UBS Chief Economist Arend Kapteyn discusses the Fed's rate outlook following hotter inflation data, the impact of AI investment and borrowing on bond yields, and why he believes AI fundamentals remain strong despite the recent market selloff. Kapteyn also weighs in on Europe's economic challenges, competition with China and France's fiscal outlook. He spoke on Bloomberg Brief.
Private Bancorp of America (NASDAQ:PBAM) reported unaudited third-quarter 2026 net income of $11.4 million, with diluted earnings of $1.97 per share, reflecting year-over-year growth despite a sequential decline.
As the EU weighs new measures to block Chinese imports, Shahin Vallée of the German Council on Foreign Relations and formerly of the French Ministry of the Economy and Finance, joins Bloomberg's Anna Edwards, Guy Johnson, and Tom Mackenzie on "The Opening Trade." "I think more than a measure to rebalance trade with China, it is a measure to try to rebalance the negotiations that are taking place."
Andrew Balls, global fixed income CIO at Pimco, says one to two further interest-rate hikes from the Federal Reserve "seems reasonable" as the central bank targets a return to 2% inflation. He also explains why he sees "good value" in the long end of the Treasury yield curve amid uncertainty around artificial intelligence. He speaks on "Bloomberg Surveillance."
Truist Financial (NYSE:TFC) reported third-quarter 2026 adjusted earnings of $1.16 per share, exceeding Wall Street's $1.14 estimate, while revenue fell short of expectations.
Citizens Financial Group (NYSE:CFG) reported third-quarter 2026 net income of $636 million, up 29% year over year, while diluted earnings per share increased 34% to $1.41.
Regions Financial (NYSE:RF) reported third-quarter 2026 earnings available to common shareholders of $611 million, with diluted earnings of $0.71 per share, up 16% year over year.
Vale CEO Gustavo Pimenta says iron ore prices should be "a little higher" as surging energy and freight costs make about 10% of global seaborne supply unprofitable. Iron ore futures in Singapore fell below $90 a ton this week for the first time in two years and are down about 15% in 2026. Speaking on "The Pulse With Francine Lacqua", Pimenta discussed Chinese demand, rising mining costs and what Brazil's presidential election outcome could mean for the country's mining sector.
Taiwan plans to tighten export controls on AI chips in an effort to further align with US restrictions, joining a Trump administration clampdown on the smuggling of semiconductors to China. Neil Campling reports on Bloomberg Television.
After nearly two decades of discussions Uganda is preparing to become an oil producing nation before the end of its financial year in June 2027. This comes as East Africa works to become more energy self sufficient amid a disruption in oil flows from the Middle East conflict. Kristina Kasebayo, Head of Compliance at the Uganda National Oil Company explaind to Bloomberg Television Chief Africa Anchor and Correspondent Jennifer Zabasajja in a fireside chat at Africa Energy Week.
M&T Bank (NYSE:MTB) reported third-quarter 2026 net income of $775 million and diluted earnings of $5.04 per share, reflecting lower quarterly profit despite growth in loans and deposits.
Ludovic Subran, chief investment officer and chief economist at Allianz, expects Federal Reserve Chairman Kevin Warsh to raise interest rates by as much as 75 basis points once the midterm elections are over. "The US is running hot, and I think he cannot ignore that," Subran tells Bloomberg Television. "I do expect the US will have to act decisively on inflation, both from energy, but also from AI," he adds.
