Bloomberg Daybreak: Europe Edition Daybreak Weekend: US Bank Earnings, New Energy Summit, Gold’s Future
Oct 10, 2025
Ken Griffin, CEO of Citadel and a key player on Wall Street, shares his insights on gold's recent surge and the potential for de-dollarization. He discusses how this rally may reflect investor hedging amid inflation and fiscal challenges. Griffin also critiques U.S. fiscal policies, emphasizing the urgent need for reform and advocating for deregulation to maintain growth. He highlights the risks surrounding a government shutdown and the impact of fiscal dysfunction on the market.
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Broad Strength In Big Bank Revenues
- Strong markets and record capital markets revenue should boost big banks' trading and overall profits this quarter.
- Analysts expect upside versus conservative estimates, especially for Goldman Sachs and Morgan Stanley in trading.
Trading Gains Are Broad-Based
- Prime brokerage inflows and record equity trading volumes are lifting banks' equities businesses.
- Fixed-income strength in rates and spread trading further supports broad-based bank performance.
Monitor Consumer And Credit Commentary
- Watch bank commentary on consumer resilience and credit-card trends for signs of credit quality shifts.
- Expect only modest reserve building rather than large changes to economic assumptions.