but as attorney, mimi will noted, jp morgan didn't seem to care. the only reason that jp morgan of the 16 he is reported the $1000000000.00 and suspicious transactions was because he was arrested . and then he was dead. this was a cover. it's reporting off to 16 years of all the money is flowing in his jp morgan accounts off the he was dead. jp morgan has denied the allegations, but this isn't the 1st time the bank has been at the center of an extreme related case. back in june, jp morgan settled the separate lawsuit, paying $290000000.00 to a group of women who said they were sexually abused by epstein while he was a client of the bank. dozens of women have reported being sexually abused by the billionaire and his wealthy clients and friends when they were children, but many never got their day in court. the 2008 case was settled with the light plea deal, and none of the victims were even notified. as for the 2019 case against epstein for some trafficking miners, he was taken into custody. what was reportedly found dead in his cell? in a case wher

and jp morgan's entire business with epstein was human trafficking. the suspicious activity by epstein lasted up until at least 2013, meaning that it was before and after he was convicted for sex crimes involving folder in 2008 and force to register as a sex offender. but as attorney, mimi will noted, jp morgan didn't seem to care. here's what she said in court. the only reason that jp morgan of the 16 he is reported the $1000000000.00 and suspicious transactions was because he was arrested. and then he was dead. this was a cover, it's reporting off to 16 years of all the money is flowing in his gp move and accounts off the he was dead is jp morgan has denied the allegations, but this isn't the 1st time the bank has been at the center of an extreme related case back in june, jp morgan settled the separate lawsuit, paying $290000000.00 to a group of women who said they were sexually abused by epstein while he was a client of the bank. dozens of women have reported being sexually abused by the billionaire and his wealthy clients and friends when they we

. >>> we appreciate it jp morgan paying $75 million to settle the jeffrey epstein case.vers for the details of this settlement. >> reporter: jp morgan and the u.s. virgin islands have reached an agreement in principle to settle the sex predator litigation of jeffrey epstein payout of jp morgan of $75 million. the settlement ends a bruising episode each side accused the other of enabling jeffrey epstein's abuses and led to a sere res embarrassing disclosures for the jp morgan folks. the wall street firm says the payments will be divided into three categories 30 million will go to u.s. virgin islands charities 25 ml to usvi law enforcement and 20 million toward legal fees a statement, jp morgan says the settlement does not include an admission of liability but the firm deeply regrets any association with this man. u.s. virgin islands aerial smith called this settlement historic victory for survivors and said it should sound the alarm on wall street about bank's responsibilities under the law to detect and prevent human trafficking. but a dispute emerged this morning betwee

the head of asia pacific equity research at jp morgan is still with us.e, the data-dependent -- that's what they always say, but give us a sense of what we got out of the beige book and also that i is in print there on wednesday in the u.s. because the ism print was much stronger than expected and people taking that as meaning perhaps the fed has more impetus to tighten, but the beige book was a bit more sanguine in some ways, even though it is characterized as fairly modest, which is better than it had before. it's a growth was slightly stagnant, but it said consumer spending on tourism was doing well but not consumer discretionary. give us a sense what your takeaways were. >> the jp morgan outlook is that you will not see any rate move in the current fed meeting. we do see the fed on hold for the foreseeable future, probably until next year, and that is off the balance of the data. the fed has discussed the labor market a lot. we are seeing a balance of data, on labor force participation rate, which we have discussed in private programs, you are now bac

jp morgan including bonds in emerging-market indices.no for the time being. how does that all collectively affect the bond market and what sort of inflows are you likely to see by the move from jp morgan in particular? >> the index inclusion into the jp morgan jay b.i. index is a very welcome move. we are excited in indian markets about the inclusion. given the size of the tracking index, we expect inflows around 25 billion dollars. the index rates starts increasing from june 2024 one percentage point each month straight up until march of 2025. we expect inflows from non-index players or index players already set up to access indian markets to start ahead of june 2024 timeline. the inflows will be $25 billion. if i look up the size of this inflow under the context of the overall size of indian government bond market, it is not too big. you are a $1 trillion market. 25 billion dollars is less than 2%. if i look at what it does to the outstanding stock, that -- in matter of a year and a half. what this inclusion also does is paves the way

