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☆ Jamie Dimon warns of the 'most dangerous time' for the world in decades, sounding the alarm on wars, soaring debt, and the Fed
▼ + stars: | 2023-10-13 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

JPMorgan CEO Jamie Dimon sounded the alarm on a series of risks looming over global markets. "This may be the most dangerous time the world has seen in decades," Jamie Dimon said in a JPMorgan earnings press release. Dimon also reiterated concerns of higher interest rates to come, having previously noted 7% levels as a real possibility. Added to that is growing US debt, which has drawn increasing criticism for its potential to worsen interest rates and eventually lead to fallout, if left unchecked. Despite Dimon's concerns, JPMorgan's reported strong third-quarter results, helped by higher interest rates and its acquisition of First Republic Bank earlier this year.

Persons: Jamie Dimon, Dimon, —, JPMorgan's Organizations: Service, Bank, First Republic Bank Locations: Ukraine

☆ Regional banks are in focus in the week ahead as third-quarter earnings season ramps up
▼ + stars: | 2023-10-13 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

Regional banks will be in focus in the week ahead as traders head into the thick of third-quarter earnings season. Regional bank earnings are also expected to be a weak point this season. But a closer look into the sector's sub-industries showed that regional banks are anticipated to have tumbled by 15% last quarter. Traders parsing through regional bank earnings will pay special attention to signs of narrowing net interest margins (NIM). Earnings season underway Many investors anticipate that the third-quarter earnings season will be alright.

Persons: Wells, Kumar, FactSet's John Butters, NIM, They'll, JPMorgan Chase, Jamie Dimon, Goldman Sachs, Morgan Stanley, FactSet's Butters, Nancy Tengler, Lauren Goodwin, we'll, Goodwin, Charles Schwab, Lockheed Martin, Goldman, Zions, Kinder Morgan, Lam, McLennan, Philip Morris, Huntington Bancshares, —, Jesse Pound Organizations: Citigroup, JPMorgan Chase, Sri, Kumar, Silicon Valley Bank, Regional Banking, Dow Jones Industrial, JPMorgan, Hamas, Northern Trust, U.S . Bancorp, T Bank, Citizens Financial, Bank of America, Federal Reserve, Companies, Investments, New York Life Investments, Index, Johnson, Bank of New York Mellon, Goldman Sachs Group, Hunt Transport Services, Omnicom, United Airlines Wednesday, Housing, Elevance, Citizens Financial Group, Procter, Gamble, Abbott Laboratories, Discover Financial Services, Las Vegas Sands, PPG Industries, Steel Dynamics, Tesla, Netflix, Lam Research, Philadelphia Fed, Truist, Alaska Air Group, Fifth Third Bancorp, American Airlines Group, Marsh, Philip Morris International, Union, CSX, Comerica, Regions Financial, American Express, Interpublic, Cos Locations: Wells Fargo, Silicon, Ukraine, Israel, J.B, Las Vegas, Philadelphia, Truist Financial, Union Pacific, Freeport, Huntington

☆ Bankruptcies are surging - and Fed rate hikes are to blame, economist says
▼ + stars: | 2023-10-13 | by ( Aruni Soni | ) www.businessinsider.com time to read: +2 min

Rising US corporate bankruptcies are due to Fed rate hikes, Apollo chief economist said. "The September data for bankruptcy filings are out, and more and more companies are going bankrupt because of Fed hikes," said Apollo chief economist Torsten Sløk in a note on Friday. "Bankruptcies are hitting companies with high levels of debt and low earnings in the Consumer discretionary, Healthcare, and Industrials sectors," Sløk added. AdvertisementAdvertisementSome of the other headline bankruptcies this year have included the collapse of Yellow, Bed Bath & Beyond, and Silicon Valley Bank. According to experts, a rising wave of bankruptcies and debt defaults could risk rocking the economy towards a recession.

Persons: —, Torsten Sløk, Sløk Organizations: Service, P, Healthcare, SmileDirectClub Inc, Silicon Valley Locations: Silicon

☆ Despite economic uncertainty, you can still build and preserve generational wealth, experts say
▼ + stars: | 2023-10-12 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

Kate_sept2004 | E+ | Getty ImagesDespite economic uncertainty, it's still possible to build and preserve generational wealth, experts said Thursday at CNBC's Financial Advisor Summit. "But I think we'll still have an earnings recession," she said, pointing to rising costs of labor amid worker strikes. While rising interest rates have triggered stock market volatility, they have created competitive options for investors. Biggest threats to generational wealthWith some experts still predicting a recession, experts at the summit said it's also important to protect generational wealth. 1 cause of great loss of wealth is concentration," said Lagomasino, emphasizing the risk of having "a lot of eggs in one basket."

