September, 2021

• 29 September

  Stocks, futures fall amid spike in Treasury yields

  

  Bloomberg Stocks and US index futures declined as investors reassessed valuations in the wake of a spike in Treasury yields. Oil headed for multiyear highs amid a global supply crunch. Contracts on the Nasdaq 100 Index plunged 1.4%, signaling the technology-heavy gauge may extend the losses. S&P 500 futures fall 0.8%. The five-year Treasury yield rises above 1.03% and the ...

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• 28 September

  Shuaa Capital to deliver ₤2b worth of property developments in London

  

  ABU DHABI / WAM Shuaa Capital psc, the leading asset management and investment banking platform in the region, on Monday announced its intention to complete and deliver ₤2 billion worth of property projects in London through its wholly-owned subsidiary Northacre. Northacre is currently focused on completing its two key projects: No.1 Palace Street and The Broadway, both of which are ...

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• 28 September

  Central banks turning slowly to end pandemic’s easy money era

  

  Bloomberg Global monetary policy looks set to stay super easy well into 2022 even as central banks edge closer to dialing back their emergency support in the face of mounting inflation pressures. In the last week, the US Federal Reserve signaled it will start paring its massive bond-buying as soon as November and the Bank of England hinted for the ...

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• 28 September

  Top Thai lender rules out banking job cuts

  

  Bloomberg Siam Commercial Bank Pcl will maintain banking staff levels as Thailand’s biggest lender restructures its business spinning off some units into a new company. There will be no job losses at the banking operations, Chief Executive Officer Arthid Nanthawithaya said in Bloomberg Television interview on Monday. Siam Commercial will focus on profitability, fintech investments and other growth opportunities in ...

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• 28 September

  Regulator calls on Polish banks to tackle FX loans

  

  Bloomberg The Polish Supreme Court’s inability to provide guidance in Swiss franc-mortgage lawsuits gives local banks an opportunity to resolve their multi-billion zloty disputes directly with borrowers, according to the country’s financial markets regulator. The cases against about a dozen of Polish financial institutions, including PKO Bank Polski SA and Commerzbank AG’s unit MBank SA, have surged in recent months ...

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• 28 September

  Banks must turn to markets for money, says Sitharaman

  Bloomberg India’s banks need to raise funds from markets for their growth rather than depend on the government for recapitalisation, Finance Minister Nirmala Sitharaman said. “Banks are today less burdened because books are cleaner,” Sitharaman said at the annual general meeting of the Indian Banks’ Association. “As a result they will able to go and raise money from markets. I ...

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• 28 September

  Citigroup, JPMorgan seen evading Evergrande crisis in China push

  

  Bloomberg The biggest US banks appear to be sidestepping any fallout from the crisis at indebted developer China Evergrande Group that sparked a widespread selloff in stocks this week. Citigroup Inc has no direct lending exposure to Evergrande, a spokeswoman said. JPMorgan Chase & Co and Bank of America Corp also have no such links. Bank of America has no ...

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• 28 September

  Barclays sees challenges for muni market

  Bloomberg Pressure is building for the municipal-bond market after a selloff in US Treasuries this week, according to Barclays Plc. Rates market volatility is one of the challenges facing state and local debt performance in the near-term, according to a September 24 note by strategists Mikhail Foux, Clare Pickering and Mayur Patel. Municipal bonds have posted losses this week but ...

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• 28 September

  Italy, UniCredit making progress on Paschi sale by end-2021

  

  Bloomberg The Italian government and UniCredit SpA are making progress in talks on a deal for the takeover of troubled lender Banca Monte dei Paschi di Siena SpA and could sign a preliminary accord by the end of the year. The Rome-based Finance Ministry is working to meet UniCredit’s demands in a deal that may cost the state more than ...

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• 28 September

  European stocks, futures rise as traders weigh China risks

  

  Bloomberg European stocks and US index futures rise as investors assessed whether global growth can withstand a slowdown in China and a global energy crunch. Contracts on the S&P 500 Index advanced 0.3% after a three-day rally in US stocks. Treasury yields advanced as traders braced for speeches by Federal Reserve policy makers this week. Tightening oil supplies sent West ...

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