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☆ Explainer-How the West Might Use Russia's Frozen Reserves
▼ + stars: | 2024-03-12 | by ( March | At P.M. | ) www.usnews.com time to read: +5 min

Here are some of the ideas that have been suggested:CONFISCATIONSome international policymakers and lawyers say the immobilised Russian reserves can simply be confiscated under a doctrine of international law known as "countermeasures". Some in the bloc are still wary, though, and the European Central Bank has warned that claiming the trapped Russian assets should only be done in tandem with G7 powers. The bondholders would not have a contractual claim on the Kremlin’s frozen reserves. Ukraine would have a plausible way to collect on any damages awarded up to the value of the reserves. If Moscow refused to pay the damages, the allies could then use Russia’s frozen assets to pay off the loan.

Persons: Marc Jones, Lee Buchheit, Daleep Singh, Mark Heinrich Organizations: Marc Jones LONDON, Emergency Economic, U.S, European Central Bank Locations: Ukraine, Russia, Kuwait, United States, EU, Russian, Brussels, Belgium, U.S, Britain, China, Hong Kong, Dubai, Moscow

☆ Yen gains as bets firm for imminent rate hike; sterling slides
▼ + stars: | 2024-03-11 | by ( ) www.cnbc.com time to read: +3 min

In this photo illustration, the man is holding several U.S. dollar bills with some Chinese yuan in the background. Sterling pulled back sharply from a multi-month high, following its best week since November of 2022, amid bets the Bank of England will be slower to cut rates than the Fed or European Central Bank. The greenback eased 0.17% to 146.82 yen , heading back toward the five-week low of 146.48 reached on Friday. The next Fed meeting runs March 19-20. The ECB left rates at record highs last Thursday while cautiously laying the ground to lower them later this year.

Persons: Sterling, Jerome Powell's, bitcoin Organizations: Bank of Japan, Federal Reserve, Bank of England, European Central Bank, Westpac, Fed, ECB

☆ Dollar ends week under pressure as data keeps rate cut hopes alive
▼ + stars: | 2024-03-08 | by ( ) www.cnbc.com time to read: +4 min

The unemployment rate rose to 3.9% in February after holding at 3.7% for three straight months, the data showed. The euro got a lift this week as the dollar came under pressure after Federal Reserve Chair Jerome Powell sounded more confident about cutting interest rates in coming months. Currencies typically weaken if central banks lower interest rates. Against the yen, the dollar was 0.68% lower at 147.05 yen, its weakest since Feb. 2. Firming hopes that interest rates in the U.S. and Europe will start to fall in June also helped prop up the risk-sensitive Australian and New Zealand dollars.

Persons: Jerome Powell, Stuart Cole, Cole, Powell, Lindsey Bell, Kathleen Brooks, Sterling, BoE, Firming, bitcoin Organizations: Federal Reserve, Bureau of Labor Statistics, Equiti, ECB, Federal, Ventures, Bank of, Reuters, European Central Bank, U.S . Federal, Bank of England, New Locations: Japan, Charlotte , North Carolina, Bank of Japan, U.S, Europe, New Zealand

☆ European stocks close mixed as investors assess U.S. jobs data, ECB signals
▼ + stars: | 2024-03-08 | by ( Karen Gilchrist | ) www.cnbc.com time to read: 1 min

European markets closed mixed Friday, with investors digesting the European Central Bank's updated inflation forecast and new U.S. jobs data. The Stoxx 600 index provisionally closed 0.03% higher, with sectors and major bourses trading in mixed territory. German industrial output rose 1% in January, more than the 0.5% expected, new data showed Friday. Construction and manufacturing output also rose 2.7% and 1.1%, respectively. Revised euro zone statistics showed gross domestic product remained steady in the fourth quarter on 2024.

Persons: Europai Organizations: Royal London Group

☆ European Central Bank hints at June rate cut as it trims inflation forecast
▼ + stars: | 2024-03-07 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

The European Central Bank on Thursday lowered its annual inflation forecast, as its confirmed a widely expected hold of interest rates. ECB President Christine Lagarde, meanwhile, suggested market pricing for a June rate cut was coming into line with policymakers' outlook. Looking ahead, staff see inflation hitting the ECB's 2% target in 2025 and cooling further to 1.9% in 2026. They meanwhile updated their forecast for economic growth for 2024 to 0.6% from 0.8%, as the euro zone's economic activity escapes its current stagnation. The ECB will be "laser-focused" on two areas of inflation that could surprise, namely wage growth and profit margins, Lagarde said.