Persons: Mel Lagomasino, Lagomasino, it's, Rodney Williams, hasn't, Williams Organizations: CNBC's Financial, WE, Silicon Valley Bank, First Locations: New York City, Miami, Silicon

☆ Treasury yields spike as markets worry about the impact of sticky inflation on Fed policy
▼ + stars: | 2023-10-12 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

The 10-year Treasury yield spiked about 12 basis points Thursday. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The 10-year Treasury yield jumped 12 basis points to hover at 4.714%, near the 16-year highs reached the week prior. Earlier in the week on Tuesday, the 10-year Treasury yield dropped 15 basis points in the steepest single-day decline since the implosion of Silicon Valley Bank in March. September CPI showed prices rose 3.7% on an annualized basis in September, above the expected 3.6%, and the same level as August's reading.

Persons: —, recalibrate, Charlie Ripley Organizations: Treasury, Service, Valley Bank, Fed, Allianz Investment Management, Wall Street

☆ Bank earnings kick off with JPMorgan, Wells Fargo amid concerns about rising rates, bad loans
▼ + stars: | 2023-10-12 | by ( Hugh Son | ) www.cnbc.com time to read: +3 min

Just as they did during the March regional banking crisis, higher rates are expected to lead to a jump in losses on banks' bond portfolios and contribute to funding pressures as institutions are forced to pay higher rates for deposits. The issue constrains the bank's interest revenue and has made the lender the worst stock performer this year among the top six U.S. institutions. Expectations on the impact of higher rates on banks' balance sheets varied. Still, others including KBW and UBS analysts said that other factors could soften the capital hit from higher rates for most of the industry. There's also concern that higher interest rates will result in ballooning losses in commercial real estate and industrial loans.

Persons: Jamie Dimon, Marco Bello, Christopher McGratty, David Konrad, McGratty, Morgan Stanley, Betsy Graseck, Konrad, Gerard Cassidy Organizations: JPMorgan Chase &, Reuters, JPMorgan Chase, Citigroup, Bank, Silicon Valley Bank, First, Bank of America, Comerica, Fifth Third Bank, KeyBank, UBS, RBC Locations: Miami , Florida, U.S, Wells Fargo, Silicon, First Republic

☆ Savings Account and CD Rates Today | New Bank Enters Top Savings Account Rate Race
▼ + stars: | 2023-10-12 | by ( Business Insider | ) www.businessinsider.com time to read: +8 min

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

☆ More work to do in tackling non-bank risks, says FSB's Knot
▼ + stars: | 2023-10-12 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

Klaas Knot, chair of the Financial Stability Board, arrives for the G20 leaders' summit in Nusa Dua, Bali, Indonesia, November 15, 2022. "Why did we not see these pockets of hidden leverage? That, I think, is still the main target of our work in the NBFI space going forward," Knot said. "In general the massive change in the interest rate environment, so far so good, there has not been any systemic rippling of negative effects into the financial sector," Knot told the Institute of International Finance annual meeting. Meanwhile, AI could have tangible benefits and present some risks to the financial system, he said.

Persons: Klaas, Willy Kurniawan, Klaas Knot, Huw Jones, Alex Richardson, Alexander Smith, Jane Merriman Organizations: Board, REUTERS, UBS Group, Silicon Valley Bank, UBS, Swiss, Credit Suisse, European Central Bank, policymaker, Institute of International Finance, Bank of England, Authority, ECB, Thomson Locations: Nusa Dua, Bali, Indonesia, Silicon, Dutch

☆ Interest rates take center stage with banks set to report quarterly results
▼ + stars: | 2023-10-12 | by ( Morgan Chittum | ) www.cnbc.com time to read: +6 min

Like other big banks, Wells Fargo and Morgan Stanley have been caught in the throes of the central bank's interest-rate-hiking campaign over the past 18 months. Wells Fargo and Morgan Stanley are down on the year amid the difficult backdrop, falling 4.3% and 8.6%, respectively. Wells Fargo is set to report third-quarter results before the opening bell on Friday, while Morgan Stanley is slated to post results next Wednesday. Out of the major U.S. banks, Wells Fargo has the largest exposure to the ailing commercial real estate market, an industry troubled by higher rates and near-record office vacancy levels. Morgan Stanley MS YTD mountain Morgan Stanley (MS) year-to-date performance For the three months ended Sept. 30, analysts expect Morgan Stanley to report revenue of $13.2 billion, up from $12.9 billion during the same period last year, according to Refinitiv.

