Commercial banking

Michael Bruch serves as Global Head of Risk Consulting Advisory Services at Allianz Commercial and can be reached at michael.bruch@allianz.com.

Yields moved in tandem — rising sharply in the immediate aftermath of the employment data before going on to swoon as investors used the rise in yields to snap up Treasuries.

The appointment of Lynne Biggio Herndon as chief credit officer marks the final step in the Phoenix-based bank's leadership reorganization.

Low refinance volume creates a "relative disadvantage" for Rocket, which historically had a much larger share of that market versus purchase, a note by Bose George, analyst at Keefe, Bruyette & Woods, said.

Treasuries dipped across the curve as investors re-calibrated Federal Reserve rate cut forecasts on strong jobs data. The 10-year yield hit 4% after data showed U.S. companies ramped up hiring in December.

Alberto Musalem, a finance professor with experience in both the public and private sectors, will take over the reins at the regional reserve bank in April.