Persons: Christine Lagarde, Lagarde Organizations: European Central Bank, ECB

☆ Fatal Houthi rebel attack may be a ‘red line’ in Red Sea shipping crisis
▼ + stars: | 2024-03-07 | by ( Hanna Ziady | ) edition.cnn.com time to read: +6 min

The deadly strike marks a significant escalation of the Houthi attacks on ships in the Red Sea and and comes despite a US-led naval coalition to protect the crucial waterway. Fewer ships appear to be transiting through the Red Sea and adjoining Suez Canal after the latest attack, according to maritime risks analytics company Windward. According to Windward, the number of bulk carriers anchoring outside ports to the north and south of the Suez Canal surged 225% Wednesday compared with the previous day. Windward data shows that last month the number of bulk carriers in the Red Sea was already at its lowest level in two years. Just 30% of the usual shipping capacity — including container ships, bulk carriers, car carriers, and tankers carrying oil and liquefied natural gas — is still passing through the Red Sea and Suez Canal, according to Sand.

Persons: Ami Daniel, ”, Peter Sand, “, Hapag Lloyd —, Christine Lagarde, CMA CGM, Stephen Cotton, Cotton, David Ashmore, Reed Smith, John Stawpert, ” Maisie Linford Organizations: London CNN, Liberian, ” Windward, CNN, Maersk, MSC, European Central Bank, Drewry, CMA, International Transport Workers ’ Federation, International Chamber of Shipping Locations: Red Sea, Iran, Suez, Africa, Windward, Red, Norway, Sand, “, London, Good, Gulf, Aden and Red, Aden

☆ Treasury yields little changed as investors fret over interest rate outlook
▼ + stars: | 2024-03-07 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury yield was up by just over one basis point to 4.1156%, The 2-year Treasury yield was last down by less than one basis point to 4.5555%. U.S. Treasury yields held steady on Thursday as investors considered the outlook for interest rates after fresh comments from Federal Reserve Chairman Jerome Powell. Powell on Wednesday reiterated that the central bank would be cautious and consider the risks when it comes to interest rate cuts. "The Committee does not expect that it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward 2 percent." Elsewhere, the European Central Bank is due to announce its latest interest rate decision on Thursday.

Persons: Jerome Powell, Powell Organizations: U.S, Treasury, Federal, Financial Services Committee, Fed, Committee, Investors, European Central Bank

☆ Markets could be about to get a big clue on when the European Central Bank will cut rates
▼ + stars: | 2024-03-06 | by ( Annette Weisbach | ) www.cnbc.com time to read: +1 min

European Central Bank (ECB) President Christine Lagarde speaks as she presents the bank's 2022 Annual Report to the European Parliament, in Strasbourg, eastern France, on February 26, 2024. FRANKFURT — The European Central Bank will meet again this week amid falling inflation, a slight recovery in economic activity and the overall understanding that its next interest rate move will be downward. The only question really for markets is, when will that happen? Some months ago, the markets were convinced that the March meeting will be "the one." The recent consumer price readings showed a slowdown of headline inflation to 2.6% in February, but service prices still rose by 3.9% for the month.

Persons: Christine Lagarde, Dirk Schumacher Organizations: European Central Bank, ECB Locations: Strasbourg, France, FRANKFURT

☆ Dollar steady ahead of Powell testimony, bitcoin takes breather
▼ + stars: | 2024-03-06 | by ( ) www.cnbc.com time to read: +3 min

The U.S. dollar was largely steady on Wednesday, as traders avoided making large bets ahead of congressional testimony from Federal Reserve Chair Jerome Powell, as well as the European Central Bank's, or ECB, rate decision and U.S. jobs data later this week. In cryptocurrencies, bitcoin was slightly up but stayed below a record high reached in a volatile overnight session. Powell is expected to reinforce that the Fed will wait for more data before making any rate cuts. Elsewhere, the ECB is widely expected to leave interest rates at a record 4% at its policy meeting on Thursday. Markets are also keeping a close eye on the world's largest cryptocurrency, bitcoin , after it surged to a record high overnight before retreating sharply.

