she is here with laura keller who covers banks. laura, let me start with you. six income has been a lead story so far. how critical is this to goldman sachs, even who they are and where they come from? bond trading has always been something that is definitive for them. and they really need that. they have been lagging behind their peers. we did see a little bit of this last quarter. analysts have put them in the middle. jpmorgan over a 45% decrease year-over-year. 29 percent for fixed. so we will see if they come in here. if they do, they are still nd jpmgan. income infixed jpmorgan and bank of america are not the same thing. what is the reader cross to goldman from the warnings that we've seen? someone like jpmorgan, rates and currencies are very big. and they also saw help on the credit side. credit is a bigger product for bank of america. they are not as big in the macro but it is a broad-based strength across the business, that will be good for goldman sachs. david: goldman has stuck to their knitting. they haven't changed. might they be in a position to re

for more on his departure, what comes next with bloomberg banking reporter laura keller. thanks for joining us. tim sloan, the coo, takes over. he is closely associated with stumpf. is he associated with this scandal? >> you have hit on what investors probably want to know. we have been reading a lot from iflysts who are wondering sloan can really deal with this. mark: so reputational damage. is it too early to say that his departure draws a line in the sand? is too early. there are a lot of investigations going on. potentially, we will have the sec investigating. i am not sure we are out of the woods but very much, the bank would like to move on. they see this as a way to move forward. vonnie: this is a colossal mishandling of a situation, right? they should have gotten out in front of this and not let it fester. was it hubris? >> why now? i think a lot of analysts have said look, his performance on capitol hill was very damaging reputational he and otherwise. and at that point he already needed to go. to get further from this. that he performance gave, those missteps, b

very much.ks that is laura keller and michael regan joining us. mike mayo joins us. welcome back. you are a student of these banks. what is going on? >> what you had here was 34 days of misery for wells fargo. had thells fargo fad -- regulatory settlements, they struck out. this is some of the worst crisis management i have seen in my three decades of covering the banking industry. they were reactionary, they did callbacks, and they didn't intervene early enough. they knew about the problems since 2013 and didn't fix them in time. that, i think the change in ceo helps turn the page to a new chapter. the new chapter gives the new ceo, tim sloan a chance to try to make victory out of defeat. one millionmake phone calls, give $100 million extra. that will be $1000 per customer. let's have 100% accountability going ahead. david: so where is the leadership? is it going to come from tim sloan or we have a new chairman now who was the ceo of general mills. where is the leadership going to come from? board, clearly, they didn't actually take this action.

jonathan: alison williams, senior banking analyst for bloomberg and laura keller. if you want to follow the action on morgan stanley, you can do that on the top blog. saudi arabia poised to sell a record $17.5 billion in the biggest bond sale ever from an emerging market. .oining us is matthew martin great to have you with us. there was some concern about a conversation at the roadshow that perhaps it would dampen demand. does not look like demand is down in any way. matthew: exactly. the order book of around $60 billion so clearly had investors -- clearly investors have put aside -- and it shows the global hunt for yield that there has been a big story over the past couple of years, is really continuing. that is fed into the huge order book that saudi arabia has managed to achieve. it has been a great success for saudi, especially as a debut issuance and it looks like we will have an issue up to 17 and a half alien dollars, taking it the largest -- 17 and a half million dollars, taking it the largest emerging market sale. jonathan: the story today in the middle ea

andd: that was glenn schorr laura keller. thank you very much.e european union delayed its agreement on a proposed trade agreement with canada. this is bloomberg. ♪ david: let's head over to abigail doolittle for a check on the markets. abigail: one of the big stories we have the idea that seen yields rising as investors expect the fed to raise rates this year, perhaps more than once, into next year. but the flipside of the story is what it actually means for the value of hans. to yield trait is inverse price and our team saw an interesting chart today. showing this for the 30 year. the long bond. and we see that is down nearly 4% for the month of october so far on pace for the worst month in more than a year. so when we take a look at the side that we are more used to looking at, this is the 30 year yield for the month of october, this is actually the biggest the 30 year bond since february of 2015. supporting the idea that investors think a could raise rates this year. this could also be supported by the consumer price index over the last three

alex sherman joins us now with jennifer and laura keller a bloomberg news. proper to turn to you first. bloomberg broke the story. what are the most important elements? and i'm my take on this not seen all much written on this yet is that i think the deal is sort of a damning critique of what is tv everywhere in the media industry, this idea that was coined seven years ago by comcast on a stage at a cable show in 2009. you can get tv on any device you want. that was the idea. you buy tv from comcast or time warner cable and you get the stuff not only on your tv but your phone and tablet, and the house and out of the house, but it has not happened. here we are in 2016 and that still doesn't exist. my read on this is that at&t is buying time warner in part because they have thrown in the towel on this idea and it's too hard to get the content companies on the same page. why don't we just by time warner and then we can forcibly say we're going to push something where you can get directv in your home, video through at&t on your mobile devices, and at least we wi

oliver renick is taking on laura keller. ladies first. >> i thought since u.s. up earnings would take us from trading into retail deposits and retail banks. the cht is showing us non-interest-bearing deposits from 2010 up to the third quarter of this year. we are a little bit cut off on one side of the chart. it shows us the non-interest-bearing deposits, which is like your checking accounts that don't pay interest is a consumer, as have been rising over time. each bar represents four of the biggest banks in the u.s. the blue one is wells fargo. that bank has dealt with a lot openingals around unauthorized accounts for customers. it has been the fastest growing bank for deposits. they told us last month new accounts went down 30%. we may see change. as interest rates are on everyone's mind now, brian moynihan told us even when rise we probably will not be getting any more interest paid to us in those accounts. that is a good thing for banks. david: thanks very much. oliver, what do you have? >> i immediately regret not being more topical since banks are the stor

thanks to laura keller and mike regan.oming up, we will hear from the man who oversees $3 trillion for u.s. -- ubs. this is blumberg ♪ -- this is bloomberg. ♪ vonnie: you are watching bloomberg markets. vonnie quinn. david: and i'm david gura. now it's time for the business flash. enrollment in the obama care insurance marketplace is likely to slow down. this is the fourth open enrollment for individuals to choose insurance plans under the affordable care act. beignificant slowdown will another setback after big insurers pulled out of many states because of mounting losses. amazon is hiring 20% more seasonal workers this year. that's the anticipation of a strong holiday season. it's adding 120,000 positions, 20,000 more than last year. workers will take spots in fulfillment and sorting centers and its customer service sites in the united states. last year, more than 14,000 employees were shifted to full-time roles after the holidays. plans to close call centers in five states, including its home state of new york. the gove