Citigroup Options Spot-On: On August 5th, 139.55K Contracts Were Traded, With 2.29 Million Open Interest
Citi Executive Suddenly Exits Amid Jane Fraser's Wealth Unit Turnaround -- Barrons.com
The One-year Decline in Earnings Might Be Taking Its Toll on Citigroup (NYSE:C) Shareholders as Stock Falls 8.6% Over the Past Week
This Is What Whales Are Betting On Citigroup
Express News | Shares of Banking Companies Are Trading Lower Amid Overall Market Weakness on US Economic Concerns
Big Banks Reevaluating Fed Rate Cut Forecasts
Chicago Fed President Charles Evans: Fed will not overreact.
Chicago Federal Reserve Bank President, Charles Evans reiterated that the central bank's duty is not to react to weak monthly employment data, and added that market volatility is far greater than the actions of the Federal Reserve. Last week's economic data in the United States was weak, especially the employment report last Friday which was below expectations, causing concerns for an economic recession and fueling a global stock market crash. Evans said that there are some alarming indicators, such as an increase in consumer loan delinquencies, but economic growth remains at a "fairly stable level." Evans said on CNBC on Monday: "As you can see, the employment data was weaker than expected, but it doesn't look like the economy"
Express News | Shares of Wells Fargo Down 4.8%, Citigroup Down 7.3%, Goldman Sachs Down 6.6%
Express News | Shares of Big US Banks Fall; Shares of JPMorgan Down 3.8%, Morgan Stanley Down 4%, Bank of America Down 5.9%
Global bonds are rising faster, and the market is betting that central banks like the Federal Reserve will be more proactive in cutting interest rates.
As traders bet that the Federal Reserve and other central banks will be more aggressive in cutting interest rates, global bonds have risen. Short-term bonds led the way, with the U.S. 2-year Treasury notes yield falling 19 basis points to 1.69% at one point on Monday, the lowest level in over a year. In Europe, the decline in German bonds yields of a similar maturity was almost as steep, falling to 0.15%. The sharp repricing of global bonds led the swap market to expect a 60% chance of an emergency rate cut by the Fed in the coming week, with the Fed’s next scheduled meeting on September 18th. This probability later decreased, but it shows how nervous investors are. Increasing evidence shows that the American economy
The Reserve Bank of Australia is expected to maintain its current policy and be biased towards hawkishness, falling behind other central banks in starting an easing cycle.
The Reserve Bank of Australia is likely to be at the tail end of the global easing cycle, as local inflation, while cooling off, remains high, requiring the Reserve Bank of Australia to keep key rates at their 12-year highs. Economists forecast that the Reserve Bank of Australia will keep the cash rate at 4.35% for the sixth consecutive meeting on Tuesday. The decision of the policy committee will be released along with the bank's quarterly economic forecasts at 2:30 p.m. Sydney time, followed by a news conference by Governor Michele Bullock an hour later. The US Federal Reserve held an eagerly anticipated meeting last week before Australia announced its decision.
Are Banks Sweeping Dud Property Loans Under the Rug? -- Heard on the Street -- WSJ
Express News | Bank Stocks Fall Premarket on U.S. Recession Fears
Express News | JPMorgan Down 3.1%, Wells Fargo Down 1.6%, Goldman Sachs Down 1.6%, Morgan Stanley Down 3.7%, Citigroup Down 4.5%, Bank of America Down 4.4%
Barclays Maintains Citigroup(C.US) With Hold Rating, Maintains Target Price $63
KBW Maintains Citigroup(C.US) With Hold Rating, Cuts Target Price to $67
Express News | Citigroup : KBW Cuts Target Price to $67 From $69
Goldman Sachs economists have raised the probability of a US economic recession to 25%, but believe the risk is "limited".
Goldman Sachs economists have raised the probability of a US economic recession in the next year from 15% to 25%, but they say there are several reasons why the recession need not be feared even if the unemployment rate rises. "We still believe that the risk of a recession is limited," said Jan Hatzius and other Goldman Sachs economists in a report to clients on Sunday. They said the US economy still looks "overall good", with no major financial imbalances, the Federal Reserve has a lot of room to cut interest rates, and can cut them quickly when necessary. Data released last week showed that the slowdown in US job growth in July was greater than expected, and the unemployment rate rose to the highest level in nearly three years.
Express News | Citigroup : HSBC Raises Target Price to $73 From $72
Zelle payment application faces investigation. JPMorgan is considering suing regulatory institutions.
Zelle is owned by seven major banks, including JPMorgan and Bank of America. Since its launch in 2017, Zelle has grown into a leading peer-to-peer payment network in the USA. Over 100 million consumers can use Zelle through their Bank of America accounts.