Banking News – European exchanges reject calls for shorter trading day
 Fund managers and banks say long hours are antisocial and excessive
Fiscal Times – Fiscal Air force – https://www.ft.com/content/ce33e8bd-1d2b-4a4d-b8ff-8a93d9925517
Month: June 2020
H2O sticks to its guns despite €1bn investor redemptions
Banking News – H2O sticks to its guns despite €1bn shareholder redemptions Natixis subsidiary stands by so far unsuccessful bet against US Treasuries
Fiscal Times – Fiscal Air force – https://www.ft.com/content/b501850b-50c7-4595-b5da-98751b322e24
Europe outperforms Wall Street as investors look across the Atlantic
Banking News – Europe outperforms Wall Street as investors look across the Atlantic S&P 500 index finished June 1.8 per cent higher while Euro Stoxx 600 index rose 3 per cent
FT.com – Banks – https://www.ft.com/content/32cd7636-8f04-40ba-a90f-4c2dce470067
AI & Robotics
Banking News – AI & Robotics Recyclers turn to AI-powered robots to counter China’s plastic import ban; historians harness machine culture to solve ancient puzzles; and farmers pick high-tech robotics to help bring in the harvest
Fiscal Times – Fiscal Air force – https://www.ft.com/reports/ai-robotics
Senate passes extension of Paycheck Protection Program
Banking News – Senate passes additional room of Pay packet Safeguard Program The additional room to Aug. 8 was offered by Sen. Ben Cardin, a Maryland Democrat, and cleared the chamber by entire consent. The House has yet to take up the bill but could pass it as soon as Tuesday night.
Union Banking – https://www.americanbanker.com/articles/senate-passes-additional room-of-pay packet-safeguard-program
Senate passes extension of Paycheck Protection Program
Banking News – Senate passes additional room of Pay packet Safeguard Program The additional room to Aug. 8 was offered by Sen. Ben Cardin, a Maryland Democrat, and cleared the chamber by entire consent. The House has yet to take up the bill but could pass it as soon as Tuesday night.
Union Banking – https://www.americanbanker.com/articles/senate-passes-additional room-of-pay packet-safeguard-program
Senate passes extension of Paycheck Protection Program
Banking News – Senate passes additional room of Pay packet Safeguard Program The additional room to Aug. 8 was offered by Sen. Ben Cardin, a Maryland Democrat, and cleared the chamber by entire consent. The House has yet to take up the bill but could pass it as soon as Tuesday night.
Union Banking – https://www.americanbanker.com/articles/senate-passes-additional room-of-pay packet-safeguard-program
Apprenticeships at center of Massachusetts bank’s diversity push
Banking News – Apprenticeships at center of Massachusetts bank’s diversity push Reading Encouraging Bank just launched a program that aims to hire young Black and Hispanic adults from low-income communities. Its leaders say it’s part of a broad approach to develop new pipelines of talent and better serve low-income communities.
Union Banking – https://www.americanbanker.com/news/apprenticeships-at-center-of-massachusetts-banks-diversity-push
Apprenticeships at center of Massachusetts bank’s diversity push
Banking News – Apprenticeships at center of Massachusetts bank’s diversity push Reading Encouraging Bank just launched a program that aims to hire young Black and Hispanic adults from low-income communities. Its leaders say it’s part of a broad approach to develop new pipelines of talent and better serve low-income communities.
Union Banking – https://www.americanbanker.com/news/apprenticeships-at-center-of-massachusetts-banks-diversity-push
Apprenticeships at center of Massachusetts bank’s diversity push
Banking News – Apprenticeships at center of Massachusetts bank’s diversity push Reading Encouraging Bank just launched a program that aims to hire young Black and Hispanic adults from low-income communities. Its leaders say it’s part of a broad approach to develop new pipelines of talent and better serve low-income communities.
Union Banking – https://www.americanbanker.com/news/apprenticeships-at-center-of-massachusetts-banks-diversity-push
Chase announces extra rewards for Sapphire cardholders
Private Finance – Chase announces extra rewards for Cobalt cardholders Credit card companies have been busy rolling out perks and facial appearance to help their void customers take up again to get the most out of their cards during this bizarre time. All […]
CardRatings Credit Card News – https://www.cardratings.com/chase-cobalt-covid-perks.html
Banks ‘not getting a ton of interest’ in Main Street program: Powell
Banking News – Banks ‘not getting a ton of appeal’ in Main Street program: Powell Federal Reserve Chairman Jerome Powell said about 300 lenders have signed on to the program and that the central bank is committed to making adjustments that could attract more borrowers.
Union Banking – https://www.americanbanker.com/news/banks-not-getting-a-ton-of-appeal-in-main-street-program-powell
Banks ‘not getting a ton of interest’ in Main Street program: Powell
Banking News – Banks ‘not getting a ton of appeal’ in Main Street program: Powell Federal Reserve Chairman Jerome Powell said about 300 lenders have signed on to the program and that the central bank is committed to making adjustments that could attract more borrowers.
Union Banking – https://www.americanbanker.com/news/banks-not-getting-a-ton-of-appeal-in-main-street-program-powell
Banks ‘not getting a ton of interest’ in Main Street program: Powell
Banking News – Banks ‘not getting a ton of appeal’ in Main Street program: Powell Federal Reserve Chairman Jerome Powell said about 300 lenders have signed on to the program and that the central bank is committed to making adjustments that could attract more borrowers.
