Federal Reserve Bank of Cleveland President Loretta Mester said the central bank will likely need to raise rates once more this year and then hold them at higher levels for some time to get inflation back to its 2% target. However, Mester said the final decision will depend on how...
More and more Wall Street equity strategists are sounding the alarm on the impact of higher interest rates. The team at Goldman Sachs Group Inc. joined peers at Morgan Stanley and JPMorgan Chase & Co. warning that elevated rates could spark further declines in equities. They pointed to the divergence...
The slide in Treasuries has been excessive given recent economic data and Federal Reserve policy, suggesting it’s instead being driven by fears over the swelling US deficit, some of Wall Street’s biggest names say. Benchmark US yields jumped to the highest levels in 16 years Monday, extending an uptrend that...
Singapore is investigating the role that some single family offices played in one of the city’s largest money laundering cases and weighing further rules on the sector. Authorities found that one or more of the accused in the case involving more than S$2.8 billion ($2 billion) of assets may have...
Bitcoin retreated from a six-week peak after a jump in bond yields dented demand for riskier investments. The largest digital asset shed as much as 1.9% on Tuesday before paring some of the drop to trade at about $27,600 as of 10:50 a.m. in Singapore. The MarketVector Digital Assets 100...
Prices for pre-owned Rolex watches kept falling on the secondary market last month while entry-level models and brands like Cartier and Omega fared comparatively better. An index of Rolex timepieces declined by 2.2% in September, according to market prices tracked by the Bloomberg Subdial Watch Index. An index of 100...
Most financial advisors base investment decisions on home office models, with new data showing that the profession continues to move more toward planning and customer service. With a surfeit of models available from home offices and third parties such as asset managers, asset allocation is now all but commoditized, according...
Massachusetts Secretary of the Commonwealth William F. Galvin fined Fidelity Brokerage Services $750,000 over the company’s alleged past practice of “rubber-stamping” clients’ applications to trade options, according to a statement from Galvin’s office. Galvin, long an unpopular figure in the retail securities industry because of his wide powers over Wall...
T. Rowe Price Group Inc. and Oak Hill Advisors are launching a new private credit fund open to individual investors in the U.S. to take advantage of the rapidly growing $1.5 trillion market. The T. Rowe OHA Select Private Credit Fund, or OCredit, already has $1.5 billion of investible capital,...
When it comes to the different risks that surround retirement planning, advisors tend to focus on market risk. However, there are two more that shouldn’t be ignored: longevity risk and sequence of return risks. These were among the takeaways for attendees at the recent RIA LABS webinar, Fee-based Insurance &...