The U.K. pound traded sharply lower against the U.S. dollar Tuesday after a key reading of activity in the country's services sector, the largest portion of the British economy, slowed to the lowest level in nearly three years last month amid the uncertainty surrounding Britain's exit from the European Union.
Bill Gross, one of the best known fixed income investors in the world, will retire from Janus Henderson to focus on managing his charitable foundation, the firm said Monday.
The Federal Reserve's recent rate hike retreat could face an early test Friday if job gains and wage growth, coupled with renewed progress in U.S.-China trade talks, ignites concerns of faster inflation in the world's biggest economy.
The Federal Reserve made no changes to U.S. benchmark interest rates, now in a range between 2.25% and 2.5%, as monetary policy officials met this week for the first time in 2019.
This is one report where the real driver will be what the company says and the tone they take when saying it.
Even after an abysmal 2018, 16 big U.S. money managers could see earnings per share in 2019 fall another 5% on average, Jefferies estimates.
There is strong precedent for aggressive rate cuts once the Fed gets started.
Bank of America economists estimate that the 35-day-old partial U.S. government shutdown will shave 0.2 percentage points off first-quarter growth in gross domestic product.
Some Wall Street analysts are starting to warn that big banks like JPMorgan Chase might have to start paying higher rates on deposits to keep customers from defecting to smaller banks with better offers, or to online-only lenders that don't have to cover the costs of maintaining hundreds or thousands of branches.