Banking

  Bloomberg The year ahead will be better for European stocks than many think as inflation peaks and rates normalise, according to a Deutsche Bank AG strategist. “Although earnings are likely to fall in 2023, fewer macro risks and lower rate volatility should be supportive for equity markets,” Maximilian Uleer wrote in a cross-asset outlook note. Consensus is “overly pessimistic ...

  Bloomberg Citigroup Inc has trimmed India’s current account deficit forecast for the current financial year ending in March, after services exports grew unexpectedly and oil prices moderated. The shortfall in current account, the broadest measure of trade in goods and services, will probably be at 2.9% of gross domestic product, according to Citi’s India economist Samiran Chakraborty. That is ...

  Bloomberg Rupee-denominated bond sales are set to grind to a halt in a few days as India’s government upgrades an online portal used by companies to file regulatory documents. Starting from January 7, the Ministry of Corporate Affairs portal will be unavailable for companies to file a so-called PAS-3 form, or “return-of-allotment” form, as the administration migrates to a ...

  Bloomberg The Bank of Japan’s (BOJ) decision to double its 10-year yield ceiling was meant to improve market functioning. So far it’s triggered even heavier intervention from the central bank, threatening to reduce liquidity further in the local bond market. The BOJ announced a fourth day of unscheduled bond buying, offering to buy unlimited amounts of two- and five-year ...

Bloomberg The yen advanced to a six-month high versus the dollar as Japan’s decision to raise its bond-yield cap last month stoked bets the nation may tighten policy even more. The currency appreciated as much as 0.8% to 129.79 per dollar, surpassing the level of 130.41 set in August, and reaching the strongest since June. Gains were exacerbated due to ...

  Bloomberg Bank of Korea (BOK) Governor Rhee Chang-yong said the central bank will do its best to coordinate policy with the government to ensure the economy has a soft landing at a time when the country faces an array of headwinds from falling exports to a weakening property market. The BOK will monitor financial and foreign exchange markets closely ...

Bloomberg The dollar posted gains against nearly all its major peers as trading kicked off in 2023 after a seasonal holiday lull. Only the Japanese yen proved stronger than the greenback among Group-of-10 currencies, with the pound, euro and Swiss franc falling sharply. That saw the Bloomberg dollar spot index climb as much as 0.9%, putting it on track for ...

  Bloomberg The Swiss National Bank (SNB) made its first significant reduction of other currencies in more than a decade to shore up the franc as a firewall against imported inflation. The central bank cut its holdings of other foreign exchange by 739 million francs ($800 million) in the third quarter, following a 5 million-franc drop in the previous three-month ...

  Bloomberg The race to be Southeast Asia’s best-performing currency in 2023 looks like being between the Thai baht and Singapore dollar. The baht is set to be powered by an influx in Chinese tourists after the mainland rescinded most of its Covid controls over the past month, paving the way for a recovery in outbound travel. The mainland is ...

  Bloomberg Wells Fargo & Co nabbed a spot among the top 10 advisers on mergers and acquisitions last year, a first for the firm as it ramps up its investment bank under Chief Executive Officer Charlie Scharf. The bank ranked eighth in 2022, more than tripling its market share from the prior year and pulling off an increase in ...