you're talking about the jp morgan hedged equity fund. the seventh at the end of every quarter but the ideas that the dealer on the others out of options will have to do price discovery and move their position and they could intensify selling pressure within the market. abigail, you look at options, are you seeing this? abigail: you had a great explanation because that is the case that this fund, it is along equity fund and within it, to hedge the position, there is an out of the money puts, out of money call and they finance it would be out of the money put in the overall target is around 4210. in a calm work quarters, it is not a big deal but this is the worst quarter since this quarter last year and in this year, we are looking at the worst month of this year and the last time this was a big deal was december of last year. we had december -- november with the october low and december down. to your point, it can either act as a slingshot or magnet. as we go to 42 10, the street has sold jp morgan the long plate which means it is short a

>> interesting, of course, jp morgan has been the best but still the bkx august struggling.hey're making all-time relative highs to the bkx and kre, on absolute basis they look lob rolling over. sticking with morgan stanley. first thing to note, it's quite remarkable. morgan stanley is the same police it was in september of 2000. so, now, if you have a stock that's gone sideways for 23 years, that means adjusted for inflation, you've lost about half your money. 23-experience year, year over year, lose 2.5%. that's pretty unhappy. zeroing in closer, this is the trend line in effect since the covid low. we have converging trend lines, one could say your arrow is wrong, carter, it's going to break out. ic it's going to break down. and shorter term, and wrap here, what we have is that line is in play. do we breach? it is, to be fair, a series of higher lows since the lows of about a year ago. i think we're going to break. >> all right, so mike, do you agree with carter's assessment and what's a trade here? >> yeah, i mean, so let's just talk about the space first, i mean, what's

meanwhile, jp morgan also reached a settlement in its claim againstjes staley— who previously became epstein as a senior private banker atjp morgan. jp morgan has denied any responsibility for epstein�*s crimes. in the us, there are fears that millions of americans may not recieve their pay and welfare cheques this weekend as right—wing republicans block attempts to pass a budget. the next financial year begins on sunday and, so far, the party hasn't even managed to advance a short—term funding bill. president biden has said funding the government is one of the most basic, fundamental responsibilities of the congress — and lawmakers who refuse to should stop being elected. the tech giant meta, which owns facebook, instagram and whatsapp, has paid £149 million, orjust over $180 million, to break a lease on one of its london office buildings. that's been revealed by the property developer british land. meta has let the space from 2021, following a refurbishment, but has never actually moved into the space. meta is in the midst of a jobs—cutting programme that is likely to impact on its

rates strategy at jp morgan and morgan stanley director of research. a few of the conversation has shifted over whether they will go again to how long this federal reserve could stay on hold. after what we heard from jerome powell this week, how long do you think we will stay at that eventually terminal rate? guest: thank you for having me. it has been our view at jp morgan that we think the fed is likely done tightening. that is been our view for some time. the risk is to one more hike but it's they are on hold, they're likely on hold for the next year or so. don't envision the fed lowering rates until the third quarter of 2024. we do see growth decelerating after strongly above trend growth to start the year through the middle of the year. against the backdrop of an economy that is likely to move below trend into next year but inflation should remain elevated. we think that is on hold for an extended time although it's unlikely the market will get this clear for a few months. with the dots still indicating one more hike is likely, we think it will ta

