The Swiss National Bank (SNB) raised its interest rates by 50 basis points despite the turmoil over the Credit Suisse collapse. The SNB made the announcement on March 23, bringing its borrowing rate to 1.5 percent, for its fourth consecutive hike, which was is in line with analysts’ predictions Swiss interests rates were negative 75 percent…
Swiss Central Bank Hikes Interest Rates Despite Credit Suisse Turmoil
March 23, 2023
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Will ChatGPT Impact Finance?
March 23, 2023
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Artificial intelligence (AI) isn’t new, but it is evolving. The latest ChatGPT, or Chat-generated pre-trained transformer, is the newest AI to hit the headlines. Its developers claim it has numerous applications in everyday life. One such application is finance. Specifically, it could possibly be used for portfolio-allocation suggestions. But what are the strengths and limitations…
California Bill Would Boost Investment in the State
March 22, 2023
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Commentary The key to economic growth is investment in new businesses and jobs. But all investments are risks. You might make a lot of money—or lose it all. The way to boost investments is to reduce risks. One way to do so is to cut taxes to boost profits. That’s the idea behind Assembly Bill…
Senate Committee on Banking to Hold Hearings on SVB Collapse: ‘Hold Those Responsible Accountable’
March 22, 2023
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The Senate Committee on Banking, Housing and Urban Affairs said it would hold hearings next week on the collapse of Silicon Valley Bank (SVB) and Signature Bank earlier this month. Senate Banking Committee chairman Sherrod Brown (D-Ohio) announced on March 21 the first of several hearings on the latest banking crisis and promised to hold those responsible…
Banking Turmoil Pounding Investor Confidence, Surveys Show
March 22, 2023
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LONDON—This month’s U.S. banking system turmoil and renewed recession worries have left global investor confidence at one of the lowest levels in the last 20 years, and that does not even account for this week’s demise of Credit Suisse. A monthly survey carried out by investment bank BofA following the collapses of Silicon Valley Bank…
Bank Failures Highlight Risks of Using ESG in Americans’ Pension Funds
March 22, 2023
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President Joe Biden used his veto power on Monday to block a bipartisan action from Congress that would have prevented pension fund managers from investing retirees’ money according to environmental and social-justice criteria. “There is extensive evidence showing that environmental, social, and governance factors can have a material impact on markets, industries, and businesses,” Biden…
Troubled Credit Suisse Has Chinese Communist Party-Linked Member on Its Risk Committee
March 22, 2023
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Credit Suisse bank, which collapsed last week, revealed on its website that it had a CCP-affiliated member on its board of directors. Shan Li, according to the bank’s website, is a board member with long extensive ties to the Chinese Communist Party (CCP), with senior roles on the bank’s risk management team, Asia advisory council, and…
Systemic Credit Crunch Replaces Inflation as Fund Managers’ Top Worry
March 22, 2023
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A systemic credit crunch has overtaken inflation as fund managers’ top fear this month as the biggest risk to the markets, according to a new poll. At least 31 percent of respondents labeled a systemic credit crisis as the most significant threat to markets, followed by 25 percent choosing stubbornly high inflation as the largest…
‘Stay Defensive’: Chief Investment Officer on How to Position Your Portfolio
March 21, 2023
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All eyes are on the Federal Reserve ahead of their closely-watched interest rate decision on March 22. Fed Chair Jerome Powell and company will have to balance fears of more damage to the banking sector with their original mission—to defeat inflation. Markets have priced in an overwhelming likelihood of a 25 basis-point rate hike. How…
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Should You Be Bullish on Gold?
During current market volatility, what is a good place to park your money? An investor tells us that gold futures have a lot of upside potential. Brien Lundin, editor of Gold Newsletter and CEO of the New Orleans Investment Conference, says that gold both preserves value and can earn a profit. His outlook is positive for…