helping to build portfolios that redefine what's possible.nvesting isn't one size fits all. allspring. purposefully divergent. >> welcome. i am john hyland with the first newsprint all cords and -- covid origins are on the table. a joint team from the who in china had said the spread of the virus between animals likely caused the pandemic. this week, the energy department joined the fbi in saying a lab leak from china is more likely to be. russia's president vladimir putin met with members of his security council today after denouncing a attack as a terrorist attack. officials in kyiv dismissed that as a set up aimed at

that's another area we are adding to the portfolios to build the high-quality portfolio to weather potentialtorms. katie: come into the conversation, when you look at the corporate credit market at this moment, where are you seeing opportunity, in what areas -- and what areas are you avoiding? vishwanath: our recommendation remains looking for high-quality fixed income, perhaps away from regional financials, regional banking sector where there is probably going to be more supply to come. our expectation is banks, particularly regional banks, play defense and defense is the new form of offense. as part of the defense, he sure more liquidity, more cap into the markets and perhaps more supply to come. there's potentially in some of those you see more supply pressures and maybe what we were suggesting is looking at away from them in high-quality industrials for investment grade market and very much supportive of the agency and vf market, one market that is significant [indiscernible] and that is something we are very concerned about. katie: to this point on what we are talking about when coming

they tend to warehouse that risk in the portfolios.es less turnover, hence less liquidity. it's almost like a lack of liquidity begets more liquidity. >> the vicious cycle. akbar, where are you seeing value in your portfolio? how are you measuring jurisdiction risk as well when it comes to emerging-markets? >> we continue to see value in the sense that the em universe is a large universe with thousands of issuers and multiple different business models. our approach is to look for high-quality businesses we think generate strong cash flows, with good governance. even if a tough environment, we think those companies should have alternate sources of financing to refinance short-term obligations. we are being very selective. we recognize the next 12-24 months, the refinancing opportunities may be limited, and we have to be very selective in the kinds of companies and countries will enter money to, to ensure we get paid back. -- we lend money to, to ensure we get paid back. >> thank you so much, julia and akbar. you can get more on the top

you also note all the results exceeded as you see here, a 60/40 global portfolio and 60/30/10 portfolio. you recall in 2017 and 2022, we chose to adopt asset allocation policy which was expected to generate less volatility then our peers. you see in the tables below, in fact, let me go back one page, if that's all right, just to capture-if you look at the lower right tables there, you see in terms of volatility, over both a 3 and 5 year period, the volatility of the fund as measured by standard deviation was in the bottom 4 or 5 percent of your peers. if you combine low risk with very strong equity returns to try to normalize and compare your fund to other funds with different asset allocations, that is done through what is called the sharp ratio, which ask merely taking the return on your portfolio, minus the risk free rate for the period, which was very close to zero, and dividing that by standard deviation. that is what is called the sharp ratio, and in that ratio again, a risk adjusted return per unit of risk taken or volatility risk taken, you are in the top 1 or 2 percent of your

vc is advising portfolio companies to cut ties. ed: this is really accelerating after hours, down 17% now. we have not gotten to reporting that according to a source gregg becker, the ceo of the bank held court with vc earlier today basically saying keep calm. caroline: thus far, not call. founders fund and y combinator advising their portfolio companies to consider ending relationships with silicon valley bank. there is so much more on this story. this is bloomberg. i screwed up. mhm. i got us t-mobile home internet. now cell phone users have priority over us. and your marriage survived that? you can almost feel the drag when people walk by with their phones. oh i can't hear you... you're froze-- ladies, please! you put it on airplane mode when you pass our house. i was trying to work. we're workin' it too. yeah! work it girl! woo! i want to hear you say it out loud. well, i could switch us to xfinity. those smiles. that's why i do what i do. that and the paycheck. everything's changing so quickly. before the xfinity 10g network,

