and things can go back to normal. and they are saying not so much, especially with these new variants. we heard from dr. fauci and the cdc director who said, really worn, that it is not time to start letting down your guard as the states have to not lift restrictions

at 1:30 p.m., jamie dimon, ceo of jp morgan, will be joining us on bloomberg television. lot of questions about the economy, about the competitive landscape. i know you are not watching this perhaps as closely as bond yields, but i find it interesting, the new entrants into this race with data being the key deponent of what establishes one player -- key component of what establishes one player in the fintech world from another. jonathan: on the bond market, i think it is always interesting to hear what your -- what mr. dimon has to say. tom: he has an interesting take, and it is wrapped into all of his work of running a business. the most important thing, and observation on james dimon, he really points out it is day-to-day hard work to run a bank. how does walmart jump into that without the experience, the day-to-day grind of the systems of successful banks? jonathan: well said, tom. is it too early to give you an estimate on payrolls? tom: way too early. lisa: go for it. jonathan: 180,000. tom: i've got to get to thursday on the tots. gareth is going to be out there aga

jamie dimon coming up later on bloomberg tv and radio. we are higher on the equity market come on the s&p 500 come on the nasdaq. you brought up the nasdaq earlier. last week hammered, down around 5% on the week. tom: i'm really glad you bring up this partition in the equity markets. the answer is, as you say, we had a huge swing at yields last week and the equity market, we visit right near record highs. it comes into this new earnings visibility. what is the most important thing today? it is march 1. jonathan: it is march 1, and that is the most important thing. lisa: thanks, tom. tom: we get earnings visibility in a gdp economy. jonathan: i just wanted to get clarity. you never know. tom: it is back. jonathan: you are back, too, clearly come in a big way. do you want to tell people who garrett is? or do we move on? tom: everyone knows who gareth is. jennifer knows who gareth is. jonathan: the timing is now. why? >> first of all, it is very important, the fact that we are already going through that second phase and we are seeing the lig

an exclusive conversation later with jamie dimon.he has plenty to say on this topic as well. this is bloomberg. ♪ >> we have reached a tipping point and we will be closing a third of our branches in direct response to customer demand and behavior. even before the pandemic, we saw the number of people visiting branches reduced by a quarter. we have seen a huge pickup, a seismic shift. with covid, we have seen an acceleration. anna: that was the ceo from the bank of ireland. shares getting a boost, moving to an upside, 2.5%. the european equity markets more broadly moving higher. let's focus in on europe. peter chatwell is still with us. i wonder what this looks like in terms of your expectations for bond stocks. you said this is a warm-up. this looks at her for the banking sector in 2021. peter: we should all be getting excited about the prospects of financials in equity markets as well as the read across to credit markets. this is going to be a quarter of very vigorous growth and then recovery in inflation. as the steepening goes fur

all these relief programs they go to banks 1st and they don't distribute the whole lot to i did jamie dimon become a billionaire he didn't actually produce anything he just keeps all the money that the government prints. and. did the thing. kind of. thing a little commanding. a dance you don't consume don't jump into can do it on just a deal in the sand on the most room in that are equal in its own systems under what he calls a stance me. because i don't believe then certainly in the old movie that devotional moving in is the solution seeing times i would answer to all. rome. in 2008 dr helmut kantor died in germany aged 80. is a bitch or is described the well known psychologist and sexologist was an advocate for permissive sexual morality and humanitarian sex education. in germany cantor was lauded as a hero of the sexual revolution in the 1970 s. and eighty's though devoted a great deal of energy to him and to the german people numerous books and appeared on many t.v. shows as an expert he proved his theories by setting an example as a gay man he adopted and raised children so by european

jamie dimon is exploring the possibility, although obviously, he gets the benefit if the slr is extendedromaine: you can check out his columns every day, always smart based on what's going on out there. coming up we talk about the global chip shortage. we are going to talk about what it could mean that countries are pledging to work together to ease those shortages. this is bloomberg. ♪ romaine: a lot of talk lately about the relationship between the u.s. and china, the chip sector and everything in between. we have just learned the biden administration has advised some suppliers of walworth -- of huawei tightened restrictions. tensions still under way. joe: absolutely. it reminds us that the u.s. has a lot of dependence on taiwan, china, the center for technology, and it is becoming both an economic story and increasingly, the recognition that it is a national security story. caroline: it is sort of enter that u.s.-china trade tension is what we have to keep an eye on. joe: joining us, a bloomberg opinion columnist who has been writing a lot about semiconductors. thank you so much for j

