Goldstone Financial Group, with locations around the Chicago area, focuses on building clients a holistic investment plan.
The weather is warming up, birds are singing, snow is melting and people are smiling. You know what that means? Tax refund season is in full swing. I'm always a bit baffled when folks act like they've...
- FX Empire
AUD/USD and NZD/USD Fundamental Daily Forecast – RBA Has to Find a Way to Regain Investor Confidence in Policy
Investors are wagering the RBA might have to hike rates as early as next year, even when policy makers have said no move was likely until 2024.
- Simply Wall St.
A look at the shareholders of The a2 Milk Company Limited ( NZSE:ATM ) can tell us which group is most powerful...
(Bloomberg) -- The European Central Bank will reveal on Monday how serious it is about countering rising bond yields.After days of top policy makers saying they won’t tolerate higher yields if they undermine the economy, the institution will publish its latest bond-buying figures at 3:45 p.m. Frankfurt time. A significant increase in purchases would show they are backing their words with action.Yet if the amount is little changed it could convince investors to push on with reflation trades, which are effectively bets the ECB will tolerate higher borrowing costs as the economy begins to recover.Last week, those wagers sent yields across the region surging. Perhaps worryingly for President Christine Lagarde, they also widened the premium investors demand to hold the debt of the region’s riskiest nations, like Italy and Greece.The trend is raising fears that the economic recovery being fostered by the torrent of cheap central bank money could be derailed for the region at large.“Actions speak louder than words,” said Mark Dowding, a money manager at Bluebay Asset Management, who bet on Friday morning that European debt prices will rebound. “If the ECB is serious about wanting to stem a rise in yields, which could bring about a premature tightening in financial conditions, then it will need to act.”European bond markets rallied Monday, lead by Italy, which saw the yield on 10-year bonds drop six basis points to 0.70%. Those on their German peers fell three basis points to -0.29%, marking the second day of declines.The focus is on the ECB’s most-flexible bond plan, the 1.85 trillion-euro ($2.2 trillion) pandemic emergency purchase program, the key crisis-fighting tool unveiled by the central bank in the early days of the outbreak. In the week ended Feb. 19, the central bank increased its holdings by 17.2 billion euros, barely any higher than the previous week.The weekly ECB data will be for the euro area as a whole -- country breakdowns for the pandemic program are only published every two months, so it won’t be clear if policy makers are targeting specific bond spreads.Over in the U.S., the economy is rapidly recovering as vaccines are rolled out quickly and where the government is preparing a massive fiscal stimulus package. In contrast, the euro-zone has been slow in inoculating the population and has had to extend business and social restrictions to contain the virus.Its fiscal support is also smaller, and a breakthrough recovery fund won’t kick in until the middle of the year. The economy is set to contract this quarter, and the ECB expects any inflation spikes this year to be only temporary, with job losses and uncertainty pushing down on prices.Read more: Europe’s Recovery Choices Will Leave It a Year Behind the U.S.Lagarde kicked off the past week by saying policy makers are “closely monitoring” nominal government bond yields because banks use them as benchmarks for the cost of loans to companies and households.Chief Economist Philip Lane said on Thursday that the central bank will use the flexibility of its pandemic program to prevent any tightening of financial conditions that is “inconsistent” with its inflation goal. Those remarks only briefly stemmed the selloff.Executive Board member Isabel Schnabel, who is responsible for market operations, said on Friday that a rise in real long-term rates may withdraw vital policy support too early, and that “policy will then have to step up its level of support.”Economists at BofA Global Research said the central bankers appear to be getting nervous, and that persistently rising yields show the increase in buying so far clearly isn’t sufficient.“When the ECB is not making words and actions match, questions are asked,” they wrote in a report on Friday. “Letting market dynamics run further risks making a correction more costly.”This week:Aside from PEPP purchase figures on Monday, preliminary CPI data for February from across the region has the potential to add further impetus to the bond sell off if it comes in higher than expected on TuesdayEuro area CPI YoY estimate is 1%, with a prior reading of 0.9%; Some focus will also be on final PMI readingsScheduled central bank speakers include ECB’s Guindos, Makhlouf and Villeroy on Monday, while Knot and Centeno speak ThursdayFor the U.K., the BOE’s Tenreyro speaks Wednesday, followed by Haskel Friday, while focus is also on the government’s budget and corresponding gilt outlook WednesdayThe bond supply outlook could help support markets with net supply turning negative in the face of sales from France and GermanyThe EU will sell more SURE bonds via syndicationFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
- Motley Fool
KOF earnings call for the period ending December 31, 2020.