helping to build portfolios that redefine what's possible.esting isn't one size fits all. allspring. purposefully divergent. for businesses of all sizes, allspring. there are a lot of choices when it comes to your internet and technology needs. when you choose comcast business internet, you choose the largest, fastest reliable network. you choose advanced security for total peace of mind. and you choose a next generation 10g network that's always improving, getting faster; more reliable; and more intelligent to keep you ready for today and tomorrow. the choice is clear: make your business future ready with the network from the most innovative company. comcast business. powering possibilities™. >>> senior markets commentator mike santoli sitting next to me for his "midday word." 3940 and 407 and you know what i'm talking about, don't you. >> sure. it's s&p at the 200-day average and obviously the ten-year bond yield. it's been interesting in how low intensity the whole kind of grind lower has been nothing has really refuted in terms of the mes

a lot of health-care names in consumer discretionary in the portfolio.lso allocated towards bonds about a quarter of the portfolios and liquid alternatives. the bright spots we see in the portfolio are really and oversee equities -- overseas equities investments. we have tailwinds that should help out a lot. vibration multiples, high dividend yields in the softening of the u.s. dollar hopes those investments quite a bit. that's where we are excited when we look over the long term and encouraging our clients who are corporate executives, family business owners and entrepreneurs stayed focused. haidi: take a look at this chart which suggests the divergence we see when it comes to volatility. we could see a move ahead for the s&p led by tech. that divergence does suggest we could see -- if you take a look at fixed versus realized versatility, that is the guidance we are getting. when it comes to tech we saw the big move up in the nasdaq 100 1.5% higher. are you pacing these assumptions on a slower rate environment from the fed? do you think there's opportun

>> we believe that portfolio companies should have been diversifying where they hold their money in the first place it is a message we have always given people you should have your money in multiple financial institutions and that diversifies your risk i don't believe, we do not know, but i don't believe depositors will lose money. >> they may not lose money in the long run, but for cash burning startups, some of those in your own portfolio, timing is of the essence they have to make payroll. what do you tell them, especially the ones that didn't take their money out there was a big scramble yesterday, and you were voicing to hold steady in retrospect, do you take any responsibility for not telling your startups to get their money out? >> deirdre, if you're in a movie theater and it is not on fire, and you yell fire and everyone races out, are you the person congratulating yourself that you got out first while other people are laying on the floor? i think right now that what is going to happen is depositors are going to be made whole, we are in a problem over the next week which is ther

beyond that use the bond market as a proxy to build a strong portfolio.ventually rates will come down f you get a 5% dividend next two years, price appreciation and interest rates to me that is a win. a balanced account is the place to be. charles: that is the trifecta. phil, thanks a lot. appreciate it. >> thank you. charles: my next guest has been making waves recently with his comments on this megaboom, right? everyone is hearing about the zero options. not everyone understands what it is all about. i want to bring in academy securities head of macro strategy peter sheer. peter, first of all what is the genesis of this? i have seen charts that go back a long ways. it was barely a blip. all of sudden zero data options expiration becomes a big craze. how did this even happen? >> i'm not 100% sure myself. originally we had monday, wednesday, friday expirations. a year ago they added tuesday and thursday. you had all of sudden a real potential to trade every day. take away that, back in 2021, we were watching in 2020 the gamma squeeze. a lot of calls bough

is different from an under water cal-fed portfolio.ome of the banks we're talking about now, i have to be careful. it's easy to create a run on th banks. some people on twitter seem to be destined to create a run on the bank and that's not our job. you have to recognize what you said, which is that, where was svb, a very good bank, five days ago? >> yeah. >> why did they -- it didn't have to happen this way. >> no. no i think -- i don't think it did. many market participants are saying the same. they scratched their heads in terms of at least why they did what they did the way they did it knowing what they did. if that makes any sense. >> you know, they have a lot of enterprise software companies having come public, dave how are those doing? >> yeah. that will be helpful at some point, maybe, jim. >> yeah. but you know what i would do, carl if i had to spend -- what would you think if i took a day off, it was my birthday, and i called in >> it's like doing a long workout at the gym on your birthday >> by the way, from california so, i

