Global bonds gripped by fresh selling, US 10-year yield hits 24-year high

Key insight: The Federal Reserve proposal would set a higher threshold for supervisors looking to cite banks for their Bank Secrecy Act/anti-money laundering deficiencies. Failures must be “significant or systemic” for an enforcement action to be taken. Expert quote: “I am concerned that the ‘significant or systemic’ standard may have unknown effects on the Board’s…

Delinquencies in Bank of Montreal’s Canadian mortgage portfolio continued to rise in the third quarter, although losses remained low and the bank reported signs of stabilization elsewhere in its consumer loan book. The share of residential mortgages at least 90 days past due reached 0.56% as of July 31, up from 0.51% in the previous…

Abry entered Prime Capital Financial in 2023. Credit: Daenin/ Shutterstock.com. Abry Partners said it is exiting its investment in Prime Capital Financial, with Carlyle Group agreeing to acquire a minority ownership interest in the independent wealth management firm. Financial terms were not disclosed. Access deeper industry intelligence Experience unmatched clarity with a single platform that…

Then LIBOR went away in 2023, a year ahead of that scheduled switch. PennyMac’s charter documents listed three fallback options for a world without LIBOR. The company reached for the third, which pays the dividend at the rate in effect for the prior period. That locked the shares at their original fixed rates.  In August…

One of the most persistent criticisms of the shift toward passive investing is that it’s somehow destabilizing markets. The story goes like this: as more money flows into index funds, stock prices become disconnected from fundamentals, and volatility rises. It’s an intuitive worry, and it’s not conjured out of thin air—prior research by Ben-David, Franzoni,…

The company entered the program in June 2009 to cover the purchase and sale of goods with its parent. The bilateral arrangement was tentatively completed in December 2015, and the full process wrapped up in October 2017. The CRA reassessed LG in November 2018 based on that arrangement. LG asked for interest and penalty relief…