In 2021, a piece of digital art sold at auction for $69 million. The iconic sale ‘Everydays: The First 5000 Days’ from Beeple was the first time most of the world took any notice of NFTs. Two years on, following something of a frenzy for investing in the burgeoning assets,...
Financial planner Brenda Morris and nearly all her clients have something in common: They avoid eating, wearing or using anything that comes from animals. Morris and her Virginia-based firm Humane Investing have found a niche with vegans. For decades, there’s been a growing movement of consumers who avoid animal products. But...
The prospect of U.S. interest rates remaining elevated for longer than expected has sparked a readjustment for investors. This week’s Fed decision to hold its target federal fund rate to a 5.25-5.50% range may be followed by another hike before year-end, but it’s the signal rates may stay above 5%...
Schroders Plc said it has a way to score sovereign debt that corrects for the rich-world biases inherent in ESG investing. Emerging economies start off at a significant disadvantage, the asset manager says, because they tend to rely on coal or other fossil fuels, they’re disproportionately vulnerable to climate change, and they...
The market for U.S. Treasuries may be the largest, safest and most liquid in the world at more than $24 trillion. But securitized fixed-income markets totaling over $12 trillion are nothing to sneeze in the current economic environment, with attractive yields, highly diversified products and a troubled history that’s now...
BlackRock Inc. and other money managers spent years rolling out sustainable funds, seeking to capitalize on surging interest in ESG investing. Now they’re abandoning an increasing number of those products in the U.S. amid political backlash and investor scrutiny. State Street Corp., Columbia Threadneedle Investments, Janus Henderson Group and Hartford...
JPMorgan Chase & Co. Chief Executive Jamie Dimon said the Federal Reserve may have to keep increasing its benchmark interest rate in the coming months to combat persistent inflation. The central bank was “a day late and a dollar short” in beginning to raise rates and the rapid increases over...
Bond traders are bracing for Treasury yields to keep pushing higher after the Federal Reserve signaled it’s likely to hold interest rates at lofty levels well into next year. Fifty-eight percent of the 172 respondents in the Bloomberg Markets Live Pulse survey conducted after the Fed’s decision said that 2-year Treasury yields...
Investors may not want to bet heavily on an autumn stock surge as the fuel behind this year’s rally runs low, said Lisa Shalett, chief investment officer for wealth management at Morgan Stanley. The S&P 500 Index has jumped more than 16% so far in 2023, a refreshing turnaround for...
The Federal Reserve left its benchmark interest rate unchanged while signaling borrowing costs will likely stay higher for longer after one more hike this year. The central bank’s policy-setting Federal Open Market Committee, in a post-meeting statement released Wednesday, repeated language saying officials will determine the “extent of additional policy...