they said the 2008 email that surfaced was sent by a jp morgan banker but that jp morgan doesn't knowa source familiar has not asked dimon directly if he remembered reviewing epstein's account. and a source noted back in 2008 epstein has been pled guilty and sent to jail and referenced as a sex offender but that is not something they could close the account over and felons are allowed to keep their bank accounts. as for a wire that epstein allegedly sent to a woman after a conversation with jp morgan executive jeff staley, a wire transfer like that isn't something the bank would be looking for under its anti-money laundering protocol, sara. >> and in a filing this month, jp morgan wrote that the usvi lawsuit is what they call a master class in deflection, seeking to hold jp morgan responsible for not sleuthing out epstein's crimes over a decade ago and yet they have access to the same information, allegations an rumors about epstein which it alleges jp morgan should have acted on. sara, back over to you. >> what about the emails that have come to light this week from epstein and stale

economist at jp morgan. one of the very first to call for 25 basis points. through your call on that. what was the game changer for you? michael: well, i think various fed officials signaled that pretty clearly. you had a bunch of regional bank presidents, who are not necessarily dispositive interviews, but then when governor wilder said he favored a 25, i thought that was a pretty clear signal, and then various reports in the media by presumably well-informed reporters indicating that 25 is a block. it feels -- a lock. it feels like that should be the least -- maybe famous last words, but the least interesting developments. kriti: lots of jinks is on the ship -- jinxes on the show today. i want to bring you the idea of a lag in what that means -- take a listen. >> all the analysis shows that the temp in the last fed rate hike -- if much proves to be the last fed rate hike, it takes about a year for the recession to hit. that is when the cumulative and lag impacts happen. in that year between the last rate hike and when the effect of the recession actually b

jp morgan's one of the richest men in the world.but somebody like the owners of the triangle shirtwaist, they weren't living in this house, but they living with a degree of comfort that. the industrial system could provide. if you happen to be at the upper end of the american class system, present the pretty small number of people below that leadership, business ownership, class there was an expanding a rapidly expanding middle class. this huge army of white collar workers inside the industrial system. people who were i don't know, accountants, clerks, salespeople lawyers or people who worked in industries that were connected to. the industry, rail system in various ways has to be a good i don't know, college professors. people who made good, really solid incomes because. they provided the industrial system with, that kind of white collar work that it had to have. remember i was talking about last time, one of the driving ideas of the industrial system is that you wanted to reduce costs as much as possible. well, if you're going to

jp morgan expecting the market to double in the next five years. details on that.is bloomberg. ♪ if your business kept on employees through the pandemic, getrefunds.com can see if it may qualify for a payroll tax refund of up to $26,000 per employee. all it takes is eight minutes to get started. then work with professionals to assist your business with its forms and submit the application. go to getrefunds.com to learn more. [office sounds] ♪upbeat music♪ ♪♪ ♪when the day that lies ahead of me♪ ♪♪ ♪seems impossible to face♪ ♪a lovely day (lovely day)♪ ♪(lovely day) (lovely day)♪ ♪(lovely day)♪ a bank that knows your business grows your business. bmo. the first time you connected your website and your store was also the first time you realized... we can do anything. cheesecake cookies? [together] the chookie! manage all your sales from one place with a partner that always puts you first. godaddy. tools and support for every small business first. ritika: coming up, jp morgan global market strategist joining bloomberg tv at 2:00 p.m. new york time. this is bloomberg.

jp morgan volume slumped 60% last year as february hikes cooled a pandemic-era boom. say cuts include rose in north america and the u.k. amounting to about 4% of total staff. we are told several's outside analyst roles are among those being asked. rishaad: let's look at what is happening market wide. this is a look at some of those chinese airlines after a report that china is imposing minimum prices for tickets sold by the country's state-owned airline. these top state administrators imposing that minimum price. these are some of the companies which are reporting in japan today. we have nissan third-quarter results. we will be trying to get more details on the management inking on their revamped -- management thinking on their revamped lines with renault. toyota's profit outlook is very much in focus as the world's biggest carmaker has not changed its forecast for ¥2.4 trillion since may. that is a look at markets as we had for the hong kong lunch break. you're looking at a hang seng at the moment which is just about up by .3%. we have tech stocks under a little bit

