Wealth management

But the 12-month view is different, as a significant portion of those polled see more North American corporate defaults. Commercial real estate seems to have recovered some confidence.

The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.

Built around flexible capital that can grow alongside leading originators, the strategy will seek asset-based opportunities in North America first, then add European credit markets.

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.

The student loan giant fell far short of Wall Street's expectations, but its leaders say President Trump's "Big Beautiful Bill" is likely to bring it billions of dollars in new business.

The CEOs of Bank of New York Mellon and Northern Trust have had at least one discussion about a potential merger, according to a Wall Street Journal article. On Monday, a spokesperson for Northern Trust said the bank "is fully committed to remaining independent."

At the Denver firm, Brooks will expand its capabilities in real estate lending and structured finance.

All the notes have credit enhancement totaling 28.3% of the pool balance, rating agencies said.

Fears of a recession intensified after President Trump unveiled his plan to impose a minimum 10% tariff on all U.S. imports, and the KBW Nasdaq Bank Index tumbled by nearly 10%.

The looming initial public offering from Swedish payments firm Klarna comes in the foreground of tariff uncertainties and inflationary pressures.

The KBW Nasdaq Bank Index is down more than 7% year to date. Analysts blame confusion caused by President Trump's evolving tariff policies and heightened worries about an economic downturn that could hurt banks' credit quality.

TCW is launching a real estate debt strategy as it seeks to grow its alternatives business and compete with other money managers moving into the $1.6 trillion private credit industry.

Analysts say lenders' shares could rally on deregulation, lighter tax burdens and a resurgence of M&A. Declining interest rates and lower loan losses could further bolster bottom lines and attract investor interest.

Clients have been yanking their cash since the Pasadena, California-based company said on Aug. 21 that Leech was going on leave after he received a notice from the SEC that it may recommend enforcement action.

Anticipated interest rate cuts could help stressed borrowers, but such a shift in monetary policy may curb lending income.

The sale of the $318 million-asset portfolio comes five weeks after the Greenville, South Carolina-based company agreed to sell its investment advisory unit.

The pension plan's investment is a show of support from one of the world's largest private markets investors for the securities.

With Theorem, Pagaya's fund management business is expected to grow to more than $3 billion of capital

Transportation, automotive, healthcare, and commercial real estate are the sectors most affected, but borrowers are doing better than expected.

Bank stocks are up this year as interest rates have leveled off and there are hopes that pressure on lenders' profits could moderate.