how do john stumpf brooklynites feel about the possibility?ry clinton was unavailable to show us around. we set off across the east river with a cardboard cutout is our tour guide. -- as our tour guide. ♪ >> what are y'all doing with hillary? >> we hear that hillary is looking at brooklyn to set up her presidential campaign headquarters. >> i think she should come. >> brooklyn is the place to be and i think hillary would make a hell of a candidate. >> i think brooklyn would be a great location for hillary to set up her headquarters. oakland has so much energy. things are happening in brooklyn. you got the barclay's center. it is truly a place where you see a slice of new york. >> where do you think hillary might want to hang out? >> hillary would not like to hang out in any of the same places as me. i think she will mostly influence brooklyn by making traffic bad in certain places. that's my guess. my guess is she is not going to be riding the subway. >> there you go. >> do you think she would fit in better? >> may be willing cap eyeliner. it

john stumpf making it up with fee-based business.rt and the margin's not good they sell off again. it's important jpmorgan power through 6 on0. when earnings come out people will say this is not their moment. jamie dimon says you want 4 billion number you want the ten-year higher . >> i spoke to him yesterday. he does -- >> like -- >> we chatted. he does believe that like a lot of people rates are going move up during the course of the year. are they going to move up sharply? i didn't get a rate call per se -- >> but you got a phone call, more than the rest of us. >> things are going to improve. >> well one thing -- >> and things are good. the u.s. economy, not that bad around the world. >> if you're one of the 770 million people in europe why would you want to earn their bonds when you go to our bonds? that's the problem. >> home depot's going to open up almost 5% on the call. just asked whether or not they would respond to walmart's minimum wage hike. response, we pride ourselves on paying above the market wage we'll adjust as nece

i want to bring and john stumpf us. -- and often i'm he his of least concern to him. what is your biggest concern? guest: my biggest concern is that bonds are not acting like bonds. last year's story on bonds, the returns were from price, not yield. traditionally, we know bonds are supposed to be a source of income. right now, they are it that on the direction of monetary policy in the they are a bed on the direction that the market thinks interest rates will go. -- bet on the direction. they have to sell the bond to get the return when the yields are low single digits or negative. >> when does that turnaround? his call on the long front has been right, right right. >> a remarkable guy. i was weaned on gary shilling. >> clearly not enough. >> we are going to get normalization of interest rates. that normalization will not take us back to a wild to a 3% on the tenure -- to a while 283% on the 10 year. -- to a 3% on the 10 year. the income crowd and the players could the players are just playing it. they have been playing