Banking

Bloomberg A record amount of collateralised loan obligations will be eligible to be reset or refinanced next month, potentially putting more pressure on prices. But the concerns may be for naught as the malaise weighing on credit markets could derail part of the push. More than $52 billion of CLOs originally issued in 2017 and 2018 could be refinanced or ...

Bloomberg Swedish activist investment firm Cevian Capital has built a 2.3 percent stake in Nordea Bank Abp in a move that may put pressure on the Nordic region’s largest bank to improve its revenue development and profitability. Cevian’s comment that it “sees significant value potential in Nordea” and that it “will work with Nordea’s owners, board and management to realise ...

Bloomberg Limbo—that’s where to find Wall Street when it comes to cryptocurrencies. Squeamish from the start about pursuing profits in one of the darker corners of finance, established firms this year slowed their already halting efforts to make a business out of Bitcoin mania. While none has thrown in the towel, and some continue to develop a trading infrastructure, most ...

Bloomberg US President Donald Trump renewed his attacks on the Federal Reserve, commenting publicly on the central bank for the first time following last week’s interest-rate hike and reports he has discussed firing Chairman Jerome Powell. “The only problem our economy has is the Fed. They don’t have a feel for the Market, they don’t understand necessary Trade Wars or ...

Bloomberg Currency strategists are convinced that 2019 will be the year of the euro. Money managers and traders aren’t buying it. Morgan Stanley, Credit Agricole SA and Toronto Dominion Bank are all calling for the common currency to surge next year as investors shift focus away from an overvalued dollar. That’s not a view shared by Janus Henderson Group Plc ...

Bloomberg Wells Fargo cut estimates for stocks next year on concern the Federal Reserve is making a policy mistake that will throttle economic growth. Chris Harvey, head of equity strategy at the bank, cut his year-end target for the S&P 500 Index to 2,665 from 3,079. While new forecast represents a 10 percent gain from current levels, he replaced Michael ...

Bloomberg China’s central bank reached into the toolkit of its peers around the world, announcing a new facility to encourage bank lending to companies that looks very similar to what others have done. The People’s Bank of China is trying to balance competing demands of a debt crackdown and ensuring that banks lend to support growth. The clampdown has made ...

Bloomberg The latest data on Russian inflation are sending up warning signals that the first few months of 2019 could be even more hazardous than most economists had predicted. The latest weekly numbers indicate that Russia might end up starting next year with price growth around the central bank’s worst-case forecast of 4.2 percent, according to economists at ING Groep ...

Bloomberg Financial-market turbulence is supposed to be a good thing for Wall Street trading desks — not so this quarter. Banks are struggling to capitalise on tumult across stock, bond and currency markets, in part because many investors are staying on sidelines as year-end approaches. Another culprit: dramatic but short-lived swings in asset prices that are striking some of their ...

Bloomberg Rwanda’s central bank set out more stringent capital requirements for financial-services companies in the East African nation and announced a change in its monetary-policy framework to better accommodate the country’s requirements. Commercial banks need 20 billion francs ($23 million) of paid-up capital, four times the current requirement of 5 billion francs, while development lenders will need 50 billion francs, ...