Legions of bankers from Hong Kong and London to Dubai and South Africa were caught up in the global IT outage, leaving some unable to log on to computer systems and hobbling others from making trades.
For more than two years, inflation has eclipsed everything else at the Federal Reserve. In a shift eagerly awaited by global markets, that’s poised to change.
Over three decades on Wall Street, Jim Covello has learned how painful it can be to bet against an inflating tech stock bubble. The market has a way of minting riches, month after month, even after it’s clear the latest breakthroughs aren’t playing out quite as expected.
Taiwan Semiconductor Manufacturing Co. lifted projections for 2024 revenue growth after quarterly results beat estimates, reflecting its confidence in the longevity of the global AI spending boom.
Blackstone Inc.’s real estate arm weighed on the investment giant’s second-quarter results, as high interest rates crimped property valuations and investors pumped less money into the business.
At some of the world’s biggest asset managers, ESG fund launches are quietly stalling.
The barbarians are back at the gates. Morgan Stanley and Goldman Sachs Group Inc. are confident that their most important clients are about to get active after a long spell on the sidelines and help goose the long-awaited revival in investment banking fees.
Back in 2021, legions of critics lambasted the Federal Reserve for failing to take proactive and forward-looking steps against the emerging inflation threat. Curiously, many of them have gone silent on the risk that the Fed might get caught flatfooted again, this time by failing to cut interest rates soon enough in the face of weaker inflation and a cooling labor market.
Advisor Perspectives, a leading publisher and ranked as the #1 eNewsletter for financial advisors by the Erdos & Morgan “FAMOUS” Study (2019-2023) has announced its Venerated Voices™ awards for commentaries published in Q2 2024.
It’s taboo in many cultures to admit you might want to have a life outside of your work, so a lot of people keep it to themselves because they don’t want to be seen as weak, or uncommitted.
In this episode of Dear Ficomm, I help a financial advisor in New York elevate his website’s flow through better CTAs and word choice.
The myth of work-life balance has perpetuated unrealistic expectations and unnecessary stress. By recognizing the fluidity of life and embracing a more flexible approach, you can find greater fulfillment and mental well-being.
Wall Street is looking beyond the obvious megacap stocks to find the next leg of the artificial intelligence trade.
Tesla Inc. forming an autonomous taxi platform will be the catalyst for a roughly 10-fold increase in its share price, Ark Investment Management LLC’s Cathie Wood said, echoing years of bullish predictions about a business the carmaker has yet to stand up.
At Institutional Investor, keeper of Wall Street’s version of the Oscars for financial analysts, the winner in one category this year is — nobody.
Goldman Sachs Group Inc. and Wells Fargo & Co. joined rival JPMorgan Chase & Co. in the tapping the US investment-grade market after reporting second-quarter earnings.
A growing number of Wall Street economists are cautioning the Federal Reserve is waiting too long to reverse course after raising interest rates to a two-decade high.
Since carriers are still digesting and figuring out how they want to cover DA, investment advisors should focus on working with a broker who understands this space. What was true six months ago, can easily be different now and in further down the road.
I thought I knew a lot about travel insurance until recently, when I learned something new. It was an expensive lesson.
Leveraging essential tools will energize teams, streamline operations, and drive growth. Financial advisors should actively promote education, training, networking, and personal development to foster a net wealth-supporting environment.
In short, your prospect isn’t looking for a relationship, they’re looking for someone to solve their problem. As a result, trying to build a relationship pre-sale invites the two-pronged consequence of having them doubt your motives and then reject your plan.
Credit markets are breathing a sigh of relief after inflation data showed price pressures are cooling broadly, but a weakening economy poses fresh risks to corporate debt.
Goldman Sachs Group Inc. and Wells Fargo & Co. are joining rival JPMorgan Chase & Co. in the tapping the US investment-grade bond market after reporting second-quarter earnings.
Yield-hungry insurance firms are adopting an unconventional strategy: they’re skipping mortgage-backed bonds and buying the underlying whole loans outright.
It’s been clear since the fall of 2022 that the housing market needed lower interest rates to fix many of its problems including a lack of affordability for buyers, the mortgage rate lock-in dynamic for homeowners, and reduced activity for companies ranging from Home Depot Inc. and Lowe’s Cos. to suppliers of building materials.