our task is to form a portfolio. a-a social projects, at least 100 billion rubles. here is an example of one of these projects at the end of the 19th century, the merchant vasily kokarev, acquired several courtyards on the embankment of the moscow river. but if you look in this direction, that is, with a view of the kremlin and then, under the leadership of the architect ivan blueberry, united them so that the metochion arose with four-story hotels and shops for merchant goods. the right side of this object was lost, but the main facade was preserved in its original form a and many elements from the interior, which is also the subject of protection, the project is being developed thanks to the public private partnership according to the taxonomy of the sberbank, it passes according to the criterion of preserving cultural heritage, the object is part of the historical architectural city ​​center. our task. now the existing building is to be restored through reconstruction with the preservation of all architectural ensembles inside and outside of this building, and to

speaking to portfolio companies about getting out. can you walk us through some of the steps i got to this point you have been reporting on? guest: like you said, the past couple years money was flowing very easily and so -- in silicon valley. people raising very high valuations. companies will sometimes sound business models and sometimes not were easily able to raise boatloads of funds. that started to grind to a halt last year. since yesterday, the last 24 hours in particular, it seems like venture capitalist and their portfolio companies have been in a mad -- to figure out, -- a mad dash to figure out over the course of yesterday should we have our companies move money out of silicon valley bank. should we have faith in silicon valley bank? it is a storied institution, they have specialized banking services for startups. it is there bread-and-butter. literally called silicon valley bank. it seemed that one point yesterday there was a bit of a herd mentality, a lot of people are moving money and people are talking about moving mone

this is a time to provide value to your portfolio companies.eed to listen to them and support them. many vc's are able to do that. or provide resources. there are other opportunities for people to come in. if you have payroll and have been tied up in silicon valley bank and that money, maybe $250000 is available monday, you are in a deficit of about $100,000 this monday. everyone is quite nervous. it is the time to support our founders. caroline: parker conrad of rippling, which in many ways is a company that helps payroll, they discovered yesterday the silicon valley issue and they have their own exposure. they notified some customers that some payroll processing will be stalled because of svb, even though they switched the banking to jp morgan in large part. does this have a cascade effect? what do people do about not being able to make payroll? two they have to let people go. jenny: it is an interesting question. the most important thing is there is open communication. when there is not good communication with employees, that is when things

the mismanagement of the treasury portfolio is probably something that the 15th largest bank in america should not have had on their bingo card of things that could go wrong the fed has moved really quick ly that turned a lot of things upside-down, that people weren't specifically worrying about are going to come to the fore. liz made an excellent point. it's not necessarily about systemic financial contagion, but it's sentiment contagion and in some way that is actually can be just as bad or more damaging if people just lose trust in the entire system. the banks do rely on trust, they rely on the fdic, but they rely on people being calm and this episode does the opposite so i think it's a really big thing right now that we should all be respectful of even though there are probably going to be some opportunities here, and so the only personal is jpmorgan. jpmorgan reversed green today. that has more to do with what treasury rates did than anything else, but we'll take it. that's exactly the way jpmorgan should act as an equity, as a stock. the other thing i would point out you hear all

of equity shares, proportional to the amount of the portfolio. they will receive profit, mr. eshgh stressed that the whole process of paying equity dividends should be done only through the sejam system, and there is no need for people to go anywhere or send a text message. damage from citizens and companies the automobile manufacturer requested its vehicles to be placed in covered areas, weather cleaning for parts of the southwest of the country has simplified the orange level warning, the intensity of rain in tehran, alborz, zanjan, qazvin , eastern azarbaijan, south west, ardabil province, kermanshah, lorestan, khuzestan and ilam at the level we exported oranges, bakhtiari, hamedan, central qom, i have to experience this city, semnan, and i forget who the shores of the caspian sea are, in the same way , today, tomorrow, i want to go to the north, without the necessary equipment and fuel on the way, and the venue of the tehran book fair. he was announced as the cultural vice president the minister of culture and islamic guidance said that this

