Keefe Bruyette raises Axos Financial stock price target on fees

The caverns that hold the U.S. strategic oil reserves could get damaged by the rapid release of stockpiles in response to the Iran war, experts warned this week as inventories hit a four-decade low. Damage to the caverns would make it more difficult to respond to future energy emergencies, the experts said. The oil in…

Markets are pricing renewed Bank of Canada rate hikes alongside further tightening by the U.S. Federal Reserve, but TD deputy chief economist Derek Burleton says investors may be getting ahead of themselves. Derek Burleton, vice president and deputy chief economist at TD Bank “Our view is that the case for hiking is not that compelling,”…

Mortgage rates are based on bonds, but whereas bonds improved slightly from Friday’s levels, mortgage rates are microscopically higher for the average lender. The issue is timing. Mortgage lenders set rates last Friday during a time of day when bonds were at their best levels. In other words, today’s improvement is only an improvement relative…

Key insight: Working with Swift’s new blockchain gives Citi a way to extend its tokenized deposits to other banks. Expert quote: “We envisage a future where more and more banks are able to use the ledger, that then enables velocity of movement of settlements of payments at a much higher scale.” —Debopama Sen, global head…