By Nell Mackenzie LONDON (Reuters) – Hedge funds ended last week positioned to scoop up winning profits from bearish positions on bank stock falls, according to a note by Goldman Sachs sent to clients late on Sunday. They sold financially themed shares and banks for nine straight weeks but rather than only exiting long positions,…
LONDON (Reuters) – British investors on Wednesday fully priced in a 0.25 percentage point increase in Bank of England interest rates at its March meeting, after the U.S. Federal Reserve signalled that it could push its rates higher. A day earlier, the overnight index swap market had shown a roughly 90% chance that the BoE…
By Naomi Rovnick LONDON (Reuters) -Stock market investors are calling time on the idea that the Federal Reserve, and other major central banks, have their back. Hopes for interest rate cuts by year-end have evaporated, given resilient data and sticky inflation, suggesting central banks will instead be inclined to keep borrowing costs around their highest…
By Nell Mackenzie LONDON (Reuters) – Trend following hedge funds that outperformed rivals in 2022 will likely underperform this year, according to investors surveyed by BNP Paribas in a report published this week. The global survey of 185 investors in December and January also showed the investor community was undecided on putting money in hedge…
By Joice Alves LONDON (Reuters) – Europe’s banks, which enjoyed a stellar fourth-quarter that yielded a surge in earnings growth to 15-year highs, are still looking cheap and could have more room to rally. Economic data hasn’t been as bad as many had feared. The euro zone is expected to stagnate rather than contract, while…
By Lawrence White, Iain Withers and Sinead Cruise LONDON (Reuters) – British banks face a tougher battle for mortgage customers and business borrowers in 2023, as rising costs and deposit rates paid to long-suffering savers threaten to outpace flatlining profit margins, senior industry executives and analysts said. The 2022 annual results from the country’s four…
By Huw Jones LONDON (Reuters) -Britain on Tuesday set out draft legislation to regulate “buy now pay later” (BNPL) credit, saying the sector posed potential harm to consumers without thorough affordability checks. BNPL companies are largely unregulated and typically offer on-the-spot interest-free short-term loans that spread payments for retail goods like clothing. The sector nearly…
By Marc Jones LONDON (Reuters) – Cryptomarkets have not been killed off by last year’s turmoil, while the new wave of central bank digital currencies will face geopolitical limits, the Bank for International Settlements’ new innovation head has predicted. Dubbed the central bank to the world’s central bank, the BIS has long been critical of…
By Stefania Spezzati and Nell Mackenzie LONDON (Reuters) – Eisler Capital has recruited Damien Bombelli, whose background in commodities could help the hedge fund bolster a less profitable part of its business, according to one source with knowledge of the move and a regulator filing. Bombelli, who has worked at investment firms and banks including…
(Reuters) – Global equity funds secured weekly inflows for a second straight week in the week to Jan. 18 on hopes over waning inflationary risks and more measured rate hikes from the Federal Reserve, though recent data showed a drop in consumer spending. Refinitiv Lipper data showed global equity funds obtained $5.24 billion worth of…