Bottom line: Wells Fargo’s third quarter profit jumped 9%, eclipsing analysts’ expectations by a wide margin. Expert quote: “Wages have kept up with inflation for many folks, and we continue to see unemployment be quite low historically,” Chief Financial Officer Mike Santomassimo said. Forward look: Wells Fargo increased its target for return on tangible common […]
Wells Fargo’s earnings aided by consumers, capital markets Read More »
Key insight: Citi is turning a corner on profitability, CEO Jane Fraser said. Forward look: The company plans to disclose future profitability metrics in May. Expert quote: “The best part is, there is much more upside ahead,” Fraser said. UPDATE: This article includes comments made during Citigroup’s earnings call as well as commentary from a
Citi’s makeover shows results, with more upside ahead: CEO Read More »
Mortgage-related securities could experience performance issues as the White House moves to furlough and potentially cut some staff amid a congressional budget impasse, an analysis by Kroll Bond Rating Agency shows. KBRA’s assessment of Congressional Budget Office, Federal Reserve Bank of St. Louis, private-label securities and credit-risk transfer data finds concentrations exist most notably in
Mortgage risks tied to federal furloughs flagged by KBRA Read More »