jp morgan is a global bank.n benefit now from some of the pressures easing off of europe because they have been extending some much into europe. they have been fighting on all fronts here. they have been expanding into equities and fixed income trading's in a volatile market, really benefiting from that extra risk-taking. also, that benefit of higher interest rates will benefit jp morgan more than anybody else, given this scale of what they have in the united states and what they are able to make from that interest. the americas the other when you think about that front. i would say the big question, going back to the beginning of this question -- of this conversation, is should some of these challenges persist into next year, what new headwinds does jamie dimon and everyone else start to face? amber: thanks so much tuition olive asset for providing that analysis paired we're going to take a quick break. what is the largest oil services company have to say about the future of electric vehicles? that interview is

america and morgan stanley.hat happens when on the balance sheet, what looks like quantitative easing has to go back into quantitative tightening? i think that is the question. guy: you bring up the issue of the fed and what is happening with rates. the biggest counterintuitive move to me has been the rally we have seen in tech. some may see it as a safe haven trade. alix steel was pointing out what was happening with the bitcoin story. the narrative still seems to be lower rates by tech. and i'm wondering, as bank of america pointed out, whether that is the wrong interpretation. is the market getting the wrong message here about what is really going on? kriti: i think the tech outperformance is as simple as when there is some round of panic in the rolled, and i -- in the world, and i am over simple fine, you buy american. when the fbi see headlines came in, the trade overnight in asia that day was you by u.s. treasuries, you buy the dollar and by nasdaq futures. that is the exact trade you saw in the presidenti

morgan chase. knew on friday with the bank failing there were 50,000 people that we needed to make sure got paid whose companies had already sent us money so we actually took about $130 million of our own capital and sent it out the door to make sure everybody got their paycheck friday and moved heaven and earth to do that. ed: katie ruth texted me and has been writing about your situation. given now the spv situation is more resolved, what will you do with that $500 million? parker: we raised the money to make sure we would be able, even if the fbi see did nothing, we would be able to backstop our client funds. as it turns out, depositors were protected so we now, ripley, is incredibly well-capitalized. we have almost $1 million on the balance sheet. ed: what would you have done if the deposits were not insured? parker: we wanted to make sure any company that sent us money we were going to get their employees paid. that was why we wanted to make sure we had this as a backup plan to a backup plan t

morgan wealth management. alix: u.s. stocks are climbing.a banking crisis are easing for today. >> it's a broad-based rally. the s&p 500 up .6%. to the point of it being broad-based, these are the best point winners for the s&p 500 but they also happen to have big percentage gains. tesla up nearly 6%. moody's upgrading them to investment grade. exxon mobil up 3.6%. oil is climbing. j.p. morgan chase up 2.8%. cooler heads prevailing around banks. we also have the benefit of yields. yields on the day are surging over the last two days. the two year yield up 30 basis points. let's put that into the context in the bloomberg terminal chart. the two year yield floating between 4% and 5% for the better half of the last year. then during jay powell's testimony to congress going above 5%. then plummeting below 4%. the rsi coming off the bottom suggesting that we may see the two year yield go back toward levels it had been ahead of the collapse of silicon valley bank. never a dull moment, never a dull chart. guy: you would have thought the two-year wo

dan skelly of morgan's -- of morgan stanley.ou start planning recovery to a recession we have not had get, i hear a lot of that. lisa a: that has been the theme until it was not anymore. that is what people are starting to rethink it which is now. tom: that is the question of the week. how do you play defense here? it is so defense that you have to spell it like the canadians and british do. it is so simple. that's what everyone is thinking this week. jonathan: i do not know how you do that. the pushback is anyone. they were financial institutions that were rate and investment height which should not have been based on their performance. credit suisse right is negative almost 9%. 1.80 five swiss. that name is breaking down still. tom: the chart is text but as of 20 minutes ago. jonathan: in the next hour, anastasio amoroso of next capital. lisa m: keeping you up-to-date with news from around the world. with the first word, i am lisa mateo. turkey is nearing ratification of fillon secession into nato. -- of finland secession into

morgan wealth management. >> from new york city for our viewers worldwide, i am katie greifeld. bloomberg real yields starts now. coming up, to the break and back for the banks ripping up global rate hike expectations ahead of the fed as the primary market goes dark. we begin with the big issue, all eyes on powell. >> silver gay -- >> signature -- >> first republic -- >> it has been a boring time -- >> good bank and bad bank, what everyone a call it the kwak friction in areas of the financial markets -- >> investing weakness wherever they can -- >> the bond market is the place where you see the volatility express itself -- >> the fed hiking rates next week has the potential to be the greatest gap -- >> policy option becomes more and more restrictive -- >> next week's meeting is a tough call. i think they should pause. -- >> it is remarkable chair powell sees this 50 basis point hike tuesday and 24 hours later the financial stress began -- >> it makes you worry about the tip of the iceberg. katie: joining us no

