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Wall Street banks are getting ready to jump as Russia's invasion of Ukraine
... in the middle of many counterparties to help them manage and trade their risk, said Mike Mayo , senior banking analyst at Wells Fargo . We've already had guidance for trading to be up 15% to 25% year over year for the largest banks. According to RBC Capital Markets , markets revenue at the big U.S. banks are expected to increase by 17% year-on-year, driven primarily by fixed-income commodities and currencies, or FICC, business. Andy Morton, the global head of markets at Citigroup Inc, told a conference last ...
Updated: 07/11/2022
Oil on course for weekly loss after choppy trading
... with Goldman Sachs Group Inc. being broadly bullish, while Citigroup Inc. has said the commodity is at risk of a major tumble. The financial oil market is dwindling dramatically from an extremely tight spot physical market, according to analysts at RBC Capital Markets , including Helima Croft and Michael Tran . The physical market is pricing in scarcity, while the financial market is pricing in a recession. In a sign of tightness, oil markets remain in a backward pattern, a bullish pattern marked by near-term ...
Updated: 07/08/2022
Amazon and Just Eat Takeaway share soar on Grubhub deal
... this year and aimed to show that the higher price-tag is worth it. After exiting the business in 2019 due to a lack of enough restaurant supply, analysts said this was an easy, inexpensive way for Amazon to resume US restaurant delivery. Analysts at RBC Capital Markets wrote. The deal allows Amazon , which has for years acquired warrants to buy shares in air transportation and food distribution companies, to support the online retailer's business without the need for any money for a total acquisition. The company ...
Updated: 07/06/2022
Stock of Rivian surges 11% after Q2 results
... said that Rivian's production rates must double from here in the second quarter of the year. Joseph Spak said in a note from RBC Capital, deliveries were stronger than expected. We believe that the results will boost investor confidence in the year 2022. ... ... qualitative commentary that gives investors more confidence in the 25,000 production target, Spak said. Nearly 60% of the company's market cap was held by the end of March, despite the fact that Rivian is expected to post losses for the foreseeable future, according ...
Updated: 07/06/2022
Why the U.K. is so quiet
... GBPUSD on worries about political turmoil. There is no surge in sterling due to the belief that a new leader for the supposedly market friendly Conservative party could help their re-election at the next election. Adam Cole , chief currency strategist at RBC Capital Markets, said that the days were gone when a U.K. chancellor and an open split with the prime minister were big news in foreign exchange. Why is the relative calm? Most Parliament watchers believe that Johnson 's days are definitely numbered after a ...
Updated: 07/06/2022
Rising currencies, commodities rally on US tariffs
... increasing trade barriers. The rand and the Aussie are trading near the lowest levels since 2020. The moves may be unsustainable given the trajectory of tighter global monetary policy, according to some strategists. Adam Cole , chief currency strategist at RBC Capital Markets , said the rally should not run too far. This is just a small offset to those factors. Generations of Black Americans lost their land to a tax lien by the end of the day.
Updated: 07/04/2022
FOREX-Dollar on track for best week in four as investors weigh U.S. recession risks
... It gained 0.66% in a complex push and pull for the week because of fears of a global slowdown that hurt the greenback's appeal due to its haven status. The market will be watching for weakness in U.S. ISM manufacturing figures later in the day. The RBC Capital Markets strategists wrote in a note to clients that the USD sentiment has deteriorated because of rising recession fears, but focusing on U.S. growth in isolation has never been a good way to trade USD. The odds of the United States falling into recession ...
Updated: 07/01/2022
Global equities, bond yields fall on inflation fears
... causing inflation fears to rise further, sending Brent crude futures above $117 a barrel. The market is stuck in the push-pull between the current deteriorating macro backdrop and the looming threat of a recession, against the strongest fundamental oil market set-up in decades, maybe ever, said Mike Tran, CFO at RBC Capital. The OPEC crude exporters group started a two-day meeting on Wednesday but big policy changes look unlikely, with the United Arab Emirates Energy Minister Suhail al-Mazrouei already indicating his country is pumping close to capacity. Market ...
Updated: 06/29/2022
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