Text size Total underwriting revenue at Jefferies was down by 62% as banks face tougher conditions. Amir Hamja/Bloomberg Wall Street just got a taste of what to expect when investment banks post second-quarter earnings next month and it isn’t happy. Jefferies Financial (ticker: JEF) posted results for its fiscal quarter …
Read More »Finance ministers put banking union plans on ice – POLITICO
Eurozone finance ministers mothballed plans on Thursday to complete the banking union — a decade-long project born out of the financial and the sovereign debt crises — settling for narrower improvements to the bloc’s rules for handling bank failures. Eurogroup chief and Irish Finance Minister Paschal Donohoe had hoped to …
Read More »BoE meeting poses some upside risk for the pound – MUFG
Next week, the Bank of England will have its monetary policy meeting. Analysts at MUFG Bank consider it poses some upside risk for the pound but they warn any rally should be short-lived in light of the still unfavourable UK cyclical backdrop. Key Quotes: “The GBP has been consolidating at …
Read More »Stocks to Watch: Reliance Industries, HDFC, banks, IIFL Finance, Bajaj Auto
NEW DELHI: Here is a list of stocks that could be in focus on Friday: Reliance Industries: A consortium of Reliance Industries Ltd (RIL) and buyout firm Apollo Global Management Inc. has emerged as the strongest contender to acquire Walgreens Boots Alliance Inc.’s Boots pharmacies unit in the UK. The …
Read More »Fed tigthening should result in dollar strength against most G10 currencies – Wells Fargo
US dollar strength will continue over the remainder of 2022 and over the course of 2023 according to analysts at Wells Fargo. They point out that despite more aggressive monetary tightening from central banks across the world, they believe the Federal Reserve will lead tightening and will continue to push …
Read More »Morgan Stanley’s Pick says a paradigm shift has begun in markets. What to expect
Trader on the floor of the NYSE, June 1, 2022. Source: NYSE Global markets are in the beginning of a fundamental shift after a nearly 15-year period defined by low interest rates and cheap corporate debt, according to Morgan Stanley co-President Ted Pick. The transition from the economic conditions that …
Read More »How To Boost Your Credit Score Before You Apply For A Mortgage
Select’s editorial team works independently to review financial products and write articles we think our readers will find useful. We earn a commission from affiliate partners on many offers, but not all offers on Select are from affiliate partners. If you’re thinking about buying a house sometime soon, it’s a …
Read More »Australian dollar might soften only moderately – Wells Fargo
Analysts at Wells Fargo forecast the AUD/USD pair at 0.7100 by the end of the second quarter, at 0.6900 by year-end and at 0.6800 by the first quarter of next year. They warn risks are tilted to the upside. Key Quotes: “After a steady rebound in growth in Q4-2021, labor market …
Read More »The Obstacles to a Digital Dollar Coin Are Bigger Than You Think
A U.S. central bank digital currency could bring many benefits, Federal Reserve Vice Chair Lael Brainard told Congress on Thursday. It would serve as the “neutral settlement layer in the digital financial ecosystem,” which in turn “would actually facilitate and enable private sector innovation,” she said. The idea of a …
Read More »Muthoot Finance sinks 9% on weak Q4 result; analysts bearish on stock
Shares of Muthoot Finance sunk 9.4 per cent to Rs 1,029 per share on the BSE in Friday’s intra-day trade after the gold financier reported a weak set of number for January-March quarter of FY22 (Q4FY22). At 10:30 AM, its shares quoted at Rs 1,060, down about …
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