matt: we will hear from mike mayo and other names.ill be busy as wall street reports earnings. what can we expect? sonali: it is an exciting quarter because it is a mixed bag. we have trading moderating for the first time in 70 months -- in so many months, and so our market share gains and losses. we saw ipo's start to pick up again in october, so what you saw in the summer may not carry over into the later part of this year, loans as well. some of the things that pushed loans further, will they last? mortgages, for example, as rates go up, will people still be willing to borrow as much money for a booming housing market? these are the conundra that face jamie dimon first, but a lot of other banks throughout the week. matt: thank you for joining us, bloomberg's sonali basak. she covers wall street. for us as she mentioned, mike mayo will join us as well. he will be bloomberg -- she will be on bloomberg tv within the next hour. that's an interview you do not want to miss. amanda? amanda: and on that, we learned today that global wheat

taylor: pivoting a bit, yesterday we spoke with mike mayo at wells fargo. he has been hinting that banks need to pivot quickly to rival fintech's or become technology companies, if not consolidate some of the other fintech players if they can't compete, buy them. our banks pivoting fast enough to be able to take on fintech players? >> i think they have done a good job in terms of technology and investments over the years. if you look -- everyone likes to talk about demos as an example. the banks had zelle, which was actually bigger. the banks have been leaders in some areas, partners in other aspects and acquirers in some segments. i think the banking industry has adapted and will continue to have to adapt to stay competitive, but $60 billion a year on technology, that something we think they will be able to benefit from. caroline: thank you, jason goldberg. an excellent conversation with barclays managing director and senior equity analyst. up next, we discussed where we stand in the growth versus value debate. that's next. this is bloomberg. ♪ taylor: we

mike mayo coming up, 2:30 p.m. in new york. this is bloomberg.next. ♪ (announcer) looking for a better way to lose weight and feel good? how about the one with the 98% success rate and the more affordable weight loss solution? that's golo. there are no monthly fees and it's guaranteed to work or you don't pay. how can golo offer all of that? because it's not like any of those diets you've already tried. it's the new way to lose weight. no stimulants, no starving, just results. results you'll keep for life. no more sacrificing to lose weight only to put it back on. no more sacrificing, period. it improves your lifestyle and delivers incredible results. with over 2 million satisfied customers, golo is the new way to lose weight. this is the only program i have ever done that i have never deprived myself of anything. (announcer) if what you're currently doing to lose weight isn't working, or you feel like diets don't work, you're right. don't give up. get golo. go to golo.com and get your life back, with golo. (chorus) golo! >> the countdown is on i

mike mayo even doing some of the parts. jonathan: thank you for weighing in on this. in this conversation -- i think this conversation is going to continue for a long time. citigroup up today in the premarket. for the stock, $70.88 -- $70 28 cents. this stock has severely underperformed. tom: i must admit, i am still scarred by the 10 for one reverse split. i move the decimal psychologically to $7.08 per share after the shenanigans of 2008-2009. what is stunning to me, you look at a given powerpoint presentation and do the sesame street thing, which one does not look like the other. citigroup right now doesn't look but the others. jonathan: mr. corbin had a tough job. ms. fraser has one, too. tom: i want to go to the powerpoint and make clear what sticks out to me is a challenge to narrow the return gap. what does that mean in english? >> it means first of all, citigroup shares are still trading lowest in terms of price to net tangible book value. so the market is looking for catalysts, not necessarily just normal operations. but what do you do with disparate business

joining us now, wells fargo securities senior banking analyst mike mayo.s. >> thanks for having me. >> my first question is a broad one, which is, i know you're constructed on the banks sector, but how positive are you relative to the last five years or so, because for the most part, you have maintained more buys than sells over that period of time. is this as constructive as you have been or somewhere in the middle >> well, we certainly upgraded several of the largest banks in the middle of the pandemic and a year ago, when i was on your show, it was about defense. it was about the resiliency of the banks and a year later now, you see that credit quality of banks has been far better than anybody expected credit losses are at a half century low. but now, for the banks, it's really about offense, and wilfred, i'll give you two for tuesday. one, we still expect an upward rating of bank stocks to the stock market as a whole. third quarter was a turning point, the 1st time traditional banking revenues increased for a few years. more loans, higher rates, we exp

wells fargo's mike mayo givens us his earnings preview on cnbc.com more "squawk on the street" comingarl. carl, say hi to nina, our schwab financial consultant. hm... i know how difficult these calls can be. not with schwab. nina made it easier to set up our financial plan. we can check in on it anytime. it changes when our goals change. planning can't be that easy. actually, it can be, carl. look forward to planning with schwab. schwab! ♪♪ >>> bitcoin is on pace for its second straight positive week. here to discuss what he's seeing in the space is needham's john good to have you on here >> thanks for having me on >> getting a lot of the attention. not too far from the springtime highs. coin-base shares not doing as much not matching a lot of that action what fails to translate perhaps into coin-base excitement about the platform at this point >> yeah, i think what ultimately is going to get the stock going a little more is if we can get revenue diversification outside of exchange trading and into some of the other product lines. and we can see that coin base can deliver on other pro

