Market Moves
Stock Market Slumps Amid S&P’s Bank Downgrades
Ratings drops affect Comerica and KeyCorp, following Moody’s negative actions on lenders two weeks ago.
Tag: Silicon Valley Bank
Asset Allocation
Highest Dividend Payers Are Biggest Losers in S&P 500
Those stocks, such as Altria and Verizon, carry the top yields, but their flagging prices negate the sweet payouts, according to Bespoke.
Risk
Moody’s Surprises the Market With Bank Downgrades
Post-SVB, most thought all was well with the banking system, but the rating agency sees worrisome weaknesses.
Asset Allocation
Norway Pension Giant Seeks To Remove ‘Rotten Apples’ From Portfolio
CEO Nicolai Tangen acknowledged that Norges Bank Investment Management ‘lost a considerable sum’ from the Silicon Valley Bank failure.
Newsmakers
Alecta Fires CEO as Fallout Continues From $2 Billion Banking Losses
Magnus Billing lost the confidence of the pension fund’s board, and Katarina Thorslund has been named acting CEO.
Risk
Pension Funds Sue Silicon Valley Bank’s Officers, Auditor KPMG Following Failure
Complaint alleges the company's executives and its auditor ‘understated and concealed’ the risks posed by rising interest rates.
Market Moves
Alecta Replaces Equities Head in Wake of US Banking Losses
Liselott Ledin was placed on leave after Sweden’s largest pension fund lost almost $2 billion during recent U.S. banking failures.
Risk
Property Loan Securities Are the Latest Problem
How reduced office occupancies and other obstacles slam the CMBS market.
Newsmakers
Sweden’s Largest Pension Loses More Than $1 Billion to U.S. Banking Crisis
Alecta says it held talks with Silicon Valley Bank in 2022 about liquidity concerns.