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☆ Big government will drive the next market cycle
▼ + stars: | 2023-10-31 | by ( Francesco Guerrera | ) www.reuters.com time to read: +8 min

Growth picked up while quiescent inflation permitted interest rates to fall. Bereft of government support, central banks tried to stimulate their economies by pushing interest rates to new lows. That means interest rates will struggle to return to the ultra-low levels seen after 2008. The first takeaway is that higher debt levels, inflation and interest rates should be bad for bonds. Vincent Deluard of StoneX has proposed a division between intangible and tangible companies.

Persons: Kevin Lamarque, ” Ronald Reagan’s, Milton Friedman –, Britain’s Margaret Thatcher –, Reaganomics ”, Réka Juhász, Nathan J, Lane, Dani Rodrik, government’s, Vincent Deluard, StoneX, Lockheed Martin, Peter Thal Larsen, Oliver Taslic, Thomas Shum Organizations: Republicans, Capitol, REUTERS, Reuters, Bank, Asset, Monetary Fund, Treasury, Capital Economics, Reuters Graphics Reuters Graphics, Capital, Facebook, Meta, Lockheed, Micron Technology, U.S, Congress, Nasdaq, Energy, Exxon Mobil, Labour Party, Thomson Locations: Washington , U.S, “, Ukraine, Covid, Europe, United States, United Kingdom, Germany, Japan

Signage is seen outside of the US Commodity Futures Trading Commission (CFTC) in Washington, D.C., U.S., August 30, 2020. A centralized registry would also make it easier for the government to identify repeat offenders and deter potential fraudsters, Goldsmith Romero said. Goldsmith Romero had suggested the registry several years ago while serving as the watchdog of a key 2009 financial crisis bailout program. In Goldsmith Romero's previous role, the government watchdog did launch a database of such financial crimes related to the Troubled Asset Relief Program. Such a centralized database could serve as a model for a larger, national registry that federal regulators could organize and that state regulators could also participate in.

Persons: Andrew Kelly, Christy Goldsmith Romero, Goldsmith Romero, Goldsmith Romero's, Chris Prentice, Leslie Adler Organizations: US, Futures Trading Commission, Washington , D.C, REUTERS, fraudsters, CFTC, Reuters, Troubled Asset, Thomson Locations: Washington ,, U.S

REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsZURICH, Aug 24 (Reuters) - GAM (GAMH.S) has entered into discussions with French billionaire Xavier Niel's NewGAMe shareholder group after a takeover offer from Britain's Liontrust failed to gain the required level of support. "The GAM Board acknowledges that the majority of our shareholders have not found the Liontrust Offer compelling. GAM shares fell 5.08% shortly after market open, whereas Liontrust recorded a 10.37% gain. Liontrust had made its offer conditional on winning the backing of two-thirds of GAM's shareholders in a prospectus it published in June. The investor group, led by Niel's NewGAMe and asset manager Bruellan, have vehemently opposed the all-share offer, saying in July that it "grossly undervalues GAM".

Persons: Arnd, Xavier Niel's, Britain's Liontrust, Liontrust, GAM's, David Jacob, Niel's NewGAMe, Bruellan, Brenna Hughes, Friederike Heine, Jason Neely, Christina Fincher Organizations: REUTERS, Rights, GAM, Thomson Locations: Zurich, Switzerland, British, Liontrust

☆ Regional banks slide after Fed's Kashkari advocates 'significantly further' capital regulation
▼ + stars: | 2023-08-15 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Neel Kashkari, President and CEO of the Federal Reserve Bank of Minneapolis, speaks during an interview with Reuters in New York City, New York, May 22, 2023. Minneapolis Federal Reserve President Neel Kashkari favors getting tougher on regional banks, following a crisis earlier this year that he said may not be over. Regional bank shares fell as Kashkari spoke. Those banks holding longer-dated Treasurys faced capital losses as rates went up and bond prices fell. Should the Fed have to keep raising rates, that could affect banks in the same situation.

Persons: Neel Kashkari, Kashkari, Treasurys Organizations: Federal Reserve Bank of Minneapolis, Reuters, Minneapolis Federal, Regional Banking, Troubled Asset Relief, Bank Locations: New York City , New York, Minneapolis

☆ 'Potential minefield': Value investor Guy Spier talks U.S. bank risks, reveals his top stock to own
▼ + stars: | 2023-08-11 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

Renowned value investor Guy Spier has said U.S. regional banks are a "potential minefield" in the current market environment. Moody's left the larger banks' ratings unchanged. Consolidation risks Spier explained that his view stems from the fact that the U.S. banking system remains highly fragmented, with around 12,000 banks nationwide. While not a "massive advantage," Spier believes larger money center banks like Bank of America have a slight edge in profitability over regional banks. Technology threat Aside from the risks highlighted by Moody's, Spier suggested that technology and innovation also pose major threats to regional banks.

Persons: Guy Spier, Spier, Warren Buffett, CNBC's, Moody's, he's Organizations: Bank of America, Spier . Technology, of America, Federal Reserve, U.S, JPMorgan, Citi, Asset Relief, CNBC Locations: Spier, U.S, Bank

☆ Ray Dalio just named which major economy presents the biggest investment opportunity
▼ + stars: | 2023-06-24 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

This morning we have stories on Ray Dalio, the topsy-turvy housing market, troubled commercial real estate, and more. Ray Dalio said India presents the next big investment opportunity. Troubled assets in the sector just reached $64 billion, climbing 10% in the first quarter of the year. The housing market suggests that the US economy dodged the recession bullet. According to Carson Group, recent strength in housing starts and building permits indicates that construction groups are confident about demand.