jp morgan, i was a little skeptical but could be worth $1 trillion by the end of this decade accordingey and higher rates will boost income and there's a chance that the stock could double by the end of this decade. more realistically 12 years is likely according to the morgan stanley analyst and this is pretty lofty expectations with online banking boom. i checked in with my mom and she's just like you, for some reason she's not -- she doesn't want to bank online. very hesitant. stuart: i bank online. what are you talking about? i bank online. susan: she doesn't use square or block or -- stuart: i check my bank act account online? susan: did you transfer money online? stuart: no, i write checks. susan: okay. it's not physical cash going from outlet to outlet. stuart: i understand that. susan: i just don't understand the hesitation. >> one thing on jp morgan chase, 10% a year for the next seven years get them in double by the end of the decade, i'd bet on it not against it. susan: on it? a trillion dollars? stuart: jp morgan? >> yep. stuart: we'll look at it. the white house says i did

jp morgan seems to be one of the most reliable partners in financial markets for us.y did a really good job in the restructuring of the ministry of finance. now we saw it not only the debt providers, but also asset management wind, this goes as a logical continuation with our cooperation with blackrock, who designated a special advisory team for us. they are working closely to set up this vehicle which will potentially demand concessional and private money. we see jp morgan as one of the pillars of this corporation, being one of the biggest investment banks and working with the biggest asset management partner from the other side. we want that credibility to the platform and to mobilize as much private money as we can. the logic is first you mix concessional money and private funds. then you've managed to lever this, and the amount of leverage with every sublayer can multiply those funds which would never have happened before using just the ifi money. here you can really get big multiples, that is the implication. manus: obviously, youre getting advice from blackrock

we got something interesting from jp morgan earlier this week.y said credit defaults in january hit the highest since october 2020. we are only talking about five that affected a total of $5.8 billion of bonds and loans. that comes after the fourth quarter where we saw no defaults at all, marilyn. maybe we are seeing the tide turned a little bit. what are your expectations for this year when it comes to the default rate? marilyn: as cliff said, if we see the economy slow down further as we expect it to and if it were to not be a soft landing -- soft landing is primarily the obvious case. if it were to be worse than that , you would expect to see the default rate pick up a little bit. i think we have not seen a lot of activity in that space. you have not seen a lot of u.s. users, seeing more coming through now. a lot of companies are in a better place then happen in terms of the balance sheets, even three years ago. as financial conditions possibly tighten, and as we see essentially economic data slowdown, we are focused for example on -- we are c

that is the head of european investment-grade finance at jp morgan.up, we will be joined by the bank of korea governor to talk to him about the central bank's fight to tim inflation after he signaled rates have hired to go. that interview is exclusive and it is next. this is bloomberg. ♪ only smart bed in the world that actively cools, warms, and effortlessly responds to both of you. our smart sleepers get 28 minutes more restful sleep per night. proven quality sleep. only from sleep number. dani: the bank of korea joined other banks signaling holding rates at 3.3% as expected, but the governor said five of the six board members were open to borrowing costs reaching a peak of 3.75%. let's go to haslinda almond. >> that's right. where is terminal right? let's get perspective from the be ok governor. good to have you with us. you did a pause after raising rates 300 basis points and yields dropped again. do you think that was a reasonable reaction on the part of markets? >> there are two reasons why, the first one is expected inflation bath. our current

jp morgan seeing value in some of its debt. shery: big tech earnings after hours and setting the tone in u.s. futures at the moment, we are seeing downside pressure after three sessions of gains in the new york session. very close to full market territory from december lows, but that is not lasting throughout the after our session, given that we have amazon, alphabet, apple with a mixed results but are basically disappointing investors, and we are seeing market sentiment being dampened, even qualcomm it disappointing with their sales work as. in new york trading, wti under pressure, right now link steady very close to the 76 u.s. dollar level per barrel, this after we had wti pressure, given that the growth rate was researching and we had traders put that money into rate sensitive stocks, but right now that trade not continuing, and we continue to watch a treasury markets as well as the global rally continue here in new york. annabelle: that is right, kicking off with what you were saying about tech earnings, because it certain

