Funding & Business
Citi Sees Investment-Banking Fees, Markets Up Mid-Single Digits
Citigroup Inc. said its third-quarter investment-banking fees and trading revenues are both trending up by percentage points in the mid-single digits, amid volatile markets and a resurgence of deal activity.
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US wholesale inflation declined in August for the first time since April as the producer price index decreased 0.1% from a month earlier. From the year before, the PPI rose 2.6%. Michael McKee breaks down the numbers on Bloomberg Television.
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Treasuries rose after a fresh reading on wholesale inflation came in weaker than expected, cementing bets on interest-rate cuts.
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Jim Zelter, president at Apollo Global Management, says the US economy has “legacy inflation issues” and that companies are having a challenging time passing that on to consumers. (Source: Bloomberg)
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