BMO Financial has announced some leadership changes within its Capital Markets and Investment & Corporate Banking groups. The catalyst is the retirement of long-time CEO and group head of the Capital Markets business, Dan Barclay, who will step down from the role at the end of this month but will...
The forces underlying the Treasury debt market are extremely adverse as the US is on an unsustainable fiscal path, a senior International Monetary Fund official said. “US deficits are elevated and they’re projected to be persistent,” said Vitor Gaspar, director of the IMF’s Fiscal Affairs Department. “Under unchanged policies, debt...
A house for sale in Arlington, Virginia, in July of 2023.Saul Loeb | AFP | Getty ImagesThe average rate on the 30-year fixed mortgage rose to the highest level since 2000 last week, but rates on adjustable-rate mortgages fell. That caused a run on these so-called ARMs, pushing total...
Stock markets that have refused to buckle under the highest yields since 2007 face a new test. Third-quarter results will shine a light on how much those rates are already hitting profits — and what they’ll do to lofty equity valuations. As the earnings season kicks off, corporate managers will likely be...
Emerging-market stocks just crossed another grim milestone: They’ve tumbled to the lowest level in 36 years relative to US equities. MSCI Inc’s benchmark for developing-nation equities slipped to begin the week as Israel’s retaliation against attacks by Hamas sparked fears of a broader conflict between the US and Iran. That took...
The largest public pension fund in the U.S. is looking hire a new chief investment officer by early next year following the surprise resignation of its previous leader after less than 18 months on the job. The California Public Employees’ Retirement System is aiming to fill the CIO role by...
Tim Wentworth, former CEO of Express Scripts.Getty ImagesWalgreens Boots Alliance has chosen veteran health care executive Tim Wentworth as the company's new chief executive.Wentworth is the former CEO of the nation's largest pharmacy benefits management company, Express Scripts, which was acquired by Cigna in 2018. He stayed on and...