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☆ The stock market incorrectly priced in dovish Fed pivots 6 times in the last few years. Will this 7th time be any different?
▼ + stars: | 2023-11-19 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

But the market wrongly priced in a looser stance at least six times in the last few years, Deutsche Bank wrote. The S&P 500 advanced 3.6% that month as bond yields fell. AdvertisementThe S&P 500 jumped 6.6% in the week ending May 27, its strongest weekly performance of 2022. The S&P 500 surged 5.7% over October 3-4, marking the biggest two-day rally since April 2020. Yields on 2-year Treasurys tumbled, and the S&P 500 jumped 7% from a low in the immediate aftermath of SVB's collapse to the end of the March.

Persons: —, Jerome Powell Organizations: Federal Reserve, Deutsche Bank, Service, Fed, Bank Locations: Ukraine

☆ Optimize Your Savings: Uncover Today's Top CD and Savings Account Rates
▼ + stars: | 2023-11-18 | by ( Business Insider | ) www.businessinsider.com time to read: +8 min

With rates rapidly changing, how can you feel confident that you're getting the best savings account or best CD? High-Yield Savings AccountsThe best high-yield savings accounts provide the security of a savings account with the added bonus of a high APY. A checking account is like a hub for your money: If your paycheck is direct deposited, it's typically to a checking account. A savings account often limits the number of monthly transfers, while a checking account doesn't. 2-Year CDsThe best 2-year CD rates will be slightly lower than 1-year and no-penalty CD rates.

Persons: Banks, —, Cash, we've Organizations: Bank, BMO, Cash, Products, Secure Savings, Mission Valley Bank, Newtek, United States, Federal Credit Union, Technology Credit Locations: —

☆ Boost Your Savings: Explore Today's Premier CD and Savings Account Rates
▼ + stars: | 2023-11-17 | by ( Business Insider | ) www.businessinsider.com time to read: +8 min

☆ US FDIC to consider 'special assessment' for March bank failure losses
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +1 min

The Federal Deposit Insurance Corp (FDIC) logo is seen at the FDIC headquarters in Washington, February 23, 2011. REUTERS/Jason Reed/File Photo Acquire Licensing RightsNov 16 (Reuters) - The U.S. Federal Deposit Insurance Corporation on Thursday was due to consider approving the collection of bank fees to recover losses from the failures of Silicon Valley Bank and Signature Bank in March. The FDIC's board of directors had been due to conduct a public meeting to vote on the matter but the agency announced Thursday morning that board members would instead consider the matter in private. The final version may be different. (This story has been corrected throughout to say that the FDIC plans to vote without holding an open meeting)Reporting by Douglas Gillison; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Jason Reed, Douglas Gillison, Chizu Organizations: Federal Deposit Insurance Corp, REUTERS, U.S, Federal Deposit Insurance Corporation, Valley Bank, Signature Bank, Thomson Locations: Washington

☆ Maximize Your Savings: Discover Today's Highest CD and Savings Account Rates
▼ + stars: | 2023-11-16 | by ( Business Insider | ) www.businessinsider.com time to read: +8 min

Persons: Banks, —, Cash, we've Organizations: Bank, BMO, Cash, Products, Savings, Mission Valley Bank, Newtek, United States, Federal Credit Union, Technology Credit Locations: —

☆ Fitch says US regional bank challenges to persist in 2024
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +2 min

A street sign for Wall Street is seen in the financial district in New York, U.S., November 8, 2021. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNov 15 (Reuters) - Rating agency Fitch said on Wednesday that U.S. regional banks will face continued challenges in 2024, with those lacking scale or focused on commercial loan growth disproportionately pressured. Fitch said that a delay in meaningful loosening of monetary policy would likely translate into "sustained competition for deposits" and "stubbornly weak loan growth." Large regional banks focused on commercial loan growth saw the weakest credit demand, which in some cases reached double digit declines on an annualized basis, Fitch said. In third quarter earnings, a string of regional banks reported pressure on net interest income (NII), the difference between what banks earn from lending and pay out on deposits, which hit some of their shares.