morgan wealth management.hat does it mean to be ever better? its your customers getting what they ordered when they expect it. discover how ryder ecommerce makes your customer's experience ever better. no, it's literally never crossed my mind. what if we live to like 100? that's 35 years of being retired. i don't want to outlive our money. and i have been eating all these stupid chia seeds! i could totally live to be 100! why do i keep taking such good care of my- since we started working with empower, we're able to get all our financial questions answered, so we don't have to worry. so you never- no. never. join 17 million people and take control of your financial future to empower what's next. start today at empower.com introducing j.p. morgan personal advisors. hey david! connect with an advisor to create your personalized plan. let's find the right investments for your goals. okay, great. j.p. morgan wealth management. >> you and to be again in the middle. you and debbie yet again flip-flopping. you and up

morgan wealth management.n: a look at that -- ritika: goldman sachs losing joe monsanto, a key player into the number one rank in equities for two straight years. his pay rivaled the 75 million dollars awarded to the goldman ceo, david solomon over a three-year period. he does not have another job lined up. formula one racing season began over the weekend. a defensive back to back titles by winning the race. formula one has become a sensation in the u.s., in part due to the netflix series drive to survive. we spoke with the principal. >> it has introduced formula one into a younger audience and -- an american audience. out of the 25 new partners we have introduced in the last three years, 21 of them are u.s. based. it is on fire at the moment. ritika: the u.s. will host three formula one races this year. tesla is cutting prices for the second time this year. they are lowering the price to $90,000 for model x. that is your latest business flash. guy: went to an minutes past 7:00. the top stories in the bay area

morgan wealth management. introducing j.p. morgan personal advisors. hey david!r personalized plan. let's find the right investments for your goals. okay, great. j.p. morgan wealth management. guy: an ugly inflation story out of the u.k.. a warning for other central banks. inflation rising. the first time in four months we have seen a re-acceleration. this will have an impact on the bank of england. now probably more firmly entrenched into the idea we will see 25 basis points. 10.4 was the headline. services call 6.7%. these are not good numbers if you are the bank of england. morgan stanley's chief you qe economist joining us now. 25 basis points looks nailed on. why did we get this number wrong? we anticipated we were going to see headline inflation down and the cordwood drop and that would give the bank of england wiggle room. we all got it wrong. why. >> there were several factors. part of the story for headline inflation is food inflation re-accelerated. this was the case across europe. if you look at the euro area numbers, at sweden, at norway. where we are

christie had malic from jp morgan. -- christyan malek from jp morgan.bloomberg. ♪ what do you get from the morgan stanley client experience? listening more than talking, and a personalized plan ♪ to guide you through a changing world. ♪ alix: take a look at a market that can't make up its mind headed into the weekend. earlier in this session we were starting to roll over and now we are only down by .3%. we don't know what's going to happen to svb and first republic and now there's deutsche bank as well. s&p is down 1%. bloomberg dollar index getting a nice build, the dollar is the outperformer. where else do you go? you do well in gold futures. we are down to touch. there are some stocks that are moving individually. no, this is the two year yield. we are down by eight basis points. we have activision, u.k. regulators giving it a bit of thumbs up. citizens financial, can also be looking at as vb assets. first republican is out. that is it for us. guy: that was a fast market check. have a great weekend everyone, this is bloomberg. ♪ get help reaching you

morgan wealth management.s easy to get lost in investment research. introducing j.p. morgan personal advisors. hey david! connect with an advisor to create your personalized plan. let's find the right investments for your goals. okay, great. j.p. morgan wealth management. what does it mean to be ever better? its your customers getting what they ordered when they expect it. discover how ryder ecommerce makes your customer's experience ever better. >> we are squarely focused on doing our job, and you should rest assured we will remain vigilant. i look forward to continuing to work together. alix: you are listening to secretary of the treasury janet yellen. we will update you more. she just finished her opening statement, talking about how the banking system is safe and sound and integral to the american economy and is focused on doing her job. it sets us up for our question of the day, which is are we headed for a minsky moment? the market might be telling you know what are we headed for it and what is it tellin

