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The indicator with an almost perfect record of predicting US recessions is edging towards a tipping point. The spread between 2-year and 10-year Treasury yields has tightened to 45 basis points, its flattest since late 2007.
London - Crown - World - Center - London
London reclaims the crown as the world's leading financial center. London topped New York as the world's leading financial center, according to Duff & Phelps' Global Regulatory Outlook report. The majority of those surveyed think London will lose the title by 2023.
The CEO of Barclays is being fined for trying to unmask an anonymous whistleblower. Barclays CEO Jes Staley has been ordered to pay an undisclosed fine for his attempts to try and identify an internal bank whistleblower back in 2016.
Wells - Fargo - Settlement - Loan - Abuses
Wells Fargo nears a $1 billion settlement for loan abuses. The US Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency reportedly proposed Wells Fargo to pay a $1 billion penalty to resolve probes into auto insurance and mortgage lending abuses, Reuters says.
JPMorgan is testing issuing...
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