Persons: Brendan McDermid, Fitch, Bill Gross, Pritam Biswas, Megan Davies, Shounak Dasgupta, Jonathan Oatis, Cynthia Osterman Organizations: Wall, REUTERS, Valley Bank, Federal Reserve, Thomson Locations: New York, U.S, SVB, Bengaluru

TOKYO (AP) — Asian shares surged higher on Wednesday, cheered by a rally on Wall Street that was one of the best days of the year following a surprisingly encouraging report on inflation. “Accordingly, we expect GDP growth to slow from 1.7% this year to 0.5% in 2024,” he said in a commentary. Tuesday on Wall Street, the S&P 500 jumped 1.9% for its best day since April and hit a two-month high, closing at 4,495.70. On Wall Street, real-estate stocks and others beaten down particularly hard by higher rates soared to some of the market's biggest gains. Elsewhere on Wall Street, Home Depot rallied 5.4% after reporting stronger profit for the latest quarter than analysts expected.

Persons: Marcel Thieliant, ”, Hong, Seng, Australia's, Korea's Kospi, Russell, Brent Organizations: TOKYO, Nikkei, Capital Economics, Shanghai, Dow Jones Industrial, Nasdaq, Federal, Technology, Amazon, Nvidia, Treasury, U.S ., Alexandria Real, Bank, Zions Bancorp, Comerica, Valley Bank, Home Depot, New York Mercantile Exchange, U.S Locations: Alexandria, REITs, Wall

☆ We're not headed for another global financial crisis, top UBS economist says after recession warning
▼ + stars: | 2023-11-15 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +3 min

U.S. credit card debt soared to $1.08 trillion in the third quarter of 2023, data from the Federal Reserve Bank of New York showed earlier this month. "I don't think we're facing the next GFC [global financial crisis]," he said on the sidelines of the UBS European Conference. Credit tightening does play a role when it comes to the lag of Federal Reserve monetary policy filtering through to the economy, Pingle suggested. The Federal Reserve began hiking interest rates in March 2022 in an effort to ease inflation and cool the economy. "It's great news for the Federal Reserve in their quest to restore price stability," Pingle told CNBC on Wednesday.

Persons: Jonathan Pingle, Pingle, CNBC's Joumanna Bercetche, It's Organizations: UBS, Federal Reserve Bank of New York, UBS European Conference, Silicon Valley Bank, Federal Reserve, CNBC, Wednesday, Fed Locations: Silicon

☆ The Latest News, Headlines, and Business Stories for November 13
▼ + stars: | 2023-11-13 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at what the $650 billion in unrealized losses means for financial firms. That's the unrealized losses US financial firms wracked up as of September 30, according to Moody's estimate. That means there's a lot of wiggle room for how big banks can portray them on their balance sheet. To be sure, big banks are better capitalized than SVB. Big banks' share prices noticeably dropped as bond prices sunk.

Persons: —, it's, Nikolas Liepins, it'd, Matthew Fox, Dow Jones, isn't, Wall, Jim Chanos, Chanos, Ralph Lauren, Expedia, Apple, Dan Clancy, he's, Tyler Le, Tyson, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Anadolu Agency, Getty, NFL, Bank, Bank of America, Orrell, CNBC, NBCU, Apple, Big Tech, Professional, Vegas Golden Knights, Stanley, Tyson Foods Locations: Florida, New York City, San Diego, London, New York

☆ How US banks can wiggle out of the $650 billion balance-sheet bomb hanging over them
▼ + stars: | 2023-11-11 | by ( Matthew Fox | ) www.businessinsider.com time to read: +6 min

US banks are sitting on an estimated $650 billion in unrealized losses on their bond holdings. Here's why banks have flexibility in making sure that their $650 billion balance sheet bomb is defused. The bond crash culminated in an estimated $650 billion in unrealized losses held by banks, according to Moody's. How banks can defuse their balance sheet bombDespite the massive unrealized losses, banks are looking at three scenarios that could help ensure losses aren't realized. First, banks could simply hold onto their low-yielding debt until it matures and not realize any losses at all.