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morgan wealth management.ed: micro foss -- microsoft is infusing open ai. the new software suite will debut in the coming months. microsoft is testing it with several companies. ceo spoke with emily about how changes are happening. >> it feels it is happening fast. it was started working on this a good four years ago. in some sense you can think about one open ai and microsoft came together and say, the next generation of a large language models need new infrastructure, let's build infrastructure, tune the infrastructure. this just being four years plus in making once we started seeing upscaling the facts, the promise of the emerging capabilities even that started showing up in the large language models, that is why last year, the application of these large language models inside of copilot was the biggest product out there today. that gave us confidence that we can apply in more conscience -- context appeared it has been four years in the making and a great partnership. caroline: the industry pioneer says tha

morgan: thank you for having me. yes, at nfx, we are believers in network effects and believers in stablecoins. hearing michael bar acknowledge stablecoins in that way i am trying to stay net optimistic, but i'm admittedly a bit nervous that oversight could go too far. i do not necessarily see network effects and these assets taking off quickly as a bad thing. it feels like he is coming at that with a negative tone. caroline: that was the ultimate demise of dm when it had to sell itself to the likes of silver gate bank. in and of itself, some of the assets, it went into unwind because they did not feel the regulatory environment was ready for that. what do you hope to hear from regulators that they automatically -- ultimately relies the importance of stablecoins. you wrote an essay on this. morgan: i am hoping to hear that the u.s. government recognizes stablecoins are a huge asset. so, dollarization is something the u.s. government has been trying to push for over 200 years, not necessarily in scalable ways. the u.s

morgan stanley, jp morgan, citibank, the whole list of the larger banks. the thing that people have been forgetting is our job as an investor, as a fiduciary sitting on the board to these companies, is to make sure we are giving them the best device and to help them think about what they need to do. for a large set of us, we started giving this advice a couple weeks ago, more so over the last week and over the last 24 to 48 hours. it is about diversifying the risk and how you are sweeping that cash, into treasuries depending on how many deposits you have in the first place. the second piece is that a lot of these companies do rely on banks. silicon valley bank was a pillar of the committee that helped support -- of the community that helped support a lot of venture funds. they were a lender for capital. funds banked with them, the funds themselves. this reverberates pretty quickly in the ecosystem around what it will look like for not just the companies but their backers. we do not bank with svb. we bank with a larger set of providers, and our capital call

morgan wealth management.line: we continue to watch the fallout of silicon valley bank's sudden collapse. we understand apollo, kkr, blackstone showing interest in svb's loan book. here to cover it is sonali basak. >> we have a loan book worth more than $70 billion. the question is will apollo, kkr blackstone start to bid on parts of it or all of it. more likely they will bill -- they will bid on parts of it. this is a loan book that has not lost a lot of money. there are a lot of questions about underpinning considering silicon valley bank was so aggressive. sometimes unprofitable companies. apollo, kkr, blackstone are credit experts. the idea if they take on these loan books, they take on these clients and they feel they can do a better job at managing these loans. there are other assets as well, including the venture on the asset manager on the investment bank that worked on about $9 billion worth of deals last year. caroline: we still have to think about where the value is. we were just talking to mel over

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we have learned that jp morgan, morgan stanley and other traders are buying that my two cents and selling them at two cents on the dollar. bonds can actually turn into claims on credit suisse. they are still not yet a zero because ideal has not closed. it will take another few months for that to close. these traders have until then to figure out how to make money out of these bonds that are supposed to be worth zero. >> what is the latest on how the merger is being received so far? >> the market still figuring out the way forward. you so ubs shares down 16% and then up 7%. eventually settling around 1% higher for the day. investors are still trying to figure out how this will play out. they are not happy they have had to pause the share buyback plan. there was a plan to buy back about $5 billion worth of shares. that will not happen. ubs has to figure out what it will do with the credit suisse investment banking business. they will try to divest a bunch of non-core assets. that will not happen overnight. there are a lot of question marks about how this merger actually will benefit ubs. pe

morgan wealth management. kriti: this is bloomberg markets. today's interest rate decision is perhaps hoping traders chart a number of unknown variables. so many questions. who better to ask then michael mckee now joining us from the federal reserve in d.c.. i imagine you have a long list of questions to ask chairman powell. what do you think you will answer? mike: that's a tough question. the issue for the chairman is, how does he manage to make the case the fed is on top of the banking system? the banking system is not falling apart, yet, the fed still need to raise interest rates because inflation is still a problem. that will be his challenge. we will get the statement, the projections for the economy. then we have seen in many past meetings that by the time those come out, the market trades one way and the chairman comes out and the market trades another. it's a balancing act kriti: kriti: for him today. k what do we expect to hear on the quantitative tightening front about the balance sheet, despite, the

morgan wealth plan, a new tool in the chase mobile® app.ack your goals, big and small... and see how changes you make today... could help put them within reach. from your first big move to retiring poolside and the other goals along the way wealth plan can help get you there. j.p. morgan wealth management. >> as regards to job cuts, it is too early to say. we have clearly -- we are clearly cognizant of economic factors. we will be considerate employers, but we need to do this in a rational way, thoughtfully, and when we have sat down and analyze what we need to do. rishaad: that is the ubs chairman: keller after the takeover of credit suisse. because of that, recruiters across the world are getting unprecedented calls from bankers from credit suisse of his three looking for new jobs as the lender's is a takeover by ups. yvonne: let's bring in our correspondent. anne-marie, really a global effort from our colleagues, great story. give us a sense of what is happening with all of these credit suisse employees anxious about their jobs. daniel:

