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The majority of Wall Street investors now favor stocks that pay big dividends for a relatively stable source of income, according to the new CNBC Delivering Alpha investor survey. We polled about 400 chief investment officers, equity strategists, portfolio managers and CNBC contributors who manage money about where they stood on the markets for the second quarter and forward. Asked which area to concentrate on to start the second quarter, 34% of respondents said high dividend stocks. Stocks with high dividend payouts can provide a reliable stream of income during times of uncertainty. Some of the most popular exchange-traded funds that focus on high dividend stocks include the Vanguard Dividend Appreciation ETF , the Vanguard High Dividend Yield ETF and the Schwab U.S. Dividend Equity ETF .

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, March 28, 2023. Brendan McDermid | ReutersWall Street investors believe the stock market is headed for losses after a positive first quarter, seeing cash as the best safe haven right now, according to the new CNBC Delivering Alpha investor survey. Zoom In Icon Arrows pointing outwardsThe Fed enacted a quarter percentage point interest rate increase last week, while signaling one more rate hike coming this year. Many investors believe the central bank should reverse course immediately as more rate hikes will exacerbate banking problems and cause a severe economic slowdown. With an overall bearish view on the market, 60% of the investors said cash is their safe haven right now.

☆ Four Bankers Convicted in Case of Putin’s Cellist Friend
▼ + stars: | 2023-03-30 | by ( Patricia Kowsmann | Margot Patrick | ) www.wsj.com time to read: 1 min

Switzerland has for decades provided shelter for the money and assets of Russian oligarchs. A Zurich court found four Gazprombank bankers guilty of not conducting proper checks when opening accounts linked to a close friend of Russian President Vladimir Putin years ago. The four men face fines ranging from 48,000 Swiss francs to 540,000 francs, the equivalent of $52,000 and $590,000, respectively, and two years of probation, the court said Thursday. If they behave in that period, they don’t have to pay the fines.

President Joe Biden has said he will sign the measure if it passes both the Senate and House and reaches his desk. Supporters of repeal also said it recognized that Iraq is no longer an adversary but has become a U.S. security partner. The resolution also would repeal the Gulf War AUMF approved in 1991 after Saddam's Iraq invaded Kuwait. The Iraq AUMFs have been labeled "zombie" authorizations because they never expire but their original purpose no longer applies. In 1971, Congress voted to repeal the Gulf of Tonkin Resolution, which had provided authority for the Vietnam War.

[1/2] Senator Bob Menendez (D-NJ), speaks during a Senate Foreign Relations Committee hearing on the Fiscal Year 2023 Budget at the Capitol in Washington, U.S., April 26, 2022. The bill is led by Senator Bob Menendez, chairman of the Senate Foreign Relations Committee, and Representative Gregory Meeks, the ranking Democrat on the House of Representatives Foreign Affairs Committee. Under U.S. law, the chair and ranking member of the Foreign Relations and Foreign Affairs committees review major weapons transfers. They often take human rights into account and at times seek to delay or block planned sales. For example, Menendez opposes the sale of Lockheed Martin F-16 aircraft to Turkey for reasons including its record on human rights.

☆ Deutsche Bank Selloff Focuses Attention on Credit-Default Swap Market
▼ + stars: | 2023-03-29 | by ( Anna Hirtenstein | Patricia Kowsmann | ) www.wsj.com time to read: 1 min

Last week’s selloff in Deutsche Bank AG shares and bonds has drawn attention from regulators—and sparked broad debate about whether credit-default swaps caused the market stress, or simply reflected investor unease. The instruments are derivatives that effectively insure the holder against a corporate default. The cost of insuring Deutsche Bank’s debt against default in this way surged late last week, helping fuel an 8.5% decline in the bank’s Frankfurt-traded stock on Friday. The episode had echoes of a social-media frenzy around Credit Suisse Group AG last fall, in which default-swap pricing also fed into a broader loss of confidence.

