ThinkstockEsther George of the Kansas City Federal Reserve told Fox Business News that it is time to start the end of the Federal Reserve’s bond buying program. While unemployment is high, she noted that…
Wikimedia CommonsGoldman Sachs Group Inc. (NYSE: GS) reported second-quarter 2013 results before markets opened this morning. The investment bank and financial services giant reported quarterly diluted earnings per share (EPS) of $3.70 on revenue…
One of the big downsides of incredibly low short-term and long-term interest rates was that fiduciaries such as life insurers and pension managers were starting to have a very hard time making enough nominal…
ThinkstockCitigroup Inc. (NYSE: C) reported fiscal second quarter results before markets opened this morning. The bank reported adjusted diluted quarterly earnings per share (EPS) of $1.254 on revenues of $20.5 billion. In the same…
ThinkstockWells Fargo & Company (NYSE: WFC) has released its second-quarter earnings report and the market likes what it sees so far. Earnings rose almost 20% with a record net income of $5.5 billion, or…
Wikimedia CommonsJ.P. Morgan Chase & Co. (NYSE: JPM) is now out with its second quarter company earnings report. The DJIA component is the first of the major banks to post earnings, with results of…
ThinkstockAfter a painful three years of negotiations and recriminations, the U.S. Commodities Futures Trading Commission (CFTC) and the European Commission (EC) have agreed on a set of policies regulating derivatives trading. The deal has…
ThinkstockDespite awful economic news about its own gross domestic product (GDP) prospects, China’s Shanghai Composite rose 3.2% to 2,073. It is worth remembering that it is down 10% over the past six months. In concert…
ThinkstockSeeing a U.S., Canadian or European bank file to raise cash in a debt offering is generally nothing unusual. But when a bank files for a debt offering this large, it stands out a…
The FOMC is out with its highly anticipated minutes of its last meeting. While there is some clarification and some expansion of their comments along with Ben Bernanke anticipation, we would remind readers that…
The U.S. Treasury has just conducted a $21 billion 10-year Treasury note auction, which may spook some investors. Interest rates have already risen on the long-end of the yield curve in anticipation that the…
ThinkstockIn an action that is likely to cause deep concern among America’s largest banks: The Federal Reserve Board, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC)…
ThinkstockThe change was inevitable. The British Bankers Association has been kicked out as the controller of the London Interbank Offered Rate, better known as Libor, and replaced by NYSE Euronext Inc. (NYSE: NYX). Libor…
Following the lead of the Federal Reserve, the Bank of England kept interest rates low at .5%. It is certainly a sign that the BOE believes that the U.K. is nowhere near an economic…
ThinkstockS&P must believe that a new credit crisis is on the way, or at least there is a reasonably good chance there could be. It hit several of the world’s largest banks with downgrades,…