morgan wealth management.ks to avalara, we can calculate sales tax automatically. avalarahhhhhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh david: somewhata run of the banks 1.7% on the sector benchmark. this is a breakdown within the specific asia pacific banks, tremendous pressure. curious to see what happens when india opens up. the names are still not moving. when the market opens up in an hour. let's bring in belle. she's been tracking the story for us. the pressure continues, here. more are telling their funds to avoid the specific bank in silicon valley. annabelle: we have been reporting on this this morning. to give context on one the bank is, it is based in california it came to the vc sector. where it is feeling the pain point is the collision we are seeing between the bond market crash and the tech market crash. you take a look a

morgan wealth management.hen you automate sales tax with avalara, iling returns. avalarahhh ahhh >> more likely than not, we will see a recession with the rise in unemployment and some negative prints in gdp. have a rate hike cycle of this magnitude and how quickly that is going to be the outcome. of the odds of a hard landing gone up? they certainly have. shery: former fed vice chair on the likelihood of a recession. our next guest says the baking a people has not changed her market views and there are still buying opportunities. joining us now is lorraine tan directory -- director of research for morningstar. investors seem to have been spooked even away from asian lenders, despite the fact that the backdrop seems to be very different in the region. so, where are the opportunities? lorraine: hike. we haven't really changed our views, we are still looking at where there is value and, it tends to be still within the cheapest sectors, that includes both the tech and consumers areas. as you mentioned, there are

between the rescue efforts by jp morgan and the reassurances i byjp morgan and the reassurances thatust now from janet yellen, we are seeing that shares a first republic have jumped up shares a first republic have jumped up by shares a first republic have jumped up by more than 25% in trading today. rememberthat up by more than 25% in trading today. remember that the bank shares had created by more than 75% over the last week—and—a—half as investors were very concerned that it could possibly be the next bank to fail, but these kind of reassurances coming from the banking sector and from the treasury secretary have lifted confidence. how much of this new—found confidence that we are seeing on the stock market is investors thinking perhaps their federal reserve will hold off when kate comes to raising interest rates?— interest rates? yes, i think that's re interest rates? yes, i think that's pretty much _ interest rates? yes, i think that's pretty much the _ interest rates? yes, i think that's pretty much the consensus - interest rates? yes, i think that's pretty much the consensus sti

morgan?>> wow. contessa brewer, thank you. >>> up next, the ceo of carnival in his first broadcast interview since taking the top job at the cruise line operator. it's been a volatile session after guidance came in soft but bookings hit a record level. that interview is coming up on the other side of this break. we are back in two. >>> welcome back. about a couple hours into trading, dow is holding gains up to 190. let's get post to post with bob pisani. >> still moving, still up for the s&p 500 but most of it is the banks. we better get some diversification. here's first republic. we take a look, look at that volume, 72 million shares. that's on the silicon valley bank deal and also hopes maybe deposits like slowing down a little bit. i think the important thing is discussions about ways maybe the government can enhance their emergency lending ability for banks. maybe that's giving a little bit of hope here. but remember something, this was $120 a month ago. i know we're rallying today but i

morgan wealth management.as also the first time your profits left you speechless. at the counter or on the go, save 20% with the lowest transaction fees and keep more of what you make. start saving today at godaddy.com introducing j.p. morgan personal advisors. hey david! connect with an advisor to create your personalized plan. let's find the right investments for your goals. okay, great. j.p. morgan wealth management. caroline: time now for going viral, today we focus on twitter, who will be removing verified marks next week as it works toward a model where only paid subscribers, members of approved organizations have the status. the move to strike legacy verification begins april 1 and is one of the earliest policy changes announced by elon musk who described the existing program as corrupt. shortly after taking over late last year. joining us is ace accounts. remind us of the verification process prior to elon musk arriving. >> before elon musk came on, it was similar to what you would see at any other soc

morgan: morgan norwood, nbc news, new york. kumasi: a longtime employee of the police association will face charges in a drug smuggling case. amanda del castillo is in the south bay with more on this. amanda: not just any employee. we are talking about the union's executive director. investigators say joanne segovia used her home and office computers, even the union's ups account, to purchase and distribute thousands of opioids and other pills. a criminal complaint details homeland security agents were investigating a network they say ships controlled substances made in india, which then led to segovia. she allegedly had mailed to her home from countries all around the world. some were even labeled wedding party favors. drill investigators are said to have intercepted those shipments, reporting they found thousands of narcotics pills. this was part of a scheme to distribute the drugs across the u.s. we spoke with the police union's president about the allegations. the woman is a 20-year employee of the union. >> shocked. became

