Friday, 16 February, 2024
Fed’s Barr Says Regulators Eyeing CRE Risk, Downgrade More Banks Fed asking if lenders have done enough to brace for bad loans Central bank steps up pace of issuing findings and downgrades By Katanga Johnson (Bloomberg) — US regulators are “closely focused” on risks in commercial real estate loans, and have stepped up downgrades of lenders’ supervisory ratings amid new strains on their finances, according to the Federal Reserve’s chief bank watchdog. Supervisors are looking […] Read More
Monday, 19 February, 2024
Strategic Shifts for Investors as Interest Rates Cycle nears end Anticipating a… ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ Newsletter on LinkedIn Fixed Income Market Review Market insights from the team at Jamieson Coote Bonds Jamieson Coote Bonds See what others are saying about this topic: Open on Linkedin Fixed Income Market Review – January 2024 Strategic Shifts for Investors as Interest Rates Cycle […] Read More
Monday, 19 February, 2024
THE AI’S HAVE IT: OpenAI have completed a tender offer deal with Thrive Capital, allowing employees to cash out, which values the company at $80bn+ (vs similar deal early last year which valued it at $29bn). Just the 40x sales then, pretty standard these days. In terms of hype vs reality, interesting to see another article (Sunday Times (https://www.thetimes.co.uk/article/ai-mania-is-cooling-as-silicon-valley-plays-the-long-game-3pnr00ptd}) debating the actual corporate take-up (ie: monetisation) of the gargantuan AI spending going on. Follows on […] Read More
Wednesday, 21 February, 2024
BARX on the UST ROLLS Asset manager positioning shifts and relative value are important for the upcoming Mar24 to Jun24 roll cycle, Andres Mok and Amrut Nashikkar note. The TY, US and WN all feature potential CTD switches, while the wild card in WN “will not be in effect in the afternoon of the March FOMC meeting.” Bearish TU: Asset manager net long positioning has been largely unchanged since last roll. Relative cheapening of the front CTD “imparts a […] Read More
Wednesday, 21 February, 2024
{US} UBS now sees Fed starting to cut rates in June UBS has updated its predictions for when the Federal Reserve will start cutting interest rates, moving the expected timing from May to June. Consequently, the broker now projects a total reduction of 75 basis points (bps) in interest rates for 2024, a decrease from its earlier estimate of 100 bps. Read More
Friday, 23 February, 2024
Goldman Pushes Back Bet on First Fed Interest-Rate Cut to June2024-02-23 06:49:02.283 GMT By Malcolm Scott(Bloomberg) — Goldman Sachs Group Inc. economists havepushed back their view on when the Federal Reserve will begincutting interest rates to June after parsing recent commentsfrom the central bank and minutes of its January meeting.The US investment bank has dropped its forecast for a Maycut and now expects four reductions this year, versus fivepreviously, with moves in June, July, September […] Read More
Friday, 23 February, 2024
Where mortgage stress is on the rise For all the back-slapping about the absence of a recession and assuredness around a soft landing, this cycle is not yet over. Christopher Joye Columnist This column has been banging the table relentlessly about the fact the path for global services inflation will determine what happens to asset prices in 2024. The argument has been that most of the improvement in the inflation pulse has been an artefact […] Read More
Tuesday, 27 February, 2024
*BOE’S RAMSDEN SAYS CAN’T TAKE STABILITY FOR GRANTED *BOE’S RAMSDEN SAYS STARTING TO NORMALIZE BALANCE SHEET https://www.bankofengland.co.uk/speech/2024/february/david-ramsden-keynote-address-at-association-for-financial-markets-forum Read More
Tuesday, 06 February, 2024
– Euro zone consumers have trimmed their expectations for inflation over the next 12 months, a European Central Bank poll showed on Tuesday, in a sign the ECB’s credit-tightening efforts are having an impact. The Consumer Expectations Survey (CES) is used by policymakers to gauge whether the steepest streak of interest-rate hikes in the euro’s history has persuaded households that once runaway inflation will fall back to the ECB’s 2% inflation goal. The latest poll, […] Read More
Wednesday, 31 January, 2024
Powell was really really easy to paraphrase and as explicit as his data dependencies have allowed for a while: “Strong growth, strong labour, falling inflation. Economy is in a good place and don’t see March as likely time for a cut”. Stocks hit day lows during those comments in the presser. Read More
