sonali: one question has been antitrust. you've seen volumes, do you think the caps of deals we see this year have to be small to avoid that kind of scrutiny? mark: they have to be well-planned. the participants understand the rules for antitrust and a detector on your side and you have high-level confidence, you can get a deal done. i think yet i trust regime is stable and participants know they have to do a bunch of the work up front get a deal done. sonali: the question embedded in there was also about size. do you think by the end of 2024 will be defined by the megamerger or something else? mark: probably something else. there are an awful lot of good deals. big deals can still get done. they will face antitrust scrutiny but there have been a couple of cases that have given issuers and the transact or some confidence they can get things done. sonali: one thing you have them working on is the private capital industry on the financing side and private equity deals. if there's any case to be made, do you think private equit

sonali: very complicated.days big take on the bloomberg terminal and bloomberg.com. we're going to talk about new jersey transit riders can expect higher prices. increase a 15%, 3% each year after two and account for inflation. k talk more about the impact this will have on transit riders? >> this is a big change, to riders. going have to start paying higher fares. they rely on transit to get them to where they need to go so starting july 1 when they start hitting the trains and buses, they will have to pay the higher fares. there were a lot of advocates at the meeting against it like we have seen across the country, agencies are still trying to bring the ridership back up. transit had to fair increase of they can help keep service running and to avoid in-service cuts and layoffs. sonali: wouldn't this just make people ride less? >> it is a tricky situation because, i was the come higher fares is not going to make you want to take the train or bus but it is still one of the most efficient ways to get in and ou

sonali: this is "bloomberg markets" and i am sonali basak.afety, testing and inspection company ul solutions going public today under the ticker uls. the company is offering 33 million shares starting at $28. we are waiting for the opening trade. let's bring in president and ceo jennifer scanlon at the new york stock exchange. when you look at the reasoning, you will see the reasoning of why right now is the time to take ul solutions public. people are wondering about the reopening of the ipo market. jennifer: we are excited to be here at the new york stock exchange. we are a 130--year-old company. we have been planning this ipo for a long time. it has not been an ordinary time in the market but we are an extraordinary company. sonali: you also delayed this ipo to this year. i am curious about how you think about the market volatility as you go public. it is a tough take today but you are plowing through. jennifer: we have been around 130 years and hopefully we will be in this market for another 130 years. the market today is not concerning t

this is "real yield," on bloomberg. ♪ sonali: i'm sonali blatt -- i'm sonali basak and this is "bloombergeld." tesla reporting earnings next week with a busy earnings cycle. and of course, a lot of economic pmi data with wednesday durable goods and more tech earnings as we have been talking about. we are rounding out the week with a pce deflator. let's think through what it really means, the number ahead, the preferred gauge of inflation , when it comes to pce, it will be less alarming than the hot cpi print posted previously. there are still hints outside of the fed preferred gauge, creating complication around the idea of rate cuts coming before the big fed meeting for the first week of may. that does it from us in new york. same time, same place, next week. this is "bloomberg real yield." this is bloomberg. ♪ with stock ratings from j.p. morgan analysts in the chase app. when you've got a decision to make... the answer is j.p. morgan wealth management. you're probably not easily persuaded to switch mobile providers for your business. but what if we told you it's possible that comcast b

what's next. ♪ sonali: this is "bloomberg markets" and i'm sonali basak.t's time now for the wall street beat. stock picking hedge funds are back for the first time in two years. and so are multi-strategy managers. so much them are having better times now. schoenfield had the best and in the front world, q.r. fund called double-digit return so far this year. and we're going to get a gauge of the whole industry with alanna weinstein and finds talent in the hedge fund place. really curious about what you're hearing now that we have all the numbers in for the first quarter on what's working. >> let's do a what's hot rick tor scale about that -- richter scale about that. multi-managers continue to be an area of desire and focus, particularly, of course, goes without saying the large established managers like citadel and point 72. those guys are either closed or being extremely deliberate about how they take in capital. so you mentioned schoenfeld, i was pleased to see them leading the pack this year. because the last two years were tough and i think that's the

