JPMorgan Chase

A week after President Trump demanded a 10% cap on credit card interest rates, top executives at big banks protested the idea in blunt terms.

The 10% cap would cause a key measure of bond income — called excess spread — to drop to levels similar to those seen during the global financial crisis

The largest bank in the country bulked up its reserves by $2.2 billion for potential credit hits from the Apple card portfolio, which JPMorgan is taking over from Goldman Sachs.

The dollar, Treasuries and US equities futures slid after Chair Jerome Powell said the threat of a US criminal indictment was a consequence of a disagreement over monetary policy.

The positions in 10-year options could move closer to being in the money by the end of this week, with an array of labor-market releases ahead, culminating in Friday's government employment figures for December.

The vehicle's documents acknowledge private credit will generally make up between 10% to 35% of the fund. Its top three holdings are an agency mortgage bond and two US Treasury notes.

Previously, Kim was a managing director in J.P. Morgan Chase & Co.'s strategic investments group, where she managed a diverse portfolio of fintech investments.

With debt offices slashing sales of longer-maturity debt, the recent drop in 30-year bond yields is likely to run further.

The deal faces a few upfront credit challenges, including the fact that the collateral's credit quality has weakened.

Late-payment rates among U.S. borrowers rose again in the second quarter, according to a report from the New York Fed. The trend reflects a sharp increase in student loan delinquencies, which have been climbing as pandemic-era policies have expired.

Federal officials directed Fannie Mae and Freddie Mac to study whether digital assets held on US regulated exchanges might someday be factored into mortgage risk assessments.

Strategic financing solutions will be a collaboration between banking, markets and sales, and will initially focus on services including structured private solutions, and strategic asset-backed securities finance.

The Mission Lane Credit Card Master Trust will raise $550 million in capital from securitized bonds, secured by a pool of Visa-branded credit card accounts that Transportation Alliance Bank and WebBank originated.

The deal is the seventh prime jumbo issuance from Chase Home Lending Mortgage Trust in 2025.

This could be the second year in a row that the market for U.S. bank preferred shares has shrunk, something that hasn't happened since the lenders were replacing obsolete capital after the global financial crisis.

After passing the Federal Reserve's stress tests with high marks, large banks announced dividend increases. In some cases, they also said the Fed had conceded that certain prior calculations needed to be revised.

One atypical feature, for an auto ABS deal, is that principal on the notes will be reduced in a reverse sequential order based on realized losses.

Renewed expectations that the Federal Reserve could start cutting interest rates as soon as next month supported gains in the bond market.

In 2021, banks pledged to wind down their support for oil and gas. Last year they made a $162 billion U-turn, according to a new report from a coalition of advocacy groups.

The dollar bond would be the largest ever issued by SNB, Saudi Arabia's second-biggest bank by market capitalization.