trending Market Intelligence /marketintelligence/en/news-insights/trending/UovNqDhdox4rFinMMnjsbg2 content esgSubNav
In This List

Wisconsin banks to merge; Trump tweets impact perceptions for Fed policy

Blog

Using ESG Analysis to Support a Sustainable Future

Podcast

Street Talk Episode 87

Blog

A New Dawn for European Bank M&A Top 5 Trends

Blog

Insight Weekly: US banks' loan growth; record share buybacks; utility M&A outlook


Wisconsin banks to merge; Trump tweets impact perceptions for Fed policy

Wisconsin-based Oregon Community Bank and McFarland State Bank agreed to merge. The merger, which is expected to take place in the first quarter of 2020, will create a community bank with more than $1.1 billion in assets.

Montebello, N.Y.-based Sterling National Bank, a unit of Sterling Bancorp, agreed to acquire a portfolio of middle-market commercial equipment finance loans and leases from Santander Bank NA.

Bi-County PTC FCU members approved the merger of the Warren, Mich.-based credit union into Battle Creek, Mich.-based BlueOx CU. The merger is anticipated to close Jan. 1, 2020.

The current stretch of low inflation is, by itself, not a reason to ease monetary policy, Kansas City Federal Reserve President Esther George said Oct. 6, according to Reuters. Speaking during an appearance in Denver, George said that deviations of as much as 100 basis points from the Fed's long-run target should be tolerated, "depending on broader economic conditions."

An analysis from Goldman Sachs Group Inc. indicates that President Donald Trump's trade-related tweets, at times, have considerable effects on the market's expectations for the Federal Reserve's policy, while his tweets criticizing the central bank have had little impact, Bloomberg News reports. Banking giant JPMorgan Chase & Co. last month also launched the "Volfefe Index," which aims to track how Trump's tweets impact markets.

The American Bankers Association's Consumer Credit Delinquency Bulletin shows that consumer credit delinquencies were mixed in the second quarter, with delinquencies falling for bank cards and rising for the composite index of closed-end loans.

In other parts of the world

Asia-Pacific: South Korea to audit Shinhan Financial; Deutsche Bank reshuffles India team

Europe: HKEX drops LSE bid; Wirecard ups targets; ECB warns on bank liquidity

Middle East & Africa: Egypt mulls slashing bourse fees; Lebanon seeks UAE backing; Uganda trims rate

Now featured on S&P Global Market Intelligence

Piper Jaffray, Sandler O'Neill facing some equity research overlap: While Piper Jaffray's equity research coverage will expand when its pending acquisition of Sandler O'Neill & Partners closes in January 2020, combining the platforms will create some overlap in a business facing industrywide headwinds.

Pennsylvania's 3 largest community banks gear up for growth via bank M&A: Pennsylvania's community banks lagged the rest of the U.S. in multiple metrics during the second quarter, but the state's banks were able to grow deposits at a faster pace.

For large credit unions, 'no good way' to offset costs of $10B asset threshold: Despite outpacing the banking industry in asset growth, credit unions rarely cross the critical $10 billion in assets threshold. Only 10 of the 5,410 credit unions nationwide are above that mark.

The day ahead

Early morning futures indicators pointed to a lower opening for the U.S. market.

In Asia, the Hang Seng rose 0.28% to 25,893.40, and the Nikkei 225 lifted 0.99% to 21,587.78.

In Europe, around midday, the FTSE 100 fell 0.31% to 7,175.52, and the Euronext 100 was down 0.96% to 1,062.34.

On the macro front

The Producer Price Index - Final Demand and the Redbook Index for retail sales are due out today.

Click here to read about today's financial markets, setting out the factors driving stocks, bonds and currencies around the world ahead of the New York open.

The Daily Dose has an editorial deadline of 7:30 a.m. ET. Some external links may require a subscription. Links are current as of publication time, and we are not responsible if those links are unavailable later.