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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvestors should prepare for a volatile market in January, says BofA's Savita SubramaniaSavita Subramanian, head of U.S. equity and quantitative strategy at Bank of America Securities, joins CNBC's 'Squawk Box' to break down potential investment opportunities ahead of the open.
Fed policy continues to concern oil markets
  + stars: | 2022-12-05 | 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 EmailFed policy continues to concern oil marketsFrancisco Blanch, head of global commodity and derivative research for Bank of America securities, and Kevin Book, managing director at Clearview Energy Partners, join 'Power Lunch' to discuss global supply and demand of oil, impacts of the European Union's price cap, and key takeaways from the latest OPEC meeting.
Nov 10 (Reuters) - D.C. Attorney General Karl Racine on Thursday announced his office was suing Washington Commanders owner Dan Snyder, the team, the NFL and Commissioner Roger Goodell for colluding to deceive residents about an investigation into a toxic workplace culture. "We allege Dan Snyder, the Commanders, Roger Goodell, and the NFL misled the public about what was being done to address the allegations of harassment and the toxic culture the Commanders maintained," Racine said. REUTERS/Jonathan Ernst 1 2 3"They did all of this to hide the truth, protect their images and let the profits roll." The Commanders and the NFL did not immediately respond to a request for comment. read moreReporting by Rory Carroll in Los Angeles, editing by Ed OsmondOur Standards: The Thomson Reuters Trust Principles.
CNN —DC Attorney General Karl Racine announced a lawsuit against embattled Washington Commanders owner Dan Snyder, the team and the NFL on Thursday, alleging they colluded to deceive DC residents about an NFL investigation into the team’s toxic workplace culture and allegations of sexual assault. The lawsuit cites the District of Columbia’s Consumer Protection Procedures Act, which gives the Attorney General broad authority to hold individuals or a company accountable for misleading customers. At the same time, Snyder and the team tried to interfere with and obstruct the investigation, the lawsuit states. The Attorney General said the penalties could run into the millions of dollars. Robinson’s agent Ryan Williams tweeted his displeasure with the Commanders’ statement on Wednesday night.
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDisney has positive catalysts coming up and that's why we're sticking with buy rating, says BofA's EhrlichJessica Ehrlich, Bank of America Securities, joins 'Closing Bell' to discuss Disney's stock moves after the company's earnings results, positive catalysts for the stock and questions around Disney's path to profitability.
Minneapolis CNN —The economy was top of mind for voters in the midterm elections, exit polls showed, adding even more weight to a highly anticipated inflation report due out on Thursday. However, higher energy prices likely pushed up monthly inflation by 0.6%. Additionally, the latest inflation numbers could benefit from the way the Bureau of Labor Statistics tabulates the index. To calculate medical services prices, the agency uses health insurance providers’ retained earnings, or profit margins. Unlike in goods, where inflationary inputs include supply chains and commodity prices, the biggest input into service-providing industries is labor costs.
Banks and corporations use the market to manage interest rate risks and traders depend on it as reference for pricing other assets. To make a swap, market participants turn to a dealer or bank to facilitate the deal. DRAINEDPart of the issue is a lack of bond market supply. Last week, the RBA's head of domestic markets, Jonathan Kearns, noted the swaps market dysfunction. Nor are other swap markets globally seeing similar pressures.
CNN —Washington Commanders owner Dan Snyder is considering a sale of the team. Through a team statement on Wednesday, Dan and his wife, Tanya, announced that they hired Bank of America Securities “to consider potential transactions.”Snyder has been accused of fostering a “toxic workplace” by a House Oversight Committee investigating the Commanders owner. Last year, after an internal investigation by attorney Beth Wilkinson, the NFL fined the Commanders $10 million and Snyder handed control of the franchise’s daily operations to Tanya. Snyder has denied the accusations. The Commanders statement in full reads: “Dan and Tanya Snyder and the Washington Commanders announced today that they have hired BofA Securities to consider potential transactions.
The bank said historically, when the indicator was at current levels or lower, subsequent 12-month S & P 500 returns were positive 94% of the time and the median 12-month return was 22%. "We have found that Wall Street's consensus equity allocation has historically been a reliable contrarian indicator." Bank of America said a range of 60% to 65% represents the traditional "normal" equity allocation for a balanced fund. The S & P 500 is down more than 19% this year. The bank sees the S & P 500 ending the year at 3,600, about 6% lower from where it trades now.
China previously "sailed on" economically while other countries struggled, but the world's second largest economy may have a difficult path ahead, according to one strategist. "China has reached that level of its development where a lot of emerging markets typically find the going getting tougher," said Mark Jolley of CCB International Securities. He pointed to the trend of deglobalization, friction between the U.S. and China as well as the weak global economy. "On both sides of the Pacific we hear a lot of wishful thinking that decoupling will promote rather than hurt domestic growth. We disagree," Ethan Harris wrote in a BofA Global Research note published Friday.
HANOI, Oct 26 (Reuters) - Vietnam is preparing to loosen its tight leash on the dong currency, including possibly widening its trading band with the U.S. dollar again, in order to conserve its shrinking currency reserves, a source with direct knowledge of the matter said on Wednesday. The State Bank of Vietnam (SBV) has intervened to defend the currency, although it rarely discloses FX reserves data or the amount of dollars spent. Widening the band, which would allow the market to drive the currency lower without triggering so much FX reserves selling, was one possibility, the source said. Other measures to cushion the dong, without exhausting FX reserves, were also being discussed, he said, without providing further details. The source said the SBV was trying to conserve its dollars as the country's FX reserves had sunk to the International Monetary Fund's recommended level, which is at least three months of imports.
Food prices increased 0.8%, with the cost of food at home advancing 0.7% amid rises in all six major grocery store food groups. The war in Ukraine also poses an upside risk to food prices. In the 12 months through September, the CPI increased 8.2% after rising 8.3% in August, decelerating for a third straight month. The so-called core CPI is being largely driven by the higher costs for rental accommodation. The core CPI jumped 6.6% in the 12 months through September, the most since August 1982, after rising 6.3% in August.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThree factors that could drive oil prices higher, with Bank of America's Francisco BlanchFrancisco Blanch, head of global commodity and derivative research for Bank of America securities, joins 'The Exchange' to discuss geopolitical factors in supply and demand pushing oil markets higher.
It is the largest office REIT in Asia by area. Shares in the Embassy REIT closed at 354.42 Indian rupees on Friday in Mumbai, giving it a market capitalisation of $4.15 billion. Blackstone currently has a 32% stake in the Embassy REIT and at the current market value the proposed sale by Blackstone would represent 7.2% to 9.6% of its stake, according to Reuters calculations. ADIA INTERESTADIA is likely to pick up about $200 million of Blackstone's stake sale, with talks also ongoing with other possible investors, the first source said. For ADIA, the investment would expand its interest in the Indian office market.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe real challenge is how long these real estate market conditions last, says BofA's BhatiaBank of America Securities research analyst Mihir Bhatia joins 'Power Lunch' to discuss how much mortgage volumes will fall, if Bhatia's coverage universe can survive a fall in mortgage volumes and which companies have advantages in this environment.
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSoFi will get a tailwind from student loan refinancing next year, says BofA's Mihir BhatiaMihir Bhatia, Bank of America Securities analyst, joins 'Closing Bell' to discuss SoFi's pop after Bank of America's upgrade to buy.
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