Persons: Morgan Stanley, Jim Cramer, Wells Fargo, Wells, Charlie Scharf, Mike Santomassimo, Scharf, Jim, Morgan, –, James Gorman, we'll, Jim Cramer's, JPMorgan, Goldman Sachs Organizations: Wells, Silicon Valley Bank, Barclays, CNBC, Citibank, JPMorgan Chase, Bank of America, Reuters Locations: Wells Fargo, Silicon, Wells, U.S

JPMorgan Chase Bank is seen in New York City, U.S., March 21, 2023. In the first 10 days of this month, the $1.46 billion Invesco KBW Bank ETF (KBWB.O) saw net outflows of $336.18 million, while the $2.49 billion SPDR S&P Regional Banking ETF saw net outflows of $19.58 million. Overall, the Invesco fund and the SPDR fund posted net inflows of $381.16 million and $565.15 million so far this year. The prices of the ETFs are down 23% and 28.4%, respectively, as bank stocks fell sharply earlier this year following the collapse of California-based Silicon Valley Bank and two other U.S. lenders. "Although, our equity research team indicates that selling may have pushed prices down too far and created a buying opportunity."

Persons: Caitlin Ochs, Hogan, Riley, JPMorgan Chase, Wells, Bryan Armour, Bansari Mayur, Jonathan Oatis Organizations: JPMorgan Chase Bank, REUTERS, Exchange, KBW Bank, Regional Banking, Valley Bank, U.S, Federal, JPMorgan, Citigroup, North America, Morningstar, Thomson Locations: New York City, U.S, California, Bengaluru

☆ Stay away from bank stocks with turmoil in the sector far from over, 'Big Short' investor Steve Eisman warns
▼ + stars: | 2023-10-11 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Investors should stay away from bank stocks with more market turmoil on the cards, according to Steve Eisman. Eisman also said to avoid homebuilder stocks, which have been battered by rising interest rates. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementSteer clear of bank stocks with the turmoil from earlier this year likely to rear its head again soon, Steve Eisman has warned. Eisman is best known for his big bets against the US housing market ahead of the 2008 financial crisis, as depicted in Michael Lewis' book "The Big Short".

Persons: Steve Eisman, Eisman, —, Steer, CNBC's, Freddie Mac, Michael Lewis Organizations: Service, First Republic, Nasdaq, Federal Locations: Silicon Valley, homebuilding

☆ The Treasury market this week saw its biggest single-day rally since the collapse of Silicon Valley Bank
▼ + stars: | 2023-10-11 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

That's the steepest one-day decline the 10-year Treasury yield has seen since the implosion of SVB in early March, when banking turmoil led investors to flock to US debt in search of safety. The 10-year Treasury yield continued to slide early Wednesday, trading around 4.577%. AdvertisementAdvertisementInvestors were pushed to sell US Treasuries last week amid rising fears over the US debt balance and higher-for-longer interest rates. The 10-year Treasury yield briefly touched a 16-year-high, capping one of the worst selloffs in market history. Meanwhile, several Fed officials delivered dovish comments on the outlook for interest rates this week, which perked up market sentiment.

Persons: SVB, —, Raphael Bostic Organizations: Treasury, Investors, Service, Silicon Valley Bank, Federal Reserve, Hamas, Atlanta Fed Locations: Silicon, Israel, Friday's

☆ These regional banks are at risk of being booted from the S&P 500
▼ + stars: | 2023-10-11 | by ( Hugh Son | ) www.cnbc.com time to read: +3 min

Cooper Neill | Bloomberg | Getty ImagesThe stock sell-off that hit regional banks this year has exposed lenders including Zions and Comerica to the risk of being delisted from the Standard & Poor's 500 index. This year's regional banking crisis has already caused changes in the composition of the S&P 500, the most popular broad measure of large American companies in the investing world. Companies that no longer qualify as large-cap stocks are at heightened risk of demotion from the S&P 500. S&P guidelinesTo be considered for inclusion in the S&P 500, companies need to have a market capitalization of at least $14.5 billion and meet profitability and trading standards. The committee that decides the composition of the S&P 500 looks to minimize churn and accurately represent reference sectors, making changes only when "ongoing conditions warrant an index change," according to S&P.