WASHINGTON, March 29 (Reuters) - A majority of the U.S. Senate backed legislation on Wednesday to repeal two decades-old authorizations for past wars in Iraq, as Congress pushes to reassert its role over deciding whether to send troops into combat. The Senate voted 66-30 in favor of legislation to repeal the 1991 and 2002 Authorizations for the Use of Military Force, or AUMFs, well above the 51 vote majority needed to pass the measure that would formally end the Gulf and Iraq wars. To become law, the repeal of the two Authorizations for the Use of Military Force, or AUMFs, must still pass the Republican-led House of Representatives, where its prospects are less certain. All of the votes against repeal in the Senate were from Republicans and the party's leader in the chamber Mitch McConnell issued a statement opposing it. It was also lawmakers' latest effort to reclaim Congress' authority over whether troops should be sent into combat, which backers of the repeal said had been improperly ceded to the White House as the Senate and House of Representatives passed and then failed to repeal open-ended war authorizations.

☆ US senator's hold on military nominations hurts readiness -Pentagon chief
▼ + stars: | 2023-03-28 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, March 28 (Reuters) - A U.S. senator's decision to hold up the nomination of senior military officials over the Pentagon's abortion policy will have a ripple effect and hurt readiness, U.S. Defense Secretary Lloyd Austin said on Tuesday. Republican Senator Tommy Tuberville, a former college football coach, has been blocking military nominations from moving forward since last month because he believes the Pentagon is improperly using funding to cover travel costs for abortions of service members. Senior military nominations are approved by the committee and eventually the Senate. "It shouldn't have to be said, but the senator from Alabama's hold of hundreds of routine military promotions is reckless, it damages the readiness of our military, and puts American security in jeopardy," Schumer said on Monday. Reporting by Idrees Ali and Phil Stewart; Additional reporting by Patricia Zengerle; Editing by Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

Under the Constitution, Congress, not the president, has the right to declare war. But to allow a president to respond to a threat, the Senate and House of Representatives can pass an AUMF. Members of Congress are not - for now - targeting a third AUMF, which passed days after the Sept. 11, 2001, attacks. WILL THE REPEAL PASS THIS TIME? Congress has tried and failed to repeal AUMFs repeatedly over the past 10 years.

☆ How First Republic's courtship of the wealthy led to meltdown
▼ + stars: | 2023-03-27 | by ( Lawrence Delevingne | ) www.reuters.com time to read: +6 min

March 27 (Reuters) - First Republic Bank (FRC.N) became the epicenter of the U.S. regional banking crisis after the wealthy clients it courted to fuel its breakneck growth started withdrawing deposits and left the bank reeling. Reuters GraphicsFor years, First Republic lured high net-worth customers with preferential rates on mortgages and loans. Morgan Stanley analysts estimated a deposit outflow of nearly half of total deposits according to a March 20 note. First Republic's loan book and investment portfolio also became less valuable as interest rates rose, which is hampering a capital raise. "Wealthy customers were drawn to First Republic in part because they could get large mortgages at rock-bottom interest rates," said McCoy.

WASHINGTON, March 27 (Reuters) - The U.S. Senate voted overwhelmingly on Monday to advance legislation to repeal two decades-old authorizations for past wars in Iraq, as Congress pushed to reassert its role over deciding whether to send troops into combat. Under the Constitution, Congress, not the president, has the right to declare war. Proponents of the current bill call the 1991 and 2002 Authorizations for the Use of Military Force, or AUMFs, against Iraq "zombie" authorizations. They say they are outdated and inappropriate, given that the wars are long over and Iraq is now a U.S. partner. This month marked the 20th anniversary of the start of the 2003 Iraq war.

☆ A school shooting victim's protesting parents were hauled out of Congress by Capitol police last week. Now another mass shooting has left 3 adults and 3 more children dead.
▼ + stars: | 2023-03-27 | by ( Chris Panella | ) www.businessinsider.com time to read: +2 min

A Parkland victim's parents were taken out of Congress last week, days before another mass shooting. Manuel and Patricia Oliver interrupted a House gun regulations committee hearing last Thursday. Now, just days later, another mass shooting has left three schoolchildren and three adults dead in Nashville, Tennessee. Manuel and Patricia Oliver, parents of 17-year-old Parkland, Florida, shooting victim Joaquin Oliver, attended a House committee hearing on gun regulations last Thursday, NBC reported. The mass shooting marks the 129th recorded this year, according to Brady, a non-profit working to prevent gun violence.