for the jobs at those portfolio companies and to the broader ecosystem.hink we're relieved of how it's turned out and thankful that the system in some ways work in that the depositors were protected here the ramifications of not protecting the deposits of small businesses would be extreme. now we're looking at the ramifications long-term. >> what are those ramifications? >> we have to think about the jobs our jobs are two-fold, thinking about the founders and how they support their businesses venture has a clubby component to it. silicon valley bank was part of that club. we have to look at how that -- elements of that club created some of these issues i think really opening it up and creating a more sustainable and stable way for us to fund these companies over time. >> the culture thing, as a depositor, that feels like something you could suss out there's a debate about what -- how much of your bank's risk profile you look into, as a depositor, right do you think that as an aggregate depositors were lax or not? >> no. i think really it's unfair to hold

think about when compiling a portfolio.s that an issue here? >> a lot of people don't know what esg even stands for. what is esg? it means different things to people. easier to think of it as risk management. he esg is just data and assessing risk has always been part of investing. investors want to know about things like rising sea levels or how it could impact these operations. it is important to stress that esg is not the same as impact investing. the goal is to make money by investing in companies with positive impact on the planet or society. jack otter: a lot of portfolio managers i talked to don't count themselves as esg investors, environmental issues and government issues, it can blow up in a shock. norfolk southern is an environmental issue, and 3m is another one that comes to mind. no one knows whether it will have to be liable for cleaning this up. whether they count themselves up as esg investors or not. carleton: talking about risk mitigation, that makes a lot of sense to me. how is it esg is such a politicize

helping to build portfolios that redefine what's possible.ng isn't one size fits all. allspring. purposefully divergent. (woman 1) i just switched to verizon business unlimited. it's just right for my little business. unlimited premium data. unlimited hotspot data. (woman 2) you know it's from the most reliable 5g network in america? (vo) when it comes to your business, not all bars are created equal. so switch to verizon business unlimited today. ♪♪ choosing miracle-ear was a great decision. like when i decided to host family movie nights. miracle-ear made it easy. i just booked an appointment and a certified hearing care professional evaluated my hearing loss and helped me find the right device calibrated to my unique hearing needs. now i enjoy every moment. the quiet ones and the loud ones. make a sound decision. call 1-800 miracle now, and book your free hearing evaluation. >>> hello, everyone. what a busy monday it is welcome to "power lunch. alongside kell

the 60-40 portfolio, 60% in stocks. within that 60%.e the united states third or more of the equity portion of your portfolio outside the us. oversee stocks, historical underperformance relative to the us, 12% annualized in the last 10 years, only 4% outside the us. jack otter: the response is the companies in the us are better. andrew: all you need is the s&p, 1/3 of earnings in the s&p are national so he would argue the best companies get international exposure. jack otter: another part of the stock market that underperformed is small caps. should investors think about increasing that our location? andrew: they underperformed for 5 or 10 years, valuations are historically low. a good idea right now. jack otter: if the falling dollar continues, it looks good for domestic sales. been made a reference to age, getting more conservative as you age, the conventional wisdom. carleton: people think of it as all or nothing. when you look at people who are looking at retirement in 10 years, you should start thinking preservation of capital vers

if they have losses on their bonds and ratings and agencies question their portfolios, well, you might not get your money back at least as far as you like maybe take your money out of your bank all together, that hurts national lending now, you could say who cares, there are plenty who might not have much exposure to the broader economy. hey, maybe you like tech, but go read mark zuckerberg's incredible epistle where he nailed on the meta platform's gourd today. he's at the vanguard i like tech but i'm not oblivious to how sensitive this industry has become. i think they're rallying because the market is undersold. when it comes to the fed's next month you think they'll take into account the layoffs from silicon valley as startups may have had their lifeline pulled by the collapse of the silicon rally bank i don't know there's cross currents everywhere a fantastic set of numbers this very evening from the giant national homebuilder, monster top and bottom line beat while giving us some stronger than expected forecasts for orders and deliveries in the current company. while it's great f

helping to build portfolios that redefine what's possible.ecause investing isn't one size fits all. allspring. purposefully divergent. was 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 every day, millions of things need to get to where they're going. and at chevron, we're working to help reduce the carbon intensity of the fuels that keep things moving. today, we're producing renewable diesel that can be used in existing diesel tanks. and we're committed to increasing our renewable fuels production. because as we work toward a lower carbon future, it's only human to keep moving forward. kriti: we are getting breaking news when it comes to credit suisse. at least four banks have curbed trades with the swiss lender, according to reuters. they will restrict some swap trades and limit the risk. it looks like reuters is talking about deutsche bank also climbing o

