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☆ Big banks are bracing for losses as Americans struggle to pay off debt
▼ + stars: | 2024-10-21 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +8 min

American consumers and businesses are having a hard time paying off credit card, auto, and commercial real estate debt. Bank CEOs said on recent earnings calls that elevated prices and interest rates continue to weigh on Americans. According to Federal Reserve data, the past-due debt share for credit card, auto, and commercial real estate has recently risen to above pre-pandemic levels. That's because some loans are coming due — forcing businesses to refinance at much higher interest rates. The financial roller coaster of pandemic payments, whipsawing inflation, and high interest rates are especially affecting lower-income Americans.

Persons: —, Wells Fargo's, haven't, Bruce McClary, David Schiff, Schiff, Edmunds, Stephen Biggar, Biggar, Jane Fraser, Brian Moynihan, Charles Scharf, Wells, Jeremy Barnum, There's, I'm Organizations: Bank, Service, Federal Reserve, Business, Bank of America, JPMorgan, Citigroup, Bank of, New, Fed, National Foundation, Credit, Argus Research, Bank of America's Locations: Wells Fargo, delinquencies

☆ Trump Media shares halted after sudden DJT stock plunge
▼ + stars: | 2024-10-15 | by ( Kevin Breuninger | ) www.cnbc.com time to read: 1 min

In this photo illustration, Republican presidential candidate former President Donald Trump's social media platform Truth Social is shown on a cell phone on March 25, 2024 in Chicago, Illinois. Trading in Trump Media shares was briefly halted Tuesday due to volatility, after the Truth Social owner's stock suddenly plunged in price. Shares continued to fall after the five-minute trading halt lifted at 12:47 p.m. The stock, which had been up more than 13% earlier Tuesday afternoon, had abruptly turned more than 6% lower on the day at the time the halt occurred. The whipsawing stock price came during an extremely high-volume trading session, in which more than 76 million shares had traded hands by 3 p.m. — multiple times the company's 30-day average trading volume.

Persons: Donald Trump's Organizations: Trading, Trump Media Locations: Chicago , Illinois

☆ Markets saw a massive shift this week. Here’s what happened
▼ + stars: | 2024-08-09 | by ( Krystal Hur | ) edition.cnn.com time to read: +4 min

New York CNN —After a prolonged period of calm, financial markets went into a tailspin this week. One trigger for the selloff was the unraveling of the Japanese yen carry trade. Some investors say there could be more volatility to come, particularly since it’s unclear how much more the yen carry trade could unwind. The carry trade is “enormous. The unwinding of the carry trade and weak labor data came at a delicate time rife with uncertainty for Wall Street.

Persons: Wharton, Jeremy Siegel, Siegel, ”, Steve Sosnick, Joe Biden, Donald Trump, Dow, Liz Young Thomas Organizations: New, New York CNN, Nikkei, Dow, Nasdaq, Bank of Japan, Companies, Federal Reserve, Investors, CNBC, Interactive Brokers, Markets, Republican, Home Depot, Walmart Locations: New York, Israel, Ukraine, Russia

☆ JPMorgan's Jamie Dimon warns the world is on fire — and plenty of people are way too bullish
▼ + stars: | 2024-04-08 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

In his annual letter to JPMorgan shareholders, Jamie Dimon rang the alarm on geopolitical tensions. The bank's CEO said investors were too optimistic about inflation, interest rates, and the economy. AdvertisementJamie Dimon is deeply concerned about international relations — and worries investors are too optimistic about threats such as inflation, interest rates, and recession. AdvertisementIndeed, Dimon said JPMorgan was ready for rates of 2% to 8% or even higher. He flagged the possibility of stagflation, which could usher in higher rates, large credit losses, a slump in business volumes, and tough markets.

Persons: Jamie Dimon, —, Dimon, Sharp, he's Organizations: JPMorgan, Service, Federal, Wall Locations: Ukraine, China

☆ Welcome to the (almost) red-hot bond market
▼ + stars: | 2023-11-15 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

When Treasury yields go up, so do mortgage rates; when they go down, mortgage rates tend to follow. Surging mortgage rates over the past few years have sent home loan applications and home sales down sharply. The 30-year fixed rate mortgage was also advancing towards 8% — a level not seen since the dot-com bubble popped in 2000. Those raging Treasury yields brought pain to investors and also increased how much American companies had to pay to service their debts. In fact, Wall Street is struggling to figure out what it means for the timing and scale of future rate cuts.

Persons: ”, Michael Hartnett, Gina Bolvin, “ We’re, Phillip Wool, Goldman Sachs, Morgan Stanley, Ellen Zentner Organizations: New, New York CNN, New York Federal, Treasury, Dow, Bank of America, Bolvin Wealth Management, Mortgage News, Mortgage, Association, Financial, Consumer, Federal Reserve, Goldman, Fed, UBS, Airlines for America, AAA Locations: New York

☆ CNBC Daily Open: Meta outperformance
▼ + stars: | 2023-10-26 | by ( Clement Tan | ) www.cnbc.com time to read: +3 min

(Photo by Spencer Platt/Getty Images)This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. In its third-quarter earnings report, the Facebook parent said revenue increased 23%, its fastest rate of growth since 2021. Meta is seeing faster growth in its core digital advertising business as clients rebound from a tough 2022. Meta said it expects revenue of $36.5 billion to $40 billion for the fourth quarter.

