United States:
Wall Street Funnels Cash to Investors on Stress-Test Success
“Morgan Stanley led big U.S. banks in raising payouts to investors — by jacking up dividends or announcing plans to buy back shares — after amassing cash piles that easily met the Federal Reserve’s capital requirements. Dividend payouts by the nation’s six largest lenders will rise, on average, by almost half — and that’s with Citigroup Inc. abstaining from an increase — according to statements issued Monday. Morgan Stanley doubled its quarterly payout while also announcing as much as $12 billion in stock buybacks.”
Europe:
ECB Charts Lone Crisis Stimulus in Choppy Wake of Shifting Fed
“European Central Bank officials are gearing up for a new phase of crisis response where their ultra-loose monetary stimulus becomes an increasingly lonely effort while the rest of the world moves on. The institution’s approaching challenge is how to keep supporting Europe’s nascent economic rebound against a backdrop of shifting policy trajectories by counterparts such as the Federal Reserve, that could augur wild swings in financial markets and potentially push up borrowing costs throughout the region.”
Asia:
Bank of Japan Cuts Some Bond Purchase Targets Over Next Quarter
“The Bank of Japan cut bond purchases for the next three months while shifting to a quarterly buying plan to offer more certainty to markets. The quarterly plan released Tuesday showed a reduction of at least 25 billion yen ($226 million) in purchases of each of the one-to-three, five-to-10 years and 10-to-25 year buckets. Previously, it had only released monthly purchase targets.”
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