Jamie Dimon

Schwarzman, Dimon, Fink Will Advise Trump How To Create Jobs

Donald Trump today announced that he is establishing the President’s Strategic and Policy Forum. The Forum will be called upon to meet with the President "frequently to share their specific experience and knowledge as the President implements his plan to bring back jobs and Make America Great Again. The Forum will be chaired by Stephen Schwarzman, Chairman, CEO, and Co-Founder of Blackstone." Its members also include Jamie Dimon and Larry Fink.

Carl Icahn Says Stock Rally May Be Overdone, Calls Trump A "Consensus Builder"

Having turned decidedly bullish in the immediate aftermath of the Trump victory, his supporter Carl Icahn said the strong rally in U.S. stocks since last Wednesday's "shocking" event might be overdone, however he added that investors can expect the president-elect to be a consensus builder who can help fix Washington and improve the economy. "When it runs up like this, I scale off a little bit," Icahn said adding "that doesn’t mean that I am that negative or positive."

BOJ "Fires Warning At Bond Market" Sending Global Yields, Dollar Lower; All Eyes On Yellen

Global bond yields and the dollar both weakened after the Bank of Japan offered to buy an unlimited amount of debt at fixed yields, stabilizing the global bond rout, while investors awaited testimony from Fed Chair Janet Yellen that will help shape the outlook for interest rates ahead of a December rate hike that is now seen as near certain.

Frontrunning: November 11

  • Conquering Trump comes to DC (The Hill)
  • Trump’s Data Team Saw a Different America—and They Were Right (BBG)
  • Trump victory prompts U.S. fund managers to focus on inflation (Reuters)
  • Dollar’s Trump-Inspired Surge Sets Off Intervention Across Asia (BBG)
  • Trump Camp Works to Form Cabine (WSJ)

Waking Up In Hillary Clinton's America

With less than two weeks to go before E-day -- despite the Trumptilian upheaval of the last year -- the high probability of a Clinton win means the establishment remains intact. When we awaken on November 9th, it will undoubtedly be dawn in Hillary Clinton’s America and that potentially means four years of an economic dystopia that will (as would Donald Trump’s version of the same) leave many Americans rightfully anxious about their economic futures.

5 Urgent Warnings From Big Banks That The "Economy Has Gone Suicidal"

The economy has gone suicidal. It is working against the very people who need its energy to survive. It is collapsing on its own weight, and the weight of literally incalculable levels of toxic debt. And it is going to create the greatest disaster of our time, if the warnings from the world’s most powerful bankers are any indication.

JPM Profit Slides 8% But Beats Estimates On 48% Surge In Fixed Income Revenue

JPM's Q1 trading woes seemed like a distant memory when the bank released its Q3 results some 8 minutes early, and reported a solid beat in both the top and bottom line, with $25.5 billion in non-GAAP revenue ($24.7 billion on an actual basis), well above the $23.93BN expected, and 8% higher than a year ago, resulting in $6.3 billion in net income ($500MM lower than a year ago), and $1.58 in reported EPS, a solid beat to the $1.39 consensus estimate, if 10 cents below Q3 2015.

Frontrunning: October 10

  • Rancorous Debate Gets Personal (WSJ)
  • In debate, Trump signals aggressive close to his campaign (AP)
  • Trump Ends Nightmare Weekend With Over-the-Top Debate (BBG)
  • Trump vs Clinton: He calls her a devil, she says he abuses women (Reuters)
  • Ryan discussed revoking Trump endorsement (Politico)
  • Trump's body language during debate raises social media eyebrows (Reuters)

"This Cannot End Well" Bill Gross Warns

"Central bankers have fostered a casino like atmosphere where savers/investors are presented with a Hobson's Choice, or perhaps a more damaging Sophie's Choice of participating (or not) in markets previously beyond prior imagination. Investors/savers are now scrappin' like mongrel dogs for tidbits of return at the zero bound. This cannot end well."

Senators Call For Labor Dept Probe Into Wells Fargo As Warren Buffett Vows To Keep Silent Until After Election

That did not take long. Just hours after a CNN report suggested that Wells Fargo was retaliating, and firing, company whistleblowers who had spoken out against the company's illegal "account creation" practices (while blaming them of being "tardy"), moments ago Reuters reported that Senators have asked the Labor Department to investigate Wells Fargo for potential violations of Fair Labor Standards