Banking

Bloomberg The Bank of Japan (BOJ) offered to buy an unlimited amount of bonds for a third time in a week after the benchmark 10-year yield rose to an almost 18-month high ahead of the central bank’s policy decision on Tuesday. The offer, made at 0.1 percent for the five-to-10 year maturities, drew some 1.6 trillion yen ($14.4 billion) of ...

Bloomberg Bank of America (BofA) is recruiting to potentially double the size of its specialist sales staff in the US and Europe, according to two people familiar with the efforts. The bank is looking to add four to six positions — which help clients act on the firm’s research ideas — in addition to the six specialist salespeople it already ...

Bloomberg People charged with running or monitoring the world economy are set for a busy week before those in the Northern Hemisphere get to enjoy their summer vacations. Central bankers in the US, Japan, the UK, Brazil and India all meet to set their respective monetary policies at a time when Eric Oynoyan, senior European interest-rate strategist at BNP Paribas ...

Bloomberg India’s central bank is on course to raise interest rates for a second consecutive policy meeting as it takes more decisive steps to rein in inflation and stem capital outflows. With inflation running well above the central bank’s medium-term target of 4 percent — and the outlook set to worsen as oil prices stay elevated and the currency slides ...

Bloomberg There’s a lot of cash swishing about in the Nordic region and that leaves plenty of potential for more mergers and acquisitions, according to JPMorgan Chase & Co. “There’s massive amounts of dry powder both on the corporate side, where cash balances are very good, and on the private equity side, where we see a lot of activity,” said ...

Bloomberg Banco Santander is riding Spain’s economic recovery and rising demand for loans, helping offset emerging market currency volatility and the UK slowdown. Net income of 1.7 billion euros ($2 billion) beat analyst’s estimates in the second quarter, with earnings up in Brazil even after the real tumbled. In Spain clients took advantage of the economic upswing to take on ...

Bloomberg Some Chinese banks have received notice from regulators that a specific capital requirement will be eased in order to support lending, as the authorities try to mitigate increasing risks to the economy from the trade war. The People’s Bank of China told some institutions on Wednesday that the so-called “structural parameter” in the Macro-Prudential Assessment of their balance sheets ...

Bloomberg Nomura Holdings Inc.’s first-quarter profit plunged to the lowest in two years as its wholesale business lost money thanks to a slump in fixed-income trading, while the domestic retail operation lost steam. Net income fell 91 percent to $47 million in the three months ended June 30 from a year earlier, Japan’s biggest brokerage said. The firm posted its ...

Bloomberg Two of the world’s biggest money managers are diverging in their views on whether the Bank of Japan will tweak its ultra-loose monetary policy as early as next week. Japan’s central bank may surprise investors with some fine tuning of its stimulus policy when it meets on July 31, according to BlackRock Inc. Not so, said Vanguard Group Inc., ...

Bloomberg India’s foreign exchange reserves may soon drop below the $400 billion mark for the first time since November as the central bank steps up action to shore up one of Asia’s worst-performing currencies. Reserves have steadily declined by $21 billion from a record peak of $426 billion in mid-April, and official data showed it was little changed in the ...