☆ Argentina ex-President Macri says he will not be candidate in upcoming elections
▼ + stars: | 2023-03-26 | by ( ) www.reuters.com time to read: +2 min

[1/2] Soccer Football - FIFA World Cup Qatar 2022 - Group C - Poland v Argentina - Stadium 974, Doha, Qatar - November 30, 2022 Former President of Argentina Mauricio Macri REUTERS/Jennifer Lorenzini/File PhotoBUENOS AIRES, March 26 (Reuters) - Former Argentine President Mauricio Macri said on Sunday that he will not be a presidential candidate in the country's October general elections, as the opposition coalition moves to confirm its candidates. Opposition candidates Buenos Aires Mayor Horacio Rodriguez Larreta and former Security Minister Patricia Bullrich applauded Macri's decision not to run. "I will not be a candidate in the next election," Macri said in a video posted on social media on Sunday. Although Macri had previously suggested he would not run for the October elections, other opposition members speculated he would still announce his candidacy. The opposition coalition appears poised to garner more support than the ruling party, which has not yet defined its candidate amid major internal disputes between Fernandez and his Vice President Cristina Fernandez.

☆ How European Businesses Survived the Ukraine War and Last Year’s Energy Shock
▼ + stars: | 2023-03-25 | by ( Tom Fairless | Photographs Patricia Kuhfuss For The Wall Street Journal | ) www.wsj.com time to read: 1 min

Claas, a manufacturer of agricultural machinery, increased output at its main German factory by 30% last year. HARSEWINKEL, Germany—When Russia invaded Ukraine, Russian President Vladimir Putin was counting on soaring energy prices and falling confidence to sink European companies, undermining the West’s support for Kyiv. One year on, many European companies have overcome the blow after slashing energy use and pivoting to a friendly and booming U.S. market. Such resilience has helped shore up political and popular support in Europe for Ukraine.

☆ Deutsche Bank Stock Tumbles on Contagion Fears
▼ + stars: | 2023-03-24 | by ( Patricia Kowsmann | Anna Hirtenstein | ) www.wsj.com time to read: 1 min

Shares of Deutsche Bank fell as much as 15%, though they later regained some ground. Investors sparked a furious selloff in Deutsche Bank AG and thrust one of Europe’s most important lenders into the center of concerns about the health of the global financial system. Shares of Germany’s largest lender tumbled as much as 15%, their third consecutive day of losses, though they later regained some ground and were recently down 10%. The cost to insure against its default using credit-default swaps soared to their highest levels since 2020.

☆ Deutsche Bank Stock Falls on Contagion Fears
▼ + stars: | 2023-03-24 | by ( Patricia Kowsmann | Anna Hirtenstein | ) www.wsj.com time to read: 1 min

Investors sparked a selloff in Deutsche Bank AG and thrust one of Europe’s most important lenders into the center of concerns about the health of the global financial system. Shares of Germany’s largest lender tumbled as much as 15%, their third consecutive day of losses, though they later regained some ground and closed down 8.5%. The cost to insure against its default using credit-default swaps soared to the highest levels since 2020.

☆ Gen Zers are basing their travel plans on where TV shows like 'The White Lotus' are set
▼ + stars: | 2023-03-24 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

Gen Zers and millennials are turning to movies and TV shows for travel inspiration in a trend dubbed set-jetting. This includes a boom in bookings for the hotels in Hawaii and Italy "The White Lotus" was filmed at. In particular, travelers have been scrambling to visit the resorts where the first two seasons of HBO's hit "The White Lotus" were set. When season one was broadcast, web traffic to the Four Seasons Maui resort increased 425% year-over-year, Four Seasons told Bloomberg. To visit the Taormina hotel for a week in July, many of the lower-priced options have already sold out and two-person rooms start at around $3,500 per night.

A version that was leaked earlier this year showed that Brussels was preparing to shorten an additional period of intellectual property protection, known as data exclusivity, which comes on top of drug patent protection. "The duration of data exclusivity, which may be reduced, could actually have a catastrophic impact for Europe," he said. He said the intentions of Brussels lawmakers - improving patient access to innovative drugs while making the European pharma sector more competitive - were noble but any shortening of intellectual property protection would have the opposite effect. Bayer shares lag'HIGHLY ATTRACTIVE'In the United States, a different set of drug market rule changes are underway, with some of the highest-selling products set to see negotiated price discounts under the Inflation Reduction Act (IRA). Among the biggest drivers was the company's decision to prepare a U.S. launch of its next-generation stroke prevention drug asundexian on its own.

