Streetbeat News

Credit

JPM

JP Morgan's Consumer Banking CEO Marianne Lake reports that consumers remain healthy and resilient, though there is a slowdown in discretionary spending. Demand for credit from small businesses is muted, but loss rates are expected to remain stable. Card delinquencies and charge-offs have normalized.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 1:59 pm

SPY

Fed's Barr highlights concerns about the discount window affecting banks of all sizes.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 1:31 pm

SPY

Fed Vice Chair Barr stated that significant progress has been made in improving discount window operations, but more work remains. He hopes that a preparedness requirement will reduce the stigma and encourage usage of the discount window.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 1:24 pm

SPY

Fed Vice Chair Barr stated that the Federal Reserve aims to avoid a balance sheet size that could interfere with controlling the federal funds rate. He also mentioned that most funds in the private credit market are not from highly leveraged entities and face no run risk. However, if private credit markets were to move to an open-ended retail structure, it would be a cause for concern.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 1:20 pm

SPY

Fed Vice Chair Barr announced that regulators are exploring 'targeted adjustments' to existing liquidity rules. This includes requiring larger banks to hold minimum levels of reserves and pre-positioned collateral at the discount window, as well as ensuring they have available liquidity to cover uninsured deposits.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 12:58 pm

ALTG

Alta Equipment Group Inc. (NYSE: ALTG) announced a proposed private offering of $500 million in senior secured second lien notes due 2029. The company plans to use the proceeds to refinance existing debt and for general corporate purposes. The offering is expected to be leverage neutral.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 11:36 am

C

Citigroup has redeemed $1.5 billion of 4.140% fixed rate, floating rate notes due 2025 and $500 million floating rate notes due 2025.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 8:17 pm

AXP

C

COF

JPM

MA

V

The New York Fed's latest report highlights rising credit card delinquency rates, particularly among Gen Z consumers. High utilization rates and enduring inflation are contributing factors. This trend poses challenges for credit card companies like American Express, Visa, Capital One, and Mastercard, as well as financial institutions such as J.P. Morgan Chase and Citigroup.

Portfolio Pulse from Hayden Buckfire

May 17, 2024 | 7:20 pm

TLT

Bank of America's chief investment strategist, Michael Hartnett, suggests 30-year Treasury bonds as the best hedge against a potential hard landing in the U.S. economy. Despite a significant decline in these bonds, Hartnett believes they could rebound strongly. He also shares views on other asset classes, including commodities, U.S. stocks, and gold.

Portfolio Pulse from Piero Cingari

May 17, 2024 | 1:45 pm

JPM

Jamie Dimon, CEO of JPMorgan Chase & Co, warns of persistent inflationary pressures in the U.S. economy, suggesting higher interest rates may persist longer than expected. Factors contributing to inflation include green economy costs, re-militarization, infrastructure spending, and fiscal deficits. Dimon's concerns align with broader global economic trends and recent government spending impacts.

Portfolio Pulse from Benzinga Neuro

May 17, 2024 | 8:53 am