sonali: sinister.ou said about supply is that artificially keeping spreads at the level they are? if you are supposed to see more issuance would it be as well received if the market were to start adding more? is there a sense from the banks and investors that less is more? will: supply is a tricky element. the market talks about the supply numbers. they seem like big numbers. the net supply we have seen is quite small. the reason why is companies are reducing the amount of leverage on their balance sheet because the cost of debt is much higher. that is what they should be doing. if companies are reducing the amount of debt on the balance sheet, there is less need for net issuance in the marketplace. as we see it, the market itself is shrinking and has been shrinking for some time. as we see more demand creep into the marketplace there is not enough bonds for investors to buy. we do not think that is artificial. especially if you are a believer in the higher for longer argument. companies will continue

sonali: welcome to ""bloomberg markets.",i'm sonali basak. the s&p 500 having the best week of the year. traders reading a sigh of relief from the latest inflation data. the s&p 500 is notching a gain. moving higher. really up, snapping weeks of declines. one of the worst weeks we have seen in a while. the nasdaq 100 up one .6%. the philadelphia semiconductor index up a fair amount. 2.2%. what is interesting is how much green you see on the screen. even with negativity around intel. bitcoin lower about 1.6% into the weekend. looking across assets. the bond market is interesting. the two year yield fluctuating all day. around 498 on the day, it touched almost 5%. muted moves right now. a lot of volatility today. 10 year yield around 466. that hit around 4.70. you're still looking at three to four basis points. the u.s. dollar still on the rise. yen has been weakening drastically. looking at some movers on the equity side. tons of earnings have alphabet soaring past a $2 trillion valuation. after a first quarter revenue that beat expectations w

sonali: welcome to "bloomberg markets." i'm sonali basak. we had some solid u.s. retail sales that spurred bets the fed is in no rush to cut interest rates. we will check on those markets because you are now watching the s&p 500 waiver. a little bit of red. we are essentially flat, but the nasdaq 100 now down 0.2%. we were in the green just about 15 minutes ago, so certainly a change in the markets. the two year yield now down to 4.93 on the day. a lot of volatility in that bond market. about a 4.9 nine handle earlier on the day. the 10 year now at 4.63. we got as high as 4.6 six. really testing the high of the year. again, that really interesting selloff in the bond market data today. may 8 movers on the equity side. talking about apple shipping 50.1 million phones in the first three months of the year. that is according to idc. falling short of estimates and reflecting flagging sales in china, despite a broader smartphone industry rebound. tesla slashing headcount by more than 10% as the carmaker struggles with slowing demand. on top of that, two senior vice pre

♪ 0 sonali: welcome to bloomberg markets. u.s.conomic growth slowed and inflation process sending jitters across markets and once again pushing back the timing of the first rate cut expected out of the fed. let's get a check on the markets because there is a steep drop lower. the s&p 500 lower by more than 1%. the nasdaq is down about one .4% on the day in the dow jones industrial average down about 1.5% on the day in the vix marginally on the rise. let's look at yields and where they are headed. traders are recalibrating their expectations and the two year yield is a touch under the 5% level once again. you are seeing massive volatility in the bond market in a week with a lot of auctions. the 10 year yield is it -- is a sex base at -- basis point -- is a six basis point move higher. gold is on the rise and has been a favorite asset for traders all year long, one half of 1% higher. some midday movers on the equity side we will start with caterpillar reporting quarterly sales lower than a year earlier and the trend is expected in t

