Hints and tips:
...strategy team at Bank of America....
...Active ETFs may account for only up to around 7 per cent of assets in ETFs, he said, but about a fifth of the inflows....
...The rethink on US rates has also spilled over to European markets, with investors now pricing in three cuts for the European Central Bank and two for the Bank of England in 2024, down from more than six...
...In December, a group of US economists found that 40 per cent of office loans on bank balance sheets were under water, potentially causing problem for dozens of regional banks holding them....
...Smart reads American football US investors now own more than a third of the 92 professional teams in England’s top four soccer leagues, Bloomberg News reports....
...Unhedged: Turning back to banking for a second, it seems to me that some of the big banks are doing OK, despite all the regulation. Bank of America and JPMorgan are reporting quite good profits....
...Underlying debt, which excludes Bank of England debt, will be 91.7% in 2024-25 according to the OBR, then 92.8%, 93.2%, 93.2% before falling to 92.9% in 2028-29 with final year headroom against debt falling...
...JOHN NEUFFER: The US no longer manufactures the most innovative chips. 7 nanometers and below, Taiwan manufactures 92% of those chips. 8% of those chips are manufactured in South Korea, and none are manufactured...
...With help from the Central American Bank for Economic Integration (CABEI) and the Development Bank of Latin America (CAF), El Salvador repaid in full an $800mn bond which was set to mature a week later....
...A group of banks led by Morgan Stanley, which includes Bank of America and Barclays, committed $13bn in financing for the deal back in April....
...Patterns of saving also differ across countries, data from the World Bank show....
...Underlying debt is forecast to be 92.4% of GDP next year, 93.7% in 2024-25; 94.6% in 2025-26, and 94.8% in 2026-27, before falling to 94.6% in 2027-28. We are meeting the debt priority....
...The US West Texas Intermediate crude futures contract was down $1.02 at $99.26 a barrel this morning after slumping 7 per cent yesterday....
...There are some hopeful signs from the World Bank and Capterio’s analysis of the 2021 data....
...Based on current valuations, Visa, Mastercard and PayPal would be among the five largest constituents of the financial sector, alongside JPMorgan and Bank of America....
...Recent acquisitions have included JPMorgan’s purchase of a 40 per cent stake in Brazil’s C6 Bank while 92 deals were announced in the three months to June 30, more than twice as many in the same period a...
...The two German lenders provided loans of €125m each to Wirecard for the purchase in 2015 from a Mauritius-based fund called Emerging Markets Investment Funds 1A....
...in Latin America....
...Globally, corporate debt excluding financial firms has risen from 84 per cent of gross domestic product in 2009 to 92 per cent in 2019, according to the Institute of International Finance....
...The US West Texas Intermediate benchmark hit a low of $19.92 a barrel, losing more than 6 per cent....
...The US 30-year bond yield is near 1.5 per cent, up from last week’s record intraday low of 0.7 per cent....
...By about 2pm the serious men with bad hair will arrive to tell us that actually there’s no new money because, for example, the booster industry programme is a reallocation of funds from the industry booster...
...The latest monthly outlook from DWS notes: “From a portfolio perspective, we feel the massive reallocation of global funds from equities to bonds in August is of particular importance.”...
...Hedge funds have already become buyers of the UK currency this year, the US bank said, helping the pound to become one of the best performing major currencies in the world so far this year....
...However, the early reversal of Wednesday’s rally was a reminder of the uncertainties facing investors that led them to pull money from investment funds focused on US equities in what has been an unusually...
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