Persons: —, aren't, Louis Navellier, Geetu Sharma, Sharma, Banks Organizations: Service, Fed, Silicon Valley Bank, First Republic Bank, Signature Bank, Consumers, of America, Treasury, Federal Reserve, Banks, P Bank, P Regional Bank ETF

☆ Savings and CD Rates Today | Online Banking Platform Releases 3 New Offers Above 5% APY
▼ + stars: | 2023-11-11 | by ( Business Insider | ) www.businessinsider.com time to read: +8 min

With rates rapidly changing, how can you feel confident that you're getting the best savings account or best CD? New OffersOnline savings account platform Raisin launched three new deposit products this week with competitive interest rates over 5% APY. High-Yield Savings AccountsThe best high-yield savings accounts provide the security of a savings account with the added bonus of a high APY. A checking account is like a hub for your money: If your paycheck is direct deposited, it's typically to a checking account. 2-Year CDsThe best 2-year CD rates will be slightly lower than 1-year and no-penalty CD rates.

Persons: Banks, Raisin, —, Cash, we've Organizations: New, Bank, BMO, Cash, Products, Savings, Mission Valley Bank, Newtek, United States, Federal Credit Union, Western Alliance Bank Locations: —

☆ Wall St Week Ahead Bargain or trap? US bank stock outlook hinges on Fed's path
▼ + stars: | 2023-11-10 | by ( David Randall | ) www.reuters.com time to read: +4 min

Bank stocks are at an all-time low compared with the S&P 500 based on relative prices, according to data from BofA Global Research. One key factor for bank stocks is whether the Federal Reserve is close to wrapping up a monetary tightening cycle that has brought the highest U.S. interest rates in decades. Yet signs the Fed may keep rates around current levels through most of next year have weighed on bank stocks. This month, analysts at BofA Global Research said investors should “selectively” add exposure to bank stocks in anticipation of an interest rate peak. Overall, about 61% of all outstanding mortgages have an interest rate below 4%, according to the Apollo Group, leaving consumers little incentive to refinance or move.

Persons: Brendan McDermid, ”, Quincy Krosby, Bill Gross, Neville Javeri, Goldman Sachs, Jeff Muhlenkamp, David Randall, Bansari Mayur, Ira Iosebashvili, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Silicon Valley Bank, Bank, BofA Global Research, LPL, Federal Reserve, Fund, Allspring Global Investments, Fifth Third Bancorp, Investors, Apollo Group, financials, Fed, Muhlenkamp & Company, Thomson Locations: New York City, U.S, Silicon

☆ IPO laggards’ race to the bottom misses the target
▼ + stars: | 2023-11-10 | by ( Lisa Jucca | ) www.reuters.com time to read: +5 min

A view shows the Milan stock exchange building, as stocks slid in the first hours of trading after fears that the collapse of Silicon Valley Bank could trigger a broader financial crisis, in Milan, Italy, March 13, 2023. REUTERS/Claudia Greco Acquire Licensing RightsMILAN, Nov 10 (Reuters Breakingviews) - Italy is scrambling to make its stock market more attractive. Over the past few years, some prominent companies have moved their listing venue abroad. Companies rushing to list in the Netherlands are no doubt attracted by its lax approach to companies with dual voting share classes. Doubts over the sustainability of Rome’s high public debt push up listed companies’ cost of capital, depressing their valuations and making the stock market less appealing.

