Cart

0

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…

Banking

“Israel’s central bank sells $30 billion in foreign reserves after shekel slides to seven-year low”

“The Bank of Israel on Monday announced it will sell up to $30 billion in foreign reserves in a bid to support its domestic currency which has fallen sharply following the deadly incursion by Hamas militants over the weekend. The Israeli shekel last weakened… Continue Reading…

Banking

“U.S. 10-year yield returns near 16-year high after better-than-expected jobs report”

“U.S. Treasury yields rose Friday, with the 10-year nearing a 16-year high after the latest jobs data came in stronger than economists anticipated. The yield on the 10-year Treasury was up by nearly 13 basis points at 4.839%. It had hit a fresh… Continue Reading…

Banking, Economy

“Fed’s Kashkari: 40% chance of needing ‘meaningfully’ higher rates”

“A “soft landing” for the U.S. economy is more likely than not, Minneapolis Federal Reserve Bank President Neel Kashkari said on Tuesday, but there is also a 40% chance that the Fed will need to raise interest rates “meaningfully” to… Continue Reading…

Banking, Economy

“China Finance Giant’s Missed Payments Alarm Regulators, Markets”

“One of China’s largest private wealth managers has triggered fresh anxiety about the health of the country’s shadow banking industry after missing payments on multiple high-yield investment products. The turmoil at Zhongzhi Enterprise Group Co., a secretive financial conglomerate that… Continue Reading…

Banking

“2 California banks are merging into a new $36 billion bank. It’s the latest in a string of consolidations after a crisis rocked the US banking world in March.”

“Shares of Banc of California and PacWest Bancorp got a major boost from news Tuesday that the two lenders will merge in an all-stock deal to create a new bank. PacWest shares surged 31.3% to $10.10 apiece in after-hours trade after news… Continue Reading…

Banking

“The American banking landscape is on the cusp of a seismic shift. Expect more pain to come”

“…Rising interest rates will deepen losses on securities held by banks and motivate savers to pull cash from accounts, squeezing the main way these companies make money. Losses on commercial real estate and other loans have just begun to register for banks, further shrinking… Continue Reading…

Banking, Economy

“BIS warns world economy at critical juncture in inflation fight”

“LONDON (Reuters) – The world’s central bank umbrella body, the Bank for International Settlements (BIS), called on Sunday for more interest rate hikes, warning the world economy was now at a crucial point as countries struggle to rein in inflation…… Continue Reading…

Banking, Business

“Cut Stocks, Buy Gold, Hold Your Cash, JPMorgan’s Kolanovic Says”

“A debt-ceiling negotiation that remains in limbo, elevated recession risks and a hawkish Federal Reserve stance are just a few of the reasons JPMorgan Chase & Co.’s Marko Kolanovic is advising clients to further dump equities and hold onto cash.… Continue Reading…

Banking, Real Estate

“PacWest to Sell $2.6 Billion Real Estate Loans at Discount”

“PacWest Bancorp, one of the US lenders engulfed in the regional banking turmoil, agreed to sell a $2.6 billion portfolio of real estate construction loans amid efforts to shore up liquidity. Kennedy-Wilson Holdings Inc. will purchase the group of 74… Continue Reading…