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☆ Two strategists explain their respective investment preference for the China and India market
▼ + stars: | 2024-04-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTwo strategists explain their respective investment preference for the China and India marketAlexander Cousley of Russell Investments shares why he prefers the China market over the India market on a valuation basis while Bhaskar Laxminaryan of Bank Julius Baer says that the India market is a "compounding story" that is just getting started.

Persons: Alexander Cousley, Bhaskar Laxminaryan, Bank Julius Baer Organizations: Russell Investments, Bank Locations: China, India

☆ 'This stock could double': Fund manager loads up on shares of two banks amid the volatility
▼ + stars: | 2024-02-06 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

There are opportunities in the banking sector despite a rise in volatility and concern over steep losses at some lenders, according to fund manager Cole Smead. The stock makes up 1.36% of the Smead Value Fund . He believes UniCredit's share buybacks while the shares trade below book value will drive book value growth higher than the current 8% return on equity. "When you buy back shares below book, there is a multiplier effect on book value growth," Smead explained. The fund manager expects UniCredit will trade above book value over the next 12-18 months and use its stock to pursue further acquisitions.

Persons: Cole Smead, Switzerland's, Julius Baer, Smead, CNBC's, RoE, UniCredit Organizations: Smead Capital, Western Alliance Bank, KBW, New York Community Bancorp, Investors, Western Alliance Bank's, CNBC Pro Locations: Europe, U.S

☆ Top wealth manager Julius Baer caught in property write-off storm as CEO steps down
▼ + stars: | 2024-02-01 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

A pedestrian sheltering under an umbrella passes a Julius Baer Group Ltd. branch in Zurich, Switzerland, on Tuesday, July 13, 2021. Group Chair Romeo Lacher said he and the board "deeply regret" net credit losses of 606 million Swiss francs ($701 million), well above consensus expectations, which include a loan loss allowance of 586 million francs. Julius Baer in November announced its exposure to the struggling Austrian company, which has been hit by the higher interest rate environment. It further said Thursday it would exit its private debt businesses, winding down its remaining private debt book of 800 million million Swiss francs, 2% of its total loan book. The bank reported net profit attributable to shareholders of 454 million Swiss francs for the full-year 2023, down 52%, with earnings per share of 2.21 francs.

Persons: Julius Baer, Philipp Rickenbacher, Romeo Lacher, Rickenbacher, Nic Dreckmann, Anke Reingen Organizations: Julius Baer Group, Signa, Austrian, CNBC, Swiss, RBC Locations: Zurich, Switzerland, Swiss

GENEVA (AP) — Julius Baer says its CEO is resigning and the Swiss bank is quitting the private debt business as well as setting aside more than a half-billion Swiss francs (dollars) reportedly over its exposure to bankrupt Austrian asset manager Signa. Zurich-based Julius Baer said it was exiting the private debt business and the annual results reflected net credit losses of 606 million Swiss francs (about $702 million) — 586 million francs of which included a loan-loss allowance for unspecified private debt exposure. Photos You Should See View All 45 ImagesShares of Julius Baer were up nearly 6% to 50.02 Swiss francs in midmorning trading Thursday on the SIX Swiss Exchange following the news. Media reports said the bank's troubles were linked to Signa, but Julius Baer didn't specify. The bank announced the exposure to private debt issues in November, comprised of three loans to different entities at a “European conglomerate” active in commercial real estate and luxury retail.

Persons: — Julius Baer, Romeo Lacher, Julius Baer, Philipp Rickenbacher, Nic Dreckmann, Julius Baer didn't Organizations: GENEVA, Signa, SIX Swiss Exchange, Media, Credit Suisse, UBS Locations: Swiss, Austrian, Zurich, Vienna

☆ Banks are being rocked again as real estate losses mount
▼ + stars: | 2024-02-01 | by ( Anna Cooban | ) edition.cnn.com time to read: +5 min

The regional lender set aside $552 million in the fourth quarter to absorb loan losses, up from $62 million in the previous quarter. The increase was driven partly by expected losses on a loan used to finance an office building, it said. ET as shares in NYCB, as well as other regional banks, suffered sharp losses. Much bigger players are girding themselves for losses linked to commercial real estate. Europe’s benchmark Stoxx Europe 600 Banks index, which tracks 42 big EU and UK banks, is up 23% since a low in late March.

