The Fed is expected to raise its benchmark rate. Google releases its AI product Bard for testing. Nike sees momentum in China after a Covid-driven slump. Here are the most important news items that investors need to start their trading day: Decision day is here. Will the Federal Reserve raise its benchmark rate by another … Read more
British households continue to contend with high food and energy bills, while workers across a range of sectors have launched mass strike action in recent months. The Bank of England has been hiking interest rates aggressively in a bid to rein in inflation and will announce its latest monetary policy decision on Thursday. U.K. inflation … Read more
US Treasury Secretary Janet Yellen testifies before the Senate Finance Committee on the proposed budget request for 2024, on Capitol Hill in Washington, DC, March 16, 2023. Andrew Caballero-reynolds | Afp | Getty Images Treasury Secretary Janet Yellen said Tuesday the government is ready to provide further guarantees of deposits if the banking crisis worsens. … Read more
Here are the most important news items that investors need to start their trading day: 1. Relief rally UBS’ “shotgun wedding” with Credit Suisse might have done the trick, at least for now, as U.S. equities markets rallied Monday following the latest moves to shore up the global banking system. Now, Wall Street’s focus is … Read more
A credit crunch is a significant tightening of lending standards among banks. Loans are harder to get and become more costly. The banking crisis triggered by the failures of Silicon Valley Bank and Signature Bank will likely lead small and midsize institutions to prioritize having a healthy balance sheet. The prospect of recession led banks … Read more
Illustration: Aïda Amer/Axios The Fed has three overarching goals: stable prices, maximum employment and financial stability. Right now, it is failing at No. 1 and risks falling short on No. 3. However, the great dilemma it faces is that its anti-inflation tools work at cross purposes with the ones it uses to prevent a financial … Read more
The Federal Reserve likely will approve a quarter-percentage-point interest rate increase next week, according to market pricing and many Wall Street experts. A rate increase would come just over a week after the Fed other regulators rolled out an emergency lending facility to halt a crisis of confidence in the banking industry. “This might be … Read more
Credit Suisse is currently undergoing a massive strategic overhaul in a bid to address chronic issues. The stock has been in persistent decline since the crisis, against the backdrop of investment banking underperformance and a litany of scandals and risk management failures. On Wednesday evening, Credit Suisse announced that it would exercise its option to … Read more
Markets fell as the banking sector suffered more losses. Federal authorities are probing the collapse of Silicon Valley Bank. Diamond Sports files for bankruptcy protection. Here are the most important news items that investors need to start their trading day: So much for that rebound. After bank stocks helped lead a Tuesday turnaround on Wall … Read more
Bitcoin is up 50% this year despite the collapse of major crypto-focused banks, beating major stock indexes and commodities. On Jan. 1, bitcoin began trading at just over $16,500. On Wednesday, it was hovering around the $25,000 mark, thanks to a rally that began on Sunday. The recent rise has come as somewhat of a … Read more