you recently met with i the top wall street bank, jp morgan, the top wall street bank, jp morgan, aboutfunding for ukraine. what role do you want the private sector to have and and why would it make sense for them to risk their money in a country that has seen two wars in eight years? good question. and that's why it's necessary for us, together with our key partners. i mean, the united states, the united kingdom, the european union to realise that official support, that concessional financing, is a good way to support ukraine in a war period. but we should look farther away and understand what business environment we should create in place to be able to attract foreign direct investment in different forms. agriculture is very important to the ukrainian at conwy and the latest numbers suggest there's about 20% less land available to plant crops on, so what is the economic impact of that? �* . , ., ., of that? agriculture is one of the key spheres _ of that? agriculture is one of the key spheres of — of that? agriculture is one of the key spheres of our _ of that? agriculture is one of t

jp morgan inc. saying for now this is not the threat to device makers. who was building this? >> it is definitely not a threat right now because it will not be on the market for another three or five years. i would agree with jp morgan that it will not have an impact if he is not heading for three years. after it arrives, there was such a big market share already and it will take time for apple to penetrate that market. i would agree at least in the short term. apple has a secret moonshot team. this is the team develop in this moonshot along with other projects. caroline: fascinating. mark gurman, thank you. let's get to breaking news. we are tracking nvidia earnings. more than a 7% rally. do we like the forecast? >> the data center was the forecast and they did quite well although it was below consensus. data centers directly time to the enterprise tech spending. if all the cloud providers are investing in building more clout capacity, a lot of that spending is going toward nvidia. you are not seeing the kind of correction we see on the pc side like with intel cutting their f

tom: joining us as medicine all are from jp morgan chase bank. again, the markets look nuanced commentary from j. powell. he said there is disinflation with a terminal rate could go above the dot plot forecast and there could be further hikes in the pipeline. the market, labor market remains red hot. we are not seeing a services inflation come down to differently. as the market is reading this fed? madison: that's a fair question to ask and we should be careful with how we are interpreting the market rally that we have been seeing. to me, it's not a rally based upon incrementally of issue messaging. i think it's actually more so that powell's message was in it -- was incrementally hawkish. that's what we saw market pricing for fed rate hikes this year remained pretty much unchanged despite yesterday's speech. i think we are grappling with this question, can the economy absorb higher interest rates? the data over the last few weeks suggests there is a higher probability that can be the case. nonetheless, when i think about the broad path forward a

jv -- jp morgan just restricted its staff from using chat gpt.what are the vulnerabilities that artificial intelligence injects? our next guest francois locoh-donou over at f5 with a pretty fantastic backdrop as well. welcome to the show. when it comes to your expertise of cybersecurity does artificial intelligence particularly generative ai, what sort of risk does it induce? >> thank you for having me. there are a number of risks that happen with generative ai. if we step back a little bit, what we see over the last several years is the number of cyberattacks on companies and applications have increased or medically to the point where cyberattacks are costing roughly six chilean dollars a year around the globe. part of the reason for that is as we move it from the web experience to more digital advanced digital and dynamic experiences that we are all enjoying today, security was an afterthought. so the attack service for attackers increased and they were able to attack applications and monetize the attacks. we are at another inflection point whe

christyan malek, jp morgan head, thank you indeed. these are the final numbers, as you can see.a 8/10 of 1% in the dax , these are coming off of bull market numbers we had friday. intraday a little worse, down by 1.34%. luxury stocks coming under pressure today. that is tune in a few minutes time to the cable show, alix is on the road today, it is just me tonight. 5:00 p.m. london, 12:00 p.m. new york. you can find it on podcast later on. this is bloomberg. ♪ lisa: coming up tomorrow, federal reserve terror jay powell sits with david rubenstein -- chair jay powell sits down with david rubenstein. this is bloomberg. keeping you up-to-date with news from around the world, here is first word. i am lisa mateo. some of the most powerful earthquakes in decades hit the middle east and according to the associated press, more than 2300 people have died in turkey and syria. the first quake measured 7.7 and ripped across the border between the two countries. the second quake hit the southeastern part of turkey and measured 7.5. it forced a halt in crude oil flows to regional export termina

