Commodities Extend Decline to Lowest Since '09 on China Slowdown
Commodities fell to the lowest level in more than five years on signs demand growth is weakening in China, the biggest consumer of energy and metals, and on speculation U.S. borrowing costs may rise next year.
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Treasuries are the world’s worst- performing bonds this quarter amid concern investors are underestimating risk the Federal Reserve will raise borrowing costs next year. more »
Credit Suisse Group added private banking to its operations in Toronto as the lender seeks to win business from Canada’s wealthiest individuals. more »
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Royal Bank of Canada, the first Canadian lender to report third-quarter results, said profit rose 4% to a record, led by investment banking, and boosted its dividend by almost 6%. more »
Emerging-market stocks headed for the biggest weekly jump since March on speculation China will take steps to support the economy and as Russia pledged to de- escalate the conflict in Ukraine. Malaysia’s ringgit rose. more »
The 1% is literally rich beyond measure, depriving nations of billions in tax revenue and obscuring shifts in global inequality. more »
UBS is facing more than $600 million in damage claims filed by Puerto Rico investors in closed-end bond funds, the bank said in its second quarter earnings report Tuesday. more »
Julius Baer Group, Switzerland’s third-largest wealth manager, said its affluent Russian clients were less active in the first half of the year amid political tensions in the region. more »
Treasuries fell for the first time in three days, with benchmark 10-year yields rising from a seven-week low, as haven demand ebbed a day after a Malaysian airliner was shot down over Ukraine. more »
Puerto Rico Gov. Alejandro Garcia Padilla came out swinging with a defense of his economic and fiscal programs after Moody's Investors Service lowered the island's credit ratings farther into junk territory. more »
Barclays was so bent on lifting its private trading venue to the upper ranks of Wall Street dark pools that it lied to customers and masked the role of high- frequency traders, according to New York’s attorney general. more »
Most of the world’s economic growth will come from outside the U.S, yet most American investors are still under-diversified in international assets. more »
With Europe still slowly muddling its way to recovery, investors looking for returns in developed nations should give Japan a second look, argue two experts. more »
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