Streetbeat News

Credit

MBWM

Mercantile Bank's Q1 provisions for credit losses increased to $1.3M from $0.6M year-over-year.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 9:09 am

AKR

Acadia Realty Trust has expanded its senior unsecured revolving credit and term loan facility to $750M, with options to extend and expand to $900M. The facility now matures on April 15, 2028.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 8:18 am

IEF

TLT

U.S. Treasury yields have surged to 6-month highs, driven by economic resilience and inflation, moving away from expectations of Federal Reserve rate cuts. The yield on the 10-year Treasury note reached 4.61%, with bond ETFs like the iShares 7-10 Year Treasury Bond ETF (IEF) and the iShares 20+ Year Treasury Bond ETF (TLT) experiencing significant declines. UBS warns of potential Fed rate hikes to 6.5% if inflation remains high, potentially leading to a downturn in bonds and stocks.

Portfolio Pulse from Piero Cingari

April 15, 2024 | 9:04 pm

GS

Goldman Sachs reported a Q1 provision for credit losses of $318M, a significant shift from a net benefit of $171M in the same quarter last year.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 11:32 am

SPY

Fed's Daly commented on the excessive focus on the number of rate cuts, emphasizing the goal of reducing inflation to 2% gently. Daly stated that bumps along the way should not be surprising and affirmed the Fed's commitment to maintaining its policy stance as long as necessary to achieve this goal.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 7:37 pm

SPY

Fed's Daly emphasized the need for confidence in inflation reducing to 2% before contemplating a rate cut, stating the economy and policy rate are currently well-positioned. However, she noted there's significant work ahead to reach that level of confidence.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 7:36 pm

SPY

Fed's Schmid highlighted the ongoing labor market imbalance signaled by wage growth, emphasizing the importance of tolerating interest rate volatility. He advocated for a much smaller Fed balance sheet, arguing that its current size suppresses market rate signals and depresses market rates.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 5:38 pm

WFC

Wells Fargo's CEO highlighted the ongoing strength in the U.S. economy, maintaining their stance on commercial real estate and noting that consumer and wholesale credit are performing as expected. He also mentioned that market and rate volatility is likely to continue. These insights were shared during a conference call.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 2:10 pm

JPM

JP Morgan CEO commented on the unprecedented scale of quantitative tightening, indicating that its full effects have yet to be fully realized in the market.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 10:54 am

BLK

Blackrock has issued $3 billion in debt to partially fund its planned acquisition of Global Infrastructure Partners. This strategic move aims to bolster Blackrock's position in the infrastructure investment sector.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 10:01 am