BlackRock Profits Rise 20% Despite Lower AUM With Lower Investor Confidence in Markets

BlackRock the world’s largest investment management company kicked off first quarter earnings on Tuesday with the largest money center bank JP Morgan. $BLK reported net income of $1.4 billion, or $9.35 a share, for the first quarter, up 20% from $1.2 billion in the same period a year earlier. The bearishness in the markets lowered the firm’s assets under management to $9.6 trillion. BlackRock Q1 2022 Q1 2022 earnings before the bell; conference call at 8:30 a.m. ET Tuesday Net … Continue reading “BlackRock Profits Rise 20% Despite Lower AUM With Lower Investor Confidence in Markets”

Brainard Warns Fed Prepared to Take Stronger Action on Inflation if Needed

Federal Reserve Governor Lael Brainard pulled the rug out from under the markets on Tuesday when she said, “Inflation is much too high and subject to upside risks and The Fed is prepared to take stronger action if inflation and inflation expectations suggest the need.” Nothing new but remember algorithms have no FOMO emotion while the bond market had a mini taper tantrum. Highlights from Brainard Speech Combined impact of rate hikes and balance sheet reduction will bring policy to a … Continue reading “Brainard Warns Fed Prepared to Take Stronger Action on Inflation if Needed”

BlackRock Assets Under Management Over $10 Trillion as Earnings Rise 20% to $5.90 Billion For 2021

BlackRock (NYSE: BLK), the world’s largest investment management company kicked off fourth quarter earnings with the major money center banks. Q4 earnings rose 6% to $10.63 a share from $10.02 a share year earlier. Revenues rose 14% to $5.106 billion versus $4.5 billion. Net inflows rose to $211.7 billion, up from $126.9 billion the prior year. JPMorgan Chase (NYSE: JPM), Citigroup (NYSE:C) and Wells Fargo (NYSE: WFC) are also reporting on Friday. Investors look for insights into BLK, the market … Continue reading “BlackRock Assets Under Management Over $10 Trillion as Earnings Rise 20% to $5.90 Billion For 2021”

Australian Major Banks Have $15b to $28b Excess Capital says Morgan Stanley

Beginning with CBA earnings results in August, Australia’s major banks are poised to launch $15 to $28 billion worth of share buybacks during the 2022 financial year according to Morgan Stanley analysts. MS expects a $3.5 billion buyback from Westpac, $4 billion buyback from NAB, and $2.5 billion from ANZ Bank.

Fed Researching and Engaging in Digital Version of U.S. Dollar – Brainard

Federal Reserve Governor Lael Brainard said on Monday “The Federal Reserve is stepping up its research and public engagement on a digital version of the U.S. dollar.” Fed Chair Jerome Powell said last week the Fed will release a paper looking at how CBDCs could affect payments.

Aggressive Morgan Stanley Completes Acquisition of E*TRADE And Buys Eaton Vance

Morgan Stanley continues in its aim to become the leading wealth and investment ervices firm with another aggressive aquistion. $MS announced an intention to buy Eaton Vance $EV for $7 billion. This follows the bank completing its $13 bln acquisition of E*TRADE $ETFC.

Evaluate Economic Progress With The Inclusive Development Index

What is clear in 2019 politcy makers responses have misjudged the global economy. The Inclusive Development Index (IDI)reflects more closely the criteria by which people evaluate their countries’ economic progress and is designed as an alternative GDP measures.

Outstanding Foreign Bank Loans To China Rise 25% to $750 Billion

Chinese foreign debt has soared after contracting in 2015 and 2106 we have seen a third consecutive quarterly increase by Q2 2017  in lending to China the BIS reports. The annual growth rate is now a brisk 25% The banking systems with the largest claims are United Kingdom, United States, Japan, Chinese Taipei and France.