The 10-year U.S. Treasury note that debuted in August 2016 when the bond market was near its peak has had a rough ride, its price falling ever since and no reprieve in sight. Welcome to the new U.S. Treasury market, where 75 percent of existing government bonds are now trading below par. Despite high demand […]
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The UK’s Brexit secretary just walked away from the job. Here’s what that means
The resignation of a key driver of the U.K.’s Brexit process is a blow for British Prime Minister Theresa May, but analysts believe she can survive the departure. Brexit Secretary David Davis resigned Sunday evening, objecting to May’s withdrawal plan that seeks to maintain close economic ties with the European Union (EU), rather than a […]
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SocGen chairman calls on regulators to help strengthen Europe’s banks
The chairman of Societe Generale said Europe‘s banking space should follow in the footsteps of the U.S.’s, calling on regulators to facilitate more consolidation in the region. Speaking to CNBC over the weekend, Lorenzo Bini Smaghi said that European banks need to become more concentrated, so they can compete with American lenders. “In general if […]
Read moreChinese internet giant Tencent said it plans to spin off its streaming music service on a U.S. stock exchange. In a statement issued on Sunday through the Hong Kong stock exchange, Tencent said the terms of the proposed spin-off, including offering size, price range and other details have not been finalized. The company added that […]
Read moreEuropean equities are expected to start the trading day higher as investors monitor developments on trade and react to news that the U.K.’s chief Brexit negotiator has resigned from his post. The FTSE 100 is seen up by 48 points at 7,653; the DAX is set to open higher by 64 points at 12,552; and […]
Read moreShares of Chinese smartphone maker Xiaomi opened for trade down more than 2 percent on their debut in Hong Kong on Monday, following a disappointing pricing and a listing delay in mainland China. Xiaomi shares opened down at 16.60 Hong Kong dollars ($2.12) a share, according to Dow Jones, below the initial public offering price […]
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