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...These Brady bonds were created to convert the defaulted bank loans of 17 countries between 1990 and 1998 into new tradable securities with various credit and liquidity enhancements, such as interest payments...
..., associate director at S&P Global Ratings....
...But security guards at both locations said there was no company with that name in those buildings....
...Over the years, the cap led to banks paying much higher salaries and smaller bonuses, reversing the traditional pattern — though this has given readers more financial security in tougher times....
...S&P puts the group’s risk-adjusted capital ratio at about 12 per cent, less than most banks core capital....
...As you can see at right, bank credit is still restricted, but spreads don’t care....
...But advocates say integrating blockchain into traditional financial markets could lead to more efficient processes and cost savings for banks and their investors....
...In contrast, the S&P 500’s price-to-book ratio is close to the record 5 times it touched in 2021 and 2000 (the Nasdaq’s P/B ratio is close to 7.5 times)....
...Chart of the day The S&P 500 rose 3.1 per cent in July after closing up 0.2 per cent yesterday at 4,588.96....
...Also, S&P Global November PMI data for manufacturing and services UK: GfK Consumer Confidence Survey US: S&P Global November PMI data for manufacturing and services....
...The S&P 500 hit a new record last week, in part down to the rosy economic outlook....
...USDC: 2 (second-highest) // market cap of $24bn USDC benefits from full backing by low-risk assets, primarily short-dated securities and deposits with banks....
...You see the same thing when you look at savings — the amount of money people have in checking and savings accounts across the income distribution. Look at people who make less than $25,000 a year....
...That compares with the S&P 500’s 14 per cent gain. The wild swings in bank stocks seen in March are over. But the sector’s challenges remain. Enjoy the rest of your week. Pan Kwan YukLex writer...
...“This is face saving for their stupidity,” says Karel Lannoo, chief executive of the Centre for European Policy Studies, arguing that the EU’s aspiration to move clearing from the UK was a “waste of time...
...Also, Daylight Saving time begins, with clocks going forward one hour....
...The Economist’s argument is that (a) households’ excess savings will soon be exhausted, and when they are, higher rates will bite (b) companies are already feeling the pain at the margins, as rising bankruptcies...
...China’s benchmark stock index, the CSI 300, has lost 32 per cent since the start of 2021; America’s S&P 500 has gained 39 per cent in the same period....
...And the bank expects Japanese P/B ratios to hit an average of 1.8 by 2025, versus 1.4 at the moment and just 0.95 in late 2012....
...Arseniy Yatseniuk Chairman, Kyiv Security Forum; Prime Minister of Ukraine 2014 and 2014-2016 Lawrence H Summers President Emeritus of Harvard University, US Treasury Secretary 1999-2001 Amb Robert B Zoellick...
...And money market funds, which use the same structure as investment mutual funds but compete with banks for cash savings, currently hold an additional $6tn in assets, an all-time high....
...We haven’t mentioned the B-word yet. Bonds....
...Brazil, which has a triple B minus credit rating from S&P, six rungs lower than Israel, issued a seven-year dollar paper this week in its first-ever foreign currency sustainable bond with a yield of 6.5...
.../ From J F Siebert, Shetland, UK...
...Hence why Napier recommends having no fixed-income securities in your investment portfolio whatsoever....
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