WTI Slides After Surprise Crude Build
Oil prices gave back a lot of their early gains today as chatter about the US stimulus plan suggested its not ponies and unicorns for all after all and worries about Chinese demand weighed. WTI slipped back below $53 briefly. The U.S. “is still the biggest market in the world and it hasn’t recovered all…
BofA's Ugly Quarter: FICC Unexpectedly Slides, Bank Tries To Mask Weakness With Massive Reserve Release, Buyback
While nowhere near as ugly as Wells Fargo’s dismal results, moments ago Bank of America reported results that while beating on the bottom line, left quite a bit to be desired, mostly as a result of disappointing sales and trading results, particularly in FICC, which declined 5% “as weaker trading performance in macro products and…
HSBC Slides Amid Outrage Bank Froze Accounts Of Exiled Hong Kong Legislator
European banks were hits on monday, with the Stoxx 600 Bank Index dropping 2% on Monday, the biggest decliner on the European sector leaderboard, dragged by banking giant HSBC whose shares fell 2.1%, the biggest drag on the index, as the UK-based bank was once again swept into Hong Kong’s turmoil after a former pro-democracy…