Persons: Thomas Cangemi, Brendan McDermid, Julius Baer, Philipp Rickenbacher, Arnd Wiegmann, Reuters Philip Lawlor, ”, “, ” Lawlor, CNN’s Matt Egan Organizations: London CNN, Credit Suisse, New York Community Bancorp, New York Stock Exchange, Japan’s Aozora Bank, Federal Reserve, ”, CNN, Signa Group, Chrysler, Reuters, Deutsche Bank, Bank, Suisse —, UBS, Wilshire Indexes, KBW Locations: Europe, New York, Tokyo, Zurich, California, Republic, NYCB, Banc, Swiss, Austrian, Switzerland

☆ Sanofi CEO under pressure to woo investors after spending shock
▼ + stars: | 2023-12-05 | by ( Ludwig Burger | ) www.reuters.com time to read: +5 min

[1/2] Paul Hudson, chief executive officer of Sanofi, speaks during the annual results news conference at the company's headquarters in Paris, France, February 4, 2022. The market's shock reaction, compounded by a lack of details of the spending push, overshadowed Sanofi's plan to list its consumer unit, in line with an industry trend. David Song, a portfolio manager and investment partner at Tema ETF, said: "The narrative of Sanofi has been a margin expansion, earnings-driven story for a lot of investors." "Shouldn't investors give credit to managements who care about long-term shareholder value creation?," said Song. ($1 = 0.9206 euros)Reporting by Ludwig Burger; Editing by Josephine Mason and Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.

Persons: Paul Hudson, Sanofi, Benoit Tessier, Hudson, Dan Lyons, Janus Henderson, Markus Manns, David Song, Fabian Wenner, Julius Baer, Union's Manns, Janus Henderson's Lyons, Johnson, Song, Ludwig Burger, Josephine Mason, Emelia Organizations: REUTERS, Reuters, Janus Henderson Investors, Germany's Union Investment, Tema, Thomson Locations: Paris, France, British, Hudson, Denver, Swiss, Tema

☆ Swiss Banque Pictet pays $123 mln for helping clients evade US taxes
▼ + stars: | 2023-12-04 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +2 min

According to prosecutors, U.S. taxpayers with Pictet accounts in Switzerland and elsewhere evaded about $50.6 million in taxes between 2008 and 2014. As part of the agreement, Banque Pictet agreed to pay $122.9 million to the U.S. Treasury. As part of the agreement, Pictet, which oversees 632 billion Swiss francs ($724 billion) in client assets, will implement remedial measures and cooperate with the authorities' investigation. U.S. authorities have long accused Swiss banks of helping wealthy Americans evade taxes, and Pictet signalled it had been in contact with the U.S. for more than a decade. Credit Suisse in 2014 agreed to pay a $2.5 billion fine for helping Americans evade taxes in a conspiracy that spanned decades.

Persons: Andrew Kelly, Banque Pictet, Jim Lee, Pictet, Julius Baer, Renaud de Planta, Marc Pictet, Luc Cohen, Noele, Jan Harvey, Bill Berkrot, Christina Fincher Organizations: Internal Revenue Service, Washington , D.C, REUTERS, Banque Pictet, Justice Department, Banque, U.S . Treasury, U.S, Credit Suisse, UBS, Prosecutors, Noele Illien, Thomson Locations: Washington ,, Swiss, Switzerland, Pictet, New York, Zurich

☆ Geely’s stalled IPO discounts global expansion
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, Dec 1 (Reuters Breakingviews) - Electric-car marque Zeekr, controlled by China’s largest private auto group Zhejiang Geely, has hit a roadblock. It is putting on hold its New York initial public offering because of a mismatch in valuation expectations, Reuters reported on Thursday. It was hoped the listing would break the ice and encourage a resurgence in Chinese volumes in U.S. capital markets. Its prospectus was published in November, when global stocks recorded their best performance since 2020. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Xi Jinping, Joe Biden, Katrina Hamlin, Julius Baer’s, Una Galani, Thomas Shum Organizations: Reuters, Zhejiang, American, Tata Technologies, X, Barclays, Thomson Locations: HONG KONG, York, Mumbai, Europe, United States, China