Persons: Claudia Greco, Giorgia, Rishi, Agnelli, Neil Unmack, Oliver Taslic Organizations: REUTERS, Reuters, Ministry, Companies, Reuters Graphics Reuters, Financial, Thomson Locations: Milan, Silicon, Italy, Amsterdam, New York, Paris, Italian, Netherlands, Britain, United States, London

☆ Savings and CD Rates Today | New 5-Year CD at 5.25%
▼ + stars: | 2023-11-09 | by ( Business Insider | ) www.businessinsider.com time to read: +8 min

With rates rapidly changing, how can you feel confident that you're getting the best savings account or best CD? Leading CD RatesSee more CD rates »Leading High-Yield Savings Account RatesLeading High-Yield Checking AccountOnPath Credit UnionEarn 7.00% APY on average daily balances up to $10,000 and 0.50% on balances above $10,000. High-Yield Savings AccountsThe best high-yield savings accounts provide the security of a savings account with the added bonus of a high APY. A savings account often limits the number of monthly transfers, while a checking account doesn't. 2-Year CDsThe best 2-year CD rates will be slightly lower than 1-year and no-penalty CD rates.

Persons: Banks, —, Cash, we've Organizations: Bank, BMO, Cash, Products, Savings, Mission Valley Bank, Newtek, United States, Federal Credit Union, Western Alliance Bank Locations: —

☆ A modern etiquette guide for group chats
▼ + stars: | 2023-11-09 | by ( Michael Venutolo-Mantovani | ) www.businessinsider.com time to read: +14 min

A recent poll of 1,005 US adults found the average American spends 26 minutes a day reading and responding to group chats. For us to survive and thrive as humans, it's time to agree on the Definitive Etiquette of the Group Chat. The ultimate appeal of group chats — their necessity, really — is that they've become the only social media that's actually social. Group chats can become overwhelming, of course, especially as they creep into other apps and especially as they often duplicate participants. Don't talk about the group chat outside the group chat.

Persons: who's, Sam Bankman, Fried, siphoning, Emily Post, they've, Mark Zuckerberg, Twitter, Hua Hsu, e Organizations: Bank, Democratic, Street, Wall, Mets, New York Giants, Facebook, Adidas, Nazi, Yorker Locations: Bankman, Silicon, Indonesia, American, Business, Politics, Netherlands, Rome, Tucson, le

[1/2] A woman shops for groceries at El Progreso Market in the Mount Pleasant neighborhood of Washington, D.C., U.S., August 19, 2022. The U.S. banking sector was in turmoil in the spring as Silicon Valley Bank abruptly collapsed after grappling with large amounts of unrealized losses spurred by rapidly rising interest rates. She said reinflation was a risk, especially if banks do not correctly anticipate interest rate moves and adjust their portfolios appropriately. That led to unrealized losses across the sector coming under closer scrutiny. Global banking and securities regulators are also still grappling with the fallout from the collapse of Credit Suisse Group (CSGC.UL).

Persons: Sarah Silbiger, Ana Arsov, Arsov, reinflation, ” Arsov, Tim Wennes, Paul Servais, Paritosh Bansal Tatiana Bautzer, Megan Davies, Lisa Shumaker, David Gregorio Our Organizations: El Progreso Market, Washington , D.C, REUTERS, Reuters, Banco Santander, Global, Credit Suisse Group, UBS, Jean, International Organization of Securities Commissions, Financial, Swiss, Thomson Locations: Mount Pleasant, Washington ,, U.S, SVB

☆ Stocks look pricey, the economy is showing cracks, and the Fed is an enemy to markets, says deputy chief investor of a $96 billion money manager
▼ + stars: | 2023-11-08 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +5 min

Jeffrey Sherman touted bonds over stocks and flagged signs of weakness in the US economy. DoubleLine's deputy chief investor told Insider the Federal Reserve is an "enemy to everything." NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementAdvertisementBonds are more enticing than stocks, the US economy is showing cracks, and the Federal Reserve is an enemy to investors, according to Jeffrey Sherman. He warned investors against trusting the central bank to balance inflation and growth while also shoring up asset prices.

