Wall Street, Zions Bank and stock market
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Wall Street is stirring from its slumber after the collapse of First Brands Group and Tricolor Holdings and fraud-linked writedowns at Zions Bancorp and Western Alliance. Investors have become more anxious about credit fragility, with more than $3 billion flowing out of high-yield bond funds and risk-on momentum trades like crypto losing steam.
The torrent of billion-dollar investment announcements related to artificial intelligence has raised fears that the economy is sitting on a bubble that, if popped, could send it into a tailspin.
There seems to be an advantage in the financial world being large, diversified, tied to the Wall Street aspect of things, whereas the private credit sector is beginning to see a few concerning situations, companies failing and rolling over into the financial sector.
Goldman Sachs, JPMorgan, Morgan Stanley, Bank of America and Citi all posted strong earnings returns — signs a dealmaking wave may be here to stay.
Wall Street ended higher on Friday as investors assessed U.S. President Donald Trump's latest remarks on China, while quarterly results from regional banks eased concerns about credit risks.
The Wall Street Journal is warning President Trump could go after more of his political enemies after former national security adviser John Bolton was indicted on Thursday. The Journal, in an editorial published on Thursday,
Zohran Mamdani was asked how he'd be mayor of Wall Street and democratic socialists. His answer was tax hikes and tackling corporate greed.
My antenna goes up when things like that happen,” Jamie Dimon said of First Brands. “When you see one cockroach, there are probably more.”