morgan, morgan stanley will help them out and we will get the latest up date.estern alliances higher by 25%. ken griffin recently made his investment there and even with that lifeline, they are rallying 2% for the big banks. in the european story, that was rocking markets this morning. there are still questions about financial stability in that part of the world. the ecb president expressed her concern. >> we are monitoring current market potential closely and stand ready to respond as necessary to preserve price stability and financial stability in the euro area. the euro area banking sector is resilient with strong capital and liquidity positions. kriti: strong capital and liquidity positions, you heard it right there. is credit in the clear? -- it -- is credit suisse in the clear. let's bring in francine lacqua. always a pleasure to have you on the show. walk us through the developments here. it is a takeover likely? francine: it's an absolute mess at the moment because there was injection of capital. they looked at the facility so this morning, when the sto

morgan and vichy of morgan stanley. is it that black-and-white question mark is a recession and inevitable at this point? >> i thick it is not as black and part -- black and white. it is very difficult to say in point and say this is happening imminently. we don't have a good sense of how the tighter financial conditions and tighter lending conditions that will come out of what we expect to come out how quickly and how it will play out, i think it is safe to say the prospects for growth have gone further. we have the deceleration of growth that we have been seeing and it probably continues on that and the chances of a hard landing. the timing of which is yet unclear. katie: on that point, we caught up with a rep of deutsche bank earlier today and he said tighter credit could lead to a landing that some will not anticipate. let's take a listen. >> we do think ready conditions are going to tighten the way we have tried to quantify it, suggesting it could be .5% of growth or certainly more than 1% but it is difficult to ga

morgan wealth management.d: welcome back to the show. we are looking at evs in this part of the equity market. electric, some of these moves. we were having a conversation with the nio chief financial officer, and they said the losses, that is basically a 2020 story. "let's look ahead." yvonne: they sounded very confident with their sales target, talking about doubling it. we are up close to 8%. geely auto, another earnings story. good vibes spreading into the sector. you can see byd is up 4.5%. a broad-based rally when it comes to developers, energy. thanks even doing well, even tech. tencent is the next one to watch. david: we'll unpack what the tencent story and what the green shoots might be when they come out with the earnings story when talking to analysts earlier on -- later on. the market seems confident that we will not get the boogeyman in the fed tonight. we will talk tencent in a couple of minutes here >> the reopening is definitely supportive of the ad spending and there's an additional layer for

morgan wealth management.as also the first time you heard of a town named dinosaur, colorado. we just got an order from dinosaur, colorado. start an easy to build, powerful website for free with a partner that always puts you first. start for free at godaddy.com this is ge aerospace, advancing flight for future generations. ♪ welcome to a new era of flight. it's easy to get lost in investment research. introducing j.p. morgan personal advisors. hey david! connect with an advisor to create your personalized plan. let's find the right investments for your goals. okay, great. j.p. morgan wealth management. >> this is a different situation than the financial crisis. the banks is not a question of confidence in banks, it is not about the economy collapsing. in the last recession, during the great financial crisis, we were in recession beginning december 2's -- 2007. we are not now. jonathan: the former new york fed president speaking to us yesterday, this is what he said this morning in a bloomberg opinion column.

morgan wealth management.haad: a clear reason why the catalyst is the moment. the hang seng is at 1.4%. we are also looking at perhaps these chinese stocks that are u.s.-listed. on the way up, even though the biden administration is nearing completion of an executive order that would restrict exports that help china's technological advantage. looking elsewhere at what is going on with hong kong. let's look at those in more detail. there we go, oil prices moving to the upside. that is helping the energy industry group is the best performer on msci china. alibaba and china h-shares definitely on the advance. mitsubishi heavy is under bit of pressure now. it is heavy because of this h street rocket launch failure. it had to be given a self-destruct order. there we go. yvonne: we talked about the launch and then when we entered the show, they said there was a district commander that was made. that failure is certainly bringing the stock down. but the rest of the market, what a turnaround. china is lifting the rest

morgan wealth management.ne: here is your latest business flash headlines. toshiba has accepted a buyout offer from japan industrial partners. it is a 10% premium over toshiba's closing price on thursday. it gets toshiba a step closer to ending years of uncertainty after multiple scandals. shares up 5%. apple plans to spend a billion dollars a year to produce movies that will be released in theaters. it is a part of an effort to raise its profile in hollywood. it includes films from martin scorsese and ridley scott. aside sure is joining the growing list of companies that is laying off workers. they will cut 19,000 jobs. over half of the jobs will affect people in nonbillable corporate functions. haslinda: let's take a look at where chipmakers in japan and korea are trading. japan and then restrictions to experts to south korea. aimed at improving long fractious ties between the two sides. samsung electronics trading on the outside. 6/10 of 1%. hsbc down 3%. games for tencent and lenovo. these days, our househ

