. >> joumanna also caught up with tobias adrian and asked him about the impact of the higher interest rates on the banking sector. >> in the banks we have seen some of the stress it was badly managed, had risks on the asset side and the liability side of the balance sheet, and when inflation surprised to the upside, those risks were triggered, and, you know, the bank imploded very quickly. you know, other banks have these exposures, but most of them to a lesser degree. the good thing is that capital and liquidity is much higher today than it was in the 2008 crisis, and we have not seen a sharp rise in credit risk at the moment but we also worry about the known bank financial sector, so the ldi is one example. in the other aspect we saw that there could be other stresses in the financial segment as well. >> elevated stresses right now potentially. the big question that market participants are asking is whether these episodes that we saw in the u.s., obviously in switzerland as well has been a focus in europe are idiosyncratic events or systemic events i looked at a couple of charts you

jonathan: coming up, tobias adrian. tom: we did go to the university of godot.ing you up-to-date with nusra around the world with the first word. fed officials feel they need to do a little more to tame inflation and are leaning toward another interest rate hike next month. that's according to minutes from the march meeting. this despite forecast from fed staff advisers that there will be a mild recession later this year. another missile launch from north korea, a suspected intercontinental ballistic missile was fired toward waters of japan's northern island. that prompted a brief morning from residents to take shelter. south korea says it's possible north korea may have tested a new type of solid fuel missile. there is a report on the alleged leaker of those u.s. intelligence secrets. according to the washington post, it's a young gun enthusiast who worked in a military base and share the classified documents with the group on discord. he was known as og Ñ group he spent some time inside a secure facility and they say he's cooperating with authorities. there is

jonathan: janet yellen contradicted of by tobias adrian, imf director of monetary and capital marketsank meetings this week. imf with a gloomy outlook and pushback coming from elsewhere whether chancellor hunt speaking earlier this week or from secretary yellen herself suggesting things are not that bad. the economy is doing well and the evidence we see of contracting credit based on data we saw friday, she's not going to acknowledge it. tom: it is always there. there's multiple wise to that but the political tensions here are different than any other meeting i have been to. jonathan: politics and we can leave it at that. tom: politics but it is the geopolitical tensions that are out there. jonathan: 10 minutes away from citigroup earnings. equities still negative on s&p 500 by .1%. if we check out big banks briefly. if you are tuning in, welcome. you misted. j.p. morgan up 6% in the premarket. it is a beat on the first quarter. it is a raise on the outlook. not so difficult for the major players. tom: it is going to be interesting to say the least. right now, delicate discussion. thi