Persons: Jerome Powell, bitcoin, Powell's, Powell, Carol Kong, Sterling Organizations: U.S, Federal, European Central Bank, Institute for Supply Management, Traders, Commonwealth Bank of Australia, ECB Locations: U.S

☆ Dollar a spectator to China news, yen ponders rate risks
▼ + stars: | 2024-03-05 | by ( ) www.cnbc.com time to read: +3 min

There was more action in bitcoin , which gained 1.2% to $68,341 after surging more than 7% on Monday. The Japanese yen held steady after data showed Tokyo core inflation sped up to 2.5% in February, from 1.8% the previous month. "Accordingly, we're sticking to our forecast that the Bank of Japan will hike interest rates into positive territory next month." The dollar was a fraction lower at 150.44 yen , having again shied away from resistance around 150.85, which has capped the currency for more than three months now. The European Central Bank, or ECB, holds a meeting on Thursday and markets are convinced it will keep rates at 4.0%.

Persons: Marcel Thieliant, Jerome Powell, Sterling, Jeremy Hunt Organizations: People's Congress, Bank of Japan's, Capital Economics, Bank of, Federal Reserve, European Central Bank, ECB, Westpac, . Finance Locations: China, Tokyo, Japan, bitcoin, United States, Beijing, Asia, Bank of Japan

☆ European markets head for negative open as sentiment struggles ahead of ECB meeting
▼ + stars: | 2024-03-05 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

European stocks are heading for a lower open as markets struggle to find positive momentum ahead of the European Central Bank meeting later this week. The ECB is expected to hold interest rates steady on Thursday even as inflation shows more signs of easing. Asia-Pacific markets are mixed as China's "Two Sessions" meeting got under way, with investors watching out for the details of its economic plans after the country projected a gross domestic product growth target of "around 5%" for 2024. The country is set to boost its defense spending by 7.2% in 2024. U.S. stock futures ticked lower Monday night after the Nasdaq Composite retreated from its record high.

Organizations: European Central Bank, ECB, Nasdaq Locations: Asia, Pacific

☆ Dollar eases as Fed clues awaited; bitcoin hits 2-year high
▼ + stars: | 2024-03-04 | by ( ) www.cnbc.com time to read: +3 min

U.S. one hundred dollar bills are being shown in this picture illustration taken in Buenos Aires, Argentina, on Dec. 15, 2023. The U.S. dollar drifted weaker on Monday, pressured by lower Treasury yields, as traders waited for more crucial economic data for fresh clues on the timing of Federal Reserve interest rate cuts. The U.S. dollar drifted weaker on Monday, pressured by lower Treasury yields, as traders waited for more crucial economic data for fresh clues on the timing of Federal Reserve interest rate cuts. The euro was firm following Friday's 0.33% advance, with a European Central Bank, or ECB, policy decision looming on Thursday. That also weighed on Treasury yields, removing additional support for the dollar, with the benchmark 10-year yield sliding as low as 4.178% for the first time in two weeks.

Persons: Bias, Jerome Powell's, Kazuo Ueda, Hajime Takata, Christine Lagarde's, Bitcoin Organizations: U.S, European Central Bank, Bank of, Treasury, Congress, Westpac, ECB Locations: Buenos Aires, Argentina

☆ A bigger pool of American workers could continue to slow inflation even further
▼ + stars: | 2024-03-03 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Now, as the Federal Reserve faces the final stretch of its historic inflation battle, a bigger pool of workers could slow inflation even further. That then begs the question: How much more can better labor supply slow inflation? The US Labor Department releases January figures on job openings, quits, hires and layoffs. The US Labor Department reports the number of new applications for jobless benefits in the week ended March 2. China’s National Bureau of Statistics releases February inflation data.

Persons: Mary Daly, “, ” Sarah House, Michael Gapen, That’s, Jack Bantock, ’, ”, Richard Felton, Thomas, ’ ”, Patrick Harker, Ross, Nordstrom, Michael Barr, Campbell Soup, Foot, Jerome Powell, Loretta Mester Organizations: DC CNN, Federal Reserve, San Francisco Fed, National Association for Business Economics, Labor, CNN, Bank of America, White House’s Council, Economic Advisers, English Premier League, Chelsea, Burnley, Philadelphia Fed, Target, P Global, Institute for Supply Management, US Commerce Department, Abercrombie, Fitch, Financial Services, The Bank of Canada, US Labor Department, Broadcom, Costco, Eagle Outfitters, Potbelly, Banking, Housing, Urban Affairs, European Central Bank, Cleveland Fed, National Bureau of Statistics Locations: Washington, San, Wells, United States, London, JD.com, Kroger, Burlington, DocuSign