Persons: Stocks, Spencer Platt, Ford, Mattel, Meta, Mark Zuckerberg’s, Susan Li, —, Jonathan Vanian Organizations: NEW, New York Stock Exchange, Labor Department, Getty, CNBC, Labor, United Auto Workers, IBM, Wall, Google, Meta, Labs, Treasury Locations: New York City, China, Israel

☆ Australia gas strike threat: What happens has 'massive ramifications' for Europe, says economist
▼ + stars: | 2023-08-30 | 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 EmailAustralia gas strike threat: What happens has 'massive ramifications' for Europe, says economistVivek Dhar, director of mining and energy economist at Commonwealth Bank of Australia, says the "whipsawing effect" in markets will exist "until we see some deal or some closure."

Persons: Vivek Dhar Organizations: Australia, Commonwealth Bank of Australia Locations: Europe

☆ America Lost a Whole Lot of Millionaires Last Year
▼ + stars: | 2023-08-15 | by ( ) www.wsj.com time to read: 1 min

For the first time since 2008, global wealth declined, falling by 2.4% in dollar terms, largely because of whipsawing currencies, UBS and Credit Suisse economists said Tuesday. The banks’ global wealth report said Americans were hit hardest as stocks and bonds fell in value. That was partly offset by prices of houses and some other assets rising.

Organizations: UBS, Credit Suisse

☆ BOJ tweak stirs yen volatility; dollar stays down after US data
▼ + stars: | 2023-07-28 | by ( Laura Matthews | ) www.reuters.com time to read: +4 min

[1/3] Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. Whipsawing as traders digested the decision, the Japanese yen weakened 1.13% versus the greenback and was last at 141.05 per dollar in the New York afternoon session. U.S. annual inflation in June increased by the smallest amount in more than two years, with underlying price pressures moderating. CENTRAL BANK WEEKEarlier this week, the Fed and the European Central Bank announced interest-rate hikes, as expected. The ECB raised the possibility of a pause in September as inflation pressures show tentative signs of easing with recession worries mounting.

Persons: Florence Lo, Karl Schamotta, Adam Button, Jerome Powell, Sterling, bitcoin, Laura Matthews, Amanda Cooper, Alun John, Ankur Banerjee, Jonathan Oatis, Matthew Lewis Organizations: U.S, REUTERS, Bank of Japan, New York, Bank of, Federal Reserve, Commerce Department, ForexLive, Federal, CENTRAL, Fed, European Central Bank, ECB, Thomson Locations: Whipsawing, New, Corpay, Toronto, Japan, Bank of Japan, New York, London, Singapore

☆ The Bank of Japan just shocked markets with a policy tweak — here's why it matters
▼ + stars: | 2023-07-28 | by ( Silvia Amaro | ) www.cnbc.com time to read: +5 min

Kazuo Ueda, governor of the Bank of Japan (BOJ). Bloomberg | Bloomberg | Getty ImagesThe Bank of Japan announced Friday "greater flexibility" in its monetary policy — surprising global financial markets. The central bank loosened its yield curve control — or YCC — in an unexpected move with wide-ranging ramifications. When asked if the central bank had shifted from dovish to neutral, he said: "That's not the case. MUFG said that Friday's "flexibility" tweak shows the central bank is not yet ready to end this policy measure.

Persons: Kazuo Ueda, Shigeto Nagai, CNBC's, —, Duncan Wrigley, MUFG, Governor Ueda, Michael Metcalfe, Metcalfe Organizations: Bank of Japan, Bloomberg, Getty, of Japan, Nasdaq, Oxford Economics, disinflation, Capital Economics, U.S, U.S . Federal, Bank, Pantheon, Street Global Locations: Europe, Japan, U.S ., China, dovish

☆ The Supreme Court just ruled that $6 billion in student-loan forgiveness for 200,000 borrowers can move forward
▼ + stars: | 2023-04-13 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +3 min

The Supreme Court ruled that $6 billion in student-debt relief for 200,000 borrowers can move forward. Three schools named in the settlement had asked the Supreme Court to pause the relief. The lawsuit was first filed in 2019 under former President Donald Trump on behalf of borrowers with stalled borrower defense claims, or claims borrowers can file if they believe they were defrauded by the school they attended. The Ninth Circuit Court of Appeals rejected the request, and now, the Supreme Court came to the same conclusion. "The application for stay presented to Justice Kagan and by her referred to the Court is denied," the Supreme Court wrote in its very brief decision.

☆ Thousands of student-loan borrowers are facing 'obvious harm' if the Supreme Court agrees to halt the debt relief they already won in court, Biden's Education Department says
▼ + stars: | 2023-04-12 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

The Education Department pushed back on a lawsuit to halt student-debt relief for borrowers who said they were defrauded. A federal judge signed off on a settlement that would give those borrowers $6 billion in debt relief. The Education Department agreed to the settlement last summer, and in November, a federal judge signed off on $6 billion in debt relief for 200,000 borrowers. On Wednesday, the Education Department responded to the schools' appeal, and as expected, it told the Supreme Court that staying the relief will cause "obvious harm" for impacted borrowers and the department itself. The Supreme Court heard oral arguments in a case aiming to block that broader relief in February.