i am sonali basak again welcome to bloomberg markets. looking at the s&p lower on the day, leading to perhaps the second week of declines on the s&p 500. the nasdaq 100 also down on the day. still has a chance to end on the green, now down more than .9%. the two year yield breaking below the 4.90% mark. about 4.89%. we have the kbw bank index down 1.3% and almost every stock barring two are down in that index. consumer sentiment data crossing the terminal now. michael mckee joins us to break it down. mike: if you did not like the cpi report you will not like the sentiment report because it shows some on mooring of inflation expectations. the one year ahead inflation expectation jumps to 3.1% from 2.9%. five to 10 year from 3% to 2.8%. enable -- maybe gas prices reflecting that. the sentiment number goes up a little overall -- actually falls, rather, to 77.9, current conditions to 82.5. so in march, we saw consumer sentiment rise little bit and inflation expectations were steady. now there is more concerned perhaps about the economy going

sonali: let's expand on that.d the other motor companies to be catching up for the sake of american competitiveness? david s.: one thing we have seen in the past couple of years is the manufacturing in the united states due to policy interventions and bold moves by the biden administration. i think american competitiveness is key here. i grew up in the great state of michigan. great manufacturing center. it has been for a century a home of the automotive industry. it needs to stay ahead of the curve and is staying ahead of the curve for the vehicles of the future. sonali: david, thank you for your time. columbia university inaugural fellow on the center of global energy policy. david: a treat for me and maybe is a long discussion with ray dalio, legendary investor. he was on wall street week in 1982 and was adamant about what would happen in the wake of the mexican sovereign debt failure. he said it almost drove his company in the bankruptcy. he will talk about what he learned that might apply now. sonali: very mu

sonali basak we sonali: sonali: have not -- we have not forgotten everything.ou have to wonder how much the market is also reacting to a lot of fed speak. susan collins speaking at the economic club of new york. john williams earlier today. how do you put all this together? >> the messages are becoming similar. susan collins just out with her economic club of new york speech. she said we may have fewer cuts this year and we may have cuts later this year. which is pretty much what most of the rest of our colleagues have been saying. similar to what john williams said, phrasing it a different way. saying there is no need to adjust rates in the near term. both of them saying they made a lot of progress. but there is more to be done. williams suggesting they want to see more progress on the labor front, as well. so there's a general agreement among fed officials that maybe we are not going to see this kind of rate move wall street was expecting. which is interesting because today we got an assurance from the european central bank, christine lagarde, that they will

sonali: what about cold, bitcoin? ed: to what extent do you think the valuation of the salicylates as opposed to what you have? of the treasury side, one powerful argument is that inflation has come down from seven changed to 3%. the notion of the fed put his back on the table. now the heat is out of the system in the fed put becomes much more palatable. i think credit is going to perform much better had the wood of inflation rose higher. sonali: give a scenario where you see the fed not cut it all? ed: if we look at today's data, one of the silver linings from and inflation perspective is that wage growth has not accelerated. we are seeing riposte numbers in terms of hiring but wage growth continues to slow down. if wage growth picks up again the fed will really question their framework around inflation. thus where rate hikes come back online thus far from the base case. sonali: how do you feel about this idea of re-accelerating inflation how do you read the data from next week? >> at this point we would be really su

sonali: we thank you so much. coming up, we'll talk about tesla taking hold as elon musk shifts his focus to achieve -- from a cheaper model of the robotaxi. our big take from bloomberg's next. this is bloomberg. ♪ [sfx: wind, rain and rolling thunder] nobody's born with grit. british announcer: rose is really struggling. it's something you build over time. american announcer: that's 21 missed cuts in a row. [car trunk slammed shut] for 88 years, morgan stanley has offered clients determination and forward thinking to create the future... crowd: stop it! ...only you can see. american announcer: rose, back in the winner's circle. [crowd cheers] [music out] ♪ ♪ sonali: this is bloomberg markets. it's time for the stock of the hour. tesla stuck has slid more than 40% after swamping sales, confusing product decisions and more price cuts. for today's big take, ed ludlow and dana hull are looking at the companies consumed by the chaos amid elon musk's shifted focus from a $25,000 tesla model to a robotaxi. let's bring i

