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Banking

Morning Bid: Fed pivot begins to crystallize

Oct 11 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist.A slump in U.S. bond yields, after another Federal Reserve official signaled that the central bank's interest rate-hiking cycle is over, will put Asian markets on a positive footing on Wednesday, despite renewed stress in China's property sector.Investors in the region also have key Japanese business activity indicators and South Korean current account figures on their plate on Wednesday, and there will no doubt be headlines coming from the IMF and World...
Banking

US bank profits set to rise on higher rates while Wall Street lags

NEW YORK, Oct 10 (Reuters) - Profits at the biggest U.S. consumer lenders are likely to rise in the third quarter, in contrast with investment banks still facing a dealmaking slump, analysts said.JPMorgan Chase (JPM.N), which kicks off earnings for big U.S. lenders Friday, will set the tone for large banks. It is predicted to post a roughly 25% jump in earnings per share (EPS) versus a year earlier, LSEG estimates showed.Goldman Sachs (GS.N) and Citigroup (C.N) are expected to report the biggest EPS declines of 35% and 26% respectively,...
Banking

Global economy’s glide to ‘soft landing’ gets bumpy as bond yields jump

WASHINGTON, Oct 6 (Reuters) - Rocketing U.S. government bond yields that have led to a global jump in borrowing costs are raising new risks for economic policymakers hoping to lower inflation without triggering a major crisis.The world's finance officials, who will gather in Morocco next week for the annual meetings of the International Monetary Fund and World Bank, may disagree over the exact drivers of a global bond rout that now appears to reflect more than guessing how far central bankers will raise interest rates.The cause - whether high government...
Banking

Fed officials largely sanguine about rise in US bond yields

San Francisco Federal Reserve Bank President Mary Daly poses at the bank’s headquarters in San Francisco, California, U.S., July 16, 2019. REUTERS/Ann Saphir/File Photo Acquire Licensing RightsOct 5 (Reuters) - Federal Reserve officials on Thursday indicated little concern that the recent rise in U.S. Treasury yields could imperil a "soft landing" for the economy, and said it could actually help the central bank in its fight against inflation.The Fed held its benchmark overnight interest rate steady in the 5.25%-5.50% range last month, but signaled that one more quarter-percentage-point hike would...
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