Powell's speech support U.S. rate-cut bets

NEW YORK (Reuters) – U.S. interest rates futures rose on Friday as Federal Reserve Chair Jerome Powell said the central bank will do what it can to preserve the longest U.S. economic expansion on record, supporting bets on a further decline in key borrowing costs. FILE PHOTO: A screen shows the numbers after the closing […]

Rising trade tensions revive bets on deep U.S. rate cut

NEW YORK (Reuters) – U.S. interest rates futures rallied on Friday as rising trade tensions between China and the United States revived bets the Federal Reserve may lower key borrowing costs by a bold half-point next month. Earlier Friday, Beijing said it will impose a retaliatory tariffs on about $75 billion worth of U.S. goods […]

U.S. rates futures gain on China's tariff, Fed's Bullard

FILE PHOTO: Containers are seen at the Yangshan Deep Water Port in Shanghai, China August 6, 2019. REUTERS/Aly Song NEW YORK (Reuters) – U.S. interest rates futures rose on Friday, erasing their earlier losses after China announced retaliatory tariffs on about $75 billion of U.S. imports, rekindling bets the trade war between the world’s biggest […]

As bond e-trading takes off, debt sales business may be ripe for automation

LONDON (Reuters) – With banks’ bond trading desks increasingly going electronic, another of the last bastions of old-school banking – the business of helping companies and countries raise capital – may be about to succumb to the tide of technology. FILE PHOTO: People walk through the Canary Wharf financial district of London, Britain, December 7, […]

Guggenheim's Scott Minerd warns world bond markets are in a 'bubble'

(Reuters) – The bond market is in a “bubble,” particularly sovereign debt, Guggenheim Partners global chief investment officer Scott Minerd warned on Thursday, and he said that efforts by the Federal Reserve to head off a recession by cutting interest rates will ultimately prove futile. FILE PHOTO: Scott Minerd, Chairman of Guggenheim Investments and Global […]

Sovereign investors' dislike for equities mostly fades in second quarter

LONDON (Reuters) – Sovereign wealth funds’ distaste for equities mostly faded in the second quarter, with some investors turning to emerging- market passive equity funds, data from the research firm eVestment showed on Thursday. FILE PHOTO: A trader looks at screens as he works on the floor at the New York Stock Exchange (NYSE) in […]

U.S. money fund assets hit highest since October 2009: iMoneyNet

NEW YORK (Reuters) – U.S. money market funds amassed their highest level of assets since October 2009 as investors shift cash into low-risk products amid worries about a global economic slowdown and trade tensions, a private report released on Wednesday showed. Taxable money funds, which are seen as almost as safe as bank accounts, are […]

Moneysaving 101: Four ways to cut college textbook costs

(The writer is a Reuters contributor. The opinions expressed are his own.) FILE PHOTO: Books are piled-up in this illustration photo September 13, 2018. REUTERS/Thomas White/Illustration By Chris Taylor NEW YORK (Reuters) – While sky-high U.S. college tuition might be the headline number, here is a sneaky little figure that might surprise you: the cost […]

DoubleLine's Jeffrey Gundlach says Federal Reserve has lost control

FILE PHOTO: Jeffrey Gundlach, CEO of DoubleLine Capital LP, presents during the 2019 Sohn Investment Conference in New York City, U.S., May 6, 2019. REUTERS/Brendan McDermid (Reuters) – The Federal Reserve has lost control of interest rates as evidenced by the federal funds rate trading higher than any part of the U.S. Treasury yield curve, Jeffrey […]

Hedge fund manager Kyle Bass sees 'shallow recession' potentially in 2020: CNBC

FILE PHOTO: Kyle Bass, founder of Hayman Capital Management, speaks during the Reuters Global Investment 2019 Outlook Summit in New York, U.S., November 14, 2018. REUTERS/Brendan McDermid (Reuters) – Hedge fund manager Kyle Bass told CNBC on Tuesday that he sees a “shallow recession” potentially in 2020, also adding that he thinks U.S. interest rates […]

Yields rise on German fiscal stimulus hopes

NEW YORK (Reuters) – Benchmark U.S. Treasury yields rose on Friday on a report that Germany may be open to running a deficit to boost growth, while stronger stock markets also reduced demand for safe haven debt. FILE PHOTO: A sign marks the U.S Treasury Department in Washington, U.S., August 6, 2018. REUTERS/Brian Snyder Government […]

