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Strong mortgage originations have propped up bank earnings over the past several quarters, but the trend may have weakened in the first quarter, according to FBR Capital, which lowered the earnings estimate for six banks. TheStreet.com reports.
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Strong mortgage originations have propped up bank earnings over the past several quarters, but the trend may have weakened in the first quarter, according to FBR Capital, which lowered the earnings estimate for six banks. TheStreet.com reports.
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Earnings begins Monday with Alcoa, reports CNBC's Bob Pisani, but the real earnings season, he says, starts Friday, with JPMorgan and Wells Fargo.
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Spain's banking bailout last year is now a distant memory. But according to one strategist, Spain's fragile economy now faces the possibility of tipping over into a renewed credit crunch.
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TOKYO, April 5- The Bank of Japan's decision to fire one big shot in its fight to end deflation is a clear signal new Governor Haruhiko Kuroda is not one for constant tinkering with settings, and it will take something big for him to load up his policy cannon again.
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Bank of Japan Governor Haruhiko Kuroda played down concerns his burst of monetary stimulus would create asset-price bubbles even as it delivered an immediate pay-off in global markets, with government bond yields at a record low, the yen hitting a 3-1/2 year trough and stocks surging to multi-year highs.
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Hiroshi Watanabe, President & CEO at Japan Bank for International Cooperation is optimistic on Japan markets with Shinzo Abe at the helm and Haruhiko Kuroda at the BOJ. He expects the inflation rate and wages to rise.
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Andrew Sheng, Chief Advisor at China Banking Regulatory Commission discusses the state of China's banking sector, saying the industry continues to grow despite the nation's shadow banking practices.
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NEW YORK, April 4- For a business whose main products fetch record prices, the financial services industry sure is firing a lot of people. That combination may illustrate why finance is a sector you want to own, very possibly for the long haul. Financial conditions are bank friendly; The stock market is at or near all-time records and demand for risky bonds is high.
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WASHINGTON, April 4- The Federal Reserve should focus its energies on bringing down an elevated U.S. unemployment rate even if inflation "slightly" exceeds the central bank's target, Fed Vice Chair Janet Yellen said on Thursday.
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*Yen sinks 3.3 pct vs U.S. dollar on bold Bank of Japan easing. NEW YORK, April 4- The yen slumped on Thursday after the Bank of Japan unveiled a bold plan to pump money into the economy, while U.S. stocks gained on investor optimism that expansionary central bank policies would remain supportive for equities.
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*Bank of Japan steps up asset purchases to boost economy. Treasury debt market rallied on Thursday as investors sought higher-yielding dollar assets after the Bank of Japan said it would step up asset purchases to boost its economy, sending Japanese bond yields to record lows.
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The list of companies deemed by regulators as too big to fail may be getting bigger, reports CNBC's Kayla Tausche.
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*Yen sinks 3.3 pct vs dollar on bold Bank of Japan easing. NEW YORK, April 4- The yen sank on Thursday after the Bank of Japan unveiled a bold plan to pump money into the economy, pushing the dollar higher, while U.S. stocks edged higher on investor relief that central bank policies would remain supportive for equities.
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NICOSIA, April 4- Public shock in Cyprus about the tough terms of an international bailout is turning into anger as millions of euros remain locked in the country's banks.
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DAYTON, Ohio, April 4- A second Federal Reserve official has suggested that U.S. interest rates may have to remain near zero until the unemployment rate falls as low as 5.5 percent, lower than the 6.5 percent threshold the U.S. central bank has in mind.
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WASHINGTON, April 4- Hedge fund and derivative investors are taking on more risk as aggressive monetary easing and an improving economy boost demand for higher-yielding securities, a Federal Reserve survey showed on Thursday.
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Patrick Jenkins, banking editor at Financial Times, tells CNBC that the HBOS report will lift the lid on a culture "driven by seeking profit at all costs" which should provide lessons for the future.
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Bank chiefs at HBOS, once one of Britain's biggest banks, were condemned as a "model of self-delusion", in a damming report by Britain's Banking Standards Commission on Friday.
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*ECB keeps interest rates at 0.75 pct. FRANKFURT, April 4- European Central Bank President Mario Draghi opened the door on Thursday to an interest rate cut as soon as next month, saying his bank stands "ready to act" to boost the recession-hit euro zone economy.
