A mere 14% of American voters currently believe that their financial situation has improved since President Joe Biden took office, raising concerns about the potential repercussions for his re-election prospects. A recent poll reveals that approximately 70% of voters perceive the president’s economic policies as either detrimental to the...
Mariner Wealth Advisors has announced a substantial acquisition that will provide it with enhanced streams for growth. The addition of Baystate Wealth Management, based in Boston, Massachusetts, adds $1.8 billion AUM but also expands Mariner’s capabilities in outsource investment management for financial advisors, one of Baystate’s key service provisions along...
Morgan Stanley economists forecast the Federal Reserve to make deep interest-rate cuts over the next two years as inflation cools, while Goldman Sachs Group Inc. analysts expect fewer reductions and a later start. The central bank will start cutting rates in June 2024, then again in September and every meeting...
The US fiscal position is on an “unsustainable trajectory” due to a lack of political will to resolve the crisis at a time when debt costs are soaring, former Federal Reserve Bank of New York President Bill Dudley said. “The situation is going to get worse because the government’s debt...
Morgan Stanley’s strategists see US stocks and bonds outperforming their emerging markets peers next year, according to a note to clients. “We expect US earnings growth to trough in early 2024 and rebound thereafter,” strategists including Serena Tang and Vishwanath Tirupattur wrote. US growth may stay strong relative to other...
Emerging-market borrowers are piling back into global bond markets, selling about $20 billion in dollar notes in just a few days, all too aware that the window of opportunity may snap shut as suddenly as it opened. Countries from Colombia to Indonesia and developing-nation companies rushed to lock in lower...
Cyber catastrophe bonds may be about to move out of the shadows of private deal-making and into the public debt markets. So-called cat bonds, which farm out hard-to-insure risks to capital market investors in exchange for double-digit returns, have typically been built around natural disasters such as hurricanes. But as...
In an age where everyone relies on technology, some prefer to do without. A recent eMoney study found that’s going to be a problem for advisors who aren’t down with tech. The study found that clients who work with tech-forward advisors — those who rate technology or client portals as...
The world's biggest bank is facing a unique challenge in the largest market on the planet, as it has been forced to resort to moving trades across Manhattan using a physical USB drive. The American branch of Industrial & Commercial Bank of China Ltd., the largest bank globally, has been...
Higher interest rates and inflation have pushed household budgets to beyond their limits, forcing many American consumers to take on more debt. New stats from TransUnion show that bank card balances were up 15% in the third quarter of 2023 compared to a year earlier, with a new record high...