Trump Ask Bank To Cap 10% Interest rates on Credit Card for a Year
Trump Said “I am asking Congress to cap credit card interest rates at 10% for one year,” A major obstacle to saving for a down payment is rising credit card debt. Credit card businesses have one of the highest profit margins at over 50%.” Credit cards offer large returns for banks, who charge high rates…
US Bank Stocks Slipped as Credit Card Rate Cap Touch 10%
U.S. bank stocks dipped on Tuesday on market uncertainty over the Trump administration’s deadline to cap credit card interest rates at 10%. The administration claims the proposed cap will increase affordability for consumers, while banks fear it may reduce credit availability due to inability to price the risk of unsecured credit card loans. JPMorgan Chase…
Japan 30-Years Yield Bond Reach ATH
Major bond markets were rattled by Japan’s borrowing costs rising to record highs on Tuesday as Greenland tensions raised concerns about fiscal spending and debt.As investors prepare for higher government expenditure, 10-year Japanese government bond yields rose roughly 19 basis points (bps) in two days, the largest spike since 2022, while 30-year yields rose the…
China met 2025 GDP Target
China’s economy grew 5.0% last year, meeting the government’s aim by capturing a record percentage of global goods demand to offset poor domestic consumption, a strategy that mitigated U.S. tariffs but is becoming harder to sustain. Since its property sector crash in 2021, Beijing has prioritized the industrial complex over consumers to reach ambitious development…
Nvidia H200 has been banned by China Customs
Nvidia parts suppliers H200 manufacture has halted after Chinese customs officials barred shipments of newly certified AI processors. The report said Nvidia expected more than 1 million Chinese orders and that its suppliers had been working 24/7 to prepare for delivering as early as March. According to sources, government authorities summoned domestic tech firms to…
Canada Allows Import of 49,000 EVs From China
Trump administration officials said Friday that Canada would regret allowing China to import up to 49,000 Chinese EVs and ban them from the US. “I think they’ll look back at this decision and surely regret it to bring Chinese cars into their market,” U.S. Transportation Secretary Sean Duffy said at a Ford plant event in…
Loan Growth Boost US Banking Profits
Increased demand from borrowers in the fourth quarter bolstered U.S. banking companies’ profits, indicating a strong economy and promising future revenues. On Wednesday, Bank of America (BAC.N) announced an 8% increase in average loans and a record $15.9 billion in net interest income, the difference between loan earnings and deposit payments. Average loans rose 9%…
Banks Stock Drop Despite Energy And Oil Soar High
U.S. stocks fell on Wednesday, led by the Nasdaq, with technology shares falling as investors shifted to defensive positions and bank stocks extending losses after mixed quarterly results. After missing fourth-quarter profit projections, Wells Fargo (WFC.N) shares fell 4.6%, as did the S&P 500 bank index (.SPXBK). Even though Citigroup (C.N) and Bank of America…