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SPY

IMF's Georgieva suggests the potential for one Federal Reserve rate cut in 2024, with further cuts possible in 2025. This could impact market sentiment and investor expectations.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 7:34 pm

SPY

IMF's Georgieva advises the U.S. Federal Reserve to lower policy rates only after clear evidence of inflation returning to the 2% target. The IMF's U.S. inflation forecast is slightly more optimistic than the Fed's. Additionally, U.S. consumer spending boost from COVID-era wealth may be subsiding, easing inflation pressure.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 7:21 pm

SPY

Fed's Bowman warns that easier financial conditions could drive up inflation, with upside risks persisting. He expects only modest progress on lowering inflation this year. The economy remains strong but activity has moderated. Bowman is concerned about the decline in the number of U.S. banks and the lack of new bank creation, which could create financial issues.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 6:07 pm

SPY

Fed's Bowman stated that the Federal Reserve is not yet at a point where it can consider a rate cut. If inflation moves toward 2%, an eventual rate cut could be on the table. Current Fed policy is restrictive, and Bowman is still willing to raise rates again if inflation doesn't ease. He remains cautious in weighing future Fed rate changes.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 6:06 pm

HSBC

XBP Europe Holdings has completed a $48 million financing agreement to fund its growth. The financing includes term loans and a revolving credit facility, with an additional accordion feature for up to $18 million, all facilitated by HSBC.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 5:47 pm

GRFS

Grifols expects its leverage ratio to decrease to 5.4x by the end of June 2024, down from 6.8x in March 2024, due to SRAAS proceeds. The company anticipates positive free cash flow in Q2 2024, contributing to its FY24 guidance of €5 million, which includes €480 million of extraordinary items. By the end of June, liquidity is expected to exceed €2.4 billion, including SRAAS proceeds. Grifols is a completely separate entity from Scranton, with none of Scranton's liabilities consolidated in the company's group.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 4:37 pm

SPY

Atlanta Fed's Bostic discusses housing costs, labor market, and economic activity. He is confident that shelter inflation will decrease and notes a 'loosening' labor market. GDP and job market data suggest an 'orderly deceleration' to balance supply and demand and lower inflation.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 2:02 pm

SPY

Atlanta Fed's Bostic indicates that inflation is moving in the right direction and suggests a potential interest rate cut in Q4. He has penciled in four quarter-percentage-point rate cuts for 2025, emphasizing the need for patience and certainty that inflation will return to 2% before initiating cuts.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 2:01 pm

BAC

C

JPM

MS

USB

WFC

The Federal Reserve's 2024 Stress Test results revealed that major American banks, including Wells Fargo, Bank of America, Morgan Stanley, and U.S. Bancorp, faced higher-than-expected potential losses. The market is likely to view these results as disappointing, with significant increases in Stress Test Capital Buffers (SCBs) for several banks.

Portfolio Pulse from Piero Cingari

June 27, 2024 | 1:43 pm

HUBC

Hub Security has restructured $8M of its debt due this month and secured an additional $2M in debt financing. Key shareholders exercised warrants at $0.90 per share, adding $5M in capital.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 12:13 pm