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"A muggy but busy earnings week starts off with a bank in New York today Citigroup reports a 42%. Rise in its second quarter profit over last year this of course follows. Friday's pretty favorable results from JPMorgan and Wells Fargo. Anthony happy days here again clouds on the horizon what's the appropriate cliche do. Well we can run the problem is all of them by the city and an old getting good earnings despite the interest rate missive that we sewed the toes in the pools that. -- what about what happens next global slowdown was go and emerging markets. Is that something else hiring and training and Moscow and regulations that. The list together and luckily set quota for these Pakistani cities bidding was. Was pretty -- an economic down three point nine billion dollars up the stripping out an accounting gains and -- you on the best -- they've had been in years that I went wild west you're you're still saying. That they're all -- basically making her 10% return on equity. Which means that they just. Barely basically yes but actually it's there it's just don't talk much capital so one could argue if you look at that common equity. They -- and it -- yet potential -- -- is it is that you want to use them -- they suggest by its trading at. Book value at which is kind of like saying you're not destroying. The asked the value of the yes that you have you know by spending enough to -- -- -- capital. And we think the value of your assistant coach that pretty much -- welcome back to mediocrity that's a good thing in the case and if I accidentally -- -- -- -- -- to get -- -- the high point -- -- -- area and it really excellent service outside. I was things -- be pretty proud of his having -- -- trading you know half two years ago. So there's also women can -- Not to they go to apiece from some of the county elections the Central Bank in Europe was Luke was -- into the market obviously there's none of that and we'll let down last chased down nine movement is it enough is enough. And it's up its -- up from last year and established now the first quarter as is it emerging markets is Natalie -- -- relative peace summit that's the issue I think we go chapel and -- growing -- at a much markets but the truth is it's shrinking somewhat similar to say about Corbett about a strategy anything that he's doing I -- is obviously well -- Citigroup and our analysts like a Titanic you know sort of giant cruise ship whatever and it's cruising along and -- you know I still think what we're seeing here are the results of many years have recent positioning Citigroup and this sort of less turbulent waters under Vikram Pandit needed and that you can't argue before him that ship is now kind of -- in the right direction. Yours you wiggling down some of the problem assets in the Citi holdings business what does that now 130 it's now it's just 10% of -- of -- front of thirty billion. Then in the C holdings only lost only six just on the -- they have really mean that they're just to the emerging markets point even though emerging market. Growth may be slowing right it's great the growth rate is still higher than it is in the United States today. -- and so it. They are well positioned to grab the capital flows from to and from those markets in -- -- other outlets and I guess that that that does of course seem that there are problems during an Asian markets where that's. Schultz Hamlet tries Brazil when it makes -- -- -- on the coolest points and watching them DeWitt with seeing some -- -- quick seasoning of Latin -- are losing big moment though when remains. Story that you expect -- to the next. They really -- have to leave it there for now plenty more coming up this week. Stay tuned tomorrow for more breaking news."^^<http://www.w3.org/2001/XMLSchema#string>
<http://www.reuters.com/video/2013/07/15/reuters-tv-breakingviews-citi-sniffs-success?videoId=244236509&videoChannel=117766>