As Politics Creep Into Philanthropy, Beneficiaries Come Under Fire

Not so long ago, philanthropy was an area where politics were left at the door. Conservatives and liberals on a philanthropic board could agree to disagree behind closed doors, but the public paid little attention as hospitals, cultural institutions and universities expanded thanks to gifts from the wealthy. But at a time of heightened tensions […]

Give Your Teenager a Credit Card? Some Financial Experts Say Yes

Giving a teenager a credit card may seem a risky proposition. But finance experts say it can be a helpful educational step, with proper limits. Children under 18 can’t apply for credit in their own name, but they can piggyback on their parents’ cards — whether by informally borrowing the cards or by having parents […]

Canada's Intact Financial to buy Guarantee Co, Frank Cowan for C$1 billion

(Reuters) – Canadian property and casualty insurer Intact Financial Corp said on Thursday it agreed to buy The Guarantee Co of North America and Frank Cowan Co for C$1 billion ($750.6 million) in cash from Princeton Holdings Ltd. The deal, expected to close in the fourth quarter, will bolster Intact’s position by adding new products […]

Your Money: Big companies explore virtual care to curb healthcare costs

NEW YORK (Reuters) – Big companies are increasing incorporating virtual technology and care options into employee benefit plans to combat the rising healthcare costs that long been corporate America’s bugaboo, according to the annual survey of the National Business Group on Health. FILE PHOTO: Nurse Health Practitioner Rachelle Quimpo (C) introduces patient Shreya Sasaki to […]

U.S. regulators to drop accounting test in 'Volcker' rewrite: sources

WASHINGTON (Reuters) – U.S. regulators have circulated a new draft of the “Volcker Rule” that would further ease its requirements and scrap a proposed new test that had been met with fierce resistance from Wall Street, according to two people with knowledge of the matter. FILE PHOTO: The Federal Reserve Board building on Constitution Avenue […]

Third Point cuts United Technologies stake after opposing Raytheon deal

BOSTON (Reuters) – Hedge fund Third Point LLC said on Tuesday that it recently cut its investment in United Technologies Corp (UTX.N), becoming the second activist hedge fund to sell shares after the company announced a merger with Raytheon Co. (RTN.N) that the funds said they would not support. FILE PHOTO – Daniel S. Loeb, […]

U.S. yields tumble on trade worries, political tension

NEW YORK (Reuters) – U.S. Treasury yields fell on Monday, in line with the weak stock market, as trade worries and global political tensions in places such as Hong Kong and Argentina supported safe-haven assets. FILE PHOTO: Flags of U.S. and China are displayed at American International Chamber of Commerce (AICC)’s booth during China International […]

U.S. bond yields rise on confusion over U.S. trade move

NEW YORK (Reuters) – U.S. Treasury yields rose on Friday amid confusion over the United States policy on trade with China, while political turmoil in Italy compounded investor concerns, capping a volatile week in the bond market. FILE PHOTO: Chinese and U.S. flags flutter near The Bund, before U.S. trade delegation meet their Chinese counterparts […]

Market weighs risk of negative U.S. Treasury yields

(Reuters) – Traders and analysts are considering whether U.S. bond yields would fall below zero as a record amount around the world sank into negative territory this week. The question has become a talking point, and less hypothetical, this week as the U.S. 30-year Treasury bond yield reached the brink of breaking to record lows. […]

Investors embrace ESG investing but don't target gun stocks

BOSTON (Reuters) – Two new BlackRock Inc funds that exclude gun makers are off to slow starts as socially-minded investors embrace other products addressing a wide range of issues like environmental and governance concerns, according to flow data at the world’s largest asset manager. FILE PHOTO: A woman holds a sign during a rally against […]

More Private Colleges Are Cutting Tuition, but Don’t Expect to Pay Less

Sunshine Anderson was at Mills College’s annual welcoming ceremony in 2017 when the liberal arts college revealed its big news: It was slashing its tuition by more than a third. Elated, the history major, who is now a senior, immediately spread the word on Twitter and recalled thinking: “Oh, my God, this is going to […]

What’s Left After a Family Business Is Sold?