☆ What one Swiss bank's troubles can tell us about market vulnerabilities — and social media
▼ + stars: | 2023-11-30 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

A pedestrian sheltering under an umbrella passes a Julius Baer Group Ltd. branch in Zurich, Switzerland, on Tuesday, July 13, 2021. The share price of Julius Baer plummeted after the Swiss private bank disclosed 606 million Swiss francs ($692.7 million) of loan exposure to a single conglomerate client. The 606 million Swiss franc exposure to one client — via three loans to different entities within a European conglomerate — is collateralized by commercial real estate and luxury retail, the company revealed. The bank last week booked provisions of 70 million Swiss francs to cover the risk of a single borrower in its private loan book. The European Central Bank recently examined the commercial real estate sector and the provisioning methods and capital buffers of European banks.

Persons: Julius Baer, Signa, Julius Baer's CET1, DBRS Morningstar, Vitaline Yeterian, Elisabeth Rudman, Julius Baer's Organizations: Julius Baer Group, Austrian, DBRS, CNBC, European Central Bank, Swiss Locations: Zurich, Switzerland, Swiss

☆ ASML’s new CEO has tricky path to a 1,000% return
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +2 min

On Thursday the Dutch group said Chief Executive Peter Wennink is retiring after a decade at the helm. The Veldhoven-based group dominates the market for lithography equipment, a key tool for making microchips used to power everything from smartphones to cars. Demand for its kit has seen ASML’s revenue quadruple and its shares deliver a 1,000% total return since Wennink took over in July 2013. But ASML’s current market power makes it harder for his successor to do deals without inviting antitrust scrutiny. The next 1,000% return is likely to take longer than 10 years.

Persons: Peter Wennink, Christophe Fouquet, ASML, microchips, Wennink, Fouquet, Karen Kwok, Julius Baer’s, Neil Unmack, Oliver Taslic Organizations: Reuters, X, Barclays, Thomson Locations: U.S, China

☆ Julius Baer declines to confirm Signa exposure
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +1 min

ZURICH, Nov 29 (Reuters) - Julius Baer's Chief Executive declined to confirm on Wednesday whether the private bank's 606 million Swiss franc ($693 million) exposure it disclosed earlier this week is to toppled property giant Signa. The CEO said it was too early to say what specific lessons could be learned relating to the large exposure in its private debt business. Troubled property group Signa, which owns scores of high-profile projects and department stores, declared insolvency on Wednesday. Signa, controlled by an Austrian magnate, has borrowed heavily from banks including Julius Baer, which on Monday disclosed it had an exposure of more than 600 million Swiss francs, the largest in its private debt loan book, to a European conglomerate. "I believe Julius Baer will be able to continue its risk appetite and its risk capacity as we have on average in the last few years."

Persons: Julius Baer's, Philipp Rickenbacher, Julius Baer, Rickenbacher, Noele Illien, Elaine Hardcastle, Tomasz Janowski Organizations: Financial Times, Global Banking, Thomson Locations: ZURICH, Austrian

☆ Ferrovial ends bumpy Heathrow ride on a high
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +2 min

LONDON, Nov 29 (Reuters Breakingviews) - Ferrovial (FERF.AS) may be relieved to be exiting one of the world’s busiest airports. The Spanish infrastructure giant has sold its final stake in Heathrow, left over after its 2006 acquisition of BAA, which owned the hub along with Stansted and Gatwick. Regulators forced BAA to sell airports like Gatwick on competition concerns, and Ferrovial later trimmed its stake to just 25%. In 2020 Covid-19 struck, and Heathrow has since been locked in disputes with airlines like British Airways, who accuse it of overcharging. The price paid by Ardian and Saudi Arabia’s Public Investment Fund values Heathrow including debt, at 25 billion pounds, a 27% premium to its regulated asset base.