☆ Europe is having its worst earnings season since the onset of Covid — with little hope of a quick turnaround
▼ + stars: | 2024-03-01 | by ( Silvia Amaro | ) www.cnbc.com time to read: +4 min

As of Feb. 29 with 313 companies having reported, 50.2% posted a beat, according to a CNBC analysis of FactSet data. This was the smallest percentage of beats — thus the worst earnings season — since the first quarter of 2020 when the pandemic first hit European firms. Share buyback bonanzaSharon Bell, a senior European strategist at Goldman Sachs, told CNBC that she had noticed a new trend for European corporates during this earnings season. "What you have seen is a lot of companies announcing buybacks," she told CNBC's "Squawk Box Europe" Tuesday. "It is absolutely huge, you've never really seen this before in 20, 30 years, European companies pay dividends, they don't do buybacks," she said.

Persons: —, Edward Stanford, Philippe Ferreira, Kepler Cheuvreux, Sharon Bell, Goldman Sachs, CNBC's, you've, Bell, Ferreira Organizations: CNBC, HSBC, L'Oreal, European Central Bank, Shell, Deutsche Bank, Novo Nordisk, UBS Locations: Triomphe, France, Europe, China, Ukraine, European

☆ Euro zone inflation cools less than expected to 2.6% in February
▼ + stars: | 2024-03-01 | by ( Jenni Reid | ) www.cnbc.com time to read: 1 min

A salesman preparing a bag of sweets for a customer in the Sicilian confectionery shop Mazzone on February 02, 2024 in Catania, Italy. Inflation in the 20-nation euro zone eased to 2.6% in February, flash figures showed on Friday. The headline print previously came in at 2.8% in January, with further easing expected after price rises cooled in Germany, France and Spain. Investors are hunting for clues on when the European Central Bank will start to bring down interest rates, with market pricing pointing to a June cut. Yet many ECB officials still stress that they need spring wage negotiations to conclude before they have a clearer picture of domestic inflationary pressures.

Organizations: Reuters, European Central Bank Locations: Catania, Italy, Germany, France, Spain

☆ European markets set for gains ahead of euro zone inflation data
▼ + stars: | 2024-03-01 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

A TV presenter gets ready for the daily reporting from the floor of the German share price index DAX at the stock exchange in Frankfurt, Germany, November 15, 2023. LONDON — European markets are set to open higher on Friday to start the new trading month after a winning February, with euro zone inflation data due mid-morning. The European stock index notched an all-time high last month, powered by the 11 GRANOLAS large-cap stocks that made up half of the gains across the entire Stoxx 600. Focus will turn Friday to February's flash euro zone inflation reading, expected at 10 a.m. London time, with economists in a Reuters poll predicting the consumer price index rose 2.5% year on year, down from 2.8% in January. German consumer price inflation on Thursday came in line with forecasts at 2.7% year on year.

Persons: DAX Organizations: LONDON, GSK, Roche, ASML, Nestle, Novartis, Novo Nordisk, L'Oreal, LVMH, AstraZeneca, SAP, Sanofi, Focus, European Central Bank, ECB, Fed Locations: Frankfurt, Germany, London

☆ Britain to lead 2024 European real estate boom as international buyers eye opportunities, research says
▼ + stars: | 2024-03-01 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +3 min

Richard Newstead | Moment | Getty ImagesThe U.K. looks poised to lead a European real estate resurgence this year as international investors return capital to the region's strained property market. U.S., Israeli, Japanese and Taiwanese investors are set to lead that charge, spearheading a 20% rebound in real estate investment activity in 2024 as they pump cash into Britain, Germany, Spain and the Netherlands, according to the research. European real estate revivalBritain ranked as the top European destination for cross-border investment in CBRE's 2024 European Investor Intentions Survey, with investors pointing to its discounted rates and high return potential. Busà Photography | Moment | Getty ImagesIt follows a tough year for real estate in 2023, as higher interest rates pushed up borrowing costs and weighed on investor sentiment. Global cross-border real estate investment totalled 196.3 billion euros ($212.9 billion) over the year, down 40% on the five-year average, according to Real Capital Analytics data cited by Savills.

