Investing.com -- The SEC has subpoenaed Bank of America, Citi, Goldman Sachs and JPMorgan Chase as part of an early-stage investigation into the near-collapse of Situational Awareness, the AI-focused hedge fund that saw roughly 67% of its portfolio value wiped out in July, the New York Times reported Monday, citing three people briefed on the outreach.
The subpoenas seek details on the timing of Situational Awareness’s trades and its communications with lenders about... (continue reading...)
Investing.com -- The USD/CAD The Canadian dollar fell on Monday, with the loonie weakening about 0.6% against the U.S. dollar, as investors assessed escalating trade tensions after President Donald Trump threatened higher tariffs on Canadian automobiles, parts and steel.
The loonie was trading around 72.24 U.S. cents, down about 0.4% on the day, while the U.S. dollar was around C$1.385. The Canadian currency has pulled back sharply from last week’s levels after reaching... (continue reading...)
By David Lawder and Dan Burns
WASHINGTON, Aug 24 (Reuters) - The U.S. Treasury will continue with its regularly scheduled debt auctions, including for long-dated bonds, despite its move to increase buyback sizes of 10- to 30-year securities, Treasury Secretary Scott Bessent said on Monday.
Asked at a news conference focused on Iran sanctions about Treasury's plans for bond buybacks and auction sizes going forward, Bessent said the... (continue reading...)
Investing.com -- Citi remains neutral on European equities in its global equity allocation, even as the region's stocks have outperformed global peers in recent months.
The Euro Stoxx 50 gained 8% over three months, surpassing the S&P 500's 5% advance. Within MSCI Europe, cyclical sectors outperformed defensive stocks, with financials and health care joining technology and industrials in posting gains.
Citi identified three factors supporting European equity performance.... (continue reading...)
Investing.com -- Citi has maintained its buy ratings on two Argentine power generation companies, setting a price target of $121 per ADR for Pampa Energia (NYSE: PAM) and $22 per ADR for Central Puerto (NYSE: CEPU), both with high-risk ratings.
The firm projects Pampa Energia's 2026 EBITDA at approximately $1.6 billion, representing a 55% year-over-year increase. The growth is expected to come from RDA's production ramp-up, which reached 22,000 barrels per day in May and... (continue reading...)
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