what about collapses with portfolios and property debt >> as we were chatting earlier, none of this is lineal i could see a couple of weeks or months of stability. we start to see the tightening take hold that we have seen, the tightening of lending and portfolio companies feeling more stress and these things take time to play out there are more risks lurking out there. the question is when do they man manifest >> erik, is the fed too fixated on the wage price spiral it is a backward indicator amazon laying off 9,000 workers. this is stretched across to the banking system and surely there will be concerns around the tightness of credit and what it means for hiring from here my question is whether we have a fed that is too backward looking now. >> i'm glad you brought up wages. if you look at the average earnings numbers and an last sio the seven job reports, they are trending lower if the fed wants to justify a pause, they can look at the wage numbers. you see the fed focused on the housing numbers and that is another way to talk about wages. you make the point of forward looking. that

it’s just that if it is determined that its loan portfolio needs provisioning additional, then simplyf this capital is available, and our banking system today has enough capital, then it will be calculated. in this way, it is possible that he will not even need additional capitalization, he will continue to be on the verge of sufficiency of this capital in accordance with the legislation, for example, if in a bank, for example, the bank lent a lot of loans in the eastern territories , and for example, this entire loan portfolio is now in default, and well, the bank will have to diagnose the bank, i do not think that this will entail the bankruptcy of many banks, maybe not even one extremely optimistic at the moment, let's hope that there will be no bankruptcy, and mr. andrii, finally, i would like to briefly ask you about the new lending program for ukraine from the imf, whether you would like to do you understand how much this tool will be necessary for the current situation, well, look, it is needed because even the ministry of finance and the national bank are actively fighting to

he said this is a longer term investment for his portfolio he says this is a portfolio that has given that will grow more value over time because these are hard assets from bridges to ports across the country he thinks this is a return and he expecting turns of mid to high teens he is pointing to one that became valuable over time. he said he sees value here a vote of confidence for the embattled industrialist. >> seema mody, thank you >>> let's check on the top headlines with frances rivera in new york with the latest >> dom, good morning another norfolk southern train derailed in ohio this time 28 cars jumped the tracks near springfield. none of the hazardous materials cars deroiailed. less than a dozen residents within 1,000 feet of the site were asked to shelter in place for nine hours. >>> president biden spent his sunday in selma, alabama in the speech in front of the edmund pettus bridge, he talked about the civil rights movements and safeguarding rights today. >>> novak djokovic swung and missed to play in the u.s. organizers of the bnp in california announce he withdrew. he w

some of our companies have filled their portfolio to such an extent.rders, what i think today, how to fulfill these orders, we know it, we still have it in the ministry of industry. problem enterprise minsk automobile plant. e. we recently discussed this issue with the president and received the president's support for certain actions. the recovery of this enterprise, but today it has been filled with orders for more than 6 months. at that orders are stable. e. just recently, a very large advance payment for the production of equipment was received. it is about four billion russian rubles, so now it is very important to tighten up the internal mechanism, that is, production, the supply of component materials, in order to ensure the fulfillment of such tasks in order to keep pace with the times. you work closely with science and hear your customers. after all, today is the time for not only quick decisions, but also fresh ideas. svetlana okhrenyuk andrey novgorodtsev. on site import substitution of the belarusian universal commodity exchange for an inco

let's bring in senior portfolio manager of tortoise eco. been a tough run.natural gas had kind of a crash. oil has not really performed as many thought it would with china reopening, and the global economy reawakening. so what's your diagnosis of the issue initially in terms of why there has been this weakness? >> yeah, thanks for having me on. when you look at it, a lot of uncertainties in the market, a lot of discussion about a recession, and now with this banking crisis, is that the triggering event that's going to cause this recession. i think if you have a recession, really commodity price and tradeoff, that's really what we're seeing in natural gas and oil over the past several weeks. now, the question is how deep and how severe is it going to be? that's really put the energy stocks in a position where there's some really good long-term and short-term opportunities for investors. >> yeah, i was going to say, i guess, are we going to be free of those looming recession fears for a while, even if we don't get one statistically, that's going to be the psyc

