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Chairman of the Federal ReserveJerome Powell is right now explaining why his committee has left near zero rates untouched. Our fed panel is monitoring every single word of what he sees and says as far as stresses on the economic system. Speaking of stress, tensions are still running high from arizona to pennsylvania. This video just in as crowds form in two states, where the administration is launching vigorous challenges. All right, heres the current electoral picture vote. Weve got four states, the key to the presidency. Nevada, pennsylvania, georgia and north carolina. They are still up for grabs on the path to 270. Biden leading 264 to President Trumps 214. Weve got new numbers in nevada showing that joe bidens lead has expanded to 12,000 as team trump seeks legal action there. But keep your eye on the dow and on t ....
Part to some financials like capital one, comerica, synchrony, discover, and wells its self up 7. 5 all session. Up sevenfargo itself point 5 all session. After the initial jobless claims data, a little move in treasuries, now at 61 basis points. Stimulus stems the effect of the covid19 crime is might be infamous, according to mike mayo. He writes in the shortterm, that the potential for wave after wave of support for the economy and unemployed workers. That plus an outlook on banks, which he says show a [inaudible] right now. Lets welcome mike mayo, wells fargo senior analyst. You talk about contradictions in banking right now, one of them being the present versus the past. What do you mean by that . , banks are treated as if it is 2008 in the middle of the Global Financial crisis. Night and day difference for the banks. We do see a contradiction. Today, banks have double the. Mount of equity over 50 more liquidity. They have g ....
As the largest u. S. Banks report earnings, they are revealing a less credit worthy american consumer. How big a concern is that . We start with the big issue. Markets continue to shrug off risk. It is it really surprising when you look at all the events that have gone on the. The markets do not react to it like they used to. I am nervous. Areeems like when investors nervous, they are prone to being spooked. Are keeping the paddle too much on the gas. We are sucking out of the volatility in a way i do not think is conducive to growth. Do not see ane, i overwhelming bubble, i just think there is a risk of the markets are not taking into account. Lisa a lot of angst, not a lot of action. Is and its got kimball, Portfolio Manager at bmo tch. I want to start with the ecb. I am struck by the fact that the bond market rallied. People bottom bonds. Bought ons. The consensus last night was the ecb would finish tapering around the secon ....