Wall Street Unplug looks beyond the regular headlines,

heard on mainstream financial media,

to bring you unscripted interviews and breaking commentary

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As a good out there, it's October 15th.

And I'm Frank Cruz.

It's the Washington for back.

I'm Frank Cruz. I'm Frank Cruz. I'm going to watch one off a back. I'm going to headlines.

And... Tell you what's really moving these markets. Mr. Kreech, how you doing today? Mr. Kreech, what's happening to Frank? I don't like that. Good to see you, sir. Creach is always happy when his parents are in town, hanging out. I do have family in town, yes, sir.

And boy, they timed it.

Mother Nature can be schizophrenic. But it is gorgeous here. I mean, when people think of Florida, this is what they think of right now. It's been like 7580, low humidity. It's awesome. So very grateful they're enjoying life and having fun. So that's awesome. Yeah, the snowboard is definitely come down. Right now, it's, yeah, it's like 70s and stuff. It's beautiful. But I tell you, last week, it was in the 90s, man. It was really freaking out here, which is crazy. But it is nice, which means Daniel's going to be in a good mood and proper behavior today. That's right. Right. So no extra special. no cursing or anything, so make sure.

So, listen, markets ramp and higher today, mostly because we just seen unbelievable results out of the banks.

And I guess people kind of expected it and said, well, you know, investment banking revenue

is good.

You're seeing the market good, right?

So you're getting more deals on investment banking. We still have rates which are kind of high. Banks make a lot of money with their net interest income between the money they lend out, right, and what the interest rate is. And they were not generating those big fees on that part of their debate. When rates were low or rates were super low. And now they have been.

And we were supposed to cut rates remember for how many, I won't even say months. Now it's years, right? For a year and a half, we're going to cut, we're going to cut. We're going to cut. We're going to cut. We have what, one cut, 25 base points in 2025 so far, one of the only countries, right? that will now we officially cut, but it took us 10 months with every single country across the board outside of like three crazy countries, but have been cutting, right? I've been cutting drastically. So, you know, I guess people anticipated that the results would be good and let's get the commentary and let's see the credit quality behind it. Daniel, these results blew out the expectations of almost every single on us and everybody across the board. I don't know if you've seen the details in the middle of it, but it's actually been incredible when you look at the six majors. So, look at the six major, you're looking at Goldman Sachs, Morgan, Staling, J.P. Morgan, Wells Fargo, Bank of America, City Group. Those are the main ones. And man, those numbers are good, right? Yeah, absolutely. I mean, to your point, it's one thing to have high expectations and you want to go into it and you want to see because the markets can price things in ahead of time.

So, Frank, I think you're exactly right. I don't know anybody that was really bearish on the banks going into this earnings report.

That being said, it is great

to see very strong results on, I don't want to say the bar was very elevated, but it certainly wasn't

low. I mean, if you're not showing billions in profit and darn near records, everybody's going to

kind of be scratching their heads, because to your point, it should be a Goldilocks environment.

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