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

The future monetary policy is all about CBDCs, not crypto – BIS’ report

The future monetary policy is all about CBDCs, not crypto – BIS’ report

(Kitco News) “Anything that crypto can do, CBDCs can do better” is the sentence that describes the Bank for International Settlements’ vision for the future monetary policy system. The future of money is all about central bank digital currencies (CBDCs), not crypto. And that’s because of all the flaws that cryptocurrencies pose, especially those that … Read more

Oil Prices Fall On Biggest Fed Rate Hike Since 1994

Oil Prices Fall On Biggest Fed Rate Hike Since 1994

In its largest hike since 1994, the Federal Reserve raised rates by three-quarters of a percentage point, or 75 basis points, with oil prices responding by drawing down just under 1%. Wall Street had largely anticipated a 75-basis point hike, and oil prices were down 1% on Wednesday, ahead of the Fed meeting, regaining some … Read more

What’s next for stock market as Federal Reserve moves toward ‘peak hawkishness’

What’s next for stock market as Federal Reserve moves toward ‘peak hawkishness’

Investors will watch for another gauge of US inflation in the week ahead after the stock market was rattled by the Federal Reserve ramping up its hawkish tone and suggesting large interest rate hikes are coming to get an overheating economy under control. “We’re probably seeing peak hawkishness right now,” said James Solloway, chief market … Read more

Fed chief Powell backs moving more quickly on interest-rate hikes

Fed chief Powell backs moving more quickly on interest-rate hikes

Federal Reserve Chairman Jerome Powell on Thursday joined the chorus of US central bankers who want to move faster on raising interest rates. “It is appropriate in my view to be moving a little more quickly,” Powell said during a discussion hosted by the International Monetary Fund in Washington. “I also think there’s something in … Read more