Persons: Cooper Neill, Blackstone, Lincoln, Chris Marinac, Janney Montgomery Scott, Banks, Dow Jones Organizations: Comerica Inc . Bank, Bloomberg, Getty, Zions, Comerica, Lincoln National, Valley Bank, First, JPMorgan Chase, Investors, Newell Brands Locations: Dallas , Texas, First Republic, ZIons

☆ Israel's tech hub is a crucial part of its economy. Now, startups could face tougher funding rounds amid the war, experts say.
▼ + stars: | 2023-10-11 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Getting overseas funding could become difficult for Israel's tech industry amid the war, experts told Reuters. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementAdvertisementIsrael's tech startups have already been facing a tough year attracting funding amid the implosion of a major lender for start-ups, global recession fears, and rising borrowing rates. Investment in Israel's tech startups has already been falling for seven straight quarters even before the war started, according to a report by the think tank Startup Nation Policy Institute, released on September 30. AdvertisementAdvertisementTech insiders also express optimism for the industry, citing Israel's reputation as an established tech hub.

Persons: —, Jon Medved, Avi Hasson, Catalyst, Hasson Organizations: Reuters, Tech, Silicon Valley Bank, Service, Nation Central, Investment, Nation Policy Institute, Israel ., Insight Partners Locations: Israel, Silicon, Tel Aviv, Europe, Israel . New York

[1/4] The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. The IMF adjusted this year's stress test to probe the impact of its baseline economic scenario of higher interest rates for longer, as well as the possibility of consumers yanking deposits. "Under the baseline, it's about 5% of banks that are relatively weak in terms of their capital. And in severe stress, that number goes up to 30% or sometimes higher," Adrian said. The IMF did not identify the banks that could be in trouble if those economic circumstances arose, but they included both small and large lenders.

Persons: Yuri Gripas, Tobias Adrian, Adrian, There's, Pete Schroeder, Michelle Price, Paul Simao Organizations: Monetary Fund, REUTERS, Rights, International Monetary Fund, IMF, Valley Bank, Switzerland's Credit Suisse Group, Monetary, Capital Markets Department, Palestinian, World Bank, U.S, Thomson Locations: Washington , U.S, California, Israel, Gaza, Marrakech, Morocco, Italy, Federal, U.S

"This quarter is all about higher interest rates for longer," said Mike Mayo, an analyst at Wells Fargo. "There is a constructive environment, and investment banking fees tend to be higher through the end of the year," said Jason Goldberg, a banking analyst at Barclays. Despite the renewed optimism, investment banking activity remains depressed. As rates rise, bond prices fall, representing losses on paper that would be realized if the banks sold the bonds. More broadly, "we're back into this environment where investors think interest rates are going to remain higher for longer," he said.

Persons: JP Morgan Chase, Mike Segar, JPMorgan Chase, Goldman Sachs, Morgan Stanley's, Mike Mayo, Ebrahim Poonawala, Jason Goldberg, Richard Ramsden, James Demmert, Ramsden, Tatiana Bautzer, Saeed Azhar, Lananh Nguyen, Nick Zieminski 私 Organizations: JP, Co, REUTERS, JPMorgan, Citigroup, Wells, Bank of America, Federal Reserve, Wall Street, SoftBank's Arm Holdings, Barclays, U.S, Treasury, Valley Bank, Federal Deposit Insurance Corporation, Reuters, Street Research Locations: New York, Wells Fargo, dealmaking, Israel, Bengaluru

☆ The IMF warns of bond market risks amid fears of a Silicon Valley Bank repeat
▼ + stars: | 2023-10-10 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

The IMF warned of bond market risks amid fears of a Silicon Valley Bank repeat. Sharp rises in bond yields could pose a risk to banking portfolios, as happened earlier this year. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementAdvertisementThe sharp rise in Treasury bond yields provoked warnings from the International Monetary Fund, which called on regulators to increase their financial markets oversight. In March, Silicon Valley Bank was forced to sell its bond holdings at a major loss, sparking a flight in deposits that triggered its collapse along with other lenders.

Persons: Tobias Adrian, Sharp, —, Adrian, Michael Barr Organizations: Financial Times, Service, International Monetary Fund, Silicon Valley Bank, Federal Reserve, American Bankers Association Locations: Silicon Valley, China, Europe, United States

☆ Analysis: War with Hamas threatens funding recovery in Israel's vital tech industry
▼ + stars: | 2023-10-10 | by ( Steven Scheer | ) www.reuters.com time to read: +5 min

"This is not a particularly easy time to get investment," he added, noting the number of flights to Israel that have been cancelled. CONFIDENCE EARNEDThat said, Hasson and others expect Israel's tech sector to rebound in the same way it has in past conflicts with Palestinian and Hezbollah militants. Medved said that he believes that Israel will prevail as an tech investment destination. "Historically, every time Israel has gone to war, long term has been a buy side," he said. "That shift may even help push those investors who might have been reluctant (to invest in Israel)," he said.

