Financial Stocks Rise Amid Earnings and Economic Data – Financial Roundup


Shares of banks and other financial institutions rose as investors eyed earnings reports and economic data ahead of inflation figures due later in the week, which could set expectations for