Persons: –, Aimee Donnellan, Julius Baer’s, Lisa Jucca, Streisand Neto Organizations: Reuters, BAA, Stansted, Regulators, Gatwick, Heathrow, British Airways, Saudi Arabia’s Public Investment Fund, Jefferies, X, Barclays, Thomson Locations: Spanish, Heathrow, Gatwick, It’s

A view of the sign of Signa Holding on their headquarters in Vienna, Austria, November 6, 2023. REUTERS/Leonhard Foeger/File Photo Acquire Licensing RightsVIENNA/FRANKFURT, Nov 29 (Reuters) - Property and retail giant Signa declared insolvency on Wednesday after last-ditch attempts to secure fresh funding failed, the biggest casualty so far of Europe's property crash. Signa blamed its problems on external factors affecting its property business and pressure on high-street shopping. Fuelled by low interest rates, billions were funneled into property, which was viewed as stable and safe. Weakness in commercial real estate in the United States as offices remain empty after the pandemic and the struggles of major property developers in China have focused global attention on the sector.

Persons: Leonhard Foeger, Rene Benko, Signa, Switzerland's Julius Baer, Hannes Moesenbacher, Matthias Inverardi, Rachel More, Madeline Chambers, Catherine Evans Organizations: Signa, REUTERS, Rights, Chrysler, Austria's Raiffeisen Bank, Thomson Locations: Vienna, Austria, FRANKFURT, Germany, Switzerland, Hamburg, Bavaria, Hesse, Europe's, United States, China

☆ Barclays strategic fix will entrench low valuation
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +2 min

LONDON, Nov 28 (Reuters Breakingviews) - Barclays (BARC.L) is looking for a valuation cure. Cutting into the investment bank and reallocating to the more stable retail operations may look enticing but is hard to do without upending short-term returns. Still, the currently favoured suggestion of cutting less profitable investment bank clients sounds equally tricky, and might only shave at most a tenth off Barclays’ 219 billion pounds of corporate and investment bank risk-weighted assets. At Credit Suisse-inflated UBS (UBSG.S), which trades near book value, investment bank RWAs are 25%. Even getting Barclays’ corporate and investment RWAs back to 50% of the total would involve shrinking them by over a fifth.

Persons: Venkatakrishnan, Aimee Donnellan, Julius Baer’s, Warren Buffett, George Hay, Streisand Neto Organizations: Reuters, Barclays, Barclays ’, Deutsche Bank, Credit Suisse, UBS, X, Thomson Locations: reallocating

☆ Rolls-Royce's overhaul is deceptively ambitious
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +2 min

LONDON, Nov 28 (Reuters Breakingviews) - Rolls-Royce (RR.L) boss Tufan Erginbilgic wants to push Britain's biggest aerospace company to its limit. On the face of it, Erginbilgic's targets are not overly ambitious. Analysts were already forecasting a group operating margin of 11% in 2025 on the back of an air traffic recovery, according to LSEG data, not far below Erginbilgic's goal of 13%-15%. Yet this is the same margin range of Rolls-Royce's rivals Safran (SAF.PA) and General Electric (GE.N) which make engines for short-haul flights. Rolls-Royce's engines are instead used to power so-called widebody aircraft like Airbus's A330neo, used for transatlantic flights.

Persons: Tufan Erginbilgic, Safran, Pamela Barbaglia, Julius Baer’s, Warren Buffett, Neil Unmack, Streisand Neto Organizations: Reuters, Royce, Investors, General Electric, X, Thomson

☆ Julius Baer’s damage control only goes so far
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +2 min

The logo of Swiss private bank Julius Baer is seen at their headquarters in Zurich, Switzerland February 2, 2022. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsMILAN, Nov 27 (Reuters Breakingviews) - Julius Baer (BAER.S) has soothed agitated investors’ fears – but only up to a point. The $11 billion Swiss wealth manager said on Monday that 70 million Swiss francs of recently revealed losses stemmed from 606 million Swiss francs of loans to a single corporate client – which Reuters identified as troubled property group Signa. That’s 40% of the bank’s 1.5 billion Swiss francs riskiest credits, an uncomfortably high concentration. That implies a buffer of 450 million Swiss francs over the 14% threshold at which boss Philipp Rickenbacher gets comfortable doing share buybacks.