(Bloomberg) -- Monday may provide the true test for Saudi Arabian markets following the U.S. intelligence report that said Crown Prince Mohammed bin Salman signed off on the killing of columnist Jamal Khashoggi.The benchmark Tadawul All Share Index fell 0.5% on Sunday, a move that barely reflected the slump in emerging markets at the end of last week when Saudi markets were closed. The relatively muted response may be a sign of relief that the sanctions announced by the U.S. weren’t tougher, though the lower participation of foreign investors on a Sunday might have clouded the picture, analysts said.President Joe Biden’s administration imposed only modest new sanctions on the kingdom when the report was released last week. Still, the president said in an interview with Univision News that he told Saudi King Salman that “the rules are changing” in the kingdom’s relationship with the U.S. and promised “significant changes” on Monday.Saudi Arabia said it “rejects the negative, false and unacceptable assessment in the report” that implicated the crown prince, the king’s son and effective ruler.The report “may affect international institutions’ flows into the Saudi market in the short term, especially until Biden’s Monday speech,” said Mohammed Ali Yasin, chief strategy officer at Al Dhabi Capital Ltd in Abu Dhabi. “But local money, whether retail or institutional, will be steady.”Outflows from the Saudi stock exchange rose to a record of 6.6 billion riyals ($1.76 billion) in October 2018, the month Khashoggi was killed at the Saudi consulate in Istanbul. It was the biggest exodus from Saudi markets since the country introduced measures in 2015 that made it easier for foreigners to invest in its stock market.Saudi bonds will be on investors’ radars in anticipation of further measures from Washington. The country’s $2.25 billion of dollar bonds maturing in 2061 rallied Friday, with yields falling 3 basis points, after dropping for five consecutive sessions. Meanwhile, the country’s risk of default as measured by credit default swaps jumped the most since September.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Brazos Electric Power Cooperative Inc is one of dozens of electricity providers facing enormous charges stemming from a severe cold snap last month. The fallout threatens utilities and power marketers who collectively face billions of dollars in blackout-related charges, executives said. Brazos and others that committed to provide power to the grid and could not, were required to buy replacement power at high rates and cover other firms' unpaid fees.
As the market nosedived last year, my older brother advised me to sell. I lost $80,000. How can I ever forgive him?
This time last year, when the market was nosediving, my older brother advised me to get out of the market, and go to cash to conserve my assets. The Moneyist: ‘Warren Buffett and Harry Potter couldn’t get those two retired early’: Our spendthrift neighbors said our adviser was ‘lousy.’
Hyatt Hotels Corp called symbols of hate "abhorrent" on Sunday after the design of a stage at the Conservative Political Action Conference at one of its hotels drew comparisons to a Norse rune used by Nazis during World War Two. High-profile Republicans including former President Donald Trump were attending the four-day event in Orlando, Florida, as conflict rages between Trump allies and establishment politicians trying to distance the party from him. A photo of the CPAC stage went viral on social media on Saturday, with thousands of Twitter users sharing posts comparing its distinctive design to an othala rune, one of many ancient European symbols that Nazis adopted to "reconstruct a mythic 'Aryan' past," according to the Anti-Defamation League.