, multi-distribution, multi-geographic platforms and the likes of goldman and morgan stanley and jp morganave that in spades. that's one of the unintended consequences of regulation that came out of the global financial crisis. goldman sachs has the raw materials to play in the short-term and the long-term. that's a real competitive advantage. matt: do you think the bank is undervalued? price earnings price-to-book and solomon took over and the pe is a little higher but it's still just at 14. price-to-book is a little lower than when he took over. maybe i'm splitting hairs. >> goldman sachs is grown in value by 50% over the last five years and they still trade close to tangible book value and we think they will grow another 40% over the next five years. implicit in that says investors have concerns about goldman sachs. i think that's an opportunity. i don't model their targets over the next two or three years but i don't think that matters as long as they improve the returns of 10 or 11% by 200 basis points, that would be enough to take the valuation higher. the stock prices outperformed u

the big one is the jp morgan, because that is what india is looking to get into, the jp morgan globalwhich krach is about $250 billion of inflows. what is likely is that investors probably are pushing for india's inclusion more this time around because they need more diversification in their portfolio. remember that russia is out of the index and china is seeing more geopolitical concerns. in that scenario, india is the biggest emerging market which is still outside any global index. there's about an 18% size of the global market. this is why investors are more pushing this time around. interestingly, it is not the government that is so keen on inclusion at the moment. for one, they are not sure on the volatility of these flows because if the market shows potential, there is a potential of these flows going out. it is more being driven by investors probably this time around that india is a likely candidate for inclusion. rishaad: i expect a lot of tracker indexes would flood in, should it happen. that has got to be the main indication, right? reporter: yeah. basically, we are looking

jp morgan jamie dimon said are you prepared for 7% interest rates and recession?re going to see 7% rates. what do you think? i mean, holy throe toe. we didn't see those rates in 2008 financial crash and what's going on here? >> we should have had rates and held them low since 2009 and now all the sudden we're returning back and jamie dimon with a good chance they go up further and i don't know that it's going to be 7% and elizabeth, i know they're going to go up further i think and all these people that have been living in a world of 1 and 2% long term interest rates are going to have to adjust their portfolios and from my standpoint and the companies i'm involved with, i've told them all to be very cautious and have plenty of reserves to withstand the problems when rates rise. they will rise i think and i don't know how high. but i think they'll rise a little bit further. elizabeth: all right, this is going to rock the markets and i think 2 percentage point increase from 5-7, it's more painful than from 3-5. jamie dimon is saying that. he's blaming global governm

reminder of the events leading out to of scenes that the in the latest i've seen involved case, jp morgan is arguing that the us virgin islands doesn't have legal standing because it wasn't one of of students victims. but the territory is seeking $190000000.00 from jp morgan, arguing that it was unable to bring the bullying air to justice due to the inaction of his long time back. well, it has been more than 4 years since up student data was reported, his business partner going, maxwell is still the only one from his inner circle to face charges. and his infamous client must have yet to be made public. all for now, but with so much happening all around the world. be sure to check out our cheese. com for updates. thanks for training and we'll see you back in 30. the the are you on the mountain on the had the little for last see about i left the, the rule behind it. glad. um i used to but how much does the move out of the head of the month? so, but i used to have them who are you the was not, continues 19 de revolution. forget about the solution business, you know, only very self understand

plus we have an exclusive with jp morgan on opportunities in india's ipo spaces. straight to the market action. we've got at the moment a down story. the sentiment has been rocked by what is going on the u.s. that headwind coming through with a shut down in the offing. that is playing out with these equity markets in this part of the world with a couple of exceptions. it's a difficult day for risk assets here. though u.s. stocks closed slightly positive we have the selloff in long-end to treasuries. and the stronger dollar, although bit of a concern for regional markets. of course people will be hearing from fed chair jay powell later this week. the thing is it is the higher interest rates putting u.s. treasuries firmly in focus and the looming government shutdown not helping either. let's have a look at the open for bangkok. the thai market down a fraction and at the moment as well we are seeing the thai baht relatively steady in the face of what we have been seeing. the baht actually is not that steady, around 38. actuallya a big day for the dollar. a rising yie

jp morgan raised their gdp forecast for china.looking at a market that is priced for negative news. the real estate story has been going on for year-and-a-half. the news flow is going to be off the charts and no one's position for it. the single best risk reward trade out there. haidi: jay, short-term we are expecting the bulk. >> i'm sorry, go ahead. haidi: i'm wondering how you view the possibility of the property sector to turn worse because we know how much of an impact that has. the chinese consumer, household, business sentiment, investment, and has the potential to create contagion. >> i don't think they will allow the property sector to deteriorate further. and what we call policy dribs and drabs of policy over the last three to six months, much focused on the property sector because it is very important. it is one of the things we paid attention to at our firm but the question is how much more downside versus upside? you are showing ever ground down 95%. ms. a talking point but is it impactful for china equity? i do not t

