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Bank of America Corp. strategists are advising investors to consider replacing bonds with commodities in their 60/40 portfolio strategies. Traditionally, this strategy involves allocating 60% of a portfolio to equities and 40% to fixed income. However, in the current environment of sustained high inflation, the BofA strategy team, including Jared Woodard and Michael Hartnett, suggests
BlackRock Inc. has taken the decisive step of initiating an auction for German startup SellerX, following the deterioration of a substantial loan provided to the Amazon aggregator. This move signals an increasingly aggressive approach as financial pressures mount in the e-commerce sector. The auction is scheduled for September 17 at a Berlin hotel, as announced
The U.S. Department of Labor has acknowledged a technical error that led to a delayed release of critical payroll data last week, inadvertently allowing some individuals to access the information before it was made public. The incident has prompted the Bureau of Labor Statistics (BLS) to revise its data dissemination protocols to prevent similar occurrences
Markets turned downward ahead of the eagerly awaited earnings report from Nvidia Corp., the final company among the “Magnificent Seven” megacap stocks to report this cycle. As Nvidia’s shares fell by 2% just hours before the release, investors and analysts are closely monitoring whether the AI chip leader can meet the towering expectations that have
In a strategic move to broaden their reach across Africa, Kenyan e-commerce company Wasoko and Egyptian counterpart MaxAB have merged in an all-stock transaction. This merger creates a formidable entity that will cater to over 450,000 merchants across eight African countries, significantly enhancing their market presence. The merger brings together the strengths of both companies,
As we approach the latter part of the year, investors in the US high-yield debt market may have their last significant chance to acquire newly issued junk bonds before the upcoming presidential election introduces heightened uncertainty. According to Barclays Plc, companies are projected to issue between $55 billion and $65 billion in junk bonds and
President Luiz Inacio Lula da Silva’s recent initiative to boost natural gas production and reduce its cost in Brazil is raising alarms over potential government intervention that could deter investments from major oil companies, including Petroleo Brasileiro SA (Petrobras), Equinor ASA, and Shell Plc. A decree issued on Tuesday empowers Brazil’s oil regulator, the National
Irish Prime Minister Simon Harris has made it clear that his administration will not be preparing for a referendum on uniting Ireland, despite the idea being a long-term aspiration of his Fine Gael party. In an interview with The Irish Times, Harris emphasized that his immediate focus will be on fostering cooperation between Northern Ireland
Federal Reserve Chair Jerome Powell announced that the time has come for the central bank to reduce its key interest rate, reinforcing expectations that the Fed will start lowering borrowing costs as early as next month. Speaking at the Kansas City Fed’s annual conference in Jackson Hole, Wyoming, Powell acknowledged recent progress in controlling inflation
Turkey has launched an investigation into social media posts that falsely claimed Finance Minister Mehmet Simsek had resigned, a rumor that caused a sharp decline in the Istanbul Stock Exchange. The Capital Markets Board (SPK), Turkey’s market regulator, announced the probe on Saturday, stating that the investigation targets accounts that “misled stock exchange investors and