sonali: welcome to "bloomberg markets." i'm sonali basak. stocks are on the rise in bonds falling as key inflation data is out tomorrow morning. let's check the markets as we way to absorb those data. you have the s&p 500 study at about 5190 on the date, .2% lower on the day. nasdaq 100 roughly flat. biggest difference in the bond market. call it a relief rally because you saw yields soaring higher yesterday. we are back at 4.73, five-basis point move lower. 10-year yield also five basis points lower ahead of inflation data. let's look under the surface of the market. moderna the biggest gainer in the s&p 500. analysts praising its skin cancer treatment. it cut the likelihood of cancer in half after a recent study. modernity is developing a vaccine for rsv it will unveil next month. we are monitoring shares of royal caribbean, which are tumbling, having its worst day since january. despite record demand for cruises this year, and just last year it hit an all-time high, some of the steam out of the bag here. wall street is awaiting the cpi pr

sonali: this is "bloomberg markets," i'm sonali basak.eight loss drugs forcing companies like walmart to rethink first resales and it is having an unusual impact on users, sparking a debate about -- get pregnant and now take glp-1 drugs like ozempic are getting pregnant and doctors are looking into whether he can fight infertility causes. we had a report on this and our reporter joins us not -- now. it was our number one red storm -- story on the terminal. -- number one read story on the terminal. madison: i was talking to an obesity doctor and he brought up the fact that several of his patients were surprisingly getting pregnant, women who had long struggled with infertility and given up on the having a baby, found themselves pregnant, surprising me. i tucked that into my back pocket at the time. over the last few months, i heard that more and more and it has taken off on social media. there are facebook groups with like 500 plus members of people saying they got pregnant on ozempic. it's interesting, doctors are prescribing it or now no

sonali: fascinating. if we got that, is it because the economy is slowing, or you believe that the lagged factors are taking hold? kristina: i think it's a combination. a combination of factors. the fed freely admits to we are in very restrictive territory given the progress on disinflation. from my perspective, signs that the economy is cooling a bit will only further support the view that it is time to at least start to cut. it could be a very slow process, but the initial cut will be important, psychologically, for markets. sonali: i'm interested in this idea that you could see some signs of cooling in the future and then new edge wealth talks about the idea that perhaps if tesla starts to lower its price point on cars, it would feed through into the new car sales data in cpi. then there is that idea of a ripple effect, what it means for car insurance. how much of an effect does that have it the end of the day? kristina: it has to be different industries doing the same thing, but it's a good sign, righ

sonali: this is bloomberg markets. i'm sonali basak. u.s.olleges from coast-to-coast are looking to address pro-palestinian demonstrations on campuses. at columbia and new york city students have occupied a campus building and barricaded themselves inside. joining us from the university is bloomberg's scarlet fu to talk about the escalated tensions being seen. first, start with what it feels like right now. on campus. scarlet: we aren't on campus because the campus is on lockdown mode. the only people allowed on campus are students that live on campus. for everyone else in the campus is off access including faculty. we are talking about students that live on campus at all essential personnel. it is ok because classes have ended for the semester. everybody is studying for finals that begin friday and take place for about a week. the school is preparing for graduation, scheduled may 15. our producer went to check out the campus and saw a sign that said they are still moving forward with preparations for graduation may 15. now, we are, as you m

sonali: thank you. executive chairman bennett goodman and they just secured three point 3 billion for acquiring stakes in private fund managers. this has been a hot business across all of wall street that you no longer -- you not only have the largest ever first-time fund that exceeded your target by $800 billion. what was it like going out to talk to investors at a time where otherwise fundraising has dried up? >> it is difficult fundraising. we had the advantage of a differentiated product. in our strategy we try to position hunter point to be a strategic partner for growth where we provide not just capital, but other strategic capabilities to help them grow and change the trajectory of the growth curve. sonali: as we watch a lot of these gp stakes businesses start up it begs the question what is the asset manager of the future and kinds of companies you are looking to navigate investments? >> i think it starts off with differentiation. we really need to be looking at firms that are special in what th