jp morgan are for running their bonds in the index despite the tax issues.here was 60% of investors who wanted the indian bonds to be part of the jp morgan bond index, so it is good for india from the long-term perspective. it will start june 2024, but the markets are thinking six month ahead, so i do expect there to be some active loans in 2025, so for india it is a good thing. more and more investors are looking at india because they look at the chinese markets that are almost on investable given the lows -- uninvestable given the lows of the triple see. and i think india is definitely the fixed income being so high for indian government bonds. it looks attractive from the medium-term perspective. india is a place where a lot of investors are looking, also in the hiring market because the hiring sector in india is the renewable sector, which is esg focused. david: since we are ending here on local currencies, i want to take it back to china because the correlations of cg be's to everything else suggests there might be a hedging plate in cgb's. what do you

jp morgan has done stuff in the space, blackrock too.ng to figure out how to get into defy. they need the right infrastructure. they need to make sure other counterparties -- there is an opportunity for companies to create that financial infrastructure, whether it is a bit of a more open network. or maybe there is a trend, around layer three's, or some of these blockchain companies, creating the ability for some of these institutions to have their own blockchain and run financial applications in a more secure environment. that seems pretty interesting right now. annabelle: i wonder about the price of bitcoin. the prices under the $26,000 mark. when he take a look at the technicals, -- you take a look at the technicals, the moving day average has fallen below the two day moving average. terra put out a will list -- bullish production by next year. is that something you agree with personally? >> we are very bullish on the price of bitcoin. what we usually see is bitcoin is the first thing that folks think about when they get into cryptocur

we discuss the outlook for india's bond market with the sovereign debt set to join jp morgan's and bond index analysis. rishaad: more insights on what's going on with oil. we will be talking with united overseas who says they see brent testing 100 bucks there per barrel very soon. this is bloomberg. ♪ the first time you connected your godaddy website and your store was also the first time you realized... well, we can do anything. cheesecake cookies? the chookie! manage all your sales from one place with a partner that always puts you first. (we did it) start today at godaddy.com [flight attendant alert] [baby crying] [snoring] [luggage rattling] [baby crying] ♪ dramatic music ♪ ♪ upbeat music begins ♪ for everyone who's endured the bad seat, finally, sweet, sweet redemption. the lexus tx. three-row luxury that treats every seat like the best seat. (♪♪) haslinda: relentless selloff in the bond market. a huge swing in 10 year yields overnight. aussie tenure rising to the highest since 2011. jgb's hitting 0.75% for the first time since 2013. the bond market front and center. those searchin

earlier, jp morgan's -- gave a explanation on how he uses prices. >> you end up with inflation when you are running the economy above is trend rate of growth. we estimate in the united states to percent. the 2% we sing this year, we believe it is going to make it -- of the 2% leasing this year, we believe it is going to be challenging. joining us with more perspective. markets on where the economy is going from here. >> i have not been in -- camp for a long time. when you have had some much of excess in monetary expansion and fiscal expansion like we had in 22 into one, estimating inflation to be transitory all of which which were wrong forecast. i find little reason to believe the point of view today. >> when you have had that much of it excess in the economy, it is going to take a lot of effort to bring it down. we have brought it down from 19 we have brought it down to the percent level. the headline is going to be up again in my patient on wednesday. that is because of rising oil price. well the fed will have to increase interest rates all. one of a percent. if you take out cars and