takis georgakopoulos, global head of payments at jp morgan. there's plenty more ahead.his market, we have big moves in the equity market. ♪ introducing the new sleep number climate360 smart bed. only smart bed in the world that actively cools, warms, and effortlessly responds to both of you. our smart sleepers get 28 minutes more restful sleep per night. proven quality sleep. only from sleep number. we all have a purpose in life - a “why.” no matter your purpose, at pnc private bank we will work with you every step of the way to help you achieve it. so let us focus on the how. just tell us - what's your why? first time you heard of a town named... dinosaur? we just got an order from a dinosaur, colorado. start an easy to build, powerful website for free with a partner that always puts you first. godaddy. tools and support for every small business first. yvonne: here's your latest business flash headlines. bank of america and is planning to cut jobs at its investment bank, one of the last in the financial industry to bow to pressure. the reductions could affect less than

he saw at jp morgan, goldman sachs. our more clawbacks to come?n some top executives at jp morgan lose a bit of a bonus. as more investigations happen could that continue? alix: is there a readthrough we need to get wise to? tom: i think it does feel like sort of the trading boom is going to be difficult to meet any kind of expectations they are, really, for everyone. and of course it sets us up for an intriguing q1. much less volatility for trade environment. what happens then? dani: ok, tom. thank you very much. that is bloomberg's tom metcalf. i want to go over some of the equities we are looking at. we are going to look at last call. some of the calls that have been changed. i want to start with software ag. ubs has cut the rating to neutral, saying there is more competition and that is going to hurt their profits. there are no other big catalyst. moving onto real estate, swiss prime, they are also taking a knock, analyst over at baader, saying -- ending with brent here, the chemicals group. gets another upgrade from citi, who says they like t

jp morgan took in more than $1.2 billion in overdraft fees.ell six -- 65%. alibaba kept a lid on costs and shoppers continue to spend online while the pandemic raged. revenue increased only 2.1%. some investors worry a sustained recovery in chinese consumer spending might take time. that is your bloomberg business flash. kailey: thank you. guy, i have been with you a couple days and we have not talked about crypto so i will now hit some of the news we have been talking about. we are seeing a beautiful live shot of san francisco. sam bankman-fried, the cofounder of ftx, has been accused of fraud. new charges unsealed today. in relation to that a 39 page indictment was unsealed. bank fraud charges, violations of law and money transmitting operations and demands for the forfeiture of assets. new charges unveiled against sam bankman-fried. we will continue to stay on top of that story. there are other tech stories to keep an eye on. it is 20 past 7:00 on the west coast. ed ludlow, a coanchor of bloomberg technology. there are other stories at work

katie: this week, we had the jp morgan strategist raging about ditching stocks or bonds. they paired that with a recommendation moving from underweight on bonds to overweight. when you stack up the two asset classes, equities versus bonds, it sounds like you are saying the better risk reward at this moment is in fixed income. >> it's not even close. when you look at the height yield, it's exceptionally attractive even the fact that exceptional monetary policy, the easing really brought forward equity returns. now were in a position where it's important there is an of yield in fixed income to offer you a decent return in the form of income and capital preservation but the correlation between stocks and bonds now the inflation for the stagflation scenario has been priced in the market, you can link that negative correlation once again. you believe we will get a recession that makes it worse than what's being priced in with the 10 year treasury at 385 today, the break here time is 1.25%. unless you think yields will go up with the 10 year, there is real opportunity in fixed

is jp morgan cutting staff now in china? what do you know about this?s a report that they are cutting back, which especially in hong kong, which really calls into question this idea that china's reopening will be economic magic not just for china but for the west. there seems to be a quiet recognition that the rule of law in hong kong, hong kong as an iend indepindependent quasi freo do business. anyone that stood up to the promises china made, the bigger chinese economy, jp morgan, that would be a little bit like jamie dimon disa appearing here. there's a lot of big corporate names in china, a lot of lenders have lent money so the opacity of the economy and its continued turbulence shouldn't be underestimated. unfortunately, wall street seems not to get that message. maria: it's an important message. i'm glad you're talking about it. any western company a that thinks they're going to get better treatment than their own firms where seeing disappearancing should think again. christian, it's good to see you. thanks so much. christian whiton joining us. >>

