Embattled debt investors like the look of 5% Treasury yields as they weigh the risk-versus-reward scales for the world’s biggest bond market. The rise in yields to levels last seen before the financial crisis reflects a run of solid data, with the US economy growing last quarter at the fastest pace since...
Byron Wien, the longtime market strategist whose annual list of “10 Surprises” made him one of the most influential voices on Wall Street during a career at Blackstone Inc. and Morgan Stanley, died Wednesday. He was 90. Wien was at Blackstone for the past 14 years and was most recently...
Saving for a rainy day has been sound financial advice for generations, but when the rain keeps coming it’s easy to fall behind. A new report from Bankrate.com reveals that 81% of Americans have not added anything to their emergency savings this year and six in ten say they feel...
Another company is settling fraud charges from regulators amid a widespread crackdown on precious metals dealers that target retirees. The firm, Safeguard Metals, along with its sole owner, Jeffrey Ikahn, allegedly defrauded customers to whom it marketed gold IRAs of $68 million, according to two separate lawsuits brought by the...
Last year was a lot like a Sunday evening — pleasant and satisfying, but with the clear and gathering notion of hard work ahead. Losses in the financial markets and continued inflation created the expectation over the year that dire times may be on the horizon. As a result,...
Michael Reynolds, principal at Elevation Financial, is an entrepreneur at heart, having built and sold multiple businesses over two decades, including a digital marketing agency. For 23 years, he helmed the agency as it evolved from a fledgling startup to a thriving small business. But burned out by red tape,...
Fidelity Investments is seeking clearance that would allow some of its best-known mutual funds to also operate as exchange-traded funds, becoming the largest firm to challenge Vanguard Group’s former monopoly on the concept. The Boston-based firm applied Tuesday for a government waiver that would allow its actively managed mutual funds...
Ameriprise Financial Thursday announced a big hike in its adjusted profits for the third quarter and and attributed the success to a significant expansion in client assets and a surge in assets under management. In a robust performance, the firm saw total client assets swell by almost 15%, reaching an...
Raymond James Financial achieved record annual net revenue and record net income last year, marking the third year in a row of historic results for the firm, CEO Paul Reilly said Wednesday. Raymond James obtained $11.62 billion in net revenue and $1.73 billion in net income available to common shareholders...
The Biden administration is meeting with China’s top diplomats this week to try to repair a relationship between the two superpowers that has grown rocky. The question facing financial advisors and investors now is whether they should do the same resetting with Chinese stocks. Secretary of State Antony Blinken and National...