Global equity funds see fifth consecutive weekly outflow amid rising bond yields
U.S. dollar banknotes are seen in this illustration taken March 10, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsOct 20 (Reuters)...
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Morning Bid: To 5% and beyond, bond yields soar
A look at the day ahead in U.S. and global markets from Mike DolanA buoyant U.S. economy, hawkish Federal Reserve...
Banks report continued pain on commercial real estate loans
The front of an office building is seen in New York City, U.S., July 7, 2023. REUTERS/Amr Alfiky/File photo Acquire...
US regional banks earn more on loans but warn on rising deposit costs
The Wall St. sign is seen outside the New York Stock Exchange (NYSE) in New York, U.S., December 17, 2019. REUTERS/Brendan McDermid Acquire Licensing RightsNEW YORK, Oct 18 (Reuters) - Several U.S. regional banks beat analysts third-quarter profit expectations on Wednesday as higher interest rates allowed them to charge more for loans, although rising loan loss provisions and deposit retention costs crimped margins.Shares of several regional banks fell, including M&T Bank and US Bancorp.Stronger net interest income (NII), the difference between what banks earn from lending and pay out on...
Roaring US economy and foreign murk feeds home bias
LONDON, Oct 18 (Reuters) - With the U.S. economy roaring at a faster pace than China and global politics increasingly hard to fathom, there's a feeling the best bet in town is to stick with U.S. stocks regardless of relative valuations.After another forecast-busting U.S. retail and industrial readings for last month, the Atlanta Federal Reserve's real-time economic growth estimate hit an annualised 5.4%, more than a point higher than China's equivalent.And all against a murkier international backdrop.The Gaza crisis throws yet another geopolitical imponderable into an already crowded and confusing...
BofA profit beats estimates on higher interest income, investment banking gains
A Bank of America logo is pictured in the Manhattan borough of New York City, New York, U.S., January 30, 2019. REUTERS/Carlo Allegri/File Photo Acquire Licensing RightsOct 17 (Reuters) - Bank of America (BAC.N) beat Wall Street estimates for quarterly profit on Tuesday as it joined rivals in earning more from interest payments, while benefiting from a better-than-expected performance of its investment banking and trading divisions.The U.S. economy has shown resilience despite rising interest rates as a hot job market and healthy finances prompt consumers to spend on goods, travel...
Morning Bid: Banks, Biden visit buoy markets
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023....
China ramps up liquidity support to banking system
Paramilitary police officers stand guard in front of the headquarters of the People's Bank of China, the central bank (PBOC),...
Yellen says US-backed IMF funding increase is ‘pretty likely’
U.S. Treasury Secretary Janet Yellen addresses a news conference during a G20 finance ministers' and Central Bank governors' meeting at...
Citigroup profit beats estimates on trading, interest payments; CEO pushes overhaul
Customers use ATMs at a Citibank branch in the Jackson Heights neighborhood of the Queens borough of New York City, U.S. October 11, 2020. REUTERS/Nick Zieminski/File Photo Acquire Licensing RightsNEW YORK, Oct 13 (Reuters) - Citigroup's (C.N) third-quarter profit beat estimates on Friday as it benefited from a surge in trading revenue, investment banking fees and interest payments while undertaking its biggest overhaul in decades.The bank said it will cut management layers from 13 to eight as part of a sweeping reorganization. In the two top layers of leadership, 15%...