Major Banks Shift Investments as Bank of Japan Mulls Ending Negative Interest Rates
Amid growing expectations that the Bank of Japan will end its negative interest rate policy, some of the major banks that are big investors in the government bond market have started moving their money cautiously. Bank of Japan Governor Ueda Photographer: Kiyoshi Ota/Bloomberg In December last year, the balance of current account deposits held by […]
Minneapolis Fed President Kashkari: “Several More Months” of Inflation Data Needed Before Rate Cut
Minneapolis Fed President Kashkari said the Fed needs to see “several more months” of inflation data before cutting rates. He also acknowledged that two or three rate cuts are likely to be appropriate in 2024. “We’re not looking for better inflation data, we’re just looking for additional inflation data that shows we’re close to the […]
The Impact of the US Commercial Real Estate Market on European Banks
The problems in the US commercial real estate market, which have already hit banks in New York and Japan, have spilled over into Europe this week, raising concerns that the impact could spread. The most recent victim was the German financial institution Deutsche Pfandbriefbank (PBB). Corporate bonds folded on concerns about exposure to the real […]
Treasury Secretary Yellen Expresses Concern About Commercial Real Estate Losses
Treasury Secretary Janet Yellen, in testimony to Congress on Thursday, expressed concern about losses in the commercial real estate sector and said she was working to ensure that US regulators were working to ensure that there were sufficient reserves for loss of loans and liquidity in the financial system. was “There will be significant pressure […]
Cleveland Fed President Mester Urges Patience on Interest Rate Cuts
Cleveland Fed President Mester said that if the economy moves forward as expected, he has confidence that the Federal Open Market Committee (FOMC) will cut interest rates “by the end of this year,” and that he is in no rush to start lowering rates. it is suggested. US Fed officials want to see more evidence […]
NYCB’s Market-Shaking Moves: The Fallout from Tense Talks with Watchdog
When US regional bank holding company New York Community Bancorp (NYCB) announced its financial results for the fourth quarter of last year, it announced an unexpected drop in dividends and an increase in loan loss reserves in preparation for troubled commercial real estate loans. Increasing pressure from the Office of the Controller of Cash (OCC) […]
Minneapolis Fed President Says FOMC Has Time to Review Economic Data Before Lowering Interest Rates
Minneapolis Fed President Kashkari said the Federal Open Market Committee (FOMC) has time to review economic data before moving to lower interest rates. He acknowledged that the economy has changed following the coronavirus pandemic. “It is possible that, at least during the post-pandemic recovery period, the level of policy stance that amounts to neutrality has […]
March Rate Cut Expectations Fizzle as Treasury Yields Rise
The Treasurer of the United States rose on the 5th. Federal Reserve Chairman Jerome Powell pushed back on expectations for an interest rate cut in March, further reducing expectations for early easing. The yield on two-year US Treasuries rose 10 basis points (bp, 1 bp = 0.01%) to 4.46%, the highest level in a month. […]
US Non-Farm Employment Numbers Exceed Expectations in January 2024
Money Today New York = Reporter Park Jun-sik | 2024.02.03 00:01 Non-farm employment, job statistics released by the US government, increased by 353,000 in January. This is a result that is almost twice what was expected. According to the US Department of Labor’s Bureau of Employment Statistics on the 2nd (local time), the number of […]
US Consumer Sentiment Improves in January 2024, Boosting Economic Outlook
US consumer sentiment improved month-on-month in January for the first time since 2005. Easing inflation has boosted the outlook for the economy and household finances. Key Point The University of Michigan Consumer Confidence Index (confirmed value) for January was 79. Up from 69.7 in the previous month The preliminary value is 78.8 The median forecast […]