Persons: Julius Baer, Arnd, ’, –, Philipp Rickenbacher, Julius Baer’s, Lisa Jucca, Warren Buffett, George Hay, Streisand Neto Organizations: REUTERS, Reuters, X, Thomson Locations: Zurich, Switzerland, China

☆ Baer says exposure to single group tops 600 mln francs as Signa crisis deepens
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +2 min

The logo of Swiss private bank Julius Baer is seen at their headquarters in Zurich, Switzerland February 2, 2022. Julius Baer has exposure to troubled property group Signa, a source close to the matter told Reuters, adding that Julius Baer was expected to write down some of those loans. "If and when appropriate, the Group will remain prudent in booking further valuation adjustments as required," Julius Baer said. Last week Baer's shares slumped to their lowest this year as the bank dampened profit expectations after loan provisions amounting to 82 million Swiss francs. Of the 82 million francs, 70 million francs were booked against its credit portfolio after Oct. 31, 2023, without identifying the loans in question.

Persons: Julius Baer, Arnd, Philipp Rickenbacher, Andreas Venditti, Noele Illien, Rachel More, Kim Coghill Organizations: REUTERS, Rights, Thomson Locations: Zurich, Switzerland, Swiss

View of the construction site of the Elbtower building, owned by Rene Benko’s Signa and a Commerzbank subsidiary, in Hamburg Germany, November 2, 2023. On Friday, Signa Real Estate Management filed for insolvency in a local court in Berlin, according to a court filing. The real estate sector was a bedrock of Germany's economy for years, accounting for roughly a fifth of output and one in 10 jobs. Now a sharp rise in rates has put an end to the run, tipping some developers into insolvency as deals freeze and prices fall. Weakness in commercial real estate in the United States as offices remain empty after the pandemic and the struggles of major property developers in China have focused global attention on the sector.

Persons: Rene Benko’s Signa, Fabian Bimmer, Signa, Elliott, Rene Benko, Switzerland's Julius Baer, Hannes Moesenbacher, Matthias Inverardi, John O'Donnell, Miranda Murray, Sharon Singleton, Mark Potter Organizations: REUTERS, Rights, Elliott Investment Management, Chrysler, Estate Management, Austria's Raiffeisen Bank, Thomson Locations: Hamburg Germany, Austrian, Germany, Austria, Switzerland, Sweden, Berlin, Bavaria, Hesse, Hamburg, Europe's, United States, China

☆ Amazon’s shipping splurge delivers payoff
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +2 min

A worker sorts products during Cyber Monday operations at the Amazon's fulfillment center in Robbinsville, New Jersey, U.S., November 27, 2023. In 2016, before its in-house logistics initiative took off, global shipping costs tallied about $16 billion, with customers covering about half. Last year, the total expense was about five times higher. Moreover, higher turnover means higher profit, especially from ancillary services such as advertising. And that’s before the generally lucrative holiday season, which should bring Amazon shareholders some more upbeat shipping news.

Persons: Robert Cyran, Julius Baer’s, Warren Buffett, Jeffrey Goldfarb, Sharon Lam Organizations: Reuters, UPS, FedEx, Wall Street Journal, Services, Shipping, Amazon, X, Thomson Locations: Robbinsville , New Jersey, U.S, America, China

☆ Julius Baer lowers profit expectations as credit provisions rise
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +2 min

The logo of Swiss private bank Julius Baer is seen at their headquarters in Zurich, Switzerland February 2, 2022. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsZURICH, Nov 20 (Reuters) - Julius Baer (BAER.S) on Monday dampened profit expectations after it booked valuation adjustments of 82 million Swiss francs ($92.6 million). The Swiss bank said that of the 82 million francs in valuation adjustments, 70 million francs were booked against the group's credit portfolio after Oct. 31, 2023. Analysts at Zuercher Kantonalbank had expected 15 billion francs, with Baer having already reported inflows of 7 billion francs for the first half of 2023. Assets under management rose 3% to 435 billion francs during the period, driven mainly by inflows and the strength of the global equity market.