. >>> plus, jamie dimon, ceo of jpmorgan chase, tells us about a new initiative to help minority businessrd-winning actor daniel kaluuya and director shaka king about their new movie "judas and the black messiah." >>> that's the "cbs morning news" for this wednesday. thanks for watching. i'm anne-marie green. have a great day. . >>> live from the

let's take a look at jp morgan this is also the birthday week of albert einstein jamie dimon likes ton that make things as sir as possible and no more. they put that into use e equals mc 2 for jamie dimon is invest during a downturn many asked what is he doing. they increased investment spending two or three times over the past years now it is looking extremely fortuitous, all this investing just at the time when tough benefit to vaccines and stimulus and better economic growth maybe jimmy diamond is the einstein of banking object maybe he is holding a four-leaf clover but the whole tech investment spend aspet is certainly a good way the use your capital. >> always good metaphors, mike is this your top pick in the sector right now if show, which others do you like >> look, our top pick, you have a lot of what jp morgan has and a lot of different things is bank of america. it has been our top pick subpoenas the start of the year. they are the most sensitive to interest rates a couple fomc members are thinking about rate increases in 2022, 2023, any increase in rates certainly helps ban

treasuries at the moment, like jamie dimon said. say low -- stay low where they are, they rise and you lose from a price return perspective. duration is something we need to manage very prudently in our portfolio and at the same time, if you look for hedges for reflation and so far, equities stands out. 2010 proved to be a good year for equity markets as was 2014. clearly, the cursory position toward equity as far as we are concerned at j.p. morgan asset management. again, probably when you see u.s. real yields start to get in positive territory, from that point onwards, we would expect investors to get back on the u.s. treasury market because there, you would have some healed cushion in this market and the fed to start intervene because the u.s. has good economic performance in the fourth quarter, but it is still needing low rates to finance the fiscal impulse joe biden wants to employ. anna: how do you keep rates low enough to finance that fiscal burden one the economy is recovering at the speed the economy recovering at? that see

jamie dimon is very focused on the seven top. own operating committee is 50-50 gender balanced right now, so that is a good start. and we have started to include a tracking measures as well as including the statistics, as part of ati, as part of performance management, which we believe will make a big difference. haidi: you talk about change needing to come from the top. there has been concern from the very top here in australia, some criticism of working conditions and toxic working culture in canberra. is that something you haven't observing -- is that something you have in observing, i'm keen to get your views on that? >> i cannot say i am observing every other firm in every other part of the society. but i do think there's a focus on this now. and i do see a significant change. i see in our own organization. and while there is a lot of work still to be done, i would say we are definitely moving in the right traction. and things like this tracking as i said, monitoring and creating troop focus on the actual numbers, is going t

people are buying the 10-year, even if jamie dimon doesn't want it, and the yield is coming down.rude hovering around $60 a barrel, 60.83 for a barrel of nymex prude in new york. senior executives at goldman sachs with the latest being the bank's chief counsel leaving. more on those departures. let's bring in our reporter. over the weekend, we had reports that the head of consumer banking was leading, cohead of asset management yesterday, and now general counsel. is this a trend, what is going on here? >> to be honest, it's a bit puzzling. departures this time of year are not unusual but the nature and profile is striking. the bank had a good 2020 good first quarter by all accounts. stock is ever higher, so to see this at a time when we should be expecting -- matt: why is this, are they getting pay packages elsewhere? it wouldn't really explain karen seymour's exit, unless we know her destination. >> if you look at it in the broader context, there is no doubt, if you worked at any wall street firm in 2020, it was a good place to be. everybody did well. a lot of those people are al

then, in the investors severe, jamie dimon at various points in the last few years has said it is notf tea, a terrible score of value, and at one point, a fraud, although he walked back the last comment. finally there are regulators, who are waiting to see how it develops, while some are morning those who buy a could lose all their money. what are the charges against bitcoin? bitcoin failed in its original goal of displacing the dollar. few people use it to transact because it is too volatile. instead it has become a purely speculative asset. people by hoping other people will buy it from them at higher prices. that is called the greater full's theory of investing. like a ponzi scheme, it requires a constant stream of new money coming into make an increase in value. when that stream stops, the critics warned the whole thing might collapse. at the same thing -- at the same time, all those computers mining bitcoin require vast amounts of electricity. the network probably consumes as much energy as the country of argentina. its thirst keeps on growing. perhaps the hardest is that bitcoin