Persons: Jeffrey Sherman, Sherman, —, Jeffrey Gundlach's, TCW, scrambles Organizations: Reserve, Service, Federal Reserve, Bank, Fed

☆ WeWork’s bankruptcy could have a painful effect on cities
▼ + stars: | 2023-11-07 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +6 min

WeWork’s bankruptcy will increase financial stress on commercial landlords that have rented large chunks of their office buildings to the co-working company. About $270 billion in commercial real estate loans held by banks will come due in 2023, according to Trepp, a commercial real estate data provider. “This is another huge problem for the office market to contend with.”No single tenant can make or break the office market, he said. Around 42% of WeWork’s occupancies are in those three cities, according to CoStar, a commercial real estate data firm. Commercial real estate was hit hard by the pandemic, with fewer people returning to offices and spending money in downtown corridors.

Persons: WeWork, ”, Ermengarde Jabir, Goldman Sachs, Stijn Van Nieuwerburgh, Peter Morgan, ” Alie Baumann, can’t, “, ” Baumann, Van Nieuwerburgh Organizations: New, New York CNN, Silicon Valley Bank, Signature Bank, Columbia Business School, Cities, New York City’s Locations: New York, America, Silicon, New York City, San Francisco, Boston, New York City . New York, NYC, New, United States, Columbia

That has left Italian equities overall more cheaply valued than even battered UK shares (.dMIGB00000PUS), which are trading at a 33% discount to global peers. Goldman Sachs estimates that each 10 bps rise in sovereign spreads takes around 2% off Italian bank shares and 1.5% off the FTSE MIB index. Conflict in Ukraine and in the Middle East meanwhile threaten to spark a fresh surge in energy prices and weaken growth. UniCredit shares are up almost 80% this year and among the best performing euro zone banking shares. Fidelity International portfolio manager Alberto Chiandetti, said he was chasing opportunities in battered industrials and consumer sectors in the FTSE Italia Star index.

Persons: Claudia Greco, Chris Hiorns, Fitch, Goldman Sachs, Giuseppe Sersale, Andrea Scauri, Lemanik, Scauri, LSEG, Alberto Chiandetti, Joice Alves, Danilo Masoni, Dhara Ranasinghe, Toby Chopra Organizations: REUTERS, Companies, LONDON, Barclays, European Commission, FTSE Italia Star, Anthilia, Banco, Fidelity International, FTSE, Thomson Locations: Milan, Silicon, Italy, Companies Italy, MILAN, Germany, Ukraine, iShares, Europe, dei, London

☆ Savings and CD Rates Today | New Savings Account Bonus up to $500
▼ + stars: | 2023-11-07 | by ( Business Insider | ) www.businessinsider.com time to read: +8 min

With rates rapidly changing, how can you feel confident that you're getting the best savings account or best CD? See more savings account bonuses »Leading Savings & Money Market Account BonusBMO Relationship Plus Money Market AccountEarn up to $4,100 with qualifying transactions: Open a Relationship Plus Money Market account and maintain an eligible balance to earn up to a $3,500 bonus. High-Yield Savings AccountsThe best high-yield savings accounts provide the security of a savings account with the added bonus of a high APY. A savings account often limits the number of monthly transfers, while a checking account doesn't. 2-Year CDsThe best 2-year CD rates will be slightly lower than 1-year and no-penalty CD rates.

Persons: Banks, —, Cash, we've Organizations: Bank, BMO, Cash, Products, Columbia, Savings, Mission Valley Bank, Newtek, United States, Federal Credit Union, Western Alliance Bank Locations: —

☆ Savings and CD Rates Today | Rates Remain High
▼ + stars: | 2023-11-06 | by ( Business Insider | ) www.businessinsider.com time to read: +8 min

With rates rapidly changing, how can you feel confident that you're getting the best savings account or best CD? Leading CD RatesSee more CD rates »Leading High-Yield Savings Account RatesSee more high-yield savings accounts »Leading High-Yield Checking AccountOnPath Credit UnionEarn 7.00% APY on average daily balances up to $10,000 and 0.50% on balances above $10,000. Maximize your bonus by adding a personal checking account to earn up to an additional $600See more savings account bonuses »Leading Checking & Savings Combo Account BonusSofi Checking and SavingsEarn up to a $250 bonus with qualifying direct deposits for eligible customers through 12/31/2023. High-Yield Savings AccountsThe best high-yield savings accounts provide the security of a savings account with the added bonus of a high APY. 2-Year CDsThe best 2-year CD rates will be slightly lower than 1-year and no-penalty CD rates.

