US Senator Warren blasts Fed for withholding trading records | Financial Markets News

US Senator Warren blasts Fed for withholding trading records |  Financial Markets News

US Senator Elizabeth Warren rebuked Federal Reserve Chair Jerome Powell for withholding information on trading by central bank officials during the pandemic and said an investigation into the matter by the Fed’s inspector general was “troubled.” The IG report “raises new concerns about the reasons why you continue to withhold key information about Fed officials’ … Read more

Canada’s TD Bank to buy US brokerage Cowen in $1.3 trillion deal

Canada’s TD Bank to buy US brokerage Cowen in .3 trillion deal

Randy Risling | Toronto Star | Getty Images Canada’s Toronto Dominion Bank will buy New York-based boutique investment bank Cowen in a $1.3 billion all-cash deal to boost its presence in the high-growth US market. Cash-rich Canadian banks have been on a shopping spree in the United States in recent months as they try to … Read more

Premature rally? It’s too early to talk of central bank ‘peak hawkishness,’ strategist says

Premature rally?  It’s too early to talk of central bank ‘peak hawkishness,’ strategist says

A concern with peak hawkishness from central banks is jumping the gun, according to Jean-Paul Jaegers, head of asset allocation at Barclays Wealth & Investments. Major central banks throughout the world have been tightening monetary policy and raising interest rates in a bid to contain runaway inflation in recent months. However, some stock markets staged … Read more

US Fed: ‘More restrictive’ rates possible if inflation persists | Business and Economy News

US Fed: ‘More restrictive’ rates possible if inflation persists |  Business and Economy News

Policymakers backed raising interest rates at their next meeting in July by either 50 or 75 basis points, show the Fed’s June meeting minutes. Federal Reserve officials agreed last month that interest rates may need to keep rising for longer to prevent higher inflation from becoming entrenched, even if that slowed the US economy. Policy … Read more

Are bank stocks reflecting a recession? Not yet, and that’s a concern

Are bank stocks reflecting a recession?  Not yet, and that’s a concern

Canadian bank stocks are struggling as investors fret over the possibility of an oncoming recession, but some analysts believe that banks are not yet reflecting an ugly economic downturn. Share prices of the Big Six banks – Bank of Montreal, Canadian Imperial Bank of Commerce, National Bank of Canada, Royal Bank of Canada, Bank of … Read more

For investors, ‘a great opportunity to increase their energy weighting’: Scotiabank analyst

For investors, ‘a great opportunity to increase their energy weighting’: Scotiabank analyst

Daily roundup of research and analysis from The Globe and Mail’s market strategist Scott Barlow Morgan Stanley US equity strategist Michael Wilson believes markets could rally in the near term, but it won’t last “The short-term rolling correlation between equities and real yields is now deeply negative once again… this recent decline in bond yields … Read more

Premarket: Stocks extend bear market bounce as inflation angst eases

Premarket: Stocks extend bear market bounce as inflation angst eases

Tokyo pedestrians wearing protective masks are reflected on an electronic board displaying various company’s stock prices in this file photo.Kim Kyung Hoon/Reuters World shares extended their bounce on Monday, building on Friday’s strong Wall Street close as off-peak oil prices helped sentiment improve and temper fears of prolonged inflation. Strong morning gains in Europe and … Read more

RBC top analyst sees comeback

RBC top analyst sees comeback

Investors who are “apathetic” or negative toward banks will change their stance in the year’s second half, according to RBC Capital Markets’ top banking analyst. Gerard Cassidy predicts bullishness will make a comeback due to strong revenue growth and optimism surrounding credit. “You can really see people coming back to [bank] the stocks. They’re under-owned,” … Read more

Warren asks bank regulator to reject TD deal after customer-abuse report

Warren asks bank regulator to reject TD deal after customer-abuse report

Sen. Elizabeth Warren, D-Mass., speaks during the Senate Armed Services Committee hearing on security in Afghanistan and in the regions of South and Central Asia, in Dirksen Building on Tuesday, October 26, 2021. tom williams | CQ-Roll Call, Inc. | Getty Images Lawmakers led by Sen. Elizabeth Warren asked a key regulator to block Toronto-Dominion … Read more

US S&P 500 ‘bear market’: How did it happen, what will it mean? | Financial Markets News

US S&P 500 ‘bear market’: How did it happen, what will it mean?  |  Financial Markets News

As investors grow increasingly worried about inflation and higher interest rates, Wall Street has fallen into a bear market. The US Federal Reserve bank has indicated that it will push up interest rates as it struggles to curb the highest rates of inflation the country has seen in decades. The uncertainty unleashed by Russia’s invasion … Read more