the restoration of the noir not sonali gallery is set to be completed by twenty twenty. work on the line up to nigel and he will still take a while in the meantime you can visit another creation by nice fundable in the whole engine house district and nine hundred thirty three country houses built for the owner of a print shop. in your view what makes this house so special. this is well i don't know about you but most people tend to feel ease here with the large windows create a feeling of a vast open space of freedom and openness by. often the inside is flooded with light it has beautiful proportions all of this creates a distinct feeling. that's why i ask you how you felt earlier when visitors come they tend to just feel good i mean this was a master at creating well proportioned spaces. better what is the house used for today i see some pictures on the wall is it a gallery space. yes it's mainly used to exhibit modern art buildings like this by muse funder or are grand and create spaces where so much can happen here it can be transformed with each exhibition. the whole

our -- sonali bostick on our banking and investment team. what is the outlook for the major banks the rest of the year even that rates are so low, even though we did see that bounce a little bit? guest: i tend to think it is a little bit dicey. they've got the yield curve working against them. they've already got all the contrarians saying you should buy the banks. they are not a hated group anymore. and yet, they have been persistently underperforming for the last several months. i don't expect them to be a disaster, but i do think that for them to keep moving forward, we need a change in the environment. either trading is going to have to pick up -- the ipo calendar lyft islp -- but casting a pall over that with their performance. vonnie: where is the correct place for the 10 year yield right now? we talked to .57 earlier. we are five or six basis points earlier than last week. where should we be? guest: it all depends on your belief in how manipulated the market is because of central bank buying. there's a lot of people that think it shou

sonali: not much at all. what we have known is that the banks have exited a lot of the business lines. the beginning, we are not a hedge fund. that was something that banks wanted to be, a ton of different business lines, but what has not been addressed is that the banks are getting bigger. j.p. morgan is opening more branches and as they grow, how are they growing to balance growth as well as risk that we might see in the next year or so coming out of the economy? what is more than that and not going to be addressed at all is how much risk has shifted outside of the banks into non-banks. vonnie: kevin cirilli, many lawmakers on the committee are receiving money from banks. will that her at all how they question the bankers? kevin: that is a good point. several of the prominent democratic members on this committee, their constituents, especially the new york delegation are aware that banks are located. fascinating dynamic that emerged where you have democrats going after the big banks when they are also the m

the noir not sonali gallery was designed at least fundable was architecture firm in chicago the former bauhaus director had emigrated to the united states in one nine hundred thirty eight but fond of always plans were originally drawn up for an entirely different project. for cool off you designed a building for the record company in cuba and a glass hallway in the basement for the administration because they never followed through with the plans because the cuban revolution happened occurred he had to leave the oil. and that's all this because he couldn't construct that the plan was basically shelved quantities then found the road got the berlin commission and adopted the plans to the new project after had it in of a model for in that. construction began soon after in one thousand nine hundred five. by now an old man traveled from the united states to berlin to celebrate the laying of the first stone the project was close to his heart. through. i dedicate this to the lights of the people the goods and services of the arts and the mines. installing the gigantic one thousand two hundred

sonali: people were really leaving stock markets, leaving public equities.hat say about where they feel we are in this cycle? optimistic about where equity markets are going to end up, but we are seeing a shift out of public markets, public equity markets, into private equity markets. they are keeping the exposure, just changing the shape of it. guy: why are u.s. insurers behind on esg? [laughter] mike: that is a very good question. in our survey, we found the insurers really tak pay quite a bit of attention to esg. it is part of the investment. it is increasingly becoming part of the regulatory process. i think u.s. insurers are just a step behind, but we see that trend increasing. i think if you look at the annual reports of the public companies, increasingly you see esg and social matters being mentioned in the annual reports. that is being transitioned down to their policies. guy: i am curious as to how the regulators are impacting insurers in the states and here in europe, whether european insurers are going to have to run faster because of that revelat

sonali: these are corporations.ny that you mention this, because one of the things that michael corbat set right out of the gate is what his bank does is allow these multi- corporations to bank across the world, for, procter & gamble, and at the end of the day, these are public companies that are private. vonnie: exactly. kevin cirilli, did we get a sense from any of the lawmakers that there is legislation or call for legislation or anything in the offering that might legally and legislatively address some of their concerns? kevin: from the top lines you know, to be quite frank, there is no major piece of legislation akin to dodd-frank, for example, or even a major walked back from the top line. weeds,dive back into the they are trying to get a common standard across the board, more on the same page and more parallel to each other. that could come up. there are strange political bedfellows working on issues like that. but i think you already heard from chairwoman maxine waters that this ise out "a new day," and this

sonali: the issue is trajectory.ng across the u.s., on the other hand you have wells fargo. meanwhile they have said their net interest income will be lower this year. you bank on different trajectories and how do you compete with that? more than a dozen ongoing investigation, issues with the trajectory of the firm and then this annual meeting. what will we hear from whom about what the injector he might be? sonali: if we do not hear about strategy and the new ceo, we may hear a lot of protests. that is something we've seen before, something we have seen a jpmorgan before. we have seen the tone on wall street fluctuate between hostility and happiness about the profitability of the banks. last year at morgan stanley's meeting somebody called james gorman the lebron james of wall street. we may not see that at wells fargo, but we may see questions about gun industry financing and the pay gap. there a lot of societal and environmental issues shareholders and activists are worried about. vonnie: how are those meetings di

sonali: there is an everyone else's. have j.p.ross america. the question is at the end of the day, who will win? there is a lot of competition. analystseasy is it for to protect what is going on in these institutions? it was only a few weeks the banks were out and telling us this will be a tough quarter. they turned it around. how tough is it to predict what is going on? volatility remains low but it seems as if things could turn on a dime. is, i: also, the reality have not seen bank of america's numbers on debt underwriting but it has been mixed across the board, and people are not borrowing. if loans are not growing at a healthy pace, there will be concerns about how much transactional activity will continue among corporate's and consumers. tom: joining us now, we are thrilled to bring you gerard cassidy of rbc capital markets. he has been following the banking valet for years and particularly, this too big to fail bank. how do the regional banks compete with the technology , the the tech -- lift technology investment already se

you understand this is buddhist with minority hindu, muslim, and christian, and it goes back to the sonalisto 1948, then independence. who is this majority buddhist population that creates immense tensions with these three minorities? been saying,e have in sri lanka, almost every religious group, at one point or another, has targeted one of the other groups. what happened here -- and when this first happened, easter sunday, people were speculating that it may have been a buddhist extremist group. there was some talk of the in tamilbeing neighborhoods and some speculation over where there -- whether there was anti-foreign antagonism in terms of targeting the hotels. obviously, the government has come out about an hour ago and blamed a little-known islamic group entry longer. it is kind of a surprise. i do not think anyone thought the islamic groups, which are smaller and have not been known for these widespread attacks, for them to come out with an attack of this sophistication and coordination. it caught a lot of analysts by surprise. am: is this a continuation of civil war after a decade o