jp morgan looking at asset and wealth. it is a competitive environment.y did a really good job fundraising last year. the fundraising environment is getting very tough out there. can goldman bring their calling card around the world to raise money and reduce reliance on its balance sheet? they have given specific targets. is that enough for investors to be convinced the volatility can be reduced in the future? kriti: we will put you on the spot as we see them make that payment to the wealth business, to the asset management business as well, or put more focus on it. bring us back to the investment banking and trading platforms. what are the challenges there? to what extent are they at the whims of the market? sonali: great question. trading is a volatile business. i would also say volatility in some instances can very much be their friend. they had record numbers in so many areas and have gained a lot of market share. that is what goldman is winning on in the down market. amber: thanks so much for providing that on the ground perspective. coming up, we wi

. >> so jp morgan is reportedly restricting employees from using the popular artificial intelligence this year. what prompted this particular move? >> yeah, absolutely. and certainly feels like some institutions are beginning to assess how their employees interact with these types of tools. jp morgan in this case have restricted their employees from relying on chatgpt not for any one particular concern but because of compliance imitations in dealing with third party software. school districts also now restricting the roll outs of these generative ai technologies mainly on their concern on potential misinformation. at this point many of them struckal to distinguish between fact and faction and a topic we're for sure going to be talking a lot about, john, in the coming months. >> that's very worrisome. live from london with some bad news for us, thanks. we appreciate it. >>> still ahead back to politics with a look at the bipartisan push to supply ukraine with fighter jets, a move president biden appeared to reject just a few weeks ago. we're going to dig into all of that when we come

stephen parker joining us now from jp morgan, where he serves as head of advisory solutions.teve, the story of table tennis, ping-pong, should we be focusing more on the bull-bear debate because we have a lot of economic data points we can look at? but it really feels like there are these diverging views out there. steve: i think there's a lot of diverging views out there, which is what makes it exciting for active managers. what i think we are in poor right now is the fact that we came into this year with sentiment probably being extremely negative. lots of cash on balance sheets and portfolios, investor sentiment really low. what we have seen is the worst case scenario run inflation has not played out. we are seeing progress there and an eventual end to the fed hiking cycle, which i think, and our view, leads us to a market where, 12 months from now, stocks are higher, rates are lower. a good thing, but in the interim, we are battling with some of the questions around fundamentals, the economy. we do expect a slowdown, and that means volatility in the near-term. kriti: high

i'm curious how it diverse from the jp morgan view of the next 10 years.eeing demand is going down because they lack of activity? perhaps the data points to poor because of renewable energy? because of alternate uses, we have seen the transition accelerated since the pandemic. >> we have beth going on -- both going on. in china 39% of all sales is electric vehicle sales. phenomenal both in europe and the u.s. is not far behind but it is also something happening in the trade environment. we have seen treatment in place followed by what we call bill, chip, and iron. it really moves to block trade and bring things home not only to the u.s. but it also includes some free trade agreement countries. europe was moving in the same direction and that started mimicking the u.s.. we have china for other security reasons going back. we have a retreat from trade that really started in 2018, 2017, 18. it has been reinforced with various mechanisms. we are not going to see the greater pull on demand coming back. yes, it's a little bit of both. lisa: how come you are reco

how do jp morgan and company do? john: when we look at jp morgan, we think coming out of it don't feel as bearish as jamie dimon was concerned. we are owners in shares of that portfolio but we think the big banks will benefit from this and in the process of not only loan making at the commercial loan level but also benefit from trading. there are a lot of things going to happen for the banks, industrials, technology, and consumer discretionary, and if you look at the rally since october 12, the sectors have done remarkably well except for consumer discretionary, as i recall. jonathan: so many people struggling with this market this year and trying to work it out. john, thank you. in the financial times, it is time for the u.s. to regret his fight against inflation and should hold the fed more responsible to conquer raising prices. tom: is the real story here on my date with what i am seeing in the bond market, are we getting comfortable with the dreaded 6% level? jonathan: think about how quickly things have changed.