tom: to the banker jamie dimon speaking on fortress america, and certainly the news has been much better the pandemic . we see it in the markets. a big date yesterday and follow-through today, negative s&p. right now, barry ritholtz of bloomberg opinion and his wonderful longform conversation masters in business, i cannot say enough about this. a conversation with one of the most misunderstood people on wall street, peter lynch of fidelity. barry, i want to go back to the time of magellan, 1977 to 1990, where peter lynch reinvented portfolio construction. he had the courage to overload on growthiness of fannie mae. at the time that was a revolution. barry: it certainly was. he took over magellan, it was a $20 million fund, not well-known , and for good reason. his approach was systematic and insightful. some funds have 60, 70, 80 different holdings in the stock. he ended up with a thousand. he would buy a broad cross-section of holdings and then turn around and pare what was not working. it was a savvy way to do it. tom: he once said it a meeting, i do not care about your number one hold

that is what jamie dimon wants to hear, he wants his people to say we will get back in the summer.what i found fascinating in my sabbatical that everything is a story, everything is one person story in the pandemic, whether it is a fancy executive or an employee deciding bus or subway, everything is a micro story. they all have to sum up to a recovery. jonathan: i love that you're referring to it as a sabbatical. i will be away. will not be here next week. can i tease my show quickly? tom: please. jonathan: blackrock ceo rick rieder joining us. i will have a tie on on for my personal show. my tie will be off tomorrow if tom keene still has the beard. what is the latest? tom: the latest. we really have to pick up as people wake up across america. it is really good. we have a substantial number, over 100,000 saying keep the beard. the lose the beard has been very stable. jonathan: has a guy called mike wade in yet? -- weighed in yet? tom: i do not believe mike. al from new jersey, i believe. on radio 106,000 people say keep the beard, lose the tie. al from new jersey says maybe not.

the statement from jamie dimon said that on streets, online and in many asian small businesses were seeingassault, verbal harassment and refusal of services. he went on to write these acts cannot and will not be tolerated. bank of america had a similar statement saying they will not tolerate racism in any form and they will remain committed to a more equitable future by taking action to address critical issues. these were memos to staff that bloomberg has had access to. at least eight people have been injured in atlanta. six of them asian women. this is part of a growing sequence of violent events that have taken place in the u.s. that have concerned many groups including stop aap i hate, a group that tracks asian violence all the way up to the white house. they have received almost 3800 reports of hate incidents since march 20, 2020 -- since march 2020. haidi: su keenan in new york. we know eight people have been killed in the incident in atlanta. let's take a look at what we are watching out for in terms of the market open. sophie: we are watching australian travel companies which may mo

. >> one more question, i saw an interesting story on the bloomberg, jamie dimon saying they would be less likely to take institutional deposits. there's also been talk about banks being less likely to lend certain assets ahead of the slr expiry or exemption expiry. what do you think that will show us in the markets? >> speaking above bogeyman's the slr extension and the choice by the federal reserve not to extend it is something of a billion men. in reality, the supplementary leverage ratio is not a binding constraint for the vast majority of banks. there's been plenty of arithmetic to indicate that. to use a concrete example, a cfo indicated otherwise as well. i think the lack of extension of the slr exemption is indicative of perhaps a less friendly regulatory climate to the big banking sector, in reality, the failure to do so is not the event in and of itself. >> thank. -- thank you. still awaiting president biden. he will be joining the world in his first press conference since taking office today. it seems very late. in respect to another presidents had their first press confere

while not exquisitely mentioning georgia, ceo jamie dimon release this weaselly statement saying we encourage our employees the fundamental right to vote and prevent standards that may prevent them from doing so. i'm going to take my moral cues from a guy whose firm is cashing in the on slave labor inve chin. but even sleazy year is this man. hillary donor mark benioff who runs the company sales force. limiting equal access to voting? false. false. false. and yes, false. but consider the source. they oppose voter i.d. requirements for voting but are one of the firms actually working on future vaccine passports. that is medical ids that will in the future gave you your freedom back! that's what they are saying. to travel and attend large events. these people are total frauds. once you scratch the surface, they have zero credit ability. the same as i mentioned earlier with the woke sports media, with one cnn sports contributor announcing another way to bully georgia.. we can start by stripping atlanta of major league baseball's all-star game which is set to takeba place in the cy in july. by th

