By Lucy Raitano LONDON (Reuters) -Investors with classic “60/40” portfolios are facing the worst returns this year for a century, BofA Global Research said in a note on Friday, noting that bond markets continue to see huge outflows. “2022 (is) a simple tale of “inflation shock” causing “rates shock” which in turn threatening “recession shock” …
“60/40” portfolios are facing worst returns in 100 years: BofA Read More »
(Reuters) – The $184 billion Texas Teachers’ pension fund is set to settle on a new emerging markets stock benchmark, a move that will cut its exposure to Chinese stocks by half. Teacher Retirement System (TRS) of Texas received an approval in September to move to a new benchmark which has a proportionate mix of …
Texas Teachers’ Pension to cut China target allocation Read More »
By Manya Saini and Davide Barbuscia (Reuters) -BlackRock Inc posted a smaller-than-expected drop in quarterly profit on Thursday as strong demand for exchange-traded funds and other low-risk products cushioned the hit to fee income from a global market rout, but its assets under management fell below expectations. The threat of a recession, surging interest rates …
BlackRock assets fall below $8 tln, profit beats on strong ETF demand Read More »
By Davide Barbuscia and Lewis Krauskopf (Reuters) – Signs of stress are growing in the global financial system, sparking worries over everything from contagion between markets to ruptures in financial products. The concerns come as central banks around the world furiously tighten monetary policy in their fight to tame inflation, creating an environment investors and …
Analysis-Worries over global financial stability mount as central banks tighten policy Read More »
(Reuters) – Bank of America on Wednesday said 32 million customers had used its virtual assistant, which allows them to check bill payments, account balances and track spending on the mobile banking app, more than 1 billion times since its launch in 2018. Wall Street banks have lately been focused on expanding into the digital …
BofA’s clients use virtual assistant over 1 billion times Read More »
ZURICH (Reuters) – The Swiss government plans to create a central registry to track who actually owns legal entities in a move to fight money-laundering via shell companies, it said on Wednesday. The cabinet asked the finance ministry to draft specific proposals by mid-2023 that could increase transparency by making it easier to identify corporate …
Swiss govt to track corporate ownership in bid to curb money laundering Read More »
By Xinghui Kok SINGAPORE (Reuters) -Deutsche Bank said on Wednesday it was replacing its Asia Pacific head of international private banking with a senior hire from embattled Swiss bank Credit Suisse. Singapore-based Jin Yee Young, who resigned from her role as the deputy head of Credit Suisse’s Asia Pacific wealth management business, was appointed as …
Deutsche Bank names ex-Credit Suisse banker as new APAC head of private bank Read More »
By Summer Zhen HONG KONG (Reuters) – The hedge funds that have managed to weather and outperform China’s bumpy stock markets so far this year say betting on big-picture macroeconomic changes has helped them. One such fund is Stanley Tao’s $230 million Golden Nest Greater China Fund. The hedge fund posted approximately a 2.4% net …
Macro bets help hedge funds ride rough Chinese markets Read More »
REUTERS – Large investment managers bought $23.931 billion at a 2-year note auction held in September, compared with the $24.193 billion they purchased the previous month, data from the U.S. Treasury Department released on Friday showed. Overseas investors, another major group of holders of U.S. government debt, bought $7.391 billion of the latest 2-year supply, …
Investment funds buy $23.931 billion 2-year note in September – U.S. Treasury Read More »
By Lewis Krauskopf NEW YORK (Reuters) – Friday’s swoon in U.S. stocks is helping drive home a humbling message for investors: buying dips may have worked for the last decade, but it’s been a losing strategy so far in 2022. The S&P 500 has rallied four times this year by 6% or more, only to …
Dip buyers may be burned again as another U.S. stock rally falters Read More »