Big tech companies have brought the 21st century some of its greatest innovations. Amazon.com Inc., Google search, Apple Inc.’s iPhone and other digital products have made people’s lives immensely more convenient and productive — a consumer benefit worth, by one estimate, more than $2.5 trillion a year. They deservedly dominate their respective markets.
A young colleague came to me recently with a shameful admission: Despite the lecturing of her friends and family, as well as her own best intentions, she had not yet signed up for the company 401(k) plan. She lives in an expensive city and is nervous about tying up her money for the next 40 or 50 years.
With the S&P 500 index up almost 18 percent since the beginning of this year, now may be a good time to check how well your retired or near retired clients’ household assets match up with their expected spending liabilities.
Notwithstanding whether there was a formal agreement, the petrodollar is not going anywhere. Even if Saudi Arabia accepts rubles, yuan, pesos, or gold for its oil, it will need to convert those currencies into dollars in almost all instances.
Conflicts are everywhere in financial planning. They exist in all fee models, whether they be commissions, assets under management, fixed fee, or hourly. Any time money changes hands there are conflicts of interests.
Apple Inc. surged to another record high on Monday after the tech giant was named a top pick at Morgan Stanley, with the broker seeing the launch of the company’s artificial intelligence platform triggering a record rush among users to upgrade their smartphones, tablets and computers.
BlackRock Inc. hauled in $51 billion of client cash to its long-term investment funds in the second quarter, pushing the world’s largest money manager to a record $10.6 trillion of assets.
No matter who wins November’s US presidential election, there’s a growing risk that Americans will be paying higher taxes next year, according to MacKay Shields LLC. That makes muni bonds an attractive shield.
Goldman Sachs Group Inc.’s trading unit powered a surge in earnings in the second quarter.
Younger investors are thinking about their investment portfolios all wrong, and it’s not entirely their fault. Ultimately, it’s up to them to recognize where the best long-term returns lie before too much precious time is wasted.
Human nature is such that there are always some folks who put a negative spin on obviously good news.
The clubby world of private credit seems to be running out of space for the little guy.
Treasury yields tumbled after benign inflation data renewed confidence that the Federal Reserve will cut interest rates at least twice this year.
President Joe Biden, as you’ve no doubt heard, has had a rough few weeks. Yet on Tuesday, he signed a bill into law that could well prove transformative for America’s energy future. Here’s hoping — whatever happens in November’s election — that more progress lies ahead.
Thursday’s wildly encouraging consumer price index report shows that the Federal Reserve should be cutting policy rates at its meeting later this month. Unfortunately, they’ll probably keep us waiting until September.
The boom in portfolio trading is starting to creep into the market for state and local government debt.
As Pete Stavros addressed the private equity industry’s yearly shindig in Berlin last month, the KKR & Co. executive’s words were slightly less headline grabbing than those of Apollo Global Management’s co-president Scott Kleinman. But they were just as troubling.
Bond investors who’ve been positioning for a rally in the Treasury market are now looking for an endorsement from Thursday’s US inflation data.
Investors are growing increasingly concerned that US technology megacaps are spending too much on artificial intelligence, according Goldman Sachs Group Inc. strategists.
Bain Capital and Reverence Capital Partners have agreed a deal to take Envestnet Inc., a provider of wealth-management software, private.
One after another, the money-making trading formulas for China’s quantitative hedge funds are disappearing.
European stocks edged higher, extending gains into a second day, ahead of a key US inflation print that’s expected to show price pressures continuing to ease.
By some metrics, the US financial system is in great shape. All 31 banks that underwent the Federal Reserve’s stress tests this year maintained adequate capital even in a “severe” economic scenario.
Investors attach a $2.3 trillion valuation to Alphabet Inc. for its status as an internet search behemoth and AI innovator. Yet even that massive figure underplays YouTube’s true worth, according to analysts at Needham & Co.
Life has been getting busier for investment bankers, but dealmakers aren’t cashing any checks yet. A stream of big-ticket merger and acquisition announcements this year bodes well for future revenue and bonuses, but no one gets paid until deals are completed. And that might not happen until late 2024 or even next year.
