February 18, 2020 Weekly Report

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Highlight of the Week

Bloomberg qualifies for Nevada Debate

  • Former NYC Mayor Michael Bloomberg hit 19% nationally in a poll released Tuesday morning.
  • Bloomberg had not qualified for earlier debates because he was not accepting campaign donations, the billionaire will sponsor himself.

Rate Curves

July2 2019 Rate Curves

Rapid Report:

Abelian Brand Mark

Europe’s largest bank reports downfall

  • HSBC reported a 33% fall in 2019 pre-tax profit related to investment banking and commercial banking woes.”
  • The bank has announced a major overhaul that will see a staff reduction of 35,000 over the next three years as it scales back operations in the US, Europe, and its investment bank. The bank plans to cut $100 billion in assets overall.
  • The London-headquartered bank has been heavily impacted by the coronavirus outbreak. The bank derives the bulk of its earnings from business in Asia.

Coronavirus fears persist

  • 10-year and 30-year Treasury notes, which move inversely to price, both shifted lower on Tuesday morning.
  • On Monday, Apple warned it does not expect to meet its quarterly revenue forecast because of slow production and a weakened demand related to the coronavirus outbreak.

Bezos makes generous climate change donation

Amazon’s Jeff Bezos has pledged $10 billion to fight the planet’s ‘biggest threat’.

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