Tag: National Bank
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Stricter rules for banks after SVB collapse?
Senator Tim Scott, RS.C., right, greets Michael Barr, off-camera, Vice Chairman for Oversight of the Board of Governors of the Federal Reserve System, at the Dirksen Building on Tuesday, March 28, 2023. Tom Williams | Cq-roll Call, Inc. | Getty Images This report comes from today’s CNBC Daily Open, our new newsletter for international markets. […]
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Market reaction to Fed rate hike ‘almost always fake’
CNBC’s Jim Cramer said Friday that this week was the latest example of the market going crazy after a Federal Reserve meeting. But based on previous market reactions to the central bank’s previous rate hikes, this week’s activity may not prove to be very meaningful in the long run. The initial reaction to the Fed’s […]
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Financial instability as the biggest market risk: Wells Fargo
A major Wall Street firm ranks financial instability over inflation as the biggest economic risk for the next three months. In an interview following the Federal Reserve’s quarter-point rate hike, Michael Schumacher of Wells Fargo Securities suggested that policymakers are underestimating how quickly tightening credit conditions could hurt the economy. “The Fed doesn’t give enough […]
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US Treasury Bond Yields Ahead of Fed Interest Rate Decision
US Treasury yields fell on Wednesday as investors awaited the Federal Reserve’s latest interest rate decision and central bank monetary policy guidance. At 5:48 a.m. ET, the 10-year Treasury yield was down 2 basis points to 3.587%. The 2-year Treasury was trading at 4.134% after falling about 4 basis points. Yields and prices move in […]
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Janet Yellen’s guarantee to banks has a catch
US Treasury Janet Yellen speaks at the American Bankers Association Washington Summit on March 21, 2023 in Washington, DC. Drew Anger | Getty Images News | Getty Images This report comes from today’s CNBC Daily Open, our new newsletter for international markets. CNBC Daily Open brings investors up to speed with everything they need to […]
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Not everyone is happy that UBS is buying Credit Suisse
A construction site security guard outside a bank branch of Credit Suisse Group AG in Bern, Switzerland, on Monday, March 20, 2023. Stefan Wermuth | Bloomberg | Getty Images This report comes from today’s CNBC Daily Open, our new newsletter for international markets. CNBC Daily Open brings investors up to speed with everything they need […]
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Evercore warns that SVB outages will force the new market to bottom out
Evercore ISI compares the banking stress to another critical time on Wall Street: the year of the savings and credit crisis and the epic crash. “To think that you would see this kind of financial stress building up in the system 24 hours later [Fed] chairman Powell suggested he could go 50 [basis points] on […]
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What Silicon Valley Bank means for markets
People line up outside the closed headquarters of the Silicon Valley Bank (SVB) on March 10, 2023 in Santa Clara, California. Justin Sullivan | Getty Images This report comes from today’s CNBC Daily Open, our new newsletter for international markets. CNBC Daily Open brings investors up to speed with everything they need to know, wherever […]
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Two bond ETF strategies that can help investors profit from interest rate hikes
According to Joanna Gallegos, co-founder of fixed income ETF issuer BondBloxx, the interest rate jitters are meaningfully pushing investors toward the shorter end of the yield curve. Gallegos, former head of global ETF strategy for JPMorgan, thinks it’s a good approach. “It’s an intuitive trade. This isn’t 2022. This isn’t even five years ago. The […]
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Market prices swing back to Fed rate hike by a quarter point
A trader works on the floor during morning trading on the New York Stock Exchange (NYSE) on March 10, 2023 in New York City. Spencer Plat | Getty Images It seemed only yesterday that markets were confident that a tougher Federal Reserve would raise its benchmark interest rate by half a percentage point at its […]