Persons: Richard Newstead, Rasheed Hassan, Savills, Chris Brett, Knight Frank Organizations: CNBC, European Central Bank, Bank of England Locations: Kings Cross, London, European, Britain, Germany, Spain, Netherlands, Poland, Paris, Madrid, Amsterdam, Berlin, Europe, East, Africa, Americas, Asia Pacific, France

☆ The whole world is reaching all-time highs. Here’s what’s driving it
▼ + stars: | 2024-02-27 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +8 min

On the surface, it may seem simple — global stocks are rallying, so there must be one universal driver, right? When this happens, the yen should strengthen and improve shareholder value in Japanese stocks, Arone said. "All of that gives you the ingredients you need to push stocks higher — not only U.S. stocks, but global stocks — in the next 12 months or so," he said. "I think that international stocks — Japan, Europe — have more room to go. Similar to Kelly, Kleintop recommended a more broad-based approach to playing this global rally.

Persons: It's, Charles Schwab's, Jeffrey Kleintop, they've, David Kelly, Michael Arone, Kelly, Arone, —, Kleintop, Fred Imbert Organizations: U.S, Dow Jones, Nasdaq, Nikkei, CNBC, Nvidia, Asset Management, Federal Reserve, European Central Bank and Bank of England, Bank of Japan, Tokyo Stock Exchange, State, — Locations: United States, U.S, Europe, Japan, Korea, China, Asia, America, Eastern Europe, — Japan

☆ Americans have racked up a trillion dollars in credit card debt. That’s actually okay
▼ + stars: | 2024-02-25 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

Washington, DC CNN —Americans racked up a record amount of credit card debt in 2023, soaring past a trillion dollars. “Consumers still have a lot of money left over to be able to spend, so the credit card data is often misinterpreted,” Russell Price, chief economist at Ameriprise Financial, told CNN. According to a LendingTree analysis of more than 350,000 credit reports, the average unpaid credit card balance was $6,864 in the fourth quarter. Overall, US household debt (including credit card balances) rose to a new high of $17.5 trillion in the fourth quarter, up 1.2% from the prior three-month period. So, while there certainly isn’t a shortage of economic hurdles bedeviling people’s budget — and credit card debt has surged — the big picture indicates that, so far, Americans (and their economy) remain healthy.

Persons: ” Russell Price, Price, haven’t, market’s, ” Gregory Daco, ” Lara Rhame, Laura, Jensen Huang, Christine Lagarde, Virgin, Michael Barr, Raphael Bostic, Susan Collins, John Williams, Papa, Austan Goolsbee, Loretta Mester, fuboTV, Christopher Waller, Mary Daly, Adriana Kugler Organizations: CNN Business, Bell, DC CNN, Workers, New York Fed, Consumers, Ameriprise, CNN, Federal Reserve Bank of New, . New York Fed, Employers, Soaring, FS Investments, Nvidia, Huawei, AMD, Microsoft, Broadcom, US Commerce Department, Central Bank, eBay, Smucker, Urban Outfitters, Global, Board, TJX, Monster Beverage, Baidu, HP, Paramount Global, Anheuser, Busch Inbev, Dell Technologies, Papa John’s, US Labor Department, National Association of Realtors, P, China’s National Bureau, Statistics, Pearson, P Global, Institute for Supply Management, University of Michigan Locations: Washington, Federal Reserve Bank of New York, ., EY, Santa Clara, Singapore, Shenzhen, China, Beijing, CAVA

☆ Yen sinks as currency traders keep short and carry on
▼ + stars: | 2024-02-23 | by ( ) www.cnbc.com time to read: +3 min

The yen is the worst-performing G10 currency this year, with a 6.4% slide on the dollar. For the week the yen is down 0.6% on the euro, touching its weakest for three months overnight at 163.45 per euro . Yen moves against the dollar were more modest due to the risk its slide could prompt intervention in markets from Japan, with officials reminding traders they stand ready in recent days. The dollar gained 0.1% to trade at 150.41 yen this week. Investors can earn interest, or carry, by borrowing yen around 0% and buying income-bearing assets in other currencies.

Persons: Moh Siong Sim, Sterling, Christine Lagarde, Christopher Waller Organizations: New, Deutsche, Britain, of Singapore, U.S, European Central Bank Locations: Japan, New Zealand, Friday's Asia, U.S, Europe

☆ Dealmaking is showing signs of life, but it comes with some downsides
▼ + stars: | 2024-02-22 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, we're looking at why M&A could be staging a comeback and which bankers made the most of 2023 . The big storyDealmaker's delighttatomm/iStock, Tyler Le/BIThree monster deals announced in less than a week has Wall Street wondering: Is M&A back? But after a dreadful 2022 and 2023, dealmaking is showing signs of life, Business Insider's Theron Mohamed writes. Capital One, Truist, and Walmart announced acquisitions totaling $53 billion this week, leaving bankers hopeful the good times (and fees) are back. Deals represent an exit opportunity for companies, giving their investors (some of whom are employees) a chance to cash out.

