JPMorgan Defends Regional Banks Even as Negative Sentiment Hits 2008 Highs
The extreme skepticism over regional bank stocks has gone so far that it prompted one of the few holdouts on Wall Street to turn bullish on a trio of the hardest-hit lenders.
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Hot Jobs Report Raises Odds Fed Keeps Rates Higher for Longer
The unexpected pickups in US hiring and wages last month increase chances the Federal Reserve will hold interest rates high for longer and potentially keep the door open to an 11th straight hike in June.
Western Digital Customer Data, Credit Cards Accessed in Hack
Western Digital Corp. said hackers got access to an internal database for its online store which contained personal information such as names, addresses and partial credit card details of customers.
Creditor Fights Only Benefit Lawyers, Corbin CIO Says
The rise of fights among creditors is ultimately a zero-sum game that only benefits lawyers, according to Craig Bergstrom, the chief investment officer of Corbin Capital, which manages around $8.5 billion.
‘No One Wants to Be Short’ Into Weekend Is Mantra Driving Bank Rally
Friday’s staggering rally in the shares of beleaguered regional banks may have a simple explanation: short-covering.
Treasury Yields Jump as Employment Data Cools Rate-Cut Fever
Treasury yields leaped Friday after US employment data for April tamped down expectations that the Federal Reserve will soon reverse this week’s interest-rate increase and as shares in regional banks rebounded.
US Consumer Borrowing Climbs on Surge in Credit Card Balances
US consumer borrowing increased in March by more than expected on one of the largest spikes in credit-card balances on record.
Ecuador President Shouldn’t Be Impeached, Committee Draft Finds
Ecuador’s National Assembly should not impeach President Guillermo Lasso, according to a draft report summarizing testimony from initial hearings before the congressional oversight committee.
Oil Slumps for a Third Week as Recession Fears Rattle Market
Oil fell for the third straight week as concerns about softening demand were exacerbated by low trading volumes.
Canadian Dollar Having Its Best Day This Year on Job Growth, Oil
The Canadian dollar is finding renewed strength after a period of consolidation.