he is out there for the bank, out there for stir jamie dimon, talking to their customers. jim glassman, good morning. what do you see across this nation? james: you see the gdp of the goods economy is higher than we would have been had there not been a pandemic. it is the service sector that is struggling. gdp in the service sector is down 7.5% from where we would have been. we know why that is. we are asking restaurants, bars, fitness centers, the hospitality sector is struggling. that is why i think every day that passes i'm getting more hopeful because i see the way forward. i think by the end of this year we will have unemployment back where it started because we get our hands around the virus and we help the people who are still struggling. jobs will come back. tom: i know you're not on speaking terms with michael from the university of chicago, that is understood, but when you hear for rowley say we are going to introduce jobs through 2021, how do you respond to the young turk? jim: i think you finally figured it out. this is a natural disaster. this is not a busines

morgan did a live is for jamie dimon is saying bitcoin bad compasses all bad about the same time hisoney in developing technology around bitcoin's technology than any other bank in the world. they do have a habit of saying one thing while doing another. so i cannot say for certain what's going on the bank of america. what i can say is every time someone has provided financial advice historically, they have been wrong and at the expense of the people that been advising and time will tell bank of america is advising people correctly in this instance or not. so far, everyone who has done it has been wrong. kennedy: what is this do for bitcoin and for crypto currency in general? is it only good for bitcoin? or is this good for wisteria and other coin? which the young people coin love. [applause] >> team up bank of america's tenure, thank you bank of america, just the fact you are having this conversation is a good thing for the ecosystem. as they say all presses good press but we are continuing to increase awareness. my estimates are roughly 10% of americans now own some amount of crypto

by the way, so does jamie dimon and a lot of other e people.as made it easier to work from home. it's cheaper on the company, it's more -- there is some lifestyle benefits to it, being with your kids more although you do have to be back in your office sometimes. in some jobs you have to be in the office all the time, some jobs you could do a hybrid, and i think that's what they're grappling with, liz, at goldman. and solomon has taken some heat. he also used the corporate plane to go to the bahamas. by the way, he does work in the bahamas. i don't know why people bust these ceos' chops. they're obviously targets. i tell you, i've criticized david solomon for some of this woke stuff, the guy works 24 hours a day. some of this is so ridiculous. anyway, liz, that's where we are with this. interesting story out of goldman sachs. liz: you know, people denigrate it and call it woke, some people call that evolution, everybody. charlie gasparino. all right, markets are coming off their highs. the s&p has just cut its session high in half. still up 10 p

morgan chase ceo jamie dimon defending the right to vote adds several states consider voter suppressions subject. dimon spoke exclusively with cnn telling matt egan voting must be accessible and equitable. quote, voting is fundamental to the health and future of our democracy. we are a stronger country whenever citizen has a voice and a vote. social justice has been a balancing act for so many companies. many made statements in support of the black lives matter movement last year but ceos have been relatively silent after georgia passed restrictive voting laws last week. coca-cola and delta facing criticism they didn't do enough to oppose the legislation. dimon's statement did not specifically call out georgia's voter suppression law. it's not the first time that dimon has spoken out on voting, he urged americans to respect the democratic process during the 2020 election. >>> for the very first time we're getting an inside look at one of the places holding hundreds of migrant children. a customs and border protection facility in donna, texas, housing 4,100 migrants with the capacity of

that echoes jamie dimon when he said he wouldn't touch treasuries with a ten-foot pole.th of the american dream and criticism of conglomerates. that's coming up on "squawk box. looking at the bonds and his comments about it were pretty interesting. >> especially given the outsized focus on the bond market, especially in the month of february likely to continue into the month of march as far as where the market goes from here. even though the 90-year-old billionaire covered great ground in his shareholder letter, i think there were some who were left wanting more on the topic of leadership and succession is that something we expect berkshire hathaway to address in the next meeting coming up in may? >> i do. i would expect all of those things to come up. some people thought maybe he would weigh in more on things he's seen politically but the annual letter isn't a place he's done that in the past. in the past it's been the interviews he's done around the release of the letter. he's usually with us on this monday morning in fact, this is the first time in 14 years he won't b

that echoes jamie dimon when he said he wouldn't touch treasuries with a ten-foot pole.ot of commentary on this. i should point out, this is the first time in 14 years buffett hasn't joined us live on the show for three hours to talk about this >> that's true >> i've got a question, because i -- like you and so many other saturday morning, our weekend reading. the apple stake, which you pointed out, now almost considered one of the berkshire companies. in a way, he talked about it as one of them and what i'm curious about is long term, does that mean he thinks to himself that he can sell out of that position at any point that would be the benefit of what then he later talked about, the conglomerates and everything else that you can get in and out rather than get stuck with something or overpay for something but i couldn't tell if he, therefore, loves apple the same way he loves burlington northern or, frankly, has to love burlington northern because he owns it, or whether he's going to try to build large stakes in other companies in a similar way. he did at one point sel

