December 23, 2024
Tangible Assets

JPMorgan Chase Faces Lawsuit Aimed at Cash Sweep Program

JPMorgan Chase is reportedly facing a lawsuit that alleges that the bank paid “unreasonably” low interest rates on accounts used in its cash sweep program. Illinois resident Dan Bodea alleges in the suit that the bank used the program to shortchange customers while pretending to act as their fiduciary, Reuters reported Monday (Aug. 26). JPMorgan Chase

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Operating Assets

How investors can prepare for lower interest rates

Federal Reserve Chairman Jerome Powell. Andrew Harnik | Getty Images Federal Reserve chair Jerome Powell on Friday gave the clearest indication yet that the central bank is likely to start cutting interest rates, which are currently at their highest level in two decades. If a rate cut comes in September, as experts expect, it would

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Financial Assets

Nasdaq leads stocks higher as Powell waits in the wings

Stocks climbed on Friday in the run-up to a pivotal speech by Federal Reserve Chair Jerome Powell that is likely to shape expectations on policy, the economy, and the future path of interest rates. The S&P 500 (^GSPC) rose 0.6%, while the Dow Jones Industrial Average (^DJI) added 0.5%. The tech-heavy Nasdaq Composite (^IXIC) led

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Gold Investing

Gold nears record high, rallying over a fifth in 2024: Will this continue?

Gold traded near a record high as Federal Reserve minutes and a downward revision of US payrolls reinforced expectations that policymakers will cut interest rates in September. All eyes will be on Fed Chair Jerome Powell’s speech at the Jackson Hole symposium on Friday, when he’s expected to set the table for an interest-rate cut.

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Financial Assets

High Interest Rates Are Reviving This Junk-Bond Investment Strategy

For decades, credit rating agencies have unintentionally provided bond investors with an almost guaranteed way to turn a profit: When the firms demote companies from investment-grade, many money managers are forced to sell, because they have mandates forbidding them from owning junk debt. Such sales typically happen fast, pushing prices below those for bonds with

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Financial Assets

S&P 500 Spikes to Notch Its Longest Rally in 2024: Markets Wrap

(Bloomberg) — Stocks kept pushing higher, adding to a rally from August lows that’s already topped $3 trillion amid bets the Federal Reserve will signal it’s ready to start cutting interest rates. Most Read from Bloomberg All major groups in the S&P 500 rose, with the gauge up for an eighth straight day — the

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Gold Investing

Gold ticks up, traders eye US retail sales data

Gold bullion bars are seen for sale at Manfra, Tordella and Brookes, Inc. January 9, 2003 in New York City. Mario Tama | Getty Images Gold prices inched up on Thursday after a 1% decline in the previous session following inflation data that dampened hopes for a larger September U.S. rate cut, while the focus

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Tangible Assets

RBNZ Aims to Lower Cash Rate at Measured Pace, Governor Says

(Bloomberg) — New Zealand’s central bank intends to reduce interest rates toward a more neutral setting at a measured pace, now that it has begun its easing cycle, Reserve Bank Governor Adrian Orr said. Most Read from Bloomberg The RBNZ cut the Official Cash Rate by a quarter-percentage point to 5.25% yesterday and forecast it

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Operating Assets

Assessing the Costs of Rolling Over Government Debt

In the span of about one year, the Federal Open Market Committee (FOMC) has raised the federal funds target rate from near zero to around 5%. This has driven up other rates—mortgages, US Treasuries, bank loans, etc. Given the high speed at which rates have risen, there are concerns about the cost of rolling over

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Financial Assets

Britons must ‘be quick to grab’ top 10.38% interest rate

Experts are reminding Britons “to be quick to grab” the best savings account as deals with higher interest rates are being withdrawn from the market. High street banks and building societies, including Nationwide, NatWest and Royal Bank of Scotland, are taking action after the Bank of England’s decision to slash the base rate earlier this

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