Bloomberg Daybreak: US Edition Daybreak Weekend: US Bank Earnings, New Energy Summit, Gold’s Future
Oct 10, 2025
Ken Griffin, Founder and CEO of Citadel, shares insights on gold's surge as a safe haven amid dollar weakness. He discusses the implications of U.S. fiscal policy and urges for reforms to address soaring deficits. Herman Chan, a regional bank analyst at Bloomberg Intelligence, previews upcoming bank earnings and potential consolidation trends within the banking sector. Together, they navigate the complex dynamics affecting finance and energy, touching on the challenges banks face and the growing relevance of gold in today’s economy.
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Trading Drives Big-Bank Outperformance
- Strong capital markets and trading momentum could drive record bank revenues this year.
- Allison Williams expects upside versus conservative analyst estimates for trading and 2025-26 earnings.
Prime Brokerage Fuels Equities Trading
- Equity prime brokerage and record exchange volumes are lifting broker-dealers' trading revenues.
- Strength should be broad-based across equities and fixed income, helping most large banks.
Anticipate Modest Credit Normalization
- Expect modest reserve builds as credit normalizes rather than sharp deterioration.
- Watch commercial loan growth pickup as a healthier sign versus heavy reliance on credit cards.