(Bloomberg) -- Israel accused Iran of attacking one of its cargo ships in the Gulf of Oman last week, as tensions mount over the U.S.’s desire to rejoin a nuclear deal with Tehran.“It was indeed an act by Iran, that’s clear,” Israeli Prime Minister Benjamin Netanyahu said Monday in an interview with Kan radio, a local station. Iran “is Israel’s greatest enemy and we are striking it across the region.”The Israeli-owned car carrier, called the Helios Ray, was struck by an explosion while sailing 100 kilometers (62 miles) off the coast of Oman either on Feb. 25 or the early hours of Feb. 26. None of its crew was hurt and the vessel is now docked in Dubai for repairs.“We categorically reject” Israel’s accusation, a spokesman for the Iranian foreign ministry, Saeed Khatibzadeh, said in a press conference on Monday in Tehran.Friction between Israel and Iran has been high at a time U.S. President Joe Biden is exploring rejoining a 2015 accord designed to reduce Tehran’s nuclear activities. Netanyahu opposes Washington returning to the pact, saying it would pave the way for Iran to build a nuclear weapon. Biden’s predecessor, Donald Trump, withdrew the U.S. from the accord in 2018 and tightened sanctions on Iran.Iran has accused Israel of several attacks and killings in the past year. It said Israel sabotaged one of its nuclear facilities in July and assassinated a top Iranian nuclear scientist in November.Israeli media reported that the country launched missile strikes on Iranian targets in Syria over the weekend in response to the assault on the ship. Israel’s military did not comment.The Helios Ray, owned by Tel Aviv-based Ray Shipping Ltd., had traversed the Strait of Hormuz and was on its way to Singapore when the explosion occurred, according to tracking data compiled by Bloomberg and information from U.K. Maritime Trade Operations, which serves as a link between the Royal Navy and commercial vessels in high-risk areas. It turned around on Feb. 26.The Associated Press, citing unnamed American officials, said the explosion created two holes on each side of the ship, just above the waterline.Several merchant vessels have been attacked or detained in the Persian Gulf and Gulf of Oman over the last two years, rattling oil and shipping markets. Iran seized a South Korean-flagged oil tanker in the Strait of Hormuz in January and its forces boarded another ship in the Gulf of Oman in August 2020. It also detained the U.K.-flagged Stena Impero for several months in 2019.Four oil vessels were attacked with explosives in May 2019 while at anchorage off Fujairah, a United Arab Emirates port on the Gulf of Oman coast. Two more were sabotaged in the Gulf of Oman in June. Iran was blamed for the incidents but denied involvement.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
- Motley Fool
There might not be a one-size-fits-all manual for raising a child, but there are simple steps you can take to put your child on the path to building wealth. For example, the Roth IRA (a special individual retirement account) comes with incredible features that allow kids who earn income to stash away money in the account and accumulate tax-free income. The clock is ticking, so we'll start with a few items you need to know to give your child the best chance at financial success.
The payments in President Biden's COVID relief plan will rely on an IRS formula.
Find out Tiger Woods' net worth after he won his fifth Masters title on April 14. The victory was Woods' first major win in more than a decade.
My brother owes $10K to our late father’s estate. There’s no loan agreement and I’m executor. How should I approach repayment?
‘He feels that if he had paid this money back before dad passed, he would still get half back and, therefore, owes $5,000.’
