Earnings Season: Shift in Focus from Banks to Tech Giants
Introduction With the conclusion of Alcoa's (AA) earnings release, it's time for the spotlight to shift from banks to the tech giants as they gear up to announce their third-quarter…
Chinese Banks Issue Smaller-Than-Expected New Loans in July
Chinese banks have issued a smaller-than-expected amount of new loans in July, indicating weak credit demand despite the government's efforts to encourage lending to businesses and households. Decrease in New…
U.S. Stock Indexes Open Lower as Moody’s Downgrades Banks
U.S. stock indexes started the day on a downward trend, with financial stocks taking a hit following Moody's decision to downgrade the credit rating of several small- to mid-sized U.S.…
Banks and Financial Institutions See Growth Despite Fed Interest Rate Hikes
Shares of banks and other financial institutions have experienced an increase as traders closely monitor comments from central bankers. Senior officials at the Federal Reserve have expressed hope that the…
Japan Banks on Covid-19 Recoveries to Upgrade Q2 Growth to 1.9%
(Cabinet Office) Japan’s gross domestic product grew at an annual rate of 1.9% in the second quarter, a higher estimate than the previous 1.3% increase. The revised growth estimate is…
China’s Banks to Hold 7% Forex Reserves to Control Ballooning Yuan
Chinese banks will hold 7% of foreign currencies in reserves, according to Bloomberg. The rate is a 2% increase and is the first in ten years aiming to counter the…
Fed: U.S Banks Robust During Pandemic as Leverage Remain Low
U.S banks have sailed the coronavirus pandemic well, according to the Federal Reserve press release. Bank and broker dealers have maintained low leverage, as life insurance companies and hedge funds…