Four years after the sale of his family’s business, Malt-O-Meal, John Brooks said he still felt a void in his life. His grandfather had started the cereal maker in 1919, and his father ran it until his death in 1988. Nonfamily executives expanded it into the fourth-largest cereal producer in the United States before Post […]

To Graduate, File a Fafsa, More High School Seniors Are Told

More states are adding a graduation requirement for high school seniors: filling out the college financial aid form known as the Fafsa. This summer, Texas and Illinois joined Louisiana in requiring that seniors complete the lengthy form, formally called the Free Application for Federal Student Aid, to get a diploma. California and Indiana are said […]

U.S.-based high-yield junk bond funds post largest weekly outflow since October

(Reuters) – U.S.-based high-yield junk bond funds posted more than $4 billion of outflows in the week ended Wednesday, the largest weekly cash withdrawals since October 2018, according to Refinitiv’s Lipper data, triggered by an escalating trade war between China and the United States. Investors scrambled into safer U.S.-based money-market funds, which attracted $64.66 billion […]

Negative-yielding bond supply hits all-time high – J.P. Morgan

NEW YORK (Reuters) – The amount of bonds carrying negative yields increased to an all-time peak of $13.2 trillion on Wednesday, up $1.6 trillion or 13.4% from a month earlier in the wake of a dramatic rally in bond markets around the world, J.P. Morgan said on Thursday. The amount surpassed the previous record high […]

U.S. small-cap stocks under renewed threat from tariffs

NEW YORK (Reuters) – Last week’s announcement of more U.S. tariffs on Chinese goods may have undermined the prospects for small-cap stocks to rebound this year, even after a brief respite from the Federal Reserve’s recent interest-rate cut. Just a day after the Fed cut interest rates for the first time in more than a […]

Fidelity's money-market fund assets surged 20% in past year

BOSTON (Reuters) – Fidelity Investments’ money-market fund assets have climbed $116 billion, or 20%, over the past 12 months as investors embrace higher yields for their idle cash, research firm Crane Data said on Thursday. At the end of July, Boston-based Fidelity had $710 billion in money-market fund assets, according to Crane. Fidelity is the […]

Hedge fund Hoplite Capital plans to shut down – letter

BOSTON (Reuters) – Hedge fund Hoplite Capital is returning money to outside clients after a period of sluggish returns, the firm’s founder, John Lykouretzos, told investors in a letter on Wednesday. John Lykouretzos, founder and chief investment officer at Hoplite Capital Management, speaks during the SALT conference in Las Vegas, Nevada, U.S. May 18, 2017. […]

Manulife profit beats on strength in Asia unit

(Reuters) – Canada’s largest insurer insurer Manulife Financial Corp on Wednesday edged past estimates for second-quarter profit, helped by strength in Asia unit, its biggest. Insurers in Canada have been increasingly pivoting toward Asia for growth, looking to sell to the region’s middle class as domestic markets face stiff competition. The company’s Asia unit reported […]

Your Money: What to do if you need to sell stocks now

NEW YORK (Reuters) – When stocks are volatile, conventional wisdom says to stay the course. But what if you have tuition due or a pending home purchase and you just really need to cash out? FILE PHOTO: A trader reacts on the floor at the New York Stock Exchange (NYSE) in New York, U.S., August […]

U.S. money market assets rise to highest since 2009 – iMoneyNet

NEW YORK (Reuters) – U.S. money market fund assets jumped to their highest level since 2009 as investors unnerved by the rapid deterioration in trade talks between China and the United States piled into these cash-like investments, a private report showed on Wednesday. Fears about the clash between world’s two biggest economies grew after U.S. […]

U.S. banks limp away from hopes of interest margin expansion

NEW YORK (Reuters) – Big U.S. banks are under pressure again, as policymakers around the globe have dashed any hopes that the industry might finally be able to earn more money on loans, after more than a decade of rock-bottom interest rates. FILE PHOTO: A view of the exterior of the JP Morgan Chase & […]

Negative U.S. bond yields may become reality: PIMCO

(Reuters) – Investors may have to grapple with the possibility of the once-unthinkable becoming reality – negative U.S. Treasury bond yields, according to money manager Pacific Investment Management Co (PIMCO). Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., August 7, 2019. REUTERS/Brendan McDermid Despite their dramatic drop […]

Hedge fund investor Tarrant, who bet with Warren Buffett, dies

BOSTON (Reuters) – Investor Jeffrey Tarrant, whose firm Protege Partners backed billionaire managers including William Ackman and Marc Lasry early in their careers and made a bet with Warren Buffett that hedge funds would outperform a passive index fund, has died at age 63. Tarrant died on Aug. 5 at his home in Bridgehampton, New […]

UBS slashes threshold for fee on euro deposits at Swiss bank

FILE PHOTO: A man walks past a UBS logo projected on a screen in Singapore, January 14, 2019. REUTERS/Feline Lim/File Photo ZURICH (Reuters) – UBS Group will halve to 500,000 euros ($559,900) its threshold for charging a 0.6% deposit fee on euro accounts at its Swiss banking unit, Switzerland’s largest lender said on Tuesday. The […]