Persons: Banks, —, Cash, we've Organizations: BMO, Cash, Products, Columbia, Savings, Mission Valley Bank, Newtek, United States, Federal Credit Union, Western Alliance Bank Locations: —

☆ How investor Bill Martin nailed his big short against Silicon Valley Bank before its collapse
▼ + stars: | 2023-11-05 | by ( Yun Li | ) www.cnbc.com time to read: 1 min

Much like Michael Burry and Steve Eisman, who shot to fame and fortune by calling the housing bubble in 2008, Bill Martin stood out as the "big short" during this year's banking crisis. The founder of family office Raging Capital Ventures bet against Silicon Valley Bank before its collapse in March. "Just like you would short a bank in Texas when oil prices collapse, I was looking for banks with exposure to venture. And that's what led me to Silicon Valley Bank," Martin said in CNBC PRO's "Art of the Trade." The short seller also shared how he managed risk for the volatile trade, as well as other opportunities he capitalized on during the crisis.

Persons: Michael Burry, Steve Eisman, Bill Martin, Martin Organizations: Raging Capital Ventures, Silicon Valley Bank, CNBC Locations: Texas, Silicon

☆ Art of the Trade: Bill Martin breaks down his 'big short' call on the banking crisis
▼ + stars: | 2023-11-05 | by ( Yun Li | Alison Conklin | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailArt of the Trade: Bill Martin breaks down his 'big short' call on the banking crisisRaging Capital Venture's Bill Martin sits down with CNBC's Yun Li to discuss why he saw the writing on the wall before Silicon Valley Bank's collapse in March. Martin explains how he was able to leverage his entrepreneurial background and his connections on the west coast to cash in on his lucrative short bet.

Persons: Bill Martin, CNBC's Yun Li, Martin Organizations: Trade

☆ Savings and CD Rates Today | Savings Over 5%
▼ + stars: | 2023-11-05 | by ( Business Insider | ) www.businessinsider.com time to read: +8 min

With rates rapidly changing, how can you feel confident that you're getting the best savings account or best CD? Leading CD RatesSee more CD rates »Leading High-Yield Savings Account RatesSee more high-yield savings accounts »Leading High-Yield Checking AccountOnPath Credit UnionEarn 7.00% APY on average daily balances up to $10,000 and 0.50% on balances above $10,000. Maximize your bonus by adding a personal checking account to earn up to an additional $600See more savings account bonuses »Leading Checking & Savings Combo Account BonusSofi Checking and SavingsEarn up to a $250 bonus with qualifying direct deposits for eligible customers through 12/31/2023. High-Yield Savings AccountsThe best high-yield savings accounts provide the security of a savings account with the added bonus of a high APY. 2-Year CDsThe best 2-year CD rates will be slightly lower than 1-year and no-penalty CD rates.

☆ CD Rates and Savings Rates Today | CDs Approach 6%
▼ + stars: | 2023-11-04 | by ( Business Insider | ) www.businessinsider.com time to read: +8 min

With rates rapidly changing, how can you feel confident that you're getting the best savings account or best CD? Here are the top rates for popular savings accounts and CDs on Saturday, November 4. Maximize your bonus by adding a personal checking account to earn up to an additional $600See more savings account bonuses »Leading Checking & Savings Combo Account BonusSofi Checking and SavingsEarn up to a $250 bonus with qualifying direct deposits for eligible customers through 12/31/2023. High-Yield Savings AccountsThe best high-yield savings accounts provide the security of a savings account with the added bonus of a high APY. 2-Year CDsThe best 2-year CD rates will be slightly lower than 1-year and no-penalty CD rates.

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