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“Nobody Knows Anything,” Wall Street Strategist Edition

Barry Ritholtz

As the Federal Reserve shifted to cutting interest rates, Treasuries were seen as ripe to give equities a run for their money.” I promise you will find it both entertaining and informative. So as strategists at Bank of America Corp., Deutsche Bank AG, Goldman Sachs Group Inc.,

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GW Platt Foreign Exchange Bank Awards 2025: FX Tech Global Winners

Global Finance

GTreasurys FX solution achieves this by giving treasury teams the power to consolidate exposure data, automate risk assessments, and execute effective hedging strategies, all from one cohesive interface. FIS Global , which wins for Best FX Regtech Tool, developed Investment Risk Manager.

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Transcript: Velina Peneva, Swiss Re Chief Investment Officer

The Big Picture

So that, 00:39:33 [Speaker Changed] Well, 2022 was pretty much a down 15% year for treasuries and down 20 plus for equities. 00:47:22 [Speaker Changed] And, and isn’t the same true in sovereign treasuries, not just the us but there really isn’t a lot of sovereign paper, at least a rated paper around. Fair, fair insight.

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Transcript: Steve Laipply, Global Co-Head of Bond ETFs at BlackRock

The Big Picture

I was trying to buy treasuries and I was very frustrated by the commissions I was getting charged on that. So for sure, February, March, 2020, you know, even treasuries, high quality investment grade, you know, the whole thing e everything was seeing dislocation, right? You can’t get 15% today, 7% treasuries. 25 years ago.

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Transcript: Lisa Shalett, CIO Morgan Stanley

Barry Ritholtz

When there are no term premiums in the, in the United States Treasury curve, it’s telling you the same thing. Or on the treadmill or just to keep you entertained. When credit spreads are tight, it tells you people are not requiring a premium for fear or default or uncertainty, right? What are you watching?

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Transcript: Richard Bernstein, CEO / CIO of RBA

The Big Picture

And what I’m talking about is, if you look at the spread between treasuries and AAA rated sovereign debt through time, what you will find is when the United States was rated aaa, our guilds were roughly in line with other AAA rated sovereign debt since the initial downgrade in 2011. What’s keeping you entertained these days?

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Transcript: Stephanie Kelton on US Fiscal Policy and the ‘Deficit Myth’

Barry Ritholtz

You got a lot of treasuries or a lot of jbs, you got a high debt to GDP ratio and high interest rates, you can very easily get into a situation where the rate hikes themselves are generating enough additional interest income that it itself can become a source of inflationary pressure. And you can do that at very high interest rates.