British lender Glenhawk names business development manager

(Reuters) – British lender Glenhawk on Monday named Peter Turner business development manager. Turner, who joins the company from ShawBrook Bank, will report to Nick Hilton, director of lending. He would be responsible for expanding Glenhawk’s broker relationships, the company said in a statement. Reporting by Abhishek Manikandan in Bengaluru Our Standards:The Thomson Reuters Trust […]

Citi names head of EMEA commercial banking

FILE PHOTO: The Citigroup Inc (Citi) logo is seen at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. Picture taken October 19, 2017. REUTERS/Chris Helgren/File Photo (Reuters) – Citigroup Inc on Monday named Raymond Gatcliffe as head of commercial banking for Europe, the Middle East and Africa (EMEA). Gatcliffe, who […]

U.S. tariff threat may compound Apple's iPhone woes: BofA

FILE PHOTO: The various colors of newly released Apple iPhone XR are seen following the product launch event at the Steve Jobs Theater in Cupertino, California, U.S. September 12, 2018. REUTERS/Stephen Lam/File Photo (Reuters) – Apple Inc could see a hit to its annual earnings from U.S. President Donald Trump’s newly proposed 10% tariff on […]

4 Reasons Parents Don’t Discuss Money (and Why They Should)

Parents would be remiss if they did not talk to their children about drinking and driving, using drugs and, of course, sex. Some go even further, discussing subjects like bullying and mental health. So why do a significant number of parents still not talk to their children about wealth and inheritance? Two-thirds of Americans who […]

When financing retirement, balance emotion and math

NEW YORK(Reuters) – With the U.S. Congress poised to pass a bill allowing annuities to be offered in mainstream 401(k) plans, Americans soon will be asking a lot of questions about these financial products that provide guaranteed lifetime income for an upfront investment. Moshe Milevsky, is shown in this photo in Toronto, Ontario, Canada, provided […]

What a Fed rate cut means for your wallet

NEW YORK/WASHINGTON (Reuters) – A decision by the Federal Reserve to cut interest rates may do little at this point to cut some of the costs that matter to many U.S. consumers. FILE PHOTO: Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S., March 19, 2019. REUTERS/Leah Millis/File Photo From mortgages to […]

The Fed May Cut Interest Rates. Here’s What That Means for You

Americans juggle a lot of interest rates in their daily lives. They pay interest on car loans, credit card balances and mortgages. They earn interest, at least a little, on the money they save with banks. Technically speaking, Federal Reserve officials will not touch any of those rates when they announce what economists widely expect […]

Record highs in U.S. stock market not enough to attract fund investors

FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., June 24, 2019. REUTERS/Brendan McDermid/File Photo NEW YORK (Reuters) – Investors retreated from the U.S. stock market last week despite the benchmark S&P 500 reaching new record highs, pulling nearly $9.1 billion from mutual funds and exchange-traded […]

UBS plans to charge rich clients for Swiss cash deposits

FILE PHOTO: A man walks past a UBS logo projected on a screen in Singapore, January 14, 2019. REUTERS/Feline Lim/File Photo ZURICH (Reuters) – UBS Group will impose from November a negative interest rate of 0.75% on wealthy clients who deposit more than 2 million Swiss francs ($2.02 million) with its Swiss bank, it said […]

BlackRock raises $2 billion for Global Credit Opportunities Fund

FILE PHOTO: The company logo and trading information for BlackRock is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 30, 2017. REUTERS/Brendan McDermid (Reuters) – BlackRock Inc, the world’s largest asset management firm, said on Wednesday it had raised $2 billion for its flagship […]

Computers boost Man Group first-half assets, shares up

LONDON (Reuters) – British hedge fund manager Man Group  said assets rose 5% in the first half of the year, helped by performance in its computer-driven strategies, boosting fee income and sending its shares higher. Weaker equity investor sentiment prompted clients to withdraw cash from its funds, however, a trend seen at rival money managers […]

St. James's Place first-half inflows slow, misses on operating profit

LONDON (Reuters) – British wealth manager St. James’s Place said on Wednesday that weaker client sentiment weighed on inflows of new money in the first half of the year while costs rose, leading it to miss forecasts for operating profit. Net inflows of client cash were 4.4 billion pounds ($5.35 billion) in the six months […]