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Rising bond yields are typically indicators of stronger economic growth and higher profits for banks. That might not be the case this time, as a 30-year bull market in U.S. government debt shows signs of coming to an end.
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Deepak Narula rose to fame as manager of the best-performing hedge fund last year by navigating the government’s stimulus efforts. He’s having a harder time as the Federal Reserve moves closer to an exit.
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The share of U.S. borrowers who owe more than their homes are worth fell to less than 20 percent in the first quarter as prices surged in hard-hit markets, according to CoreLogic Inc.
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Effective or not, bailouts somehow seem unjust. Why use taxpayer money to save the companies that actually caused the meltdown, the banks that made the reckless loans, and insurance companies that wrote too many credit- default swaps? More broadly, why save the state and local governments that offered overly generous pensions? Or auto companies too fat and lazy to match foreign competitors? They deserve to suffer the consequences of their behavior.
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Consumer borrowing in the U.S. accelerated in April as Americans took out more education and automobile loans.
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The following is the text of the Federal Reserve Board’s Fourth District-- Cleveland.
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About 22 million Americans may lack enough home equity to move, keeping property listings tight and limiting sales as the housing market recovers, Zillow Inc. said.
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National Bank of Canada, the country’s sixth-largest lender, raised its dividend by 4.8 percent as it posted record second-quarter adjusted profit on consumer-lending growth.
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U.S. households reduced debt during the first quarter by 1 percent to the lowest level since 2006, resuming a deleveraging trend in the wake of the financial crisis, according to the Federal Reserve Bank of New York.
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Royal Bank of Canada, Bank of Nova Scotia and six other large Canadian lenders are trading at the lowest premium to U.S. bank stocks in more than two years, as their American counterparts regain the confidence of investors.
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