The eurozone’s repo and money markets are becoming more dysfunctional and threaten the European Central Bank’s ability to push its monetary policies, an influential trade group has warned. The International Capital Market Association, which represents the bond market’s biggest traders, said it had become concerned about the functioning of Europe’s €10tn repo markets because of … Read more
William_Potter Provident Bancorp (NASDAQ:PVBC) stock has dropped 3.5% in Tuesday after-hours trading after the bank said it’s likely to post a loss for the quarter ended Sept. 30 due to the writedown of collateral it repossessed from a crypto mining company. As of Sept. 30, the company entered an agreement under which it repossessed cryptocurrency … Read more
British Gas owner Centrica is in talks with banks to secure billions of pounds in extra credit to meet ballooning collateral demands as a result of extreme volatility in energy markets. People familiar with the talks described the FTSE 100 company’s request for additional short-term financing as “pre-emptive” in case the situation deteriorates. The move … Read more
Renowned economist Mohamed El-Erian believes inflation will come down by the end of the year but “will be sticky.” “I’m looking for a core CPI in the 4.5% to 5.5% range, so well above the 2% target of the Fed,” the chief economic adviser of Allianz said on Influencers with Andy Serwer (video above). The … Read more