the 36-month period has been chosen with full awareness that if someone chooses a portfolio of these certificates during this 36-month period, based on the current prices, it will definitely suffer. losses and losses are based on measuring the exact fluctuations of price changes oil has been selected in the previous periods of six months and we have a new space available to new players who can buy and trade crude oil. another part is the market investors in the investment market of the markets who can focus on the most static country. it has not been possible to carry out transactions until now in our country to invest in crude oil , with this situation . let's plan how much of production, production and market capacity, and do it this way. for one year, 36 million barrels of storage capacity have been allocated for crude oil and 36 million barrels for gas statements, which is about 4% of the countries' oil. iran's oil, considering the existing conditions and why we buy or sell these legal entities except in this way, let's see the new instrument at the beginning of the song. for the

the planning that was done, we received it in the stock portfolio of equity companies until tuesday, and after the calculations started, the files related to the banks have been prepared , which will be available to you today. today and tomorrow, how much did the company deposit to the account of all the owners who had deposited from two to tuesday, and the company did not deposit according to the timing of the payment of interest, which has a major part of the payment that is very low, which is now one million with one million shares of mashhad and 350 thousand tomans will be deposited for the 532 stock portfolio 1000 tomans of not having 121 equity shares, these people receive 621 in the first series, it is different and depending on how many days it takes to pay all the profits, the traffic of the banks is too much, which means that we are on monday and thursday, of course, on friday, there is a possibility that it will be deposited. i don't know if the arrangements have been made with the banks to make the deposit until the end of the work, and if it was a shareholder who did not

in some cases, they are telling their portfolio companies to stay put. there is a conversation coming out on calls between that and the company a lot. that is what i'm hearing but it is worrying. they keep pointing out there is a difference between that and liquidity prices. i do not understand the distinction but that is a consideration as well as they look into the health of this. alix: is not a solvency issue until it is a solvency issue. we will talk about this all morning. we appreciate you both so much. and our market conditions creating financial instability? we will put this question to our next guest coming up. this is bloomberg. ♪ every day, millions of things need to get to where they're going. and at chevron, we're working to help reduce the carbon intensity of the fuels that keep things moving. today, we're producing renewable diesel that can be used in existing diesel tanks. and we're committed to increasing our renewable fuels production. because as we work toward a lower carbon future, it's only human to keep moving forward. >> a lot of c

closed -- portfolio.sed -- portfolio. we explored the question of— closed -- portfolio. we explored the question of does _ closed -- portfolio. we explored the question of does this _ closed -- portfolio. we explored the question of does this remind - closed -- portfolio. we explored the question of does this remind you - closed -- portfolio. we explored the question of does this remind you of. question of does this remind you of the 2008 financial crisis with lots of commentators yesterday but i think it's important to continue asking that question today because of the huge impact that crash had in so many areas of people's lives, so i wonder what your thoughts are on any comparisons? i i wonder what your thoughts are on any comparisons?— i wonder what your thoughts are on any comparisons? i will repeat what i said any comparisons? i will repeat what i said yesterday. — any comparisons? i will repeat what i said yesterday, which _ any comparisons? i will repeat what i said yesterday, which is _ any compa

they actually told their portfolio companies to keep their money in the bank.poke to say that there needs to be some sort of rule about holding riskier assets, about the conflict of interest between the bank and venture capitalists and also just concern the. stuart: so bank -- >> venture debt. stuart: the managers at this bank, they were mistaken. they made mistakes. they made financial mistakes, risk mistakes. that's what hay did. >> the relationships. because you know that v -- svb was a banker to the about half of the venture-backed silicon valley. a very closed ecosystem, if you think about it, and a lot of people say they actually forced some of those companies, especially those that took venture debt from silicon valley bank, to the only bank exclusively with svb which which led them to have a lot of their money stuck in the bank, right? after it went under on friday. there were concerns about making payrolls for this week. stuart: you're the first person to raise the issue of venture debt. well done. [laughter] that's super risk -- susan: how it works is

