Banking/Credit

US Treasury sweetens the pot on I-bonds by adding a fixed rate

US Treasury sweetens the pot on I-bonds by adding a fixed rate

After record-breaking sales of I-bonds in October, the US Treasury is dangling another good deal in front of savers for the next six months. Starting Nov. 2, when I-bonds will be available again after site maintenance at TreasuryDirect.gov, the inflation-adjusted annualized rate will be 6.48%, down from 9.62%. But there will also be a 0.4% …

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Visa beats on earnings and boosts dividend by 20%

Visa beats on earnings and boosts dividend by 20%

Visa Inc. topped earnings expectations for its latest quarter Tuesday as the payments giant continued to call out strong consumer spending trends. Payments volume at Visa V, +1.92% grew 10% in the fiscal fourth quarter, while processed transactions increased 12%. Visa’s revenue rose to $7.79 billion from $6.56 billion and came ahead of the FactSet …

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WSJ News Exclusive |  Elon Musk's Twitter Takeover Debt to Be Held by Banks Amid Turbulent Markets

WSJ News Exclusive | Elon Musk’s Twitter Takeover Debt to Be Held by Banks Amid Turbulent Markets

Banks that committed to help finance Elon Musk’s takeover of Twitter Inc. plan to hold all $13 billion of debt backing the deal rather than syndicate it out, according to people familiar with the matter, in another blow to a market that serves as a crucial source of corporate funding. Twitter could have the dubious …

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Why the housing market should brace for double-digit mortgage rates in 2023

Why the housing market should brace for double-digit mortgage rates in 2023

Even if Federal Reserve Chairman Jerome Powell and his cohorts stopped hiking policy rates soon, the 30-year fixed mortgage rate would still climb to 10%, according to Christopher Whalen, chairman of Whalen Global Advisors. That’s because the Fed’s torrid pace of rate increases in 2022 takes time to seep back into mortgage rates, especially with …

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JPMorgan profit falls but beats estimates while Morgan Stanley misses

JPMorgan profit falls but beats estimates while Morgan Stanley misses

JPMorgan Chase & Co. shares rose Friday after the megabank beat analyst targets for third-quarter profit and revenue and said it would top forecasts for its net interest income in the coming quarter. In a busy day for bank earnings, Wells Fargo & Co. WFC, +2.75% fell short of earnings target but its stock rose …

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Here's how you'll know stock-market lows are finally here, says legendary investor who called '87 crash

Here’s how you’ll know stock-market lows are finally here, says legendary investor who called ’87 crash

“If you think about where we are right now, the Federal Reserve Board is fighting something that it hasn’t really seen in almost four decades, which is inflation. Inflation is a bit like toothpaste: once you get it out of the tube, it’s hard to get it back in, right?“ — Paul Tudor Jones Billionaire …

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S&P 500 would be in an 'earnings recession' if not for this one booming sector -- but that may not last long

S&P 500 would be in an ‘earnings recession’ if not for this one booming sector — but that may not last long

Fears of an actual recession are weighing on investors near the end of 2022, but there is another type of recession also in sight: an earnings recession. The S&P 500 index would already be in an earnings recession if it were not for one high-flying sector in 2022: energy. Higher oil prices have led to …

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Stocks and bonds are 'discounting for a disaster' after the worst stretch for investors in 20 years

Stocks and bonds are ‘discounting for a disaster’ after the worst stretch for investors in 20 years

Things could always get worse. The S&P 500 index SPX, -1.51% on Friday cemented its worst monthly percentage fall since the pandemic lockdowns of March 2020, but also joined the Dow Jones Industrial Average DJIA, -1.71% and Nasdaq Composite Index COMP, -1.51% in booking the worst, first 9-month stretch since 2002, according to Dow Jones …

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UK bond yields plunge after Bank of England steps in to buy at 'whatever scale is necessary'

UK bond yields plunge after Bank of England steps in to buy at ‘whatever scale is necessary’

UK gilt yields fell back from their highest in 14 years after the Bank of England said it would buy bonds at “whatever scale is necessary” to restore orderly market conditions. The 10-year benchmark gilt yield TMBMKGB-10Y, 4.001%, which moves in the opposite direction to prices, fell 49 basis points to 4.03%, having at one …

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The S&P 500 was down 5% in a very bad week for stocks.  These 20 lost as much as 24%.

The S&P 500 was down 5% in a very bad week for stocks. These 20 lost as much as 24%.

US stocks sputtered Friday to close out the week in the red. The day’s declines of less than 1% for the broad indexes paled against Tuesday’s, when they sank 4% to 5%. For the week, the Dow Jones Industrial Average DJIA was down 1,329 points (or 4.1%), closing Friday at 30,822. The benchmark S&P 500 …

The S&P 500 was down 5% in a very bad week for stocks. These 20 lost as much as 24%. Read More »