FRANKFURT, March 24 (Reuters) - Bayer (BAYGn.DE) said the focus of its drug research would shift away from women's health, a traditional pillar of Germany's largest drugmaker, to hone in on neurology, rare diseases and immunology. "When it comes to research and the subsequent clinical phases, we will no longer have an explicit focus on women's health," the head of Bayer's pharmaceuticals unit, Stefan Oelrich, told Reuters on Friday. The shifted focus comes as Bayer is due to have a change at the top in June. Bayer, which acquired a large women's health business under the 2006 takeover of Schering Pharma, will focus drugs research on oncology, cardiovascular disease, neurology, rare diseases and immunology, the company said in a statement. Research efforts in immunology could still yield products in women's health but Bayer's dedicated work on the therapeutic area overall had fallen short of expectations, he said.

WASHINGTON, March 24 (Reuters) - Democratic and Republican U.S. senators urged the Biden administration on Friday to share information with the International Criminal Court that could assist as it pursues war crimes charges against Russian President Vladimir Putin. Last week, the court issued an arrest warrant for Putin, accusing him of the war crime of illegally deporting hundreds of children from Ukraine. The legal move will obligate the court's 123 member states to arrest Putin and transfer him to The Hague for trial if he sets foot on their territory. Although the United States is not a party to the ICC, Biden said last week that Putin has clearly committed war crimes, adding that the ICC warrant was justified. Reporting by Patricia Zengerle; Editing by Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.

Representative Tim Burchett, a Republican member of the Foreign Affairs Committee, asked Blinken why U.S. funds are going to pay pensions in Ukraine when there is talk about funding for the Medicare government health insurance system. Blinken acknowledged the "generosity of American taxpayers," but said the burden had been shared by more than 50 other countries. The United States has committed $32 billion of security assistance for Ukraine, but $22 billion has been committed by other countries. And Washington has sent $2 billion in humanitarian assistance, but other countries have sent $3.5 billion, Blinken said. "If we pulled the plug on that, either ourselves or allies and partners, it would have disastrous consequences for Ukraine," Blinken said.

☆ Parkland parents forcibly removed, arrested at U.S. House hearing on gun control
▼ + stars: | 2023-03-23 | by ( Moira Warburton | ) www.reuters.com time to read: +1 min

WASHINGTON, March 23 (Reuters) - The parents of one of the 17 people killed in a 2018 mass shooting at a high school in Parkland, Florida, were forcibly removed on Thursday from a U.S. House of Representatives hearing on guns, videos showed. Manuel Oliver was pinned to the ground outside the hearing and arrested by Capitol Hill Police. His wife, Patricia Oliver, was also removed from the hearing by police. The Olivers' son, Joaquin, was 17 when he was killed by a mass shooter at Marjorie Stoneman Douglas High School. The incident led to a mass movement among youth and parents of gun violence victims to push for stricter gun laws in the United States.

And I'm prepared to serve this," Representative Michael McCaul told Secretary of State Antony Blinken as he testified to the committee about the department's budget request. McCaul has launched an investigation into the messy withdrawal from Afghanistan and events in the country since. McCaul sent a letter to Blinken this week requesting the information before Thursday. Blinken responded at Thursday's hearing that the department is working to provide as much information as possible. Blinken told the committee that several Americans were being held in Afghanistan, but they were not being identified at their families' request.

ZURICH—The chairman of Switzerland’s largest bank received an urgent call last week. UBS Group AG needed to rescue its failing rival, Credit Suisse Group AG. For Switzerland, the stakes verged on existential. Its economic model and national identity, cultivated over centuries, were built on safeguarding the world’s wealth. Switzerland itself needed rescuing.

Last year it breached liquidity requirements at some of its entities after an unsubstantiated social media report sparked client exits. In the U.S., the decision to insure all bank deposits after SVB was shuttered surprised many. QUICKLY DISAPPEARSome in the banking industry play down the risks of another SVB-style downfall spurred by social media. Regulators will also need to monitor social media and develop a set of protocols to guide how they respond, according to Patricia McCoy, a law professor at Boston College. "They need to be looking for any signs of unsubstantiated rumors, panic starting to mount on social media, and they've got to do it around the clock," she said.

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