Union Banking – https://www.americanbanker.com/news/banks-not-getting-a-ton-of-appeal-in-main-street-program-powell
Stock Market Today: Stocks Close Stellar Q2 With a Flourish
Private Finance – Stock Market Today: Stocks Close Stellar Q2 With a Thrive
It’s trying to cast these past three months in a clear light given the fallout of the COVID-19 endemic, but, for the stock market, Q2 was in fact a quarter to dredge up.
A day of gains for tech- and tech-adjacent sectors led the major blue-chip indices to higher ground, capping their best weekly performances in years.
Tuesday’s gains came on small to crow about, mind you.
Joint authentication from Reserves Desk Steve Mnuchin and Federal Reserve Chair Jerome Powell painted a mixed picture of America’s fiscal getting better. And Dr. Anthony Fauci, the nation’s leading communicable-diseases expert, said America’s daily coronavirus caseload could hit 100,000 if current trends take up again, warning that America isn’t “in total control” of the endemic.
The tech-heavy Nasdaq, led by the likes of Amazon.com (AMZN, +2.9%) and Nvidia (NVDA, +3.2%), still pushed 1.9% higher to 10,058, capping a 30.6% three-month gain that marked its most productive quarter since 2001.
The Dow, which closed with a 0.9% gain to 25,812, loved its best quarter since 1987 with a 17.8% rally. And the S&P 500, up 1.5% to 3,100, posted a 20.0% weekly return for its best Q2 since the index’s commencement in 1957. The small-cap Russell 2000 climbed 1.4% to 1,441, its best quarter since 1991.
What’s in Store for Stocks in Q3?
As luck would have it, investors will get a day off early in the quarter. The stock and bond markets will be closed Friday in routine of independence Day, as July 4 falls on a Saturday this year.
More broadly language, we enter Q3 in a much uncommon place than we entered Q2 … but in a nonetheless similar scenario.
While stocks are in the middle of a heater, as opposed to in the midst of the quickest bear-market decline in U.S. history, the American fiscal horizon appears every bit as foggy now as it did three months ago.
How quickly will jobs return? Will House of representatives pass another round of spur? How will the evolving presidential race weigh on or prop up the stock market? Will we take the upper hand against COVID-19? These are just a few of the questions that, when answered, could take stocks for another wild ride between now and the end of September.
Wells Fargo Investment Institute analysts are to some extent optimistic, writing that “We expect a moderate recovery later a strong, third-quarter start” in a recent note to clients. But, “while the U.S. economy appears poised to recover, the timing remains unclear, and the path likely will be full of twists and turns.”
Some investors might do well just to stuff their money into solid long-term worth and wait it out. For some, that means highly rated blue-chip stocks and diversified funds with wallet-forthcoming fees.
For others with approximate money to spare, but, it’s a chance to try to capture many of the wild swings that have peppered the stock market in 2020. Growth stocks in general might be enough to satisfy those whims, but some prefer to delve into Wall Street’s allegorical “bargain bin.”
While cheap stocks with single-digit prices are a source of sky-high risk, these opportunities can nonetheless add alpha when traded in small amounts as part of a diversified approach with strong core funds. These five names in fastidious have their blemishes, but each has the kind of the makings that attracts the stock market’s thrill seekers.
Kyle Woodley was long AMZN as of this writing.
Kiplinger Private Finance – https://www.kiplinger.com/investing/stocks/601005/stock-market-today-stocks-close-stellar-q2-with-a-thrive
Dodd-Frank has softened blow of pandemic, its authors say
Banking News – Dodd-Frank has softened blow of endemic, its authors say Chris Dodd and Barney Frank said the legislation — nearing its 10th anniversary — place banks in spot to be a stabilizing force during the coronavirus crisis.
Union Banking – https://www.americanbanker.com/news/dodd-frank-has-softened-blow-of-endemic-its-authors-say
Dodd-Frank has softened blow of pandemic, its authors say
Banking News – Dodd-Frank has softened blow of endemic, its authors say Chris Dodd and Barney Frank said the legislation — nearing its 10th anniversary — place banks in spot to be a stabilizing force during the coronavirus crisis.
Union Banking – https://www.americanbanker.com/news/dodd-frank-has-softened-blow-of-endemic-its-authors-say
Dodd-Frank has softened blow of pandemic, its authors say
Banking News – Dodd-Frank has softened blow of endemic, its authors say Chris Dodd and Barney Frank said the legislation — nearing its 10th anniversary — place banks in spot to be a stabilizing force during the coronavirus crisis.
Union Banking – https://www.americanbanker.com/news/dodd-frank-has-softened-blow-of-endemic-its-authors-say
Pack of regionals can satisfy stress tests with minimum buffer
Banking News – Pack of regionals can satisfy stress tests with minimum buffer Six of the eight regional banks that announced their stress capital buffers on Tuesday said they will need just a 2.5% cushion to weather an fiscal dip. All eight said they’ll keep their dividends steady.
Union Banking – https://www.americanbanker.com/news/pack-of-regionals-can-satisfy-stress-tests-with-minimum-buffer
Pack of regionals can satisfy stress tests with minimum buffer
Banking News – Pack of regionals can satisfy stress tests with minimum buffer Six of the eight regional banks that announced their stress capital buffers on Tuesday said they will need just a 2.5% cushion to weather an fiscal dip. All eight said they’ll keep their dividends steady.
Union Banking – https://www.americanbanker.com/news/pack-of-regionals-can-satisfy-stress-tests-with-minimum-buffer