Persons: Tyler Le, Theron Mohamed, Biden, Alex Morrell, Reed Alexander, Alyssa Powell, Emily Stewart, Wall, it's, M, Getty, Jenny Chang, Rodriguez, Jensen Huang, Goldman Sachs, Carlos Delgado, Associated Press Rivian, Rivian, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Business, Federal Reserve, Walmart, Activision Blizzard, ExxonMobil, Cisco, Acquisitions, Activision, Wall Street, Big Tech, Nvidia, ING, Microsoft, Associated Press, BI, Google, Walgreens, Sunshine State, CVS, Intuit, Nestle, Square Locations: Europe, Florida, VillageMD, New York, London

☆ There is uneven recovery across different sectors and member states of euro zone economy: economist
▼ + stars: | 2024-02-22 | 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 EmailThere is uneven recovery across different sectors and member states of euro zone economy: economistChris Williamson, chief business economist at S&P Global Market Intelligence, discusses the latest euro zone flash PMI data and explains how it will impact the European Central Bank's next interest rate decision.

Persons: Chris Williamson Organizations: P Global Market Intelligence, Central Bank's

☆ European Central Bank posts first annual loss in two decades
▼ + stars: | 2024-02-22 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Rain falls over the finance district and the European Central Bank (ECB) in Frankfurt, Germany. The European Central Bank on Thursday reported its first annual loss since 2004, following hefty payouts due to higher interest rates. The central bank said it will carry forward the loss on its balance sheet to offset against future profits. The central bank began quantitative tightening in March 2023. There is no institution in the economy which can cope with a temporary loss better than the central bank," he told CNBC by email.

Persons: Germany's Bundesbank, Holger Schmieding Organizations: European Central Bank, ECB, Swiss National Bank, CNBC Locations: Frankfurt, Germany, Ukraine

☆ An under-the-radar recession indicator in the bond market is sounding the alarm for a hard landing
▼ + stars: | 2024-02-21 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

An under-the-radar recession indicator in the bond market is raising alarm that the economy could be heading for a hard landing, according to ING Economics. Strategists at the analytics firm pointed to a tight correlation between US Treasury yields and Bund yields in Europe, with both yields slipping in recent weeks as markets reprice their interest rate expectations over the short-run. That was the case in the Silicon Valley Bank crisis in early 2023, when a sell-off fueled by the collapse of SVB led Treasury yields and Bund yields to tumble in tandem. "The correlation between UST and Bund yields is significantly elevated, which usually points to a hard-landing narrative," strategists said in a note on Wednesday. New York Fed economists, meanwhile, are pricing in a 61% chance the economy could tip into recession by January of next year.

Persons: SVB Organizations: ING Economics, Treasury, Business, European Central Bank, ING, Bank, UST, Bund, ECB, New York Fed Locations: Europe, Silicon

☆ Commercial real estate is in big trouble — and the problems may have major financial fallout
▼ + stars: | 2024-02-16 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +7 min

Read previewThe tremors rattling US commercial real estate are spreading to other countries and sectors, and threaten to escalate into a financial earthquake as refinancing deadlines loom. There are growing signs that commercial real estate is in serious trouble. AdvertisementProspective losses, refinancing woes, international contagion, and panic selling combine to create a bleak outlook for the commercial property sector. The catalyst for both the banking and commercial real estate drama is deceptively dry: rising interest rates. AdvertisementMoreover, "Undercover Billionaire" star and real estate tycoon Grant Cardone has hailed the ongoing correction as a rare chance for everyday people to buy "trophy real estate" from institutional owners.

Persons: —, aren't, Barry Sternlicht, Pfandbriefbank, Warren Buffett, Ian Jacobs, Jacobs, Grant Cardone Organizations: Service, Business, Starwood Capital's, Bloomberg, European Central Bank, New York Community Bancorp, Investors, Silicon Valley Bank, Federal Reserve, Wall Street, Berkshire Hathaway, Ares Management Locations: Europe, Silicon, San Francisco, New York City, Manhattan, Los Angeles

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