saying oil will almost certainly go above $100 a barrel again, that is a psychological barrier, jp morganamatic prediction it could go over $150, what are your thoughts? it go over $150, what are your thoughts?— go over $150, what are your thou~hts? , ~' , . , . , thoughts? it is likely that prices could spike _ thoughts? it is likely that prices could spike over _ thoughts? it is likely that prices could spike over $100 _ thoughts? it is likely that prices could spike over $100 a - thoughts? it is likely that prices could spike over $100 a barrel, | thoughts? it is likely that prices i could spike over $100 a barrel, but will it stay there? i think with saudi arabia, with so much spare capacity it could loosen its production control, and offer a bit more to the market, because the last thing that saudi arabia, russia want to do is spiral the world economy into a recession which will damage the demand in the first place, so, this $90 is roughly the sweet spot i think for both those countries are, especially for saudi arabia, because what it cares about is something called a fiscal break e

jp morgan did not admit any wrongdoing as a part of the settlement, which allows it to avoid a trial that was set to begin next month. the money will now go towards anti human trafficking charities and lawyer's fees. epstein died of suicide at a new y-rk jail shortly after his arrest in 2019. still ahead, a big funding boost for california's high-speed rail. >> but will it actually speed up the construction? and in north bay transportation system is getting a grant to help expanded into other help expanded into other areas. you know i got two home runs. you got two jacks. and then my grand slam. i signed a ball for you. okay. and it says papa i love you. why did you do that? because you've taught me everything about baseball. oh hunny bunny, that's so sweet. (♪♪) (♪♪) like i'm sneeze home on. >> hold on. >> okay. the sonoma-marin area rail transit. also in the smart has been awarded 32 million dollars from the biden administration. thanks for bearing with me. there. it's all part of a federal grant program by the department of transportation. that money will be used to extend passeng

ilia: el banco jp morgan chase va a tener que pagar una multa multimillonaria ya que le habrÍa permitidoneciÓ para miles de migrantes en mÉxico despuÉs de que Él gobernÓ de ese paÍs endureciÓ la seguridad en los trenes para evitar que utilicen ese medio, ahora familias enteras estÁn varadas, atoradas y desesperadas, marlene guzmÁn hablÓ con ella y nos trae sus testimonios. marlene: que el tren siga su rumbo a piedras negras es la Única esperanza para miles de familias migrantes que han hecho de los vagones hogar temporal por dÍas y su Única vÍa de transporte que lo lleve al paÍs de las autoridades. es la misma sÚplica de mÁs de 1000 migrantes que abordaron a coahuila este lunes, encima del tren encontramos a reinaldo, de 11 aÑos de edad, quien padece del sÍndrome, y con su discapacidad la travesÍa para su familia ha sido mÁs difÍcil. despuÉs de horas avanzaron los trenes llenos de migrantes. iban felices pensando que ahora llegarÍa, lamentablemente en menos de media hora los dejÓ varados. anoche corrieron tratando de refugiarse de la fuerte tormenta que se venÍa. la mayorÍa lleva dÍas ag

jp morgan says risk is high based on stances taken by uaw. the unions demands include a 46% pay increase over four years and a 32 hour workweek. the contract ends next thursday. well, the battle is heating up between city leaders in san francisco and the ceo of cruise self-driving cars. now the cruise founder defended the recent traffic problems involving his company's robo taxis in san francisco. in an interview with the washington post. he says the city's concerns are based on what he calls anti robot bias and says his self-driving cars are safe. last month, the dmv ordered cruise to slash its robo taxi fleet in san francisco due to safety concerns. as california's changing its electric car rebate program to focus on providing subsidies exclusively to lower income car buyers. the clean vehicle rebate project, which has been in place since 2010, will come to an end this year when it runs out of money in its place, the state will expand the program next year that provides subsidies only to low and middle income residents, and the subsidies wi

tom: stephanie roth with us from jp morgan bank. futures at -40 pursuit -- -42.: right now, if you are just joining the program, we have been focusing on apple and it is one thing, it is a specific stock and one of the biggest since it is the nasdaq but the larger question for the growth story and that was some of the angst we heard from someone. she was overweight but not adding to that position in big tech on the heels of some -- tom: anastasia amoroso went the other way and that is what makes the show but amoroso says by the tech ai dip. dear it is. lisa: this is underpinning a lot of moves -- how much is this tech story underpinned the u.s. story of growth and they u.s. story of continuing to decrease and decouple in terms of strength versus the rest of the world? how long can that continue and that is being thrown into focus especially ahead of the g20. tom: as the september -- isn't september supposed to be complex? how about school supplies? when did this start? lisa: textbooks in college, that was the key racket. those textbooks are $150 each. what kind o