♪ sonali: welcome to bloomberg markets.opes for a sustained rally are hinging whether the mag seven can justify lofty valuations. let's get a check on the markets because so far, we are in the green with the s&p 500 and the nasdaq each up well over 1%, roughly at session highs on the day. the s&p up 1.2% on the day and the nasdaq is up about one point 5%. the dow jones industrial average is getting some love here, up about 0.6% and volatility is cooling down on the vix. let's look at yields because we have the two year yield back on the decline, under 4.93. we had the auction -- we have the auction starting about 1:00 p.m. today with a lot hinging on appetite there of yields at this level. the 10 year yield is about 4.57 on the day. the dollar index stalling out after a significant rally this year and gold is on its second day of declines. it's roughly flat on the day but still risk on in these markets. let's take a look at some midday movers on the equity side with lots of earnings. spotify rose 14% year-over-year, $239 mi

sonali: welcome to ""bloomberg markets.",i'm sonali basak. 500 having the best week of the year. traders reading a sigh of relief from the latest inflation data. the s&p 500 is notching a gain. moving higher. really up, snapping weeks of declines. one of the worst weeks we have seen in a while. the nasdaq 100 up one .6%. the

sonali: you saw that move overnight. what currencies are feeling most vulnerable to the dollar and how does that trade expect to play out over the next couple of days? code today we had christine lagarde saying they will move to cut so that puts em in the spotlight so if they were to move in june, that would weigh on the currency and some people keep on discussing parity. i have not heard names saying it is coming tomorrow but that is part of the discussion. as i mentioned, it has been vulnerable for a long time because of the rate differential. another one is close to us in canada to the canadian dollar. they have to support the economy and today's data of inflation pointed to they would have to cut. every central bank, even though dollar is not on the mandate and sometimes currency is not on the mandate but they're paying close attention to the dollar and it is getting close to the risk level when it can be detrimental to the other countries. sonali: earlier this week david kelly at j.p. morgan had a don't -- a note on

sonali: time for the wall street beat. shares are popping is apollo and sony are considering a joint offer. paramount is currently in an exquisite negotiating period with skydance, and it's mostly up to the redstone family that owns less than 10% of paramount but controls 77% of the voting stock. let's discuss this with chris palmeri of bloomberg news. let's talk about the offer to begin with here. how much does that give the apollo team? chris: it definitely gives them a lot more credibility, not that apollo lacks in that but it's interesting to watch apollo. we broke the news they were interested back in january. then things got cold for a while. we heard they were not moving forward. things escalated with david ellison and paramount. then apollo made an offer just for the film studio, which was something the redstones did not want to do, break up the company. i have been told they did not feel there was enough -- it was a solid offer when apollo made an offer for the whole company for $26 billion, including debt. they h

sonali: we have to have you back.lot going on in rent too driving the activity should patrick clark and abigail doolittle. we thank you for that analysis . we're looking at a tough tape in the market. the s&p 500 trying to break into the green up less of 1/10 of 1%. the nasdaq 100 trying to break into the green in the last half-hour. putting much even on the day. yields riding high. 478 on the two-year. incredible ahead of inflation print should a lot of economic data to come. some real moves in the bond market. that does it for bloomberg markets. keep an eye on us through the we have a market hitting on the edge. this is bloomberg. ♪ do you want to close out? should i? normally i'd hold. but... taking the gains is smart here, right? feel more confident with stock ratings from j.p. morgan analysts in the chase app. when you've got a decision to make... the answer is j.p. morgan wealth management. her uncle's unhappy. i'm sensing an underlying issue. it's t-mobile. it started when we tried to get him under a new plan.

