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☆ Japan's Aozora Bank hits near 3-year lows as bad U.S. property loans prompt loss forecast
▼ + stars: | 2024-02-02 | by ( Clement Tan | ) www.cnbc.com time to read: +4 min

The bank's Tokyo-listed shares fell for a second day, tracking losses in U.S. regional lenders overnight. Aozora Bank shares hit near three-year lows Friday, as investors continued to hammer the Japanese commercial lender after it downgraded its annual outlook to a loss on bad U.S. commercial real estate loans. "U.S. real estate lending for around 10% of (its) total lending with a CET1 ratio of below 7% due to unrealized losses on securities has no precedent." Aozora's update came shortly after U.S. regional bank New York Community Bancorp announced a surprise net loss of $252 million for the fourth quarter. "However, higher losses tied to commercial real estate office exposure, increase in criticized loans tied to multi-family CRE [commercial real estate] are a reminder of ongoing credit normalization that we are likely to witness across the industry," Bank of America U.S. banking analysts wrote.

Persons: Goldman Sachs, Aozora, Masahiko Sato, Sato, NYCB, — CNBC's Michael Bloom Organizations: Aozora Bank, Japan's Aozora Bank, Nikkei, Equity, SMBC Nikko Securities, New, New York Community Bancorp, Signature Bank, Bank of America, Bank of America U.S Locations: Tokyo Japan, Tokyo, U.S, New York

☆ The market has shaken off government shutdowns in the past. Here's what Wall Street expects
▼ + stars: | 2023-09-29 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

A government shutdown looming on the horizon could dampen sentiment to start October even as Wall Street wraps up what's been a challenging month and quarter. Many market participants expect that the financial markets and economy will broadly shake off concerns from a shutdown as they have in the past. "The market's probably going to set it aside until or unless it starts to have a larger impact on behaviors." Economic impact Historically, government shutdowns have been relatively short-lived, though they have been longer and more disruptive recently. Meanwhile, Jay Woods, chief global strategist at Freedom Capital Markets, expects the government shutdown is "all bark and no bite" when it comes to market reaction.

Persons: Wells Fargo, Rob Haworth, Wells, Michael Pugliese, Bank's Haworth, Aditya Bhave, Jay Woods, Woods, Jeff Hirsch, Hirsch, Lamb Weston Organizations: RBC Capital Markets, Federal Reserve, U.S . Bank, Nasdaq, BEA, Bank of America U.S, Labor, Freedom Capital, Atlanta Fed's, PMI, Manufacturing, McCormick, ADP, Services PMI, Constellation Brands, Conagra, Consumer Credit Locations: Wells Fargo

☆ Stock market weakness could continue in week ahead as looming government shutdown adds to fears
▼ + stars: | 2023-09-22 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

Headwinds are piling up for the market heading into the final week of the month, as September lives up to its reputation as a horrible month for Wall Street. Wolfe Research's Rob Ginsberg pointed out in a note this week that the CBOE Volatility Index (VIX) doesn't suggest much fear in markets. "We have a potential shutdown in Washington, as well as the UAW strike, which could potentially create some volatility in jobs data in particular." But investors heading into the final trading week of September will likely see a continuation of those losses, if history is any indication. "We could see the market experience additional weakness over the next several weeks," said Sam Stovall, chief investment strategist at CFRA.

Persons: Wolfe, Rob Ginsberg, VIX, Amy Wu Silverman, Aditya Bhave, Shannon Saccocia, Saccocia, there's, RBC's Wu Silverman, what's, Goldman Sachs, Scott Rubner, Sam Stovall, Michael Bloom, Jeff Cox Organizations: Wall, Dow Jones, Reserve, Bank of America U.S, UAW, CFRA, Costco Wholesale, Nike, Chicago, Dallas Fed, New, Richmond Fed, Costco, Micron, . Kansas City Fed Manufacturing, BEA, Auto, PCE Deflator, Chicago PMI Locations: Washington, Detroit, . Kansas, Chicago, Michigan

☆ The Fed would be 'flying blind' on interest rate decisions after a government shutdown
▼ + stars: | 2023-09-20 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Could the Fed hike in December instead? Labor's consumer price index is a widely followed measure by the public and also figures into Fed calculations. While they aren't the only inflation gauges central bank officials use, not having them around in November would complicate the rate decision. Bank of America, though, expects the Fed to approve one more hike, which would take its key borrowing rate to a target range of 5.5%-5.75%. Correction: Another hike by the Fed would take its key borrowing rate to a target range of 5.5%-5.75%.

Persons: Aditya Bhave, Bhave, — CNBC's Michael Bloom Organizations: Federal Reserve, Bank of America, Labor, Commerce, Bank of America U.S, Fed

☆ CNBC Daily Open: Why did the unemployment rate and jobs rise in tandem?
▼ + stars: | 2023-09-04 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. What you need to know todayThe bottom lineThe U.S. economy added more jobs than expected in August, but the overall unemployment rate rose. If the unemployment rate goes up, that means the proportion of people looking for a job compared with the total labor force has grown. Investors, too, cheered the jobs report. Major indexes rose in response to the jobs report as well.

Persons: Robyn Beck, Stephen Juneau, —, Jeff Cox Organizations: HK MBG, BMW, HK, Afp, Getty, CNBC, Bank of America U.S, Federal, Dow Jones, Nasdaq Locations: Garden Grove , California, U.S

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