Earnings should boost hot bank trades: RBC’s Gerard Cassidy

Ruben Onsu

One of the year’s hottest trades may get a boost from earnings season.

RBC Capital Markets’ Gerard Cassidy expects financials to exceed Wall Street expectations when they start reporting this week.

“The big beats are likely to come from the loan loss reserve releasing numbers,” the firm’s head of U.S. bank equity strategy told CNBC’s “Trading Nation” on Friday. “Last year because of the pandemic, the banking industry set aside billions of dollars in anticipated credit losses, and the reserves for these losses weren’t used.”

Financials were the third worst performing S&P 500 group in 2020, behind energy

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The Top 10 Financial Mistakes for Young Couples to Avoid

Ruben Onsu

Talking about money may not be the most romantic conversation, but it just may be one of the best things you can do for your relationship.

At a time when the stress of a global pandemic has set divorce on the rise — particularly among younger couples, according to the National Law Review — minimizing money disputes is even more important.

But it’s not all doom and gloom: Setting a solid financial foundation is one of the first steps a newly married couple can take on their path to enduring financial harmony. Couples who can avoid the following financial mistakes

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5 Financial literacy lessons that lead to better investing

Ruben Onsu

In celebration of Financial Literacy Month, CNBC Invest in You is featuring weekly stories from highly regarded business figures, including financial advice and lessons they have accumulated over their careers.

For investors, 2020 was a year of extremes. In February, the longest bull market of the century came crashing down, only to rebound and reach new highs within a year.

Millions of Americans lost jobs and wages with no safety net to catch them, while a new breed of retail investors entered the markets and dominated headlines.

The old adage, “knowledge is power” has never been more true. Financial literacy

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China’s bitcoin crackdown contradicts Peter Thiel’s belief that it is a ‘financial weapon’ against U.S.

Ruben Onsu

Billionaire venture capitalist Peter Thiel made waves Tuesday when he suggested that bitcoin could be thought of as “in part a Chinese financial weapon against the U.S.,” because, he argued, bitcoin undermines the U.S. dollar’s status as the world’s reserve currency.

“From China’s point of view, they don’t like the U.S. having this reserve currency because it gives the U.S. a lot of leverage over Iranian oil supplies and all sorts of things like that,” the PayPal
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founder and Facebook
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board member said during a virtual event for the Richard Nixon Foundation. Bitcoin
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,

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9 Black Financial Educators You Should Be Following on Instagram

Ruben Onsu
Personal finance expert Jamila Souffrant

Gone are the days when financial advisors were confined to older White men (and the occasional woman) who rarely if ever understood the nuances between Black folks and our relationships with money. Thanks to social media, a much broader range of experts in this space abounds – and we can easily access their advice from the convenience of our cellular phones. Dialogue around personal finance from breaking into the stock market, saving for retirement and salary negotiations is no longer taboo. But who are the trusted pros leading these necessary conversations and how does one

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Wall Street Finds New Way To Finance Unprofitable Tech Firms

Ruben Onsu

No earnings? No problem. Investors are funneling money to unprofitable software companies through a new type of debt deal.

Nonbank lenders like Golub Capital, AllianceBernstein Holdings LP and Owl Rock Capital Partners LP have issued asset-backed bonds to help finance about $2 billion of loans to such companies since November, according to data from Kroll Bond Rating Agency Inc. and S&P Global Market Intelligence. Many of the loans are to fast-growing, but still unprofitable, software enterprises.

The rash of recent deals is the latest indicator that large investors have resumed their hunt for high-yielding debt to offset low interest rates

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