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People Moves Asia: Citi appoints new APAC industrials head; MUFG bolsters Asia trade finance team
Capital Markets
Citi names new APAC industrials chief. Citi has appointed Deborah Mur as its new Asia-Pacific industrials, energy, and power sector head as well as its new Singapore treasury and trade solutions (TTS) chief. Mur, a 25-year Citi veteran, was previously the firm’s Western Europe head of TTS. The Corporate Treasurer (paywall) Another Goldman banker heads to Leonteq. Heiko Steinmetz, an
Citi gets clients' vote
Capital Markets
Fixed income trading revenues at Wall Street banks slumped last year, as markets anticipated a lift-off in Federal Reserve interest rates. Investors tended to park their cash in short duration treasury bonds, and demanded higher yield premiums for longer-dated new deals by lower-grade credits. New issuance volume sank in Asia-Pacific too, according to research by the Asia Securities Industry &
Deutsche's CEO wishes he worked for Wells Fargo
Capital Markets
Deutsche Bank CEO John Cryan had a terrible, horrible, no good, very bad day. The German bank reported a $7.4 billion loss for 2015 Thursday, and said management bonuses are canceled all around. Cryan is taking the loss pretty hard, saying he wishes he was running Wells Fargo right about now. "I would love to make 400 basis points in
Russians attack the dollar’s ‘exorbitant privilege’
In song. Beat that, ghost of Charles de Gaulle (paywall). Photo: Purple Slog
Daily Scan: Oil and stocks rise; Deutsche devastated with losses
Capital Markets
Updated throughout the day January 28, 2016 5:30 p.m. ET/January 29, 2016 6:30 a.m. HKT The major U.S. indices jumped up after a fairly stagnant Thursday morning. The Dow added 0.8%, and the S&P 500 closed up 0.6%. The Nasdaq gained 0.9%. U.S. crude oil passed $33/barrel. There's plenty more earnings calls happening Friday, including: American Airlines, Chevron, Mastercard, and
Clueless in Davos
Capital Markets
Making their annual pilgrimage to the exclusive Swiss ski sanctuary of Davos last week, the world's political and financial elite once again gathered without having had the slightest idea of what was going on in the outside world. It appears that few of the attendees, if any, had any advance warning that 2016 would dawn with a global financial meltdown.
China’s bumpy new normal
Capital Markets
SHANGHAI – China’s shift from export-driven growth to a model based on domestic services and household consumption has been much bumpier than some anticipated, with stock-market gyrations and exchange-rate volatility inciting fears about the country’s economic stability. Yet by historical standards, China’s economy is still performing well – at near 7% annual GDP growth, some might sayvery well – but
Video: Where was the S&P 500 growth Tuesday?
The S&P 500 saw a big upward push Tuesday before falling more than 1% Wednesday. TAS Market's Steve Dahl explains the XLI and where the opportunities were Tuesday.
Daily Scan: Stocks slump after FOMC meeting; Libor brokers acquitted
Capital Markets
Updated throughout the day January 27, 2016 4:00 p.m. ET/January 27, 2016 5:00 a.m. HKT Dammit, Janet. The Federal Reserve said Wednesday that "economic growth slowed" since December, and stocks slumped in response. The Fed also said inflation isn't speeding toward the 2% target as they hoped, meaning the central bank will be very cautious about rising interest rates again
Getting real about the markets' plunge
Capital Markets
What has caused stock markets to tumble during the past three weeks? It's easy to talk vaguely about "sentiment" -- that's even a bit of a tautology. Or attribute price plunges to...take your pick: oil, China, U.S. interest rates, corporate foreign debt et al -- but these fears are always with us. So what about an explanation that is a tad more