sonali: welcome to bloomberg markets. i'm sonali basak. traders are waiting for remarks from jerome powell. he is set to begin and a few minutes and we will bring you the comments live when they begin. the s&p 500's near session highs. it is past 5220 up about .3%. the nasdaq 100 up on the day about .4%. new york route at the highest levels since october last year up about .7% holding above the $85 level and the u.s. dollar index taking a breather for a minute in conjunction with yields. we will look at that ahead of powell. the two-year year -- yield flat on the day about 469. we head for 73 earlier this morning. tremendous volatility. in one week 15 basis point move from peak to trough. more of the bond selloff further down the iteration card with a two basis point move nearly three basis point at the 30 year and a 10 year at 437 other day about two basis points higher. earlier today raphael bostic reiterated expectation for just one rate cut this year. look how dramatically the market has changed since january. when the expectation was

sonali: it is still coming.iciency ratio they came in above where wall street was guiding for. it is at 67%. where they are already trying to keep a handle on costs all over the board, all of these banks have suffered from the weight of that fdic assessment. even jp morgan guided expenses higher in part of that assessment. the story isn't over. regulatory costs may remain somewhat high, but we are getting passed at least that first year now since the bank failures. lisa: i am old enough to remember when it was cost-cutting trying to reduce the expenses was the focus of these banks. bank of america, first quarter compensation expenses. what you make of that? sonali: direction of travel is higher. we've been talking about it with goldman where if you are making more money you have to pay people more. that is the problem, isn't it? so, on balance, that efficiency ratio higher, that flurry of ideas with compensation being higher, regulatory charges being higher, so keeping a handle on costs. net interest income came

sonali: exactly.eet, jp morgan's risk has been raised higher than last year which means they are having to work harder to the risk appetite back into markets. they go line by line, as you would expect. lisa: which raises the question of how much the kkr's and oak trees are starting to eat -- away at their ability to take it easy. we have wells fargo coming up in less than an hour. ken leon joins us now. what is your big takeaway so far? ken: the first quarter since the base for growth for the rest of this year. i think the narrative is to be "conservative." we have a different economic backdrop for growth. we saw very healthy loan activity that will accelerate for the rest of the year not only for the consumer good for business. are the banks going to compete with the apollo's of the world? it's a healthy fixed income underwriting and we saw off-the-shelf dusting bank loan syndicates and giving aggressive pricing so the direct venting from the apollos and aries is bought off. the opportunity here is a

ed: let's bring in sonali basak. america is what is moving in the market and his thoughts on the ai story put it better than i ever could, to summarize what is happening this tuesday morning. sonali: when you thing about bank of america, it is their propensity to bring in new clients and keep a handle on costs. one thing being asked of the ceo was if further investment in digital ideation -- digitization of the bank would help bring efficiency ratios down below 60%, and you had brian moynihan say they were pushing to get that done. some interesting statistics. when you thick about how quickly our -- how quickly things are going digital, this quarter alone, zelle transactions at bank of america past the combined number of check smit -- written plus the amount of cash withdrawals. that is how fast money is moving online. the faster they can get this done, they believe they can create cost savings for themselves and their customers. that is one side of things, how the banks are using digitization to drive efficiency. th

sonali: and the ones not lost have to be retrained.n addition to the jobs, the investment being made is also very interesting. they invested about $2 billion to build new data centers, and he sees this movement to the cloud as inextricably linked to the ai revolution, if you will, and has said this movement towards ai in society at large is as revolutionary as the steam engine or the advent of the internet. so data centers are really interesting for j.p. morgan. about 30% last year of their applications had moved to the cloud. by the end of this year, it will be 70%. that transformation is drastic when you look at a year-over-year change. caroline: we like to focus on the fact jamie dimon has been there saying your kids will only have three and a half workweeks, they will have cancer free because of this ai technology, but he does go into cloud and technology more broadly. sonali: he does. it is splattered throughout the entirety of the letter. interestingly as well, he talks about this year-over-year, but the competitive set not just