Persons: Jon Medved, Israel, Maya Eisen Zafrir, Avi Hasson, Hasson, Medved, Arie Zilberstein, Gem's, Ariel Efergan, Hillel Fuld, Steven Scheer, Krystal Hu, Louise Heavens Organizations: Overseas, OurCrowd, Hamas, Silicon Valley Bank, IVC Research, Investment, Startup Nation, Israel, U.S, Insight Partners, Security, Startup, Thomson Locations: Israel's, Israel, Gaza, Egypt, Yom, Silicon, Palestinian, New York, Tel Aviv, Jerusalem

REUTERS/Kevin Lamarque/ Acquire Licensing RightsWASHINGTON, Oct 9 (Reuters) - The U.S. Federal Reserve's top regulatory official defended a sweeping proposal to overhaul bank capital rules before the country's largest bank lobby on Monday, arguing the benefits of a bigger cushion outweigh any additional costs banks might face. The proposal implements international capital standards agreed by the Basel Committee on Banking Supervision in the aftermath of the 2007-2009 financial crisis. Barr's Monday speech, which is his first on bank regulation since the proposal came out, served as a broad-based defense of the effort. "The private costs of capital must be weighed against the social benefits of higher capital in creating a healthier, more resilient financial system," he said, according to prepared remarks. Barr also pushed back against the industry's refrain that higher capital costs for banks will mean curtailed lending and potential economic harm.

Persons: Michael Barr, Kevin Lamarque, Michael Barr's, Barr, Jerome Powell, Powell, Isaac Boltansky, Pete Schroeder, Michelle Price, Josie Kao, Andrea Ricci Organizations: Financial, Valley Bank, Signature Bank, Capitol, REUTERS, Rights, U.S, Federal, Banking, Silicon Valley Bank, Thomson Locations: Washington , U.S, Silicon

☆ Savings Account and CD Rates Today | New 16 Month No Penalty CD Comes to Market
▼ + stars: | 2023-10-07 | by ( Business Insider | ) www.businessinsider.com time to read: +15 min

With rates rapidly changing, how can you feel confident that you're getting the best savings account or best CD? Compare Today's Savings RatesLeading High-Yield Savings Account RatesRemember that high-yield savings account rates are variable, so they will change over time. Fees no monthly service fee Annual Percentage Yield (APY) 5.26% Minimum Deposit Amount $1 Pros Check mark icon A check mark. Fees no monthly service fee Annual Percentage Yield (APY) 5.25% (as of 08/11/2023) Minimum Deposit Amount $0 Pros Check mark icon A check mark. 2-Year CDsThe best 2-year CD rates will be slightly lower than 1-year and no-penalty CD rates.

Persons: Banks, you'd, —, Cash, we've Organizations: Alliance, Western Alliance, FDIC, Western Alliance Bank, Mint Western Alliance Bank, Chase, Cash, Products, Savings, Mission Valley Bank, Newtek, Federal Credit Union Locations: Axos, —

☆ Wall Street's dream scenario is dead
▼ + stars: | 2023-10-07 | by ( Matthew Fox | ) www.businessinsider.com time to read: +8 min

Wall Street's vision of a Goldilocks scenario for the stock market and economy is unraveling. AdvertisementAdvertisementWall Street's dream of a Goldilocks scenario for the stock market and economy is probably dead. Interest rates soared. As painful as inflation and higher interest rates were, the economy remained resilient as consumers held onto their jobs and kept swiping their credit cards. It has to acknowledge that interest rates are now sufficiently restrictive, and decide that it's next monetary policy move isn't an interest rate hike, but rather a pause, and then a cut.

Persons: —, it's, Jerome Powell, Powell's, Powell, Buckle, Greg Daco, Something's, Kevin O'Leary, we've, Wharton, Jeremy Siegel, Mary Daly, Raphael Bostic Organizations: Service, Treasury, Valley Bank, Bloomberg, CNBC Locations: America

☆ Analysis: Trend hedge funds come out winners in bond market rout
▼ + stars: | 2023-10-06 | by ( Nell Mackenzie | ) www.reuters.com time to read: +5 min

Yet in one corner of the hedge fund world, there's a sigh of relief. So-called trend following and systematic hedge funds have long positioned for a fall in government bond prices given higher-for-longer inflation. AlphaSimplex is a $7.9 billion trend following hedge fund. While many trend funds, also known as "managed futures" funds, use price data, their trading models might also interpret macro economic factors playing out in markets. Some trend funds shrank their fixed income holdings in response to the March turmoil.