of the most anticipated deals in leveraged finance this year, group of banks led by goldman and jp morganaunch a 4.4 million dollar debt sale to fund the purchase of a majority stake in worldpay. >> we see downside for credit spreads, we are forecasting writers present a year and to break out of this more narrow range we think we need to see more material weakness in the consumer. sonali: joining us now is axonic peter cecchini and mike contopoulos richard bernstein . i need to note where you think things are going to start to crack as things they hire for longer. mike: you look at investment-grade corporate bond spreads and their only about 119 basis points the investment-grade market is rising in the best of times. at the end of the day, the risk behind the investment-grade market are not huge. most investment grade companies have turned out their debt. many of these companies generate a ton of cash flow. high quality companies. the problem is the spread already reflects that and you can pick up similar yield without taking the credit risk. from our perspective, it is not that we expect

joining us now is the global head of energy strategy at jp morgan christyan malek.f demand and em? christyan: for sure. it's good to be here. on demand, we are stronger in demand growth in medium-term then we thought we were and the main reason is when you look at the fuels in the world, particularly clean energy fuels, and the second edition of the report, we show the system, distribution of energy will basically fail the generation of clean energy. you have these jobs generated and you cannot get to the consumer. what happens as we end up with a massive gap of energy in terms of what to fill. how do we fill that? we have to go through traditional fuels. that will drive more demand for hydrocarbons and more demand for oil. tom: we can spend an hour on this. jules is an expert on energy and all of that but i will not go there this morning. what i will say is you've got a get traditional hydrocarbons from saudi arabia and such through the straits of malaga and up the pacific rim. is that model still in place? christyan: absolutely. when you think about saudi share of

jp morgan ceo jamie dimon speaking at the detroit economic club at 1 p.m. and i and curious how much they indicate that strength has further room to go. do they push back against that at a time where it seems like you are getting raises and can push forward? jon: i am interested in the fact that it is in detroit. lisa: president darren, -- president jamie dimon, do you think he is going to do this? how much will he wait in on this? we have earnings from fedex which has gotten abu sofar this year from yellow and ups as some negotiations there with the unions. i am curious on what they say about the labor. jon: joining us now is then laser --ben laisler. you are the master of what can go right. what could go right? ben: do you want me to give you the whole list? jon: is it that long? ben: wrote this a lot better than it was and core inflation continues to fall and i am comfortable that that will continue. that is taking the biggest risk off the table. the fed will have to keep hiking . that is gone and the earning cycle is turning up and it doesn't have very

additional funding provided by jp morgan chase & co. - [interviewer] right now you are deputy commissioner- - right. - of the fire department? - right, first deputy commissioner is the official title, right here, right. - [interviewer] okay, and where are we, what city? - new york. (laughs) (slow piano) when you have a department, whose men and women are expected to be ready at any moment to put their life on the line... (sirens and horns) to go to the aid of a stranger, even when it means that you may put yourself in harm's way, actually, in dire peril, i don't think you can pay people to do that job. there has to be something beyond money that makes them do that. the thing that sets the firefighter apart is that it's he or she who, when the bell sounds, goes to do whatever is necessary to help the person who called them. no matter what we do, no matter how well we train, no matter how good our equipment is, no matter how hard we try, no matter what, the time will come when we will lose another firefighter. (sirens in distance) - bill feehan was "the father of the fire department", that's

