A smaller-than-expected poll victory for Prime Minister Narendra Modi is leading to worries among bond investors about greater populism. Fiscal discipline has been a hallmark of Modi’s decade-long administration, and many investors were expecting him to win a supermajority to reduce the budget deficit and further cut government borrowing in the next budget. The election … Read more
JPMorgan Chase & Co. will likely include India’s sovereign bonds on its indexes next year as investment hurdles get resolved, one of Europe’s biggest asset managers said. “According to our meeting with the index provider, India is keen on that inclusion even though it may not appear so to the outside,” Sabrina Jacobs, a senior … Read more
India has the biggest bond market among emerging economies that’s not covered by global indexes, but bankers say that may change soon, potentially drawing in billions of dollars in inflows. Russia’s recent exclusion is one reason why. Morgan Stanley expects an announcement that India will be included in JPMorgan & Chase Co.’s emerging markets bond … Read more
Bitcoin is on track for its worst quarter in more than a decade, as more hawkish central banks and a string of high-profile crypto blowups hammer sentiment. The 56% drawdown in the biggest cryptocurrency is the largest since the third quarter of 2011, when Bitcoin was still in its infancy, data compiled by Bloomberg show. … Read more
A selloff that saw US stocks sink into a bear market last week amid red-hot inflation data and a sharp Federal Reserve rate hike will likely ease in the second half, according to JPMorgan Chase & Co. “The call of peak Fed hawkishness got delayed, but it is not broken, for the second half,” strategists … Read more
JPMorgan Chase & Co has sued Tesla Inc for $162.2 million, accusing Elon Musk‘s electric car company of “flagrantly” breaching a contract the two corporate giants agreed in 2014 relating to warrants Tesla sold to the bank. Warrants give the holder the right to buy a company’s stock at a set “strike” price and date. … Read more
Jack Dorsey and Mark Zuckerberg may be making big plans in the cryptocurrency space, but Vitalik Buterin doesn’t see them as likely to gain much traction. The engineer widely recognized as the inventor of Ethereum, the world’s most-used blockchain, cast doubt on Square Inc. chief executive officer Dorsey’s plan for the company to create a … Read more
U.S. bank stocks are morphing from leaders into losers amid more signs that their searing 35% rally through this year’s first five months may have outrun the fundamentals. With two weeks left in the quarter, some investors aren’t waiting around to find out. The S&P 500 Banks Index, which rose three times more than the … Read more
By Liz Capo McCormick and Rich Miller Treasury investors fretting about when the Federal Reserve will scale back its bond purchases may be missing the bigger picture: Its more than $5 trillion stockpile will make it a major force for years to come. The prospect of a pullback in buying edged a little nearer Wednesday … Read more
NEW YORK- JPMorgan Chase & Co Chief Executive Officer Jamie Dimon will not get a raise in his annual pay and will receive $31.5 million for his work in 2020, the bank said on Thursday. Dimon’s total compensation will include the same annual base salary of $1.5 million and a performance-based incentive of $30 million, … Read more