we don't turnover portfolios a lot. these are changes. it is important, i think, to declare victory when you can and step back into high quality companies in duress. >> take a win when you can take a win. nancy, thank you very much >> thanks, frank >>> turning to financials and the worst sector so far this year first republic all driving the sector lower as the run on regional banks rolls on. not every stock in the sector is lower. smei is up for the year. joining me to discuss is stephen scouten from piper sandler. >> good morning, frank thanks for having me >> looking at the banks, we had a guest on earlier who said banks are trading seven times forward earnings the s&p is trading 17 times forward earnings are the banks set to discount so you jump in with both feet or stock pickers market >> it is a stock pickers market. there are more flows into the index at the front stage of that there is money to be made there if you know which stocks you want to target the names we feel strongly about are the flight to safety names the super region

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the 2nd risk is that a number of japanese banks project curly job trans post bank, have large portfolios or u. s. bonds with their funding was short term fund money. and those particular trades are now money losing. brad said, sir, thank you so much. now it's clearly been a big week for the us market. gimme a call to joins me now from wall street for the latest news. yes, bitcoin shooting up 30 percent and the price of oil diving. what's going on there? definitely, maria's a lot of some movement in all of those markets at the moment of the self, actually in bitcoin started almost on the day a year ago when they're a federal reserve started to their interest rates are cycle a to the an upside that did put a lot of pressure on a bit cons and now there is sort of the idea of speculation that the federal reserve soon might be done with increasing interest rates. and this is one of the reasons why a bit coins are coming back even if and weekly increase of i think at the end of was 35 percent is definitely not her usually done on the other side, oil down for the week by 14 percent. well, the i

about one of the reason behind the demise of silicon valley bank, which are these long term bond portfolios. now we've been speaking a lot about long term bond issues in relation to european and american bangs, but you've highlighted that there are looming risks in asia. could you walk us through what you see there? well, i think there are 2 sets of risk in asia and in japan. in particular, one is that japan is likely to raise its interest rates and that could generate some of the pressures on the long term. yen denominated bond portfolio that many japanese banks hold. the 2nd risk is that a number of japanese banks, project curly job trends, post bank, have large portfolios or u. s. bonds that their funding was short term fund money. and those particular trades are now money losing. brad said, sir, thank you so much. now it's clearly been a big week for the us market. gimme a call to joins me now from wall street for the latest news. yes, bitcoin shooting up 30 percent and the price of oil diving. what's going on there? definitely, maria's a lot of movement in all of those markets at the m

we learn how reckless the firm was with his investment portfolio last week.y were running in a way that made him insanely vulnerable to losses in the event of deposits. we were too cursory with the story in part because we were actually doing a screen of the top 10 stops of 2023 year to date and chose to rely on public documents that had been vetted by regulators for our work, no excuse, but an explanation. we should have gone deeper. while regulators were very strict with systematically important financial firms, they are a lot more lenient non systematic important banks like svb. so many of us got silicon valley bank wrong , because we relied on the regulators who were wrong. it does not matter. we need to be better than they are, and we weren't. when i get it wrong, i always own it. i got svb wrong . i can only pledge to do better going forward. "mad money" is back after the break. >>> coming up, cramer goes off the charts with a cure for the market's daily blues. next. ♪♪ the only thing i regret about my life was hiring local talent. if i knew about upwor

they have $600 billion in the health and maturity portfolio, yielding 2% or less.res in 10 years or longer. they have got $2 trillion in depositors that they're paying less than 1%. so if you got money at bank of america in a checking account or savings account, you're basically bearing the burden, carrying the cost for bank of america's bad investment decision with their low bond yielding portfolio. these deposes depast iters are lazy or stupid and they're banking on that they won't move their money. charles: i think they're banking on the uninformed. we were looking hiking rates 100 basis points. overall they think rates will be done. canada, euros, uk. if central banks start to pull back on this aggressiveness, the hawkishness, what does it mean for markets, david? >> well, charles, look the fed brought out the nuclear option over the weekend. why would they pause or pivot? if they're so incredibly smart, what they is going to work, it should be status quo, rate hikes should continue. there is disconnect. i think the market is being skewed by the fed coming in,