morgan wealth management.t's easy to get lost in investment research. introducing j.p. morgan personal advisors. hey david! connect with an advisor to create your personalized plan. let's find the right investments for your goals. okay, great. j.p. morgan wealth management. caroline: wall street leaders and u.s. officials are discussing intervention at first republic bank, discussing the possibility of government banking. this after we learned pac west has beefed up liquidity after deposit exodus from its fed chair banking segment. meanwhile fintech startups have moved to provide emergency funding to companies. they told bloomberg late seen record business from startups that have funds trapped in silicon valley bank. joining us to discuss the macro and innovations of their own, the co-ceo who is not only on boarding in a rapid rate but you are also announcing new product offerings. talk to us as a highly valued startup in this environment that has been looking to serve as finance professionals in particular wi

morgan wealth management.dvancing flight for future generations. ♪ welcome to a new era of flight. it's easy to get lost in investment research. introducing j.p. morgan personal advisors. hey david! connect with an advisor to create your personalized plan. let's find the right investments for your goals. okay, great. j.p. morgan wealth management. >> i have made clear there is no trade-off between price stability and financial stability. we have plenty of tools to provide liquidity support to the financial support if needed. and to preserve the smooth transmission of our monetary policy. >> hawkish stuff from president lagarde of the ecb. euro-dollar very close to 108 this morning. welcome to the program. euro-dollar looks like this. positive 2/10 of 1%. equity futures down going to chairman powell's news conference later and fed decision. in this statement in the early part of the statement there is this phrase ongoing increases. i wonder if that gets dropped today. >> no forward guidance if they say it and t

lena howland is live in morgan hill with what residents are doing to prepare.south for the possibility of more than two inches of rain and this atmospheric river, valley water cruise or hard at work yesterday . they dropped off more than 4200 sandbags to this location in morgan hill, which were quickly picked up by folks bracing for the worst. when it comes to santa clara county, for this storm, the southern part is expected to get the most. places like morgan hill and gilroy, who saw serious flooding at the start of the year. valley water cruise spreading out across the region to keep waters flowing, making sure there are no blockages, and gearing up to avoid a repeat of january's storm. as they brace for the next atmospheric river, we found a few people saying they were not taking chances this time around, stocking up on sandbags to protect their homes. >> we will try to get as ready as possible. that is all you can do. you know? with this kind of weather, you just do not know what it is going to become a bad or worse. >> sometimes stuff gets wet. a little da

morgan wealth management.hat do you see on the horizon? uncertainty? or opportunity. whatever you see, at pgim we can help you rise to the challenges of today, when active investing and disciplined risk management are needed most. drawing on deep expertise across the world's public and private markets in pursuit of long-term returns... pgim. our investments shape tomorrow today. it's easy to get lost in investment research. introducing j.p. morgan personal advisors. hey david! connect with an advisor to create your personalized plan. let's find the right investments for your goals. okay, great. j.p. morgan wealth management. caroline: betting against jack dorsey, hindenburg research strikes again, if forensic research outfit and a well-known short seller, this time claiming that the company that jack dorsey runs was facilitating people who frozen government stimulus during pandemic. title is down 20% on the news. hindenburg research claims that after two years of investigation they understood that cash app was

morgan chase or morgan stanley, bank of america.nvestors i've spoken with have said that they will probably advise a very diversified strategy which, here in financial news land, we talk about diversification too much. quite a lot. never too much. who knows? that seems to be the messagea that investors are given to their companies. david: it even when into the extreme of, do you divide your money? you make that the cut off and you make 10,000 accounts. our reporter on the latest. let's hear from a venture capital fund in terms of a player. joining us to talk us to the implications on the industry itself is melissa, managing partner at arbor ventures. pleasure to have you. i have to start off by asking, do you have any exposure, are any of your portfolios to this bank -- exposed to the bank? it has been the heart of silicon valley for a long time. >> only two of the companies out of 30 were thursday afternoon stock at svb. us at arbor were as well. our wires went in thursday, they were not sent out. today we were not access to access

morgan wealth management. go. go green. go wind turbines. go gorgeous reliable grid.erson software. go science people. go breakthrough meds and safe science. go space age welds for super silent cars. go big. or go home. from software that delivers new cures at warp speed, to technology that makes clean energy reliable, emerson innovation helps make the world healthier, safer, smarter and more sustainable. go boldly. emerson. it's easy to get lost in investment research. introducing j.p. morgan personal advisors. hey david! connect with an advisor to create your personalized plan. let's find the right investments for your goals. okay, great. j.p. morgan wealth management. >> i believe in a few months, three to six, business will be back to normal. we of course encourage our founders to leave everything -- lead everything by three months of money in silicon valley bank, they had three months of cash outside. we did not want to cause a bank run. at this point, fbi see money is safe. we are encouraging founders to put money back. ed: that was the founder of coastal edges.