has been rising anti-asian sentiment and actions, violence as well, and i note jamie dimon wrote a memooday about this. you have been active in the field working toward equality. tell us what you were doing. >> if you take a look at public opinion polls, surveys put out by pew research, you can see the rise in anti-china sentiment, which has played out and made its way into local communities as well, not just on china policy but effecting the asian-pacific islander community. there is a strong statement put out that since last summer jp morgan has put out very clear targets that they would do quantified, and investments in local amenities, $30 million targeted at small businesses, affordable housing, looking at underserved areas. we had a lot of meetings today on the what we can do to address this, so part of this starts with education, working with some of the local, civil rights, and institutions in the community, but looking at some of the unity based approaches we can take. haidi: joyce chang, great to have you with us. coming up, the benefits outweigh the risks. astrazeneca's vacci

new york business leaders are warning governor cuomo not to raise taxes, jp morgan's jamie dimon andg the people who said a tax hike would risk new york's economic recovery and force residents to leave to lower-tax states. cuomo has said the west texas is still on the table. gamestop results may not matter. shares are up more than 930% this year. gamestop is hoping to attract gamers online. the company has closed hundreds of stores. that is the latest business flash. kailey: thank you. as ritika mentioned, gamestop earnings are out after the bell. we will get a look beneath the food after all the mania the last several months. and then, of course, fed chair jerome powell and treasury secretary janet yellen testify before congress in a few moments time. and we have the two-year government bond auction this afternoon at 1:00 p.m. eastern time. guy: here in the u.k. at 5:00 p.m. london time, 1:00 p.m. new york time, prime minister johnson will give a conference to mark the one year of the first lockdown. tomorrow, we get the german budget proposal. i think the supply side be fairly inte

and the fight with fintech, jamie dimon saying i expect to see very, very tough brutal competition inect to win, so help me god. we'll see how that plays out going forward, carl. >> yeah, fascinating chat with you and the squawk team earlier about how fintech is going to play in that, too. will, thanks nasdaq is up 350 we are back in just a moment how do we ensure families facing food insecurity get access to their food? we needed to make sure that, if they couldn't get to the food, the food would come to them. we can deliver for food banks and schools. amazon knows how to do that. i helped deliver 12 million meals to families in need. that's the power of having a company like amazon behind me. >>> a few moments ago, the nasdaq was officially down 20% from the high. that would put it on course to close in a bear market. >> i think that's certainly a realistic thing. >> we knew we were going to start looking at some of these anniversaries, but that's march 9, 2020, a year ago. i saw other screen shots this morning later in the session where things got truly ugly with the ten-year yield

at citi, and see how they're doing, but wells fargo, doing okay, and if you want to bet against jamie dimon, those guys know how to handle this stuff >> speaking of jpmorgan a 240-page report oust bank this morning on the internet space their top picks are google, facebook, amazon, peloton and twitter. and at the same time, jim, deutsch takes facebook to 38 a, that's going to be a street high, and the face of what we know is ongoing regulatory scrutiny. >> i think that this is precisely what i would do as an analyst. you let the ceos get grilled people start worrying about regulation a couple of days go by people recognize that that show is over. how are the companies doing? and it turns out the companies are doing quite well facebook, the numbers are too low. one of the things that is amazing about facebook, it's cheaper than almost every growth company out there. not the same for amazon. i think amazon is doing well apple is obviously service revenue. and twitter, what a great opportunity. jack dorsey on the hill, jack dorsiy gets grilled, nothing really happen, but we realize that twitte

and jamie dimon was actually talking about this earlier this week related to this is too much stimulusts out, is going to take off, and that's why we have a reasonably good chance of going into an inflationary period. because the one marker that's missing for us to really be at that point is getting unemployment down. and that is going to happen once people are vaccinated and getting back to work. so i think the market has to be very careful about what they wish for. they seem to be very pro-stimulus, but in the end that may not be a good thing for them. neil: you know, this has been disproportionately technology, scott. what do you make of that? >> well, it's transitory. i believe that it's going to be a great buying opportunity in tech, neil, sometime soon. probably not today, probably not tomorrow, pick a day, april 8th, if that's not a weekend. the reality is there needed to be a transition. last year besides say, march and april when we hit that record low, tech was the place to be, and it was a super easy trade. all you had to do was buy the qqqs in the nasdaq, amazon, google, mi

