The world’s first fractional bond exchange using the latest in distributed ledger technology now has Citi Securities Services as its first digital custodian participant. BondbloX Bond Exchange, or BBX, launched in 2020 and allows investors to track and trade bonds electronically. It has been hailed as a significant step in...
Stocks fell as traders took risk off the table ahead of a raft of policy decisions this week from the US, the UK and Japan. Societe Generale SA slumped as much as 7.6% and was among the biggest drags on Europe’s Stoxx 600 Index after the Paris-based lender’s strategic plan included...
The IRS plans to hire 3,700 employees to help fuel its efforts to target large corporations and complex partnerships. Democrats’ Inflation Reduction Act set aside tens of billions of dollars to allow the IRS to intensify its enforcement of tax cheats. The Friday announcement followed agency news last week that...
After a sharp stock rally this year on the back of resilient economic growth, investors now have a more negative outlook for risk assets in 2024, according to Morgan Stanley’s Michael Wilson. The strategist — who has retained his bearish view on equities in 2023 despite a 16% advance for...
Stock-market strategists who were largely wrong about this year’s rally are finally starting to come to face their mistake, raising year-end targets for the S&P 500 Index. Take Societe Generale’s Manish Kabra, who boosted his year-end target last week on the index to 4,750 from 4,300 — 25% above his...
With the final quarter of 2023 approaching, one winning strategy in emerging markets is becoming clearer: buying shares in smaller companies. The trade has produced an extra gain of 12 percentage points over the MSCI large-cap index so far this year, on course for the second-best relative returns in the...
Bond deals arranged by Credit Suisse and Bank of America Corp. in connection with debt swaps for emerging-market issuers are facing renewed scrutiny, after the International Capital Market Association issued new labeling guidelines. The bonds were sold over the past few years to finance so-called debt-for-nature swaps, through which sovereigns refinance...
An organization representing investment advisors is pushing the SEC to calibrate its regulations so that they don’t pose an outsize burden for small advisors. The Investment Adviser Association has filed a petition with the SEC asking it to amend its definition of a small advisor. Currently, the SEC deems an...
Sarah Paulson’s business is unlike most financial advisories because of two things it doesn’t have: an asset minimum and an office. Both of those details were a consequence of the pandemic, Paulson said. Early in the Covid days, she was working as a trust officer at Associated Bank. “I wasn’t really...
Short term treasury yields have risen to levels too high for wealth managers to ignore. Maybe that’s why they are ignoring municipal bonds instead. Treasury yields from one month through 2 years up the curve have eclipsed 5% at last check thanks to the past year’s steady diet of Federal...