jp morgan asset management and rate portfolio manager. coming up, we will look at rising rates putting pressure on commercial real estate. the chairman and ceo of equities is going to join us next. this is bloomberg. it's easy to get lost in investment research. introducing j.p. morgan personal advisors. hey david! connect with an advisor to create your personalized plan. let's find the right investments for your goals. okay, great. j.p. morgan wealth management. it's easy to get lost in investment research. introducing j.p. morgan personal advisors. hey david! connect with an advisor to create your personalized plan. let's find the right investments for your goals. okay, great. j.p. morgan wealth management. >> i lisa mateo. you are looking at the principal room. coming up, and inks collusive roundtable on the baking breakdown across bloomberg left forms. this is bloomberg. keeping up-to-date with news from around the world with the first word, i am lisa mateo. in rance, they're more strikes against president emmanuel macron's push to re

morgan wealth management.david: let me ask you about being secretary of commerce. penny: yes. david: you are a very successful business person in chicago, very active in civic events and so forth. all of a sudden, someone you knew, barack obama, becomes president of the united states and in his second term, you become secretary of commerce. why did you want to uproot yourself and moved to washington for the second part of his administration? did you enjoy being secretary of commerce? penny: i loved being secretary of commerce. it was an honor of a lifetime to serve our country and serve in his administration. barack obama and i have a relatively long history. i met him when my kids were five and seven years old. their basketball coach at the lincoln belmont y was michelle robinson's brother craig. -- craig robinson. i met barack and michelle when he was a state senator and i think she was working at the university of chicago. i had known them for a long time. i knew what terrific individuals they were, and whe

guy: jp morgan and morgan stanley acting on their own discretion?ng nudged towards this by the regulators? >> there is a little bit of both. first republic like i said, there is a lot to like about it. remember they sold off a lot. there a lot of things that have been discussed in the last couple days n this time period first republic, they are stock heavy bounded. looked like they were in the woods, and then cut to junk by s&p. that's when things changed in the market. you are seeing their exbid capital here looks -- equity capital here looks different than two days ago. when it comes to the federal reserve and the banks and the fdic bear and charge, regulators are always in charge when it comes to the banks. alix: i have to have the feeling that jamie diamond has learned his lesson from 2008. the trauma that happened after that. i feel like this line has to be real clear >> let me speak in generalities. we had a lot of discussions. that is absolutely true. certainly the case for silicon valley bank. there are ways to get it done. that primary way

joining us now is a jp morgan asset management. nice to see. >> is europe outperforming on that or whether or lower gas prices? what is driving this. if i go back three months, you are looking at the prospect of a european economy, and we have a looming problem which is this gas situation, and when you look at levels of industry, we are a 10 year high for the gas position. you've lifted a cloud over the region, and at the same time, you have the earning strength coming through. the banks being the standout, and also, more broadly across other sectors, and the starting point was favorable, and looks favorable today. for me, this is a catch up. it is only getting started. >> how much further has it got to go and what will it drive going forward? >> i think we are in a world were equity multiples will continue to come under pressure. this is not an environment where central banks feel comfortable with roaring equity markets. for me, this is one where you look across the board, and you think, the headline returns we have seen across mo

morgan wealth management.: it is time for the bloomberg business flash. a look at the biggest business stories right now. bitcoin is having its worst week since november. and of fear of selloff over higher -- selloff over fear of higher interest rates. bid cloning -- bitcoin fell below $20,000 for the first time since january. the u.s. is trying to close a loophole on chinese service -- server makers. it allows companies like intel to keep supplying them as affiliates. they are added to an export blacklist. gap shares are lower after sales missed estimates. they struggled to attract shoppers during the holiday season despite his -- discounts. they been looking for a new ceo since july. that is your bloomberg business flash. alix: we appreciated it is 7:21 silicon valley starts its morning. there is only one story we are speaking with caroline hyde. what is happening with svb. >> sadness and fear all combined. i was sitting on your show yesterday and the numbers started trickling in. the portfolio companies sta

morgan wealth management. the x-axis in 2007 was funded by leverage. in 2021, we are funded by equity. while we will have some amount of distress, i don't believe the distress cycle will be anything like we saw in 2008. i think most of the pain will be borne by equity. alix: that was the apollo global manager and cofounder speaking to francine lacqua earlier today. post powell positioning into payrolls. what is it? confused everybody, so what happens into tomorrow morning? ann berry, threadneedle founder, joins us. where is the market set up for tomorrow? ann: i think it is completely discombobulated. we will see the market heading in limbo until the numbers come out, and they will dictate whether we see a 25 or 50 basis point hike. guy: discombobulated. great word. if we get a blowup number tomorrow, how does the market react? if we get a week number, how does the market react? how big is the spread between one or the other? ann: it could be huge. 825 basis -- a 25 basis point hike is huge. if we see a strong