☆ Fed’s Tightening Plans Collide With SVB Fallout
▼ + stars: | 2023-03-14 | by ( Justin Lahart | ) www.wsj.com time to read: 1 min

The collapses of Silicon Valley Bank and Signature Bank give Federal Reserve policy makers two good reasons to hold off on raising rates when they meet next week. But the latest run of economic data can only serve to remind them why, until last week anyway, they planned to keep raising rates. Investors’ expectations for the Fed have been whipsawing this year. Early on there were hopes that cooler inflation would lead the Fed to raise its range on overnight rates by a final quarter point at its March meeting, and then go on hold. A monster January employment report and unexpectedly strong inflation reports changed that.

☆ Mortgage rates will drop to 5.2% this year despite the uptick this month, said a top economist
▼ + stars: | 2023-02-16 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +4 min

The Mortgage Bankers Association forecasts mortgage rates will fall to 5.2% from above 6% in 2023. The prediction rests on a drop in the 10-year Treasury-bond yield, which influences mortgage rates. For a few weeks, it looked like mortgage rates were well on their way to sub-6% levels. Despite the whipsawing rates, the Mortgage Bankers Association is sticking to its forecasts, Kan said. "A lot of people that bought or refinanced in 2020 and 2021 have 3% mortgage rates.

☆ An Iowa Farmer Tried to Dodge Stock-Market Turmoil. It Cost Him $900,000.
▼ + stars: | 2023-01-13 | by ( Jason Zweig | ) www.wsj.com time to read: 1 min

Over the past two years, bonds have lost almost 15% and stocks have barely gained 5%, whipsawing investors along the way. That’s what markets do. As a result, financial firms are pile-driving their clients into assets that have no market. Over the past two years, investors bought an astonishing $878.9 billion in so-called Regulation D private offerings of debt and equity that don’t trade, according to SLCG Economic Consulting, a research firm in McLean, Va.

☆ Thought last year was bad for crypto? From FTX to Silvergate, the red flags are flying for the year ahead.
▼ + stars: | 2023-01-06 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

Those realizations came to head repeatedly in 2022 as crypto hacks and a wintry bear market crescendoed with the collapse of Sam Bankman-Fried's FTX. On a macro level, persistent recession fears make speculative assets such as tokens or tech stocks less enticing. More notable is crypto bank Silvergate's nearly 50% plunge Thursday, and the company's announcement it would cut 40% of its staff. Job cuts at Amazon and Salesforce signal the first necessary step in staging a turnaround for tech stocks. All told, analysts predict layoffs could catalyze a 20% rally for tech stocks in 2023.

☆ Bob Iger's return may not boost Disney's shares as market sends mixed signals to media stocks
▼ + stars: | 2022-11-21 | by ( Michael Santoli | ) www.cnbc.com time to read: +3 min

This is the daily notebook of Mike Santoli, CNBC's senior markets commentator, with ideas about trends, stocks and market statistics. Valuations are less demanding than several months ago, which is probably fair for the average stock but fuller at the index level thanks to still-rich megacaps. Treasurys rising again at the longer end, sinking the yield curve further, while the dollar rebounds a bit — both risk-averse actions. The current economic activity levels are not observably recessionary, but the yield curve and its historical record of preceding recessions is in investors' head. Here is the enterprise value-to-forward-cash-flow ratios of Disney vs. Netflix .

☆ GOLDMAN SACHS: Investors can book quick profits with timely options trades on these 18 stocks that could be volatile after Tuesday's midterm elections
▼ + stars: | 2022-11-06 | by ( Marley Jay | ) www.businessinsider.com time to read: +2 min

Vishal Vivek of Goldman Sachs says next week's US elections could lead to more volatility. He say investors should use straddles to bet on outsize moves in individual stocks. That means investors are overlooking the potential for moves in individual companies, he said. That includes both the federal elections and state-level measures, which tend to be lower-profile but can be very significant for individual companies. Vivek says the 18 options trades below are attractively priced, and can be executed by November 18 based on a handful of potential drivers listed below.

☆ Retailers are gearing up for 'aggressive discounting' on electronics, cars, and more as they've stockpiled the most stuff to sell in 30 years, Morgan Stanley says
▼ + stars: | 2022-10-11 | by ( Ben Winck | ) www.businessinsider.com time to read: +4 min

With demand cooling off and supply still growing, companies are looking to discount, Morgan Stanley said. That powered prices higher at the fastest pace since the 1980s. Supply chain snags are clearing at the same time that demand is slowing, Morgan Stanley economists led by Ellen Zentner said in a Monday note to clients. As such, firms are set to slash prices through the last months of 2022 and into early 2023, Morgan Stanley said. Businesses enjoyed once-in-a-generation pricing power through the pandemic recovery as extraordinary demand and supply-chain bottlenecks dragged inventories to extreme lows.

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