Banking, Economy

“Fed rate cuts may wait as inflation ticked up in December”

“…U.S. central bankers want more confirmation that inflation is on a firm path toward their 2% goal before they reduce the policy rate, now in the 5.25%-5.5% range…” https://finance.yahoo.com/news/traders-pare-bets-fed-cut-134748735.html What happened? I thought the FED was going to cut interest… Continue Reading…

Banking, Economy

“US Inflation Picks Up, Signaling Bumpy Path for Fed”

“…The figures show the Federal Reserve is facing a bumpy path to tame inflation, which risks staying elevated in coming months should prices of goods, such as clothing and cars, continue to climb. Fed policymakers and Wall Street economists have… Continue Reading…

Banking, Stocks

“Bank Stocks Are Soaring After the Latest Interest Rate News…”

“Last week, the Federal Reserve indicated that it will keep pushing the pause button on interest rate hikes, and that it expects to cut interest rates next year. That’s been cause for celebration on Wall Street, where high interest rates… Continue Reading…

Banking

“Wells Fargo CEO warns of severance costs of nearly $1 billion in fourth quarter as layoffs loom”

“Wells Fargo CEO Charlie Scharf said Tuesday that low staff turnover means the company will likely book a large severance expense in the fourth quarter. “We’re looking at something like $750 million to a little less than a billion dollars of severance in… Continue Reading…

Banking

“US Bank Plans to Issue $2.5 Billion of Auto Credit-Linked Notes”

“…It’s the first time US Bank has sold this type of securitization, according to a preliminary ratings report by Moody’s Investors Service. The notes effectively allow the issuer to transfer credit risk tied to the underlying loans over to investors.… Continue Reading…

Banking, Economy

“Developing nations spent record $443.5 billion on public debt in 2022, World Bank says”

“Developing countries paid a record $443.5 billion in 2022 to service their public debt as global interest rates surged, according to the World Bank… The cost of servicing debt for the world’s 24 poorest nations could surge by as much… Continue Reading…

Banking

“US Bank Plans to Issue $2.5 Billion of Auto Credit-Linked Notes”

“…It’s the first time US Bank has sold this type of securitization, according to a preliminary ratings report by Moody’s Investors Service. The notes effectively allow the issuer to transfer credit risk tied to the underlying loans over to investors.… Continue Reading…

Banking, Business

“China Investors Face Tens of Billions in Losses Over Zhongzhi”

“As China’s embattled shadow banking giant Zhongzhi Enterprise Group Co. faces a criminal probe, lawyers and analysts are assessing the damage to investors. One estimate puts that at about $56 billion… Authorities over the weekend said they’ve opened criminal investigations… Continue Reading…

Banking, Economy

“Turkey Central Bank Hikes Rate by Double the Forecast to 40%”

“…The Monetary Policy Committee raised the benchmark one-week repo rate by 500 basis points to 40%. The expectation was for an increase of 250 basis points and the currency extended gains after the decision… The currency’s down almost 35% against… Continue Reading…

Banking, Economy

“European, US stock markets climb as bets build on rate cuts”

“Wall Street and Europe’s main stock markets mostly climbed Wednesday as traders ramped up bets on the US Federal Reserve cutting interest rates in the new year after a top official sounded an optimistic note on the battle against inflation…”… Continue Reading…