how hard was it for your portfolio companies?n: they want to know you are a legitimate business. it's not you can pull your money out of svb and transfer somewhere else. you have had to have another make account open. some people put the founds in a personal account because they had no other bank account. it has been a challenge to figure out where else you're going to put your money. you're signature influence together starter banks and other businesses, of course j.p. morgan and citi. you are also seeing some folks trying to open a j.p. morgan for a citi saying it. is brutal. . there's a big repercussions when it comes to financial conditions contracting. caroline: more broadly, what that means for risk sentiments? ed: how difficult is it for your founders to show out and ask for money? how typical physically you convince others to write text russian mark -- how difficult is it -- how difficult is it for you to convince others to write checks? kamran: i spoke to a founder this morning. in is not like we are at a standstill -- i

put puts in your portfolio. charles: what you've seen, still has to hear what jay powell has to say, he will be in the hot seat, are you thinking about any adjustments or stay the course what you have already? >> very close to adding significant duration to my portfolio. think about a scenario we could be. say we go too far they fall into recession, where do you want to be? long bonds. plot comes down, suggest cutting rate there after? long duration. extend duration in portfolio. paying big dividend and win on price appreciation and yield. charles: bond market is really the play. >> that is the option. charles: phil, thank you very much. talk to you soon. meantime folks, crossmark global invests chief market strategist victoria fernandez. let me start with this. bank of america multisentiment report, go around the world, talk to all the big time money managers, they manage a trillion bucks. what caught my eye, new risk, new concern, systemic credit event. before a month ago, inflation, everyone had most concern

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

will not inspect every nook and cranny of the portfolio.eir money out and they will wire it to j.p. morgan or the padres. then the company only has a handful of viable banks. it is not in the interest of any one bank. that is crazy. that is what they do in europe. we want a vibrant banking environment with hundreds of suppliers that are tailored to certain areas. that is more important. all these foreign banks, the government has not given us the explicit guarantee that the money is safe. they just give us a semi promise. if you care about competition or over saturation, they need to set out that deposit guarantee. nobody will ever get all of the money at j.p. morgan. that is not true. that is not what we want. the financial sector is way too overcomplicated. we need to make that worse. >>> welcome to last call: forest up tonight, fears around banks taking a scary global turn. we have you covered on all angles. let's get you caught up on the banking crisis and what you need

the economy has been established as a portfolio on its own.ill also take on finance. i am reading this as we go. we havejust take on finance. i am reading this as we go. we have just been take on finance. i am reading this as we go. we havejust been handed this. she will take on finance which was the portfolio of kate forbes so she will also take on the scottish budget. still no one coming out of the door. michael matheson is the cabinet secretary for nhs recovery, health and social care. that was a vacant brief because humza yousaf had the health brief, a difficult brief coming out of the covid crisis and the nhs having suffered a very hard winter with waiting times a difficult thing to crack, so that will be given to michael matheson. jenny gunn ruth was transport and she is going to be the cabinet secretary for education. bit of a change there. the rural affairs brief that kate forbes had been offered and turned down, marie gu john remains there. angus robertson... we now have humza yousaf coming out of bute house with shona robinson, the d

last year but something beneficial to your portfolio today.n salad and garbage is timing. right now you have salad with a lot of dressing on it and it is working. jeff, what do you expect for the next fed move. we have 40 seconds left to be able to talk about this. fed funds futures are indicating chance of 25 basis-point hike for the may meeting is dropping? >> yeah. i think it is practically off the table. we'll see some more inflation data. we'll get jobs reports as well between now and then that will really likely dictate the pace but at this stage we believe the fed is done with their hiking campaign. again, with some of the jitters out there in the market i'm not convinced they need to cut in the near term but i think the pause is most likely at this point. liz: okay. >> the reason the fed did hike was the market was pricing that. and again you can see how nervous market is with pricing. the fact they're removing that from the table it is time to move on. liz: jeff, we love this thank you for opening window into all things treasurys and