. >> thank you very much, vice-president morgan. we need a second, please. >> i'll second. >> thank you very much, commissioner fraser. [roll call] >> the motion is unanimous. >> item four, chief of department's report. report from chief of department, jeanine nicholson report on current issues, activities, and events within the department since the fire commission meeting on february 8, 2023, including budget, academies, special events, communications, and outreach to other government agencies and the public. >> deputy chief tom o'connor on the administrative divisions, fleet and facilities status and updates, finance, support services, and homeland security. >> madam secretary, i welcome chief nicholson. do we take public comment before the chief's report, madam secretary, or is that after? >> after she prepares her report. >> thank you for the clarification, welcome, chief nicholson. >> thank you, nakajo and fraser. >> thank you everyone who is here from the safety and wellness part of our department. welcome to you all as well.

morgan wealth management.er? its your customers getting what they ordered when they expect it. discover how ryder ecommerce makes your customer's experience ever better. go. go lights. go big city lights. go spotlights. go stadium lights. emerson software helps clean energy become reliable electricity. go “good night." go boldly. emerson. paul: here's a quick check of the latest business flash headlines. goldman sachs is losing its stock trading rainmaker whose pay has rivaled even that of the ceo. he recently informed the firm that he is stepping down as head of equities trading for the americas. but has yet to line up a new job. he is a key player in goldman-s assent for two straight years. south korean social media giant kakao is seeking a 35% sm stake. the regulatory filing is showing that it is offering 150,000 won per share, for up to 8.3 billion shares, coming after the arrival hybe fell short. buying just over 230,000 shares of 120,000 won each. tesla has lowered the price of its most expensive models.

morgan wealth management.d: all right, let us go to talking about the time you started the company, and what you were doing at the time you started it. so you started it into 1012, as i mentioned. what were you doing before you started? did you know a lot about cryptocurrencies? where were you working? brian: before this, i was a software engineer and product manager at airbnb, the home rental company. and you know, i had studied computer science and economics in school. i tried creating a couple other startups that were not very successful. one of them in the education space. i was working at airbnb. they were trying to move money to 190 different countries all around the world, both collecting payments and paying out the people renting their homes. i was one of the engineers seeing how difficult it was to move money globally. both how opaque the fees were, how long the delays were, the chargebacks. all kinds of things like that. so, you know, at that time, this was around december of 2010, i believe, i read

morgan wealth management.an: equity futures with a little lift on the s&p 500, up just a 0.1%. for the team at bnp, carl riccadona is looking at 575 on peak funds. it's about 16% from the close yesterday. lisa: what is the trigger for the reversal? we price and higher rates and earnings expectations that are coming down with margin compression we have seen. what's the trigger now. jonathan: 575 and growth decelerates, that's the view. they don't believe that the numbers we saw in january will carry on. tom: i would suggest there is a bet we will have disinflation. it's still in the market. jonathan: do you need growth to get hammered? tom: the growth slowdown is not so much and maybe disinflation is not that much. lisa: if you get declining growth for the rest of the year and then people say maybe inflation is not so bad and maybe we can ask to go down then reit's come in and you have the beginning of a new cycle. the bulls are arguing that it takes the pressure off the fed and accelerates some sort of pause.

morgan wealth management.t's easy to get lost in investment research. introducing j.p. morgan personal advisors. hey david! connect with an advisor to create your personalized plan. let's find the right investments for your goals. okay, great. j.p. morgan wealth management. ed: time for a quick wall street beat where we take a dive into wall street. today, circle choosing france as its european headquarters. interesting the conversation with cathie wood, the u.s. might not be the for -- the most friendly regulatory environment. caroline: almost like a competition to wall street. what is interesting with circle was the exposure to silicon valley bank. we got a deep egg of its -- id peg of its stablecoin. notable that london is trying to be the place, u.k. is trying to be the place for european regulatory space for crypto, but france seems to be winning out. ed: i remember five years ago when circles main job was to move money between borders. coming up, we will talk about generative ai and the security landscap

morgan wealth management.ffice 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. guy: ecb president christine lagarde is giving testimony before the committee on economic and monetary affairs in the european parliament. this is taking place in brussels. the line she has come out with in her opening statement is similar to what was delivered last thursday. let's take the temperature of what is happening because this comes off a week and where we thought the ubs-credit suisse deal put together. maria tadeo is there for us. the statement looks fairly similar. any differences, and what kind of questions do you think she is going to get? maria: well, not for the statement, because there is one thing we should make clear. what we see today with madame lagarde is not exceptional and not a response to the ubs deal and credit suisse that happened yes