MARKETS
Central Banks Hold Rates, But Disagree On Where Things Are Going
The Bank of England (BOE), the European Central Bank (ECB) and the US Federal Reserve held interest rates in the past week. While the Fed indicated they see possible rate cuts coming in 2024, both the BOE and ECB feel rates will continue to hold steady in the new year.
BANKING
Citigroup Shuts Down Muni Business
Once the envy of other banks, Citigroup is shutting down its municipal business due to finding it no longer a viable business. As the embattled banking giant continues to pivot to turn around its performance.
WEALTH MANAGEMENT
Credit Suisse Gives Up on China Wealth Management
Credit Suisse is giving up on its wealth management business in China as UBS has also decided not to retain its staff. Thus ends the goal of being one of the biggest wealth managers in China.
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