Yields on 30-year Treasuries are on track for their largest quarterly jump since 2009, stoking anxiety that the bond rout of the past few months could reverberate across financial markets. The long-bond yield has risen around 85 basis points since the end of June and touched about 4.81% Thursday, the...
BlackRock Inc. Chief Executive Officer Larry Fink said he’s open to more acquisitions, as the world’s largest asset manager increasingly seeks to position itself as a one-stop shop for investors. “I do see some very large opportunities for inorganic growth,” Fink told Bloomberg Television’s Dani Burger at the Berlin Global Dialogue forum...
China Evergrande Group wiped out international investors, roiled financial markets and left thousands of suppliers in the lurch. Yet it was the developer’s failure to pay households who invested in its wealth management products that may have provided the last straw for Chinese authorities. Almost two years after Evergrande defaulted...
The top royal for one of the world’s smallest nations heads a multibillion-dollar dynasty dating back almost 1,000 years that’s endured through wars, floods and scandals. Today, the finance empire behind Liechtenstein’s Prince Hans-Adam II is flourishing from its main area of expertise: managing money for the world’s super-rich. LGT Group,...
The Securities and Exchange Commission is finalizing settlements with about two dozen Wall Street firms to resolve probes into lapses in record keeping, Reuters reported. The settlements are with investment advisers and broker-dealers, according to the report, which cited people familiar with the matter. It marks the latest enforcement action in...
U.S. investment-grade bonds have swung to a loss for the year as the Federal Reserve’s determination to raise interest rates to counter inflation spreads pain across debt markets. The Bloomberg US Corporate Bond Index dropped 0.4% Wednesday, sending it into the red for the year after being up as much as 5%...
More junk-rated companies are likely to default on their debt as the U.S. economy slows, according to Franklin Templeton, which is waiting for wider spreads before buying the bonds. The $1.4 trillion asset manager, which is currently underweight U.S. high yield, may add exposure if spreads start to price...
The two-month sell-off in U.S. stocks threatens to intensify as options dealers on Wall Street and fast-money traders both turn against the market. Such is the warning from Goldman Sachs Group Inc.’s Scott Rubner, who has studied the flow of funds for two decades. With indexes such as the S&P 500 breaking...
Citigroup Inc. is in talks to sell its China onshore retail wealth business to HSBC Holdings Plc, as the latter continues to build out its presence in the mainland, according to people familiar with the matter. Citi’s China retail wealth business has about $4 billion of assets and deposits and...
Foreign investors sold the largest amount of Japanese stocks since March last week amid signs of risk aversion. They dumped ¥913 billion ($6.1 billion) of equities, more than three times as much as the previous week, data from Japan Exchange Group Inc. showed. It was the biggest sales on a...