Persons: Carlo Allegri, Kathryn Kaminski, Morningstar, Razvan Remsing, Yao Hua Ooi, Laurent Le Saint, Metori, Aspect's, Nell Mackenzie, Dhara Ranasinghe, Susan Fenton Organizations: New York Stock, REUTERS, Generale, Reuters, Silicon Valley Bank, Treasury, Virtus, AQR Capital Management, Capital Management, Thomson Locations: Manhattan, New York City , New York, U.S, United States, Germany, Boston, Silicon, Europe, China, Paris, EU, Japan

☆ Savings Account and CD Rates Today | Lock in 6% Rates Today
▼ + stars: | 2023-10-06 | by ( Business Insider | ) www.businessinsider.com time to read: +17 min

With rates rapidly changing, how can you feel confident that you're getting the best savings account or best CD? Leading High-Yield Savings Account RatesRemember that high-yield savings account rates are variable, so they will change over time. Fees no monthly service fee Annual Percentage Yield (APY) 5.26% Minimum Deposit Amount $1 Pros Check mark icon A check mark. Annual Percentage Yield (APY) 5.31% Minimum Deposit Amount $1 Pros Check mark icon A check mark. 2-Year CDsThe best 2-year CD rates will be slightly lower than 1-year and no-penalty CD rates.

Persons: Banks, you'd, —, Cash, we've Organizations: Alliance, Western Alliance, FDIC, Western Alliance Bank, Mint Western Alliance Bank, Freedom, Chase, Cash, Products, Savings, Mission Valley Bank, Newtek, Federal Credit Union Locations: Axos, —

[1/2] A view shows the entrance of the venue for the upcoming meetings of the International Monetary Fund and the World Bank, following last month's deadly earthquake, in Marrakech, Morocco October 1, 2023. Reuters GraphicsThe yield on the 30-year U.S. Treasury bond this week pierced 5% for the first time since 2007. Long-term U.S. yields have climbed roughly 1 percentage point in the past three months compared with a single quarter-percentage-point Fed rate hike during that period. Keeping the world's largest economy out of recession provides steadier demand for other countries' exports, as well as more certainty as Fed rate hikes hit a stopping point. The fallout depends on "how much further, and how quickly, bond yields rise," they said.

Persons: Abdelhak, China's, Goldman Sachs, Gene Tannuzzo, Tannuzzo, Karen Dynan, it's, Howard Schneider, Dan Burns, Paul Simao Organizations: International Monetary Fund, World Bank, REUTERS, Rights, U.S ., Treasuries, Reuters, Treasury, Federal Reserve, Columbia Threadneedle, Harvard University, Peterson Institute for International Economics, Capital Economics, Valley Bank, Thomson Locations: Marrakech, Morocco, U.S, Washington, California

☆ Bond rout won't end Fed balance sheet cuts, but endgame bubbling into view
▼ + stars: | 2023-10-06 | by ( Michael S. Derby | ) www.reuters.com time to read: +5 min

Since June 2022, the Fed has allowed more than $1 trillion of bonds to mature from its portfolio, including roughly $840 billion of Treasuries. QT drains liquidity from the banking system, reducing bank reserves parked at the Fed and cash stashed in its reverse repo facility. Others believe money market rates will start to move up in ways suggesting the system is short of cash. A New York Fed report in April projected an end to QT around the middle of 2025. A survey of major banks by the New York Fed released in August eyed an end to QT in mid-2024.

Persons: it's, ”, Kathy Bostjancic, Bostjancic, Goldman Sachs, Loretta Mester, “, Austan Goolsbee, Mary Daly, Michael Barr, Michael Cloherty, Mark Cabana, ” Cabana, Cabana, Michael S, Ann Saphir, Dan Burns, Andrea Ricci Organizations: Goldman Sachs, Federal Reserve, Silicon Valley Bank, Fed, Treasury, Reuters Graphics Reuters, Cleveland Fed, Bloomberg, Chicago Fed, San Francisco Fed, UBS, Bank Policy Institute, New York Fed, Bank of America, Daily, Derby, Thomson Locations: Silicon, Washington

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