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22.10.26 - 08:54
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Barclays profits jump ahead of looming bank tax; French bond yields hit fresh 24-year high – business live (The Guardian)
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French risk premium over German bonds widest since 2011 as oil prices climb above $111 a barrelGood morning, and welcome to our rolling coverage of business, the financial markets and the world economy.Barclays' profits jumped in the last quarter and it handed more cash to shareholders as further bank taxes looms in John Healey's budget next Wednesday.I am pleased with the ongoing momentum of Barclays' operational and financial performance.With one quarter to go before the end of our original three-year plan, we have either achieved or are on track to achieve all of our 2026 group targets. We are confident in and committed to the 2028 targets that we laid out earlier in the year.A UK bank tax risk is now a base case. If it is confirmed on 28 October, it'll be the size and timing that will be key. If Healey does go ahead, shares of Lloyds and NatWest, which are almost entirely exposed to the UK, would likely be impacted most, and you are seeing this already in the share price reaction today. Barclays i...
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22.10.26 - 05:06
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BlackRock′s Saigal on Bond Markets, Strategy (Bloomberg)
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Navin Saigal, Head of Global Fixed Income for Asia Pacific at BlackRock, discusses his outlook for Asian fixed income markets and the firm's investment strategy. He speaks with Haidi Stroud-Watts from the sidelines of the Barclays Asia Forum in Singapore. (Source: Bloomberg)...
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07.10.26 - 17:30
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Ex-Barclays traders jailed for rigging interest rates have convictions quashed (The Guardian)
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Acquittals of five former bankers come year after supreme court overturned ruling against City trader Tom HayesFive more former traders who were jailed for rigging interest rates have had their convictions quashed by the court of appeal in London, after a long battle to clear their names.The court overturned the convictions of Jay Vijay Merchant, Jonathan Mathew, Philippe Moryoussef, Alex Pabon and Colin Bermingham – all of whom worked at Barclays. Continue reading......
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02.10.26 - 17:51
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September Jobs Preview And How To Trade It: Beware A Bond Squeeze As August Seasonals Reverse (ZeroHedge)
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September Jobs Preview And How To Trade It: Beware A Bond Squeeze As August Seasonals Reverse
A month ago, our August jobs preview argued that "good news would be bad news." Then August delivered good news in volume. Payrolls rose by 162K, a 4-sigma beat and 38K above the highest estimate on Wall Street. Rate-hike odds jumped, and two weeks later Warsh hiked for the first time since July 2023.
So it's a little awkward that the Street now spends most of its September previews explaining why August didn't really happen. The main suspect is seasonal adjustments. Barclays says that if August had been adjusted with last year's seasonal factors, the "blockbuster" 162K gain would have been a 74K decline, which may very well have prevented a rate hike.
But wait, there's more: the Fed backdrop has also changed dramatically in the past week. On Monday, the market put the odds of an October hike at roughly 70%. Then Williams said there was no "urgency" and core PCE came ...
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14.09.26 - 17:36
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Barclays CEO on Bonds, AI, UK Taxing Banks (Bloomberg)
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Barclays Plc Chief Executive Officer CS Venkatakrishnan discusses why the bond market is under pressure, how the bank is using artificial intelligence and he called on the UK government to not raise taxes on banks in the next budget. He speaks to Bloomberg's Dani Burger (Source: Bloomberg)...
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