jp morgan curved use of the chat she bt chatbots. the move impacts employees across the firm. not triggered by any specific incident. haidi: the airline announcing a record first-half profit. we had the general narrative after the pandemic. we expected strong numbers, investors are not liking that area a lot of concern about capex. >> nine new planes on order. contests exercising rights to take those. costs are rising, dealing with the short-term. the overall result is very strong. very narrow miss. $2.4 billion. on top of the buyback announced in august. domestic capacity is higher than pre-pandemic levels. international capacities taking a bit longer to come back. airlines are struggling to get parts, staff. shery: paul allen with the latest on quan thoughts. plenty more to come, including the bank of korea rate decision coming anytime. this is bloomberg. ♪ get refunds.com powered by innovation refunds can help your business get a payroll tax refund, even if you got ppp and it only takes eight minutes to qualify. i went on their website, uploaded everything, and i was blown

lucas: the last hour, aishah interviewed and weighed jp morgan ceo jamie dimon having trouble heavy will with inflation. >> i wouldn't go that far. i think they got a late start. they should have started ticking interest rates earlier, maybe six months earlier than they did. lucas: here is new economic data, rose .6% in january beating analysts expectations. this annual inflation -- the annual inflation rate rose 5.4% first increase in inflation data since it peaked in june making analysts wonder if it's behind inflation just like jp diamond. president biden reacted to news, inflation is down from the summer while unemployment is remained at or near 50-year low and take-home has gone up. the white house announced friday it will be sending $2 billion in additional weapons and ammunition, not on the list fighter jets, asking the question on what they call the proxy war potentially expanding. >> if china start arming russia in ukraine, what are you going to do? >> they have to announce ahead of time -- >> lucas: fox news polls are evenly split as to whether to continue to aid ukraine withou

jp morgan sees absolutely nothing. the big argument on the others is looking at the delayed impact of the rise in rates and what it is going to do to people's adjustable mortgage rates. there is going to be a big reset in a few months. that will continue to hit households with higher inflation, higher prices slowing down retail spending a little bit. if they do opt for a bigger one, that may impact what they signal over the next three quarters. >> sources say credit suisse is delaying a composition day for some of its bankers. it is putting further strain on the relationship with staff as a restructuring is -- restructures operations. what do we know? >> we were told bankers were supposed to have their compensation discussions on wednesday. they were informed on monday the payment will be delayed. it is definitely making people nervous about how much they are going to get paid. >> how much more pressure does this put on the relationship between the employer and employees at a time when we are coming off the back of los

ed: jp morgan talking about new products, when those gain traction, balancing against execution risk, but they want to know about with the macro picture improves and helps your topline. what are you seeing in your markets and hearing about the health of your customers and the global economy right now? kelly: certainly, the economy has been a headwind on a global basis. we are facing currency pressures coming just like everyone else, as well as customers being thoughtful about every dollar that they are investing. that is elongated and sales cycles and more deals. however, with zoom, it is well positioned in this market, because we are highly price competitive. what we offer is the opportunity for customers to consolidate on this platform that they already know and love. the changed management is easy. they already deployed the zoomlion. what we see is we have an opportunity to bring more value to our customers and potentially upsell them, even in ng and where they might be looking for cost savings. ed: zoom went there just like every other technology company this week -- artificial in

coming up jp morgan explaining why they are seeing early signs of distress appearing around the worldstant reaction to fourth quarter numbers. this is bloomberg. ♪ hi, i'm katie, i've lost 110 pounds on golo in just over a year. i was a diet soda addict, and i needed to have a diet soda every morning as my eye-opener. with the release, the cravings are gone. golo worked for me when i thought nothing would work for me. the first few weeks were really astonishing how quickly and how easily it came off, how much better i felt, what a change it made so fast. i feel like anything is possible after accomplishing what i've done with golo. worchester haidi: this is daybreak: asia. a brutal february for risk assets worldwide, we will see if march -- things look better. potentially, we could see more uncertainty around the world, at least today. a busy day today, gdp numbers out of australia, lots of pmi numbers as well. annabelle: and cash is king. it is a brand-new world that we find ourselves in. this changing of expectations, i wonder if it still has some ways to go and more volatility lies

