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Barclays CFO Anna Cross announced the bank's strategy to eliminate unprofitable customer relationships while focusing on higher-revenue businesses. At the Morgan Stanley European Financials Conference, she highlighted the rise in corporate deposits and the tough decisions being made regarding client renewals based on expected returns. Conversations with clients about their profitability are ongoing as the bank reassesses its commitments.
In March, US stock allocations experienced their largest drop ever, driven by fears of stagflation, trade wars, and diminishing US exceptionalism, according to a Bank of America survey. Global investors increased cash holdings to 4.1%, signaling a potential end to the equity correction. Meanwhile, euro zone stock allocations reached their highest level since July 2021, with banks emerging as the preferred sector among investors.
Major brokerages, including Goldman Sachs and JPMorgan, anticipate a quarter-point rate cut from the European Central Bank at its Oct. 17 meeting, driven by recent economic data indicating weakness and slowing inflation. Market expectations now reflect a 90% chance of this cut, following reductions in June and September. Euro zone inflation fell below 2% for the first time since mid-2021, while business activity contracted sharply in September, prompting policymakers to prioritize growth over price pressures.
Hedge funds managing over $5 billion now account for 73% of the industry, a significant increase from 65% in 2018, according to a Bank of America report. This growth has come at the expense of mid-sized firms, which have seen a 6% decline in their share. Investor concerns include crowded trades, inadequate downside protections, and geopolitical risks, with many planning to increase their hedge fund allocations.
Amanda Cooper
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Barclays CFO emphasizes focus on profitable client relationships and capital allocation
15:18 18.03.2025
us stock allocation sees historic drop amid stagflation and trade war fears
08:35 18.03.2025
major banks predict european central bank rate cut in october
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09:00 27.09.2024
hedge fund giants increase market share to eight year high according to report
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