Wall Street’s average bonus fell 26% last year, the biggest percentage drop since the financial crisis, as a trading slump slashed bankers’ pay. Financial employees received average bonus checks of $176,000 last year, up from a record high of $240,000 a year earlier, the New York state comptroller’s office said in a report Thursday. The … Read more
Regional banks shouldn’t be the only cause for concern over the potential fallout from the rapid pace of Federal Reserve interest rate hikes over the past year, a former top banking regulator said. “I don’t see regional banks as having a particular problem,” said Sheila Bair, who ran the Federal Deposit Insurance Corp. from 2006 … Read more
Good morning! Welcome to Distributed Ledger. Meet Frances Yue, crypto reporter at MarketWatch. Coinbase crypto exchange PIECE OF MONEY said Wednesday that he received a Wells notice from the Securities and Exchange Commission, which could lead to formal charges. The SEC’s Wells notice related to an unspecified portion of the exchange’s listed digital assets, its … Read more
A tumultuous week in U.S. financial markets ended on an uncertain note on Friday after a massive injection of $30 billion in deposits from major banks into First Republic Bank failed to calm investors. Last week, the sudden collapse of three US banks – Silvergate Capital, Signature Bank SBNY and Silicon Valley Bank – began … Read more
Bitcoin is off to its best three-day performance since October 2019 as the collapse of three US banks in one week fueled hopes among some investors that the Federal Reserve may need to take a less aggressive approach with its rate hikes of interest. The biggest cryptocurrency BTCUSD Tuesday hit its highest level since June … Read more
After a frantic weekend of regulators to the rescue that sparked a rally for US stock futures on Sunday night, the mood turned more cautious, with the exception of tech futures still celebrating. Is that many banks are in the red before the opening on Monday. Nervous investors may be wary of more shoes dropping … Read more
Posted: March 10, 2023 1:34 PM ET Bitcoin saw its losses deepen on Friday, falling below $20,000 for the first time since January, as investors fret over contagion from Silicon Valley Bank, which was shuttered by regulators and taken over by the Federal Deposit Insurance Corp. days after crypto-friendly Silvergate Bank said it would cease … Read more
U.S. stocks oscillated between small gains and losses on Wednesday as investors analyzed a second day of congressional testimony from Federal Reserve Chairman Jerome Powell and other data suggesting the labor market remains hot. The S&P 500 climbed 5.64 points, or 0.1%, to 3992.01, while the Nasdaq Composite rose 45.67 points, or 0.4%, to 11576.00. … Read more
On the heels of last week’s rally on the losing streak, investors appear to be headed for the sidelines on Monday. Along with China’s disappointing growth forecast over the weekend that is driving oil prices down, we have a sparse but meaty lineup for the week that includes remarks from Fed Chairman Jerome Powell and … Read more
There will be no rest for investors this week as they await a landmark report on the state of the US labor market, as well as semi-annual congressional testimony from Federal Reserve Chairman Jerome Powell. To complicate matters further, investors will also be watching the reaction of equities to more attractive risk-free yields in the … Read more