sonali: all moving lower that is a bit of a reversal. citigroup beat profit estimates here and we saw an earlier gain. the market is lower on the day but some of the declines that you are seeing are quite stark. jp morgan for example intraday is having its worst day since march of 2023. we know that times are very different. ed, we have jp morgan coming up for six consecutive years of record revenue. the question is, when analysts expected them to raise the bar on net interest income, are they being conservative when they haven't done so, or are we seeing a consumer that is starting to come if not tapped out, starting to slow down a little bit in the way that they're starting to borrow and spend on those credit card businesses in particular? some positive news for anyone watching "bloomberg technology" in particular is that you see an uptick in the underwriting businesses. ipos are back, baby. you're seeing it in the big banks. certainly, you don't see the advisory fees jumping back just as strong yet, but they are pretty optimistic over

sonali: hi, i'm sonali basak, and this is "the next big risk."business of managing risk for the long-term. and in a year where recession fears abound, a war in ukraine rages for a second year, and geopolitical tensions across the globe are boiling under the surface, three wall street veterans look five to 10 years out on where wealth could be destructed even further.

. ♪ sonali: i'm sonali basak, and this is "the next big risk."ancial executive to calculate the unknowns. geopolitical tensions are rising across the globe as conflict engulfs countries in the middle east and europe, and concern builds around taiwan and china. investors are also uncertain about the state of the economy and a divisive presidential election in the u.s. just months

sonali: hi, i'm sonali basak, and this is "the next big risk." is a business of managing risk for the long-term. and in a year where recession fears abound, a war in ukraine

sonali: bit coin fees are soaring we will discuss what is next for the top crypto absent.h in congress and we talk about the importance of the legislation. sonali: a group of ftx investors and customers agreed to drop their claim against co-founder sam bankman-fried and we will tell you why. tim: that's all i had but here is a snapshot of the market. the having

sonali: live from bloomberg had quarters i am sonali basak. tim: i am tim stenovec. to bloomberg crypto. sonali: corn and other tokens on the decline to start the second quarter after a historic run brought on by etf demand. tim: sam bankman-fried's 25 year sentence is potentially just the beginning for others on trial including executives like caroline ellison

for more, we are joined by sonali basak.ive us the rundown because the stock reaction is really telling. >> david solomon now addressing analyst on how sustainable those gains are in the trading, in investment banking. remember, we are just starting to see come back and let's call in durable david because durability is the word he is using to show that businesses that have typically been volatile over the last couple of decades or so can now be more sustained. what is interesting is seeing being asked by analysts on whether this was an average quarter or a peak order. how would you define it? he said it was strong but he has seen goldman have bigger quarters. goldman really punching above its way, leaning in on those financing businesses to bring in more trading business and a very volatile market. when it comes to investment banking we are just in the early innings here of that 2024 rebound. still, advisory fees of more than $1 billion. all these fees have also led to more expenses. he is getting questions about those expen

sonali: hong kong falls in the footsteps of the u.s. debi

sonali: from our viewers in d.c.bloomberg real yield" starts right now. coming

. >> from bloomberg's world headquarters, i'm sonali basak. >> i am tim stenovec.e people, transactions and technology shaping the world. >> 10 days away. we will talk to one of the largest minors in the space area the ceo of marathon digital. tim: a senate hearing is underway with deputy u.s. treasury secretary, discussing efforts to counter illicit finance. we will talk to head of global policy who pushes back against how the industry is depicted on the issue. sonali: we look at the latest on the whereabouts of co-founder though quan, as he has -- is found liable for fraud in a u.s. government lawsuit. tim: all of the and more coming up over the next half-hour. here

. ♪ sonali: welcome to bloomberg markets. i'm sonali basak. for remarks from jerome powell. he is set to begin and a few minutes and we will bring you the comments live when they begin. the s&p 500's near session highs. it is past 5220 up about .3%. the nasdaq 100 up on the day about .4%. new york route at the highest levels since october last year up about .7% holding

sonali: you think about what he says about expectations for first republic.illion dollars of earnings annually would be added and now they think that is closer to $2 billion. on top of that, he draws out his concerns. we always look on friday at what he is going to say about the forward look for the economy and he gives a little of that in the letter. a lot of concerns about persistent inflation and the idea inflation could stay higher for longer. he balances that out and talks about persistent inflation relative to federal spending and worries about geopolitics, but he also talks about economic growth not only in ai but also when you think about how much money economies have to spend for a green economy and this idea that he puts a specific statistic. 70,000 electricians need it, for example. so how much productivity is needed to offset those forces? lisa: is this jamie dimon as treasury secretary or ceo? sonali: this letter has always been the swansong to the world, his way of really weighing in on a lot of issues that impact jp morgan customers but also go

