Some pessimism over in europe. The bond rally echoing what we saw yesterday in europe. Yields down by about four basis points. Bank earnings are kicking off this morning. Beats onp reporting everything except equities and trading. Sonali they did not be dont Equities Trading, but they did beat on fixed income, so that is good. They want to be the number one Equities Trading shop, so not beating there is not a great sign. Average loan growth a little sluggish. Jamie dimon put some notes of caution in the initial statement, saying that Consumer Sentiment might be strong, but generally a lot of weakening sentiment here. In the initial statement, they dont give the outlook for Net Interest Income. However, if they revise downward once again, they already revised downward last quarter, that could be a big deal as well. Alix Net Interest Income is 14. 23 billion this last quarter. Walk us through what we did now. Billion . Ed it to 57 to 57. 5he revised it they revised it from 57. 5 billion
That is hurting profits. David they were downing trading but they were expecting to be down in trading. Its all about net Interest Income. It sort of like wells fargo yesterday. More nettually Interest Income than last year that it was below what is expected so they are getting punched a little bit. David we will keep our ought alix we will keep our eyes out especially in that conference call. We are in a tight trading range. The tightest weve been in since nine days over the last week and a half or so. Eurodollar pretty much flat. In the 10of Movement Year as well. Crude up by 8 10 of 1 . I felt like a left and came back and everything was the same. Pretty much steady as she goes. David things will really happen now. Eddie 30 we will get used u. S. Housing starts at 8 30 we will get u. S. Housing starts. Facebook has it second day in congress on his liber proposal before the House Financial Services committee. At 12 30 we will hear from Esther George on the Economic Outlook. After the
04 . The trade the stock of the day the morning, the week is bitcoin. Bitcoin futures trading there. What are we at . 17,000. Friday we were at 10,000. David that was huge. Now time for the morning brief. A big week is ahead of us. Today nafta talks begin in washington and later this week we have three Key Central Bank decisions, the fed and e. C. B. And bank of england. Russian president Vladimir Putin will hold an annual presser and an e. U. Summit following the brexit breakthrough. There was a brexit breakthrough when you were away. Alix were hearing the rollbacks, is the deal binding, is it not . Is it legal . We have opinions on that. And bidding overed the weekend were worried about a labor party and snap election. Dave the labor party is taking over, jeremy corbyn. He said if they do take over theyll move the bank of england to birmingham. Alix that makes accepts. David that will be different, for sure. Alix to bloomberg first news word, heres emma chandra. Emma russian presiden
Brief. At 1 00 eastern time, we will see hear from randal quarles. At midnight tonight, the u. S. Government will shut down unless of the house and senate can, up with a lastminute compromise. Now, lets find out what is going on outside the business world. Time is running out for a partialo avert shutdown of the u. S. Government pay the house passed a measure that would keep the government open past tonight while Lawmakers Debate a longterm spending measure. Senate say they have the votes to block the bill. They want to include productions for young undocumented immigrants. According to people familiar with the matter, the fed wants to relax part of the post crisis demand to drastically increase capital levels. The fed is said to be opposed by the fdic, which has authority over banking rules. The European Central bank seems to be getting closer to signaling an end to quantitative easing. Almost half of those surveyed believe there will be a definite end date by june. That is a sign tha
Are positive, up. It is a Dollar Strength story in the session. The euro is on cti. The headline number is largely in line. Treasuries are unchanged on a 10 year yield. Crude is softer. We did trade norse of 50 a barrel earlier in the session. Alix it was 52. M a monday, Discovery Communications is buying Scripps Network for 14 billion. It is up 1 . It is 90 a share in cash. This comes on the heels of discovery saying net income was down 8 in the second quarter. Its all about the unification of these companies as they compete for ad dollars. Versus Congress President trump. The president said on twitter dont give up republican senators, the world is watching. Repeal and replace and get to 51 votes. This comes after he threatened to remove government subsidies. Meanwhile, you get a joint statement from the house. They emphasized the importance of tax reform. They said we are united that the most important action we can take to grow our economy and help the middle class is to fix the roa