jp morgan ceo jamie dimon taking aim at higher capital requirements that u.s.ing he would love to know what they really want to accomplish. says the plan would be a huge negative for banks over time, also question whether regulators have learned lessons from this year's regional bank failures. >> it was not the federal reserve in general. it was each one independently. it was each central bank. if i was them, i would have more humility over stuff like this. rishaad: we have the release of jobs data for the unity kingdom on. average weekly earnings grew 8.2% in july. same level as the previous months expansion. also expected to grow 7.8% and that would match less months increase, coming against the backdrop of high inflation. we do get these jobs figures as well later today. they will be out at 7:00 a.m. local time. jeremy hunt to says the government's on fighting inflation with price pressures remaining high. i spoke to him at the g 20 summit. >> i think it is unlikely because since the spring budget when the last numbers were published, we have seen inflation

seems victims, but the territory is eating $190000000.00 from jp morgan. arguing that it was unable to bring the bullying air to justice due to the inaction of his long time back. well, it has been more than 4 years since i've seen his death was reported. his business partner going, maxwell is still the only one from his inner circle to face charges, and his infamous client must have yet to be made public. so that's how the world is looking at 10 30 pm in the russian capital for more than any of those stores, as well as all the latest updates. odyssey dot com, our website is your place to go minus, be discard funny, but we more in search. thanks for watching the the, there are lots of width of lower organizations out there, especially in the united states, western europe in australia. but many of them are very parochial. they focus on narrow subjects or issues rather than focusing on the mental well being of the whistle blower. becoming a whistle blower is a decision not to be taken lightly. i promise you that it often results in almost immediate, social and professional ostracism in i

we will speak with hugh gimber from jp morgan asset management department. this is bloomberg. ♪ >> i don't think at this point they can hike but they will keep wide open the possibility of another hike in push back against the notion that they are coming anytime soon. the message will be that we are going a little higher and we will stay there for longer. guy: that was mohammed el-ehrian speaking earlier. how long does the year ago? are we in for a bit more? >> when they are hiking it is dictated by inflation when they're cutting it is growth. there are two factors holding back the euro zone. the energy story even though you have inventory at high levels they are seeing higher prices after the russian invasion of ukraine. if we were to see a big acceleration that would be something that could prevent the depreciation of the euro continuing. it's hard to see it changing i think the euro desk a lower. alix: it looks like the eu will be tit-for-tat at the very best with china and it will ripple down into the luxury sector as well. hugh: you've seen the reaction

jp morgan saying that u.s. stock valuations are looking stretched.year bonds currently at 3.16. germany selling government bonds. september 12, right in the middle of a debate around the supply. euro-dollar, 1.08. brent crude just short of $89 per barrel. want to get to the global rates in more detail because it is turning into quite a bit of divergence. the u.s., you've got bets growing that the fed pauses in september thanks to a cooling labor market. then you've got the ecb facing higher inflation rights -- crates and some officials say they need to hike again. marcus, let's get a little bit of historical context around this and where it could end up in the next three months. >> i'm not sure there's going to be that much divergence. i long-standing theory is that whatever the fed does, we saw earlier this year central banks for the second time because, perhaps now reflecting too early and we are forced to sort of go back on to the hiking route. the same time, clearly we've got both the bank of england and the european central bank white influx at

jp morgan bank has stopped processing payments for grain exports from russia, contrary to the wishesdepartment reported this to reuters. us official washington urged not to sever ties with the russian agricultural bank and wait for a possible extension of the grain deal. let me remind you that the interaction of banks on payment for agricultural exports ceased on august 2, earlier the russian agricultural bank was disconnected from the swift system as part of the eu sanctions without achieving the lifting of the restriction. russia withdrew from the deal. it was news economics in short. new studies of the oldest mummy of the alpine iceman have changed scientists' understanding of people who lived during the copper age. the mummy of the iceman was discovered in the alps in the ninety-first year, where he lay for 5,300 years. all these 30 years, scientists continue to study beautifully the bodies and artifacts preserved in the ice, and dmitry naidov will tell the details of new research in the program question of science immediately after the advertisement. allow yourself more every mo