Persons: Julius Baer, Arnd, Baer, Rene Benko, Andreas Venditti, Zuercher Kantonalbank, Noele, Miranda Murray, Christopher Cushing, David Goodman Organizations: REUTERS, Rights, Signa, Reuters, Analysts, Thomson Locations: Zurich, Switzerland, Swiss, Zuercher

Based on International Monetary Fund data on comparative international investment positions through the early part of this year, U.S. portfolio investment overseas - equity, fund shares and debt securities - stood at more than $14.5 trillion. US funds shy of overseas equityUS economic growth roaring at more than 5%US expensive for a reason? The upshot could be an ever wider U.S. deficit on its net international investment position - potentially lifting the dollar as that inflates, but leaving it vulnerable to the yawning gap and foreign investor sentiment down the road. IMF chart on US net international investment deficitUS stocks lead the packThe opinions expressed here are those of the author, a columnist for ReutersEditing by Josie KaoOur Standards: The Thomson Reuters Trust Principles. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Brendan McDermid, that's, it's, Julius Baer's, Yves Bonzon, Josie Kao Organizations: New York Stock Exchange, REUTERS, Atlanta Federal, Monetary, ICI, Thomson, Reuters Locations: New York City, U.S, China, Gaza, Russia, Ukraine, Moscow, Washington, Taiwan, United States, Swiss, Switzerland, Germany

☆ What could break under higher-for-longer interest rates?
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: +5 min

Yet, the strain from interest rate hikes has just started to come through and with central banks signalling that rates will likely stay higher for longer, the notion of something "breaking" remains strong. Reuters Graphics Reuters Graphics1/ PROPERTY PAINNowhere is the impact of higher rates being felt more acutely than in real estate, still reeling from COVID-19. "We have many zombie companies in the United States and Europe from the low interest rates era, and I cannot imagine how they can survive now with high interest rates." Still, big question marks remain over their future, not least from a global property rout. Miller noted that European banks are also vulnerable given their bigger size relative to the economy that leaves them more exposed to risks from various pockets.

Persons: Jonathan Ernst, Heimstaden, Markus Allenspach, Julius Baer, Guy Miller, Miller Organizations: . Federal, REUTERS, Reuters Graphics Reuters, SBB, China Evergrande, HK, Federal, European Central Bank, Zurich Insurance, The Bank of Japan, Capital, Thomson Locations: Washington, Sweden, Europe, Stockholm, Berlin, CHINA, China, United States, Big U.S

☆ Gold steadies as investors brace for key cenbank verdicts
▼ + stars: | 2023-09-18 | by ( Brijesh Patel | ) www.reuters.com time to read: +2 min

Spot gold was flat at $1,923.40 per ounce by 09:59 a.m. EDT (1359 GMT). Non-yielding gold tends to fall out of favour among investors when interest rates rise. [USD/Chinese gold prices hit record highs last week, extending a months-long rally as consumers snap up the safe-haven asset to offset a depreciating yuan. "While the developments in China are worth watching, we currently do not believe that this will change the outlook for the gold market," said Julius Baer analyst Carsten Menke. Reporting by Brijesh Patel and Anjana Anil in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Edward Moya, CME's, Kazuo Ueda, Julius Baer, Carsten Menke, Brijesh Patel, Anjana Anil, Krishna Chandra Organizations: Wednesday, U.S . Federal Reserve, The Bank of, U.S, Treasury, Thomson Locations: requisitions, The Bank of England, China, Bengaluru

☆ Higher rates are earnings accretive for the S&P, Julius Baer says
▼ + stars: | 2023-09-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHigher rates are earnings accretive for the S&P, Julius Baer saysMark Matthews, managing director at Julius Baer, says "that sounds counterintuitive, but the average debt maturity of the large-caps is around seven years, so it's going to take a long time for these interest rates to start hurting them."

Persons: Julius Baer, Mark Matthews

The logo of Swiss private bank Julius Baer is seen at their headquarters in Zurich, Switzerland February 2, 2022. "The strength of the Swiss banks, of the Swiss economy, of the Swiss political system ... I think this is the foundation to be the preeminent number one financial place for cross border wealth management," he told the event. "Everyone is and wants to be in wealth management and everyone sticks to it, even those players who are not as efficient, not as effective as others." He declined to comment on speculation linking Julius Baer with Swiss bank EFG International (EFGN.S).

Persons: Julius Baer, Arnd, Julius Baer's, Philipp Rickenbacher, Rickenbacher, Noele Illien, John Revill, Tomasz Janowski Organizations: REUTERS, Rights, Reuters, UBS, Credit Suisse, Swiss, EFG, Thomson Locations: Zurich, Switzerland, Swiss, United States

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