wilfred frost joins us from cnbc headquaters. fomc minutes will be front and center for you guys too. >> they certainly will. good morning to you. it's not all brand new. it's show number four now. certainly still the first week and we're loving it over here. just missing you guys. as you said it the fed minutes will be important today but they weren't that surprising yesterday. yesterday comments there said some of the members were a close call but we knew it was a close call. otherwise they would have hiked already. the real news was from mr. fisher pointing to the fact that the expectations are too low. i do think that's pretty interesting because why hasn't the u.s. dollar in the face of that and in the face of the global uncertainty reacted more this week? . quite a lot of strong dollar expectations are priced in and it hasn't acted as the world's safe haven this week. the yen, the currency of choice for that and the yen is up some 4% against a lot of asian currencies this week putting a lot of pressure on the region there a

wilfred joins us from cnbc headquaters. more banks. >> absolutely right. very good morning to you. and i think at that point you just mentioned that's the key focus as we continue through the banks earnings season. are we going to get any more write downs on commodity exposure? jp morgan results last week which were good and got lost in the late sell off and will have one write down on the commodity part of the business. will that continue is something to continue to watch and of course at the moment so far we're not seeing too much contagion outside of the energy and commodity sectors but we need to keep an eye on it and the banks are one place where we can do that. second to watch is that debate between the retail part of the business and the investment bank part of the business. focus should have been on the retail bank given that we got the first rate hike only a month ago but have given the market turmoil, everyone is focused on the investment bank. fixed interest has been soft. bank of america has already worn down on its fixed interest business in december. but not expecting

wilfred joins us from the cnbc headquaters. we had a guest on yesterday saying the bigger banks state side are looking weaker compared to the regional banks. >> that's a trend to continue to watch out for but most tend to be more retail heavy so i don't think it's just the absolute size. it's the type of banking they're exposed to and just touching on those jp morgan earnings, better than expected. also relatively upbeat commentary on the current market conditions. he seemed some what unupset by recent volatility. he did have potential commodity losses and that got focus. today the focus moves on to the likes of wells fargo and citigroup and that difference in the make up of the banks will be clear there and with that rate hike it will be interesting to see what their commentary is from the year ahead and what they expect from the fed and how that will impact the financial markets. another is black rock. those results come out at about 5:45 a.m. eastern. so toward tend of worldwide exchange we'll break those numbers and then fo