. >> turkey, cheddar, avocado, lettuce and mayo, and little bit of mustard. that's my usual. >> mikeneighborhood. he worked in the drugstore forever. he saved his money and opened up his own spot. we're always going to support home grown businesses and he spent generations living in this part of town, focusing on the family, and the vibe is great and people feel at home. it's like a little community gathering spot. >> this is the part of the city with a small town feel. a lot of mom and pop businesses, a lot of family run businesses. there is a conversation on whether starbucks would come in. i think there are some people that would embrace that. i think there are others that would prefer that not to be. i think we moved beyond that conversation. i think where we are now, we really want to enhance and embrace and encourage the businesses and small businesses that we have here. in fact, it's more of a mom and pop style business. i think at the end of the day, what we're really trying to do is encourage and embrace the diversity and enhance that diversity of businesses we already have.

. >> turkey, cheddar, avocado, lettuce and mayo, and little bit of mustard. that's my usual. >> mikeorhood. he worked in the drugstore forever. he saved his money and opened up his own spot. we're always going to support home grown businesses and he spent generations living in this part of town, focusing on the family, and the vibe is great and people feel at home. it's like a little community gathering spot. >> this is the part of the city with a small town feel. a lot of mom and pop businesses, a lot of family run businesses. there is a conversation on whether starbucks would come in. i think there are some people that would embrace that. i think there are others that would prefer that not to be. i think we moved beyond that conversation. i think where we are now, we really want to enhance and embrace and encourage the businesses and small businesses that we have here. in fact, it's more of a mom and pop style business. i think at the end of the day, what we're really trying to do is encourage and embrace the diversity and enhance that diversity of businesses we already have. we're

. >> turkey, cheddar, avocado, lettuce and mayo, and little bit of mustard. that's my usual. >> mikeorever. he saved his money and opened up his own spot. we're always going to support home grown businesses and he spent generations living in this part of town, focusing on the family, and the vibe is great and people feel at home. it's like a little community gathering spot. >> this is the part of the city with a small town feel. a lot of mom and pop businesses, a lot of family run businesses. there is a conversation on whether starbucks would come in. i think there are some people that would embrace that. i think there are others that would prefer that not to be. i think we moved beyond that conversation. i think where we are now, we really want to enhance and embrace and encourage the businesses and small businesses that we have here. in fact, it's more of a mom and pop style business. i think at the end of the day, what we're really trying to do is encourage and embrace the diversity and enhance that diversity of businesses we already have. we're the only supervisor in the city tha

. >> turkey, cheddar, avocado, lettuce and mayo, and little bit of mustard. that's my usual. >> mikeorhood. he worked in the drugstore forever. he saved his money and opened up his own spot. we're always going to support home grown businesses and he spent generations living in this part of town, focusing on the family, and the vibe is great and people feel at home. it's like a little community gathering spot. >> this is the part of the city with a small town feel. a lot of mom and pop businesses, a lot of family run businesses. there is a conversation on whether starbucks would come in. i think there are some people that would embrace that. i think there are others that would prefer that not to be. i think we moved beyond that conversation. i think where we are now, we really want to enhance and embrace and encourage the businesses and small businesses that we have here. in fact, it's more of a mom and pop style business. i think at the end of the day, what we're really trying to do is encourage and embrace the diversity and enhance that diversity of businesses we already have. we're

. >> turkey, cheddar, avocado, lettuce and mayo, and little bit of mustard. that's my usual. >> miken the neighborhood. he worked in the drugstore forever. he saved his money and opened up his own spot. we're always going to support home grown businesses and he spent generations living in this part of town, focusing on the family, and the vibe is great and people feel at home. it's like a little community gathering spot. >> this is the part of the city with a small town feel. a lot of mom and pop businesses, a lot of family run businesses. there is a conversation on whether starbucks would come in. i think there are some people that would embrace that. i think there are others that would prefer that not to be. i think we moved beyond that conversation. i think where we are now, we really want to enhance and embrace and encourage the businesses and small businesses that we have here. in fact, it's more of a mom and pop style business. i think at the end of the day, what we're really trying to do is encourage and embrace the diversity and enhance that diversity of businesses we already