we shall see -- david: he's not the only one, jamie dimon has sellerly said -- essentially said the samee. >> yeah. i think the other thing is though i think there is a reck nation broadly, just taken away from this story, that you can save money as a company -- david: that's true. >> -- lower real estate costs, a lot less traveling by integrating the sort of experience of work from home, remote work with the office work. and i think that's going to have a, i mean, that's a whole other story the, david. that's going to be a huge issue for new york city and commercial real estate. but i think that's, there's also part of that is being looked at by goldman sachs and all the firms. so a good story by lydia. it's on fox business. david: i don't think we'll ever get back to normal, it's just that simple. this has changed everything, this pandemic. charlie, thank you very much. coming up, how the cryptocraze could lead to massive confusion when it comes to reporting americans' annual incomes. we'll explain after this. ♪ -- one of a kind. ♪ living in a world gone plastic, baby, you're so classi

seriously pull back the economy in -- in new york, signers of this letter include jp morgan ceo jamie dimonceo, citigroup ceo, jetblue ceo. what are your thoughts on taxes in new york and where they are going and the impact as the ceo's write? >> well, sure. we know that president trump's success in having the best economy in decades and really the lowest unemployment probably ever in history was because of the tax cuts that he put forward that incentivized these job creators to expand and create more jobs. you know, all of that is in jeopardy right now during a time where we are recovering. that should be a major concern for everybody because if we are trying to jump-start this economy and get us back on track and they're raising taxes at the same time at both the state level and at the federal level, you know, that's going to really slow down our recovery and it's going to hurt people who are trying to get people back in the workforce. new york state has a real big problem with spending. they want to put forward a 208 billion-dollar budget which is almost the same as california spends. ca

maria: jonathan, jamie dimon, the ceo of jp morgan, will say okay, i'm banking the chinese people. if it's going to be outlawed, then outlaw it. if it's not outlawed, i'm not gg to set up shop. what do you want to say to corporate america. >> if you're in anything tied to civil military fusion or industrial policies, that's where the problems are. if we build up industrial and technological capacity, transferred to their surveillance state, we've seen banks get tied into this already. you look at what's going on and you see fidelity backing hick vision, a lot of banks are going into companies that we know to be involved in the worst excesses of the chinese state. so policies will have to be tough. maria: policy will have to be tough or we will certainly keep spotlighting it. jonathan ward, thank you. we'll see you soon. we'll be right back. stay with us. maria: welcome back. the biden administration's tax threat last week, white house press secretary jen psaki announced individuals making $200,000, not $400,000, as president biden first said, will see higher taxes to pay for the in

many of the individuals you mentioned have been long supporters, jamie dimon and the capital allocationase the size of their fiscal location in new york city. now will be put on hold. we're already seeing high-net worth individuals, we are seeing corporations leave new york. this is another significant impact on the ability for corporations to operate, to be profitable and to attract individuals into the city to work there. so i think this is really, you know, a very devastating decision on the part of the governor that will impact new york city and new york state overall when you get corporations like you said, jetblue leaving and you get high-net worth individuals leaving the city for more advantageous areas. so i think this is a very bad -- maria: angela, this comes on top of proposals for tax increases not just from the biden administration on a federal level but in new york. >> right, it's a double whammy for new york taxpayers and finally people are standing up and saying that they've had enough. it's so important to remember that new york was hemorrhaging people even before the p

the fight with fin tech likely to intensify jamie dimon said the fin tech correct, quote, i expect tosnapshot this crisis versus the last crisis banks have not been in the cross hairs in terms of the main focus of legislators and regulators and have escaped that. i mean, apart from the citadel and the robinhood stuff recently, banks themselves have escaped it largely >> okay. so a question tying maybe your number 2 and 3 together for a second which is there's a big expectation of a battle with fin tech, but you also talked about m&a which makes me think either some of the traditional players tried to buy some of the fin tech players, i'm curious what you think of that, or could you ever imagine a situation where some of the fin tech players actually buy one of the traditional banks? >> reporter: i mean, very good question on both fronts of the some of the squares and paypals of this world are so big that you wouldn't expect them to be bought could they buy small regional bank perhaps. but they seem to want to do it on their own the big banks are fighting back as well. if you look at t