. >> welcome to "bloomberg markets ," i'm sonali basak.ssing outlooks as fed officials say they are in no rush to cut interest rates. let's look at where the markets stand right now. s&p 500 back in the green, broad-based movement upward. most major sectors are in the green, up 4/10 of 1%. the nasdaq 100 seeing a bit of a lift, shaking off jitters in semi conductors, the nasdaq 100 is nonetheless up 3/10 of 1%.

. ♪ 0 sonali: welcome to bloomberg markets. u.s.ess sending jitters across markets and once again pushing back the timing of the first rate cut expected out of the fed. let's get a check on the markets because there is a steep drop lower. the s&p 500 lower by more than 1%. the nasdaq is down about one .4% on the day in the dow jones industrial average down about 1.5% on the day in the vix marginally on the rise. let's look at yields and where they are hea

i am sonali basak.ing off the week on a positive note as retail sales data shows consumer strength and signs that conflict in the middle east remains contained. the s&p 500 and nasdaq each of more than 0.2%, the s&p gaining now 0.3%. the two year yield, stunning moves there, about five basis points higher at

it is like a lot of alix and sonali on bloomberg television. this is the calm before the storm. take a deal -- a look at yields quickly because you are not seeing much movement. a one basis point movement and the 10-year yield is still flat. the s&

avalarahhh ahhh sonali: welcome to "bloomberg markets."ng for direction now as the s&p hits session lows amid a wave of earnings. let's get a check on the markets. the s&p 500 breaking the two day winning streak, down 3/10 of 1%. the nasdaq 100 is also moving into the red territory, though barely. flat on the day, even with exuberance around the magnificent seven. we will talk more about that throughout the hour. two-year yield's, they had their big option yesterday waiting for the five-year yield that was up to .467 on the day, four basis points higher while thetw-

. -- sonali basak. >> it certainly is. certainly that list is also long.ou think about the use for anti-money laundering and also you have investment activities across the bank. you can see jp morgan implementing ways to use ai and thinking about also have to use importantly generated ai. this was the first and a list of specific issues as it pertains to jp morgan in the annual letter. he of course didn't have a list of specific issues that included geopolitics and ration, but certainly with $2 billion spent on data centers for jp morgan as well as further investment when it comes to ai alone, the data centers were continuing to crowd as well. you can see this is certainly an area for investment for jp morgan moving forward after they have hit six consecutive years of record results. >> certainly backing up those words with some investment. that's also talked about his views on the economy. he always gets a lot of air for what he is seeing. 70%-80% chance of a soft landing viewed through the markets. >> one thing that was really interesting is right after

paul: that is the imf deputy director speaking with our colleague sonali basak.f central-bank action and looking forward to more this week. one of the ones we have been watching is the bank of thailand. normally there is a bit of a separation of church and state when it comes to central banks. politicians don't like to meddle, but the thai prime minister is not shy. he is calling for a 25 basis point cut, but it seems to be falling on deaf ears. haidi: saying they should cut by 25 basis points to support the economy his expansion may have slowed below 1% in the first quarter. we have been hearing this pressure since the beginning of the year from the prime minister, since the start of this year, ratcheting up his calls for the b.o.t. to cut levels which are at the highest since 2013. central-bank pretty much snubbing those demands, saying the economy's slow recovery is due to structural problems which they cannot fix with monetary tools. so this back-and-forth continues. but economists ahead of the april 10 decision are split, 17 out of 24 economists we spoke to

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