jonathan: we will have another round of conversation with bob michele from jp morgan. ures are down by .3%. apple is in the crosshairs of u.s./china tension. the weight on tim from jp morga. equity futures are down by .3%. apple is in the crosshairs of u.s./china tension. the weight on tim cook's shoulders. the need for this iphone 15 successes never been so needed. that will be coming up in about 30 minutes time. from new york, this is bloomberg. ♪ ♪ ♪ ♪ (lovely day) ♪ ♪ (lovely day) ♪ ♪ (lovely day) ♪ a bank that knows your business grows your business. bmo. >> we are moving away from a recession and the early part of the year, a recession is very much in the cards and in fact, if it were in the play out we should start seeing a moderation and then sells love. jonathan: brent crude $90 and about 60 students, $91.50 is the high for the year. where we are is 91 .45. global oil market is facing a supply shortage of more than 3 million barrels a day next quarter. the biggest deficit and more than a decade of saudi arabia as they extend production cuts a little higher off

as in may and his power players at a meeting organized by jp morgan. and he was came shortly after a meeting with the ceo of black rock, which is really going to be the main beneficiary in terms of the grant. whatever remains of the ukrainian run state coming out of all this the of the why they hear you. he wants to privatize the, the looting it's, it's extraordinary. okay. and you're right. it was a meeting that really went under the radar, but it was really significant. if you can pump in out of the, the tax payers go private, okay? and then they can, just as you know, take all the flesh off the bones of what's ever left here. any you live in france, what is public opinion? is public opinion changing against it? against my crown, against nato. you've already mentioned the events going on in north africa. is there a shifting mood? go ahead petty. i have to say something. i do believe that. now the public opinion stopped to be 3 me angry. even letting go of the condition in which people have to leave. and we of the left lucky raising the open use the c

. >> mayor breed was also quick to point out that jp morgan chase hosted its convention in san francisco back in january and wrote about its, quote, incredible experience in the city. >> one of the most iconic companies in us history is overhauling its logo. the region's schools are behind the change. >> plus, a new age of travel. the next car from cruise. that's a little boxier, but a whole lot more inclusive and hispanic and latin american heritage on full display, the rich stories and culture being celebrated in the south take care of them and take care of you. tomorrow on good morning america. >> breaking news now. a major gun control proposal by governor newsom has cleared the state assembly. that's according to politico. governor newsom's right to safety bill calls for the legislatures in other states to come together to vote in favor of a constitutional convention. now, the governor wants to impose a so-called 28th amendment, which would require universal background checks and raise the firearm purchase age to 21. it would also institute a firearm, purchase waiting period and ban

i mean, i can understand zelinski selling to black rock and jp morgan, most of ukraine or was of ukraine. but why is it the global south, the still enjoying the delight, z y k b m g p, w. see the big for about how to change their entire economies to make them better. according to them, you don't. government in the developing was also are very complex creatures. they'd be reflected particular political economy. and often they reflect the interest on their own edits. and sometimes those are, these are what we used to in the old days called comfort, or that is that interest tied up with multinational capital as well. so it's not that the governments are representing really the interest of the people. i would say that's true even in the globe or not. i mean this whole thing about giving so much file as so many subsidies and been power to pharmaceutical companies that produce the vaccines entirely above the cost. but then we're allowed to judge really privy to prices and retain the benefits that didn't tend to benefit anyone other than the phone companies and the finance companies that had in

madison of jp morgan investment bank.ing into this rate decision, eric nelson. good morning. rate hike or no from the ecb? >> we think it's a pause. we had the reuters decision -- report this week. this is not something i am fully buying into. look at the speech from a couple weeks ago. if you wanted to push from a height, she would have. she is one of the most prominent hawks. >> forgive me for asking this but why do you think they leaked it? what was the purpose? >> who is day? was it a rogue hawk or two or the overall committee? that is what we don't know. >> there's this question of whether they will emphasize patients or their primary mandate, which is inflation. what would be the justification for a pause given that inflation has not come in and as much as expected, especially if they increase their forecast for next year? >> you have to look at not just the growth situation but also the pace of hikes. they have done a lot of tightening. even skipping here is justifiable with inflation where it is given the growth o