When asked about how tighter regulations affect banks’ business models, JPMorgan Chase & Co.’s Chief Executive Officer Jamie Dimon commented that it was great news for hedge funds and private equity firms.
Richard Cooper’s phone is something of an early alarm bell for the global economy. Lately, it’s been ringing a lot.
The second quarter was characterized by a debt ceiling showdown (which perversely provided a boost to liquidity) and by a big spurt in tech stocks.
As summer temperatures peak, inflation just won't completely cool down. The question is how much more the Federal Reserve should do about it.
While we agree with the enthusiasm for AI that has helped the market rally, investors may be better served by patience than by chasing recent risk-on sentiment.
The bond market’s re-energized bulls may want to dial down their excitement because their fortunes hinge on whether an abstract, almost elusive number, is as low as they assume.
Silicon Valley venture capitalists are racing to get into artificial intelligence companies — including investors who once bet big on crypto.
In his latest paper, James Montier lays out a framework for spotting what he terms “slow burn Minsky moments,” or the economic vulnerabilities associated with the build-up of private sector debt.
Led by the Federal Reserve’s campaign of increasingly large hikes, interest rates have risen meaningfully year-to-date. Conventional wisdom would guide investors to sell fixed income — a reflection of one of the most fundamental relationships in the investment world: as rates go up, their investments go down.
Why can’t your staff just do their job on their own without you having to look over their shoulder?
Income-driven repayment will ease the burden of resuming student loan payments.
Shifting the risk-reward ratio in your favor.
The second half of 2023 has officially begun, meaning it’s time for us to reflect on the commodities market so far this year. Lithium increased by 10.81%, making it the best-performing commodity and one of only two that recorded a positive return, the other being gold.
Money is getting faster. Regulators need to adapt.
Investment banking work has all but dried up and the private equity industry bears a lot of the blame. The bad news for those involved is that managers of buyout funds might struggle to get their flywheels spinning again even when the current economic uncertainty starts to clear up.
"If your only tool is a hammer, every problem looks like a nail." This old saying still rings true as central banks keep ratcheting up the interest-rate pain.
The recent demise of Silicon Valley Bank and a few other regional lenders is forcing policymakers to revisit a difficult question: What should the government do to prevent such damaging bank runs? Should it yet again expand deposit insurance?
The digital euro, like a lot of central bank proposals to issue virtual cash, has so far existed in a policy sweet spot: maximum imagination, minimal execution.
We see different and abundant opportunities in the new macro regime. We go granular within asset classes, regions, and sectors – and harness mega forces.
Central banks in the developed world have raised interest rates higher and faster than at any time in recent memory. But until labor markets start to slow, policymakers are unlikely to take their feet off the brakes.
Central bankers think they can handle a situation and fire the artillery. It always has an effect… but ultimately it is rarely the effect they wanted. Doing nothing at all might have been better but that wasn’t an option. They’re trapped in an endless spiral of intervention.
India is rapidly transforming into a formidable global superpower and an increasingly attractive destination for investor capital. Amid rising geopolitical tensions and the impact of disruptive technologies, India's story is a beacon of opportunity in a challenging landscape.
Five of the six biggest banks — all apart from Citigroup Inc. — are likely to see their capital requirements lowered for the year ahead after sailing through a tougher test than last year with smaller losses.
There’s a mantra in markets that you’re not supposed to “fight” the Federal Reserve. Policymakers fight inflation by tightening “financial conditions,” and broad market rallies tend to work against that objective.
What are the five non-financial areas advisors can help clients focus on to de-risk their business and better secure funding from lenders?
Many economists have been forecasting a recession for 2023 due to tightening monetary policy. But that recession has not arrived yet.
Imagine a new digital environment where our data is portable and democratized, challenging the current monopolies. Web3 promises to be such an environment, using blockchain technology.
Treasury Secretary Janet Yellen sees diminishing risk for the US to fall into recession and suggested that a slowdown in consumer spending may be the price to pay for finishing the campaign to contain inflation.
Surging interest rates have made the coupons look meager, the Federal Reserve is shrinking its exposure, and the regional banking crisis left the regulator with about $100 billion of the bonds to sell.
This week I saw something I haven’t in a while: a brochure from Strutt & Parker advertising a price reduction on a rather charming Notting Hill house. It is now a mere £4,750,000 ($6 million) — down around 6% from its original listing price.
Central banks have ramped up their hawkish rhetoric this month but for bond bulls, that’s a good thing.
Modern cars are marvelous, except when they need fixing — in which case the bill for even a seemingly minor dent can easily reach four or even five figures. Consumers and fleet owners are being stuck with huge repair bills while auto insurers are hiking premiums.
Imagine an investment with stock-like returns and cash-like stability, or close to it. Many investors believe they have found such a thing. It’s called direct lending, and like countless investments before it that promised big profits with little risk, it’s probably too good to be true.
Though recent data suggests China's re-opening growth has slowed, it's likely temporary. As China's recovery continues, it may have implications for U.S. inflation and rates.
In this article and video, we are going to cover Fidelity National Information Services.
Sunsetting a core benchmark rate is no small feat.
While the Euro Area reported inflation of 6.1% in May, the US was able to post 6% year-over-year as of February. In this framework, a hike, and potentially two more to follow, was to be expected before a pause could occur.
The US money-market industry, one of the big winners on Wall Street as the Federal Reserve hiked interest rates, is getting another lift with more tools at its disposal to attract investors and expand its unprecedented mountain of cash.
The intensity of the chatter around AI has led to some concerns that the space might be in a bubble or that interest in it could wane. However, a look at flows into ETFs that focus specifically on AI suggests that investor engagement remains strong.
Naturally, the recent banking crises in the US and Europe raise concerns about EM exposure to financial sector risks too. We’ve found that the EM financial sector overall looks strong and resilient—but that several individual EM countries’ banks could be vulnerable.
Bond traders are stepping up wagers that the Federal Reserve will steer the US economy into a recession.
The Eurozone just entered a recession as the region posted two consecutive quarters of negative economic growth. The manner in which it entered a recession is a bit quirky.
The punditry knows that clients dread uncertainty. They count on it. They prey on it.
With the US debt ceiling standoff defused, the Treasury can start borrowing big money again. The government is forecast to issue up to $1 trillion of debt this year in short-term bills, sucking cash out of the US financial system.
Despite market headwinds, investors remain bullish on real estate. As traditional sectors, like office and retail, continue to underperform, farmland presents an opportunity for investors seeking capital preservation and downside protection.
The collapse of Silicon Valley Bank will likely lead to tighter credit conditions as banks pull back from lending. Private credit managers are poised to fill the void that banks have left and can negotiate favorable terms, according to Franklin Templeton Institute’s Tony Davidow.
If you learn how to interpret someone’s handshake, you can immediately adapt your behavior to appeal to their communication needs and instantly build a more productive relationship.
US mortgage applications for home purchases fell for a fourth week as 30-year fixed rates held close to an almost seven-month high.
Portfolio Manager Alex Zarechnak identifies six key themes from the COVID years—some new, some familiar—to help anchor investors in today’s emerging markets.
The US debt ceiling negotiations brought considerable volatility to market prices.