Berkshire Hathaway Inc (NYSE: BRK-A) (NYSE: BRK-B) CEO Warren Buffett over the weekend wrote his annual letter to shareholders and highlighted the “power of repurchases” using Apple Inc (NASDAQ: AAPL) as an example. What Happened: Buffett said that Berkshire began buying shares of the iPhone maker in late 2016 and by early June 2018 owned more than one billion shares (adjusted for splits). “Saying that, I’m referencing the investment held in Berkshire’s general account and am excluding a very small and separately-managed holding of Apple shares that was subsequently sold. When we finished our purchases in mid-2018, Berkshire’s general account owned 5.2% of Apple,” wrote the veteran investor. The cost for acquiring that stake was $36 billion and since then Berkshire has enjoyed regular dividends averaging about $775 million annually and has pocketed an extra $11 billion in 2020 by selling a small part of its holdings. The continuous repurchase of shares by Apple and the consequent shrinking number of shares outstanding has meant that Berkshire now owns 5.4% of the Tim Cook-led company. “That increase was costless to us,” wrote Buffett. Why It Matters: Berkshire’s third-quarter operating profits declined 32% to $5.48 billion from $8.07 billion a year ago. The company repurchased .3 billion worth of stock in the period. Since Berkshire also repurchased its own shares during the past two and a half years, its shareholders now own a full 10% more of Apple’s assets and future earnings than they did in July 2018, wrote Buffett. “This agreeable dynamic continues. Berkshire has repurchased more shares since yearend and is likely to further reduce its share count in the future,” revealed the Oracle of Omaha. Buffett also pointed to Apple’s publicly stated intention to repurchase shares and thus Berkshire shareholders would find “their indirect ownership of Apple increasing as well.” This year the Buffet-led company cut its position in Apple by 6% to 887 million shares in the latest quarter but upped stakes in AbbVie Inc (NYSE: ABBV), Bristol-Myers Squibb Company (NYSE: BMY), and Merck & Co, Inc (NYSE: MRK). Apple still remains the single largest investment in Berkshire’s portfolio. Price Action: Berkshire Class A shares closed nearly 0.9% lower at $364,580 on Friday. On the same day, the company’s Class B shares closed 1.3% lower at $240.51. Apple shares closed almost 0.2% higher at $121.26 and fell 0.41% in the after-hours session. Photo courtesy: Freeimage4life via Flickr. See more from BenzingaClick here for options trades from BenzingaApple To Offer 1TB Storage Option In iPhone 13: ReportTop 10 Electric Vehicle Stocks You Should Know About© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The legislation, which just passed the U.S. House, includes several tax savers.
As Washington awaits the House of Representatives' vote on the $1.9 trillion COVID-19 relief bill on Friday, California Governor Gavin Newsom signed a coronavirus aid package worth $7.6 billion,...
Dogecoin (CRYPTO: DOGE), the joke cryptocurrency popularized by Tesla Inc (NASDAQ: TSLA) CEO Elon Musk, has received an under-the-hood upgrade. What Happened: The release of the Dogecoin Core 1.14.3 was announced on the r/dogecoin discussion board on Reddit on Sunday. The update includes “important performance improvements," and is a “strongly recommended update for everyone [running a DOGE node].” Why It Matters: Significant improvements to the speed at which a node can upload blocks will be made by removing expensive integrity checks which were previously carried out each time a block was sent to another node after the update is applied. The default time that transactions are cached in the mempool — a mechanism for storing information on unconfirmed transactions — will be reduced from 336 hours to 24 hours. See Also: In Bitcoin's Path Back To ,000, Institutional Investors, Whales Battle Miners The default setting can be modified by inputting a value in hours that makes the most sense for the use cases the node serves. Technical development in DOGE has mirrored Bitcoin (CRYPTO: BTC), according to CoinDesk. “Since March 2014, “[Dogecoin Core] has always been based on Bitcoin,” said DOGE developer Maximilian Keller, as per CoinDesk. The price increase in the meme cryptocurrency has hastened the improvements in the Shiba-Inu-themed cryptocurrency. DOGE has risen 812.56% since the year began. In the same period BTC has given 58.12% returns. Price Action: DOGE traded 0.82% higher at $ 0.049 at press time, while BTC traded 0.54% higher at $46,637.15. Read Next: Dogenomics: What's So Special About Dogecoin Anyway? See more from BenzingaClick here for options trades from BenzingaIn Bitcoin's Path Back To ,000, Institutional Investors, Whales Battle MinersWhy Cardano Is Surging Amid Bitcoin-Led Crypto Slump© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The Biden administration announced a slew of changes to the Paycheck Protection Program today, which aims to help "the smallest businesses" and women and minority-owned businesses, according to a...
Below we share with you three top-rated MassMutual mutual funds. Each has earned a Zacks Mutual Fund Rank #1 (Strong Buy) or 2 (Buy).