bnp paribas, fidelity and jp morgan, virtually everyone is penciling in yen gains for the year. major turning point for the yen was in december when the boj and excitedly tightened monetary policy. is a sign that it is only a matter of time before the boj fully cracks and that is good news for the yen and a for spots. haidi: bloomberg's senior fx energy rates reporter ruth carson there. while others are trying to make skiing cheaper, this company spent $500 million on a new hotel, high-end chairlifts and other amenities. the president of the company says the bet is paying off, telling bloomberg that visitor numbers are exceeding pre-pandemic levels. >> look, the biggest strategy here is the sale of real estate. this place has what i consider to be the best skiing real estate in the world. this is the start of it. you could call that the mothership, the park hyatt. you will see if village expand around the park hyatt. pcpd are very, very good and adept at luxury real estate, they know how to do it better than anybody else. >> give us a sense, how big is japan's ski industry and h

jp morgan on -- said some adani bonds, made dollar bond payments as scheduled on thursday. bank of a googling -- england signaling it may be drawing to a close after raising its benchmark midland great -- benchmark lending rate. to 4%, the. . high since 2008 there so long way to go in the inflation fight. >> we are going to react to the information and the evidence we see. we're -- we have not preannounced an attention because we have reached a point. we have started to turn a corner. that is encouraging. there is a long way to go. there is a lot of risks. rishaad: the european central bank lifting interest rates by half a point to 2.5%. the highest since 2008. policymakers say another move is almost certain next month that there warning the most aggressive monetary tightening in eurozone history is not done despite conceding the inflation outlook is improving. >> the governing council will stay the course in raising interest rates, significantly. at a steady pace. and in keeping them at levels that are sufficiently restrictive to ensure a return of inflation to our 2% medi

jp morgan's asset management arm is heading for the exit.♪ haidi: data coming out of australia, critical retail sales number month on month we are seeing a gain of 1.9 percent. that is better than expected. and an acceleration from that contraction of almost 4% in december. it really had a lot of economists worried we were seeing the impact of faster inflation, high cost of living and rising interest rates squeezing australian consumers. higher than expectations. we are also getting numbers on it comes to exports of gdp, one .1%. a little lower than expectations. again, bouncing back from the contraction of .2%. the account balance of $14.1 billion bigger than expect than the $5.5 billion for the fourth quarter. we are seeing a bit more resilience when it comes to the australian consumer given these concerns about the fixed mortgage cliff cutting into retail sales and consumer can lead to that consumer sentiment but also the potential impact of chinese reopening. haidi: -- shery: implications for the broader asia-pacific. especially when it

manus:manus: what's the swirling around jp morgan, saying explosive rise in short dated option is creatingisk on a scale that the markets have not seen since 2018. the senior portfolio manager, issue word about that fact? good morning, good to see you, stephanie mark -- the equity market is like this, it's refusing to listen to the bond market. do you think there is an awkward moment between the bond market and the equity market? good morning. >> good morning. i think the equity market is exhausted and is not sustainable. i think people forget about seasonality's. we have the january effect and a lot of tech stocks selling last year. also in terms of performance leadership, it was clearly about the strong's performance, and also investors are missing out. so for me the technical backdrop is not healthy and it is not a sustainable rally from here. manus: we've had a look at this chart, this huge buildup in options. you got that massive buildup, traders have to run to hedge. when you see this kind of formation that we saw five years ago, do you worry about liquidity in any way, pools of liqu

the chart watchers at jp morgan say beware, we are pumping against the 200 day moving average.f we preach it, more room to the downside. manus: those naughty quants have got a whole different agenda, don't they? let's talk about the u.k. and eu, they have finally sealed a theoretical deal on northern ireland's post brexit trading relationship, potentially ending a standout that has poisoned relationships between london and brussels. the u.k. hailed the agreement as a solution to the impasse over northern ireland. >> today's agreement delivers smooth flowing trade within the whole of the united kingdom. products northern ireland's place in our union. and safeguards sovereignty for the people of northern ireland. manus: we're joined now by lizzy burden, who has been tracking the windsor accord, as it is known. sunak, if he gets this across the wire, he will have achieved something quite historical. what did he get that is materially different and palatable for the unionists? >> manus, if you are watching that press conference yesterday, anyone who has been following the brexit sa

hunter's payments to this assistant ultimately triggered suspicious activity reports filed by jp morgannd other reports were filed because of hunter's payment individuals affiliated of human trafficking. according to joe biden, the top secret documents in his garage were safe and sound and locked in the house with hunter biden and his corvette. here is josh boswell with us. let's focus on hunter and this offer in writing for 55,000. they're talking about russian oligarchs, i got to believe that's not information that a crack addict that somebody compromises thuntr should have. >> this is an issue that has come again and again with hunter. he's selling this level of expertise and information that appears he does not have. he's not a top energy expert. he's not someone who should normally have access to the inner workings of these future link oligarchs and he's here pitching this u.s. company of this kind of detailed access and information. when you put that together with the fact that he was living in the house where classified documents were found that joe biden had when he was vice pre

jp morgan and mike wilson at morgan stanley saying avoid these equity markets and move into bonds. they are more accurately pricing the risks around inflation and rate hikes. ftse 100 gaining.2%. talk of inflation and wage data out of the u.k. for the last three months of the are coming in at a record high in terms of the speed of gains. the boe under renewed pressure in terms of the focus on additional hikes coming through at the next meeting. let's bring it over to what is happening cross asset. we are looking at the japanese yen. mr. kazuo ueda has formally been nominated by the prime minister and will take over from governor kuroda. japanese yen .2%. how quickly will he reverse yield curve controls? does it happen later this year? 10 year estate side, yields were coming off a little bit but 3.6 nine currently on the benchmark. currently, oil in focus. $79 a barrel down.8% on the news that the biden administration is looking to release more oil from strategic reserves potentially offsetting the planned cut i russia come march. francine: let's get to mark cudmore. bond traders ar

i read that note at jp morgan early this week. this is the idea you can be short this market in the face of a rally like this. it is painful to do that. tom, what we need to work out is through window of opportunity how big is that window? is that window about to slam shut off the back of really week economic data or not? tom: i like what olivia blanc chart says in his chart, the last big pandemic -- we are getting is affecting everyone. take amazon as a whole in spades. the labor model is going to be the outcome for the american people. you look at the jobs report we will see at 8:30. i guess surveys under 200,000, that is beginning that show the labor range you're talking about. jonathan: 189, still decent. tom: i am flabbergasted. claims got buried yesterday. was that yesterday? look at the four-week intraday moving average of claims. jonathan: futures down .8% with price action together. equities today, softer but ove last week, nasdaq is on course for a fifth week of gains. best week since november. up about 5% on the week, u

inflation mean for the rest of the jp morgan world?are looking for a reasonably high said number for a five 10 again on the core. i would also like to include the january activity data. i think what it's telling you is this economy is not moving in a straight line down on a growth or inflation. we should understand that these moves we saw at the end of last year were probably overstating the underlying shifts in trend. we think inflation is moving the work. it will sit somewhere in the 3-4% range. it's not enough for the fed and that becomes a big issue as we go forward from here. tom: what happens to our viewers and listeners economy if we stick at three or 4%. if we get a more sustained, not 2% inflation what does it mean for gdp? >> first of all, we are not leaving the economy sliding through recession right now. we think there is a significant part with -- which we think is a positive. the business sector is still very healthy. this is where we get into what we call, we don't think the fed is trying to kill us. even though inflatio

among those jp morgan saying we do not know if the rideshare rebound is lifting all boats and lyft missing out. morgan stanley looking at the slim parfitt -- profit margins. the pessimistic take from bankamerica lowering its price target to $10. that is massive considering the company ipoed in the 70's. we do not know if the growth outlook is here considering you have to lower prices to get consumers back. there is one bright spot, if there is anything to bring back investor faith, it is what it will take to get the costs down further and put more earnings back into investor's pockets. the company mentioned they are willing to look at additional cost cuts. >> i will play deviled -- devils advocate, the company says they have the highest quarterly revenue in history, they have any record of active writers. people are coming -- active riders. people are coming back and doing more ridesharing. are the able in any way to fight back to such a remarkable argot move? -- market move? >> you think is a good thing that drivers are coming back to the platform, the problem last year's that they were n