The banking crisis tightened credit conditions “While financial stabilization tools have helped calm conditions in the banking sector, developments in the industry on the other hand are contributing to a tightening of credit conditions and are likely to affect economic growth, employment and inflation,” Powell explained. “As a result, we may not need to raise … Read more
NEW YORK Better than expected economic data weighed on fixed income. The number of initial applications for unemployment benefits fell more sharply than expected in the past week. In addition, the leading indicator for the Philadelphia region brightened more in May than forecast. The data tends to point to further interest rate hikes by the … Read more
Oil prices rose as investors flocked to risky assets amid optimism about the debt ceiling negotiations in the United States, and they largely ignored a bearish report regarding the country’s oil inventories. US crude prices stabilized above $72 a barrel on Wednesday due to an improvement in risk appetite in general in the markets, driven … Read more
PARIS (Agefi-Dow Jones)–Jerome Powell, the chairman of the American Federal Reserve (Fed), recognized it at the beginning of May: after the last rate hikes announced at the beginning of the month, the major central banks are approaching the goal. Monetary institutions are beginning to give an idea of terminal interest rates. They would be around … Read more
State Street and Charles Schwab have recently experienced a significant drop in deposits. The decrease in assets has been attributed to a variety of external factors, including the COVID-19 pandemic and current economic uncertainty. As two of the industry’s largest custodians, these developments raise important questions about the state of the financial market and the … Read more
Bitcoin has soared to new heights, surpassing the $30,000 mark for the first time in over a year. This dramatic rise in the cryptocurrency’s value comes as a result of increased demand from investors and a renewed interest in digital currencies. The past year has seen a significant surge in Bitcoin’s popularity, with more people … Read more
Inflation The price increase for food was 21.8 percent in 2022. (Photo: dpa) Frankfurt Despite sharply rising energy prices, disrupted supply chains and capacity bottlenecks, the past few years have not been years of crisis for many companies. Not only large energy companies recently reported record profits, but also companies such as BMW, Bosch, Hapag … Read more
WELT: Mr. Utermann, in a dramatic rescue operation, the Swiss UBS took over Credit Suisse. How do you rate the merger? Andreas Utermann: The role of the “Monday morning quarterback”, who analyzes the games from the weekend afterwards, has never suited me. I prefer to look ahead. And then I noticed that the markets have … Read more
In recent months, former Brazilian President Luiz Inácio Lula da Silva has been steadily increasing in popularity, surpassing current President Jair Bolsonaro in approval ratings. This comes as a surprise to many, given the controversies surrounding Lula’s previous terms in office, including corruption charges and imprisonment. Despite this, the Brazilian people seem to be rallying … Read more
Inflation data for the 20-country eurozone is expected to be announced tomorrow, Thursday, and economists expect inflation to slow to 8.3% from 8.6%, while core inflation, which has been of interest to European Central officials recently and excludes volatile energy and food costs, is likely to remain at a record level. It is 5.3%. When … Read more