Persons: I'm Phil Rosen, Ray Dalio, topsy, Buckle, Eoin Noonan, it's, There's, Warren Buffett, Melinda Gates, Fundstrat's Tom Lee, Phil Rosen, Jason Ma, Nathan Rennolds Organizations: Getty, Berkshire Hathaway, Melinda Gates Foundation, Carson Group, Manheim, Homeowners, Bank of America Locations: India, China, Russia, Ukraine, New York, Los Angeles, London

☆ 'Close call' on US June rate hike or pause, says Fed's Kashkari-CNBC
▼ + stars: | 2023-05-22 | by ( ) www.reuters.com time to read: +1 min

May 22 (Reuters) - Minneapolis Federal Reserve President Neel Kashkari said on Monday it was a "close call" on whether he would vote to raise interest rates at the central bank's meeting next month or take a pause and leave rates where they are. Speaking on CNBC, Kashkari also said services inflation remains "pretty darn entrenched" and that "it may be that we have to go north of 6%" to get it back to the Fed's 2% target. The Fed raised interest rates for a 10th straight meeting earlier this month, lifting its benchmark overnight rate to a range of 5% to 5.25%. If SVB and the other banks that recently collapsed had "had significantly more equity capital, their depositors would have been reassured because the banks could have absorbed their market-to-market losses," Kashkari wrote. Reporting By Dan Burns; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.

☆ Analysis: Why we may need a stock market plunge to solve the debt ceiling crisis
▼ + stars: | 2023-05-22 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

They know how it ends: with politicians waiting until the last minute before giving in and finally raising the debt ceiling before disaster strikes. On Friday, it looked like the White House and Republicans were getting closer to a deal on the debt ceiling before talks unexpectedly broke down. In 2011, the most serious near-default in American history, markets experienced volatility in the days and weeks before Washington reached a last-minute deal to raise the debt ceiling. None of this is to say markets are completely ignoring the debt ceiling drama today. The debt ceiling is a manufactured crisis that officials could have dealt with months ago.

☆ Jamie Dimon is riding to the rescue again. This time, he's poised to come out on top.
▼ + stars: | 2023-03-31 | by ( Carter Johnson | ) www.businessinsider.com time to read: +15 min

Why, then, has Dimon been so willing to swing back into action in the wake of Silicon Valley Bank's collapse? But it's starting to look like JPMorgan — and Dimon — will end up winners no matter how things turn out. In backstopping First Republic, JPMorgan helps a client and a bank that experts say would fit nicely into its business. By saving First Republic, JPMorgan also stands to gain goodwill from Silicon Valley startups, which are customers of the smaller bank. The paper also reported that regulators asked Dimon, Bank of America, and other banks to buy Silicon Valley Bank and pay out depositors over the insured limit.

☆ Goldman’s new strategy gets baptism of fire
▼ + stars: | 2023-03-15 | by ( Jeffrey Goldfarb | ) www.reuters.com time to read: +4 min

NEW YORK, March 15 (Reuters Breakingviews) - The collapse of Silicon Valley Bank is providing a slightly awkward showcase for Goldman Sachs’ (GS.N) manifold talents. It’s true to the new unified “One Goldman Sachs” strategy expounded by Chief Executive David Solomon, dampened by the client not living to tell the tale. The investment bank Solomon now leads scrambled throughout the financial crisis to help panicked clients shore up their finances. SVB’s financial models had to be revised on the fly and approved by its board as the situation deteriorated. There also was no soothing imprimatur from Buffett, or a rich Silicon Valley grandee such as Larry Ellison, Steve Ballmer or Larry Page.

☆ This banking crisis is different from the 2008-2009 financial crisis in 4 ways, Moody's chief economist Zandi says
▼ + stars: | 2023-03-15 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

There are four differences between the current banking crisis and the GFC, Moody's chief economist says. Zandi's comments adds to views that the current banking crisis is different from the situation in 2008. In a series of tweets on Monday, Mark Zandi, the chief economist at Moody's Analytics, said the current banking crisis is different from the Global Financial Crisis, or GFC, in four key ways. The financial crisis, which sparked the Great Recession, was one of the worst economic downturns in US history. The economic backdrop is different this time aroundZandi also said the economic backdrop right now is very different from that of the Great Financial Crisis.

☆ Inflation: Fed's Neel Kashkari says prices are still too high
▼ + stars: | 2023-02-07 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +4 min

New York CNN —Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, understands that consumers are still struggling to deal with high prices. Kashkari told CNN’s Poppy Harlow Tuesday that he knows first hand how expensive many consumer goods and services are. Job market strength fueling more inflationKashkari acknowledged that inflation pressures are easing, but said the Fed is still not comfortable with how high prices are, particularly for services. He told Harlow he’s penciling in short-term rates as high as 5.4% before pausing. It’s hard to have a recession when the job market is still so robust, he told Harlow.

☆ Inside BlackRock's powerful consulting arm that's made the most influential money manager an advisor to world powers
▼ + stars: | 2021-06-07 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +21 min

One of the reporters noted that Powell's public calendar showed calls with Larry Fink, BlackRock's chief executive, in March, April, and May. The exchange was hardly the first time no-bid contracts between the Fed and BlackRock's Financial Markets Advisory unit raised questions. Still, former employees told Insider that FMA has served as a clear source of public-facing clout for BlackRock. "The FMA clients have extended their advisory relationships to be multiyear." A little over a year ago, FMA pulled employees out of BlackRock's office there, three former employees said.

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