Economy Is Limping, but Revenue Is Soaring at Wall Street's Banks

Investment-banking and trading revenues hit an eight-year high in the first half, a counterintuitive boom that shows the heavy hand of the Federal Reserve and the gulf between financial markets and the real economy. 


 
Oversupply of Easy Money Sends European Borrowing Rates to Record Low

The interest rate that European banks use to lend among themselves plumbed new depths this week in a sign of how credit markets have been distorted by central banks' aggressive measures this year. 


 
Monte Dei Paschi Gets ECB Bad Loan Plan Backing

Monte dei Paschi di Siena said the ECB has approved its plan to shed bad loans worth billions of euros, under the condition the state-owned bank strengthens its capital buffers. 


 
Emerging-Market Bond Funds Face Reckoning

The Covid-19 pandemic is a reminder that assets designed to produce higher returns in good times can post outsize losses when things go wrong. 


 
Is Rocket a Tech Stock or Boring Lender?

Investors seem confused about how exactly to value the tech-enabled mortgage lender, leading to a volatile stock price. 


 
Insight Partners Moves Quickly to Address Pandemic Shifts

Insight Partners has seen its share of market downturns since the software-focused firm was formed in 1995. So when the coronavirus pandemic started to spread, the New York firm moved quickly and aggressively to position its portfolio, a lesson it had learned in past crises. 


 
Financial Services Roundup: Market Talk

The latest Market Talks covering Financial Services 


 
Fed's Daly Says More Fiscal Support Important for Recovery

Federal Reserve Bank of San Francisco President Mary Daly said Wednesday that reduced government support efforts will slow the economic recovery if they aren't restored. 


 
Ernst & Young Loses Two German Clients Amid Wirecard Scandal

Commerzbank and DWS chose to drop the accounting firm's German affiliate. Both would face conflicts of interest if they decided to sue EY for any role it played in auditing Wirecard, while also being audited by it. 


 
Robinhood Faces SEC Probe for Not Disclosing Deals With High-Speed Traders

The company faces a civil fraud investigation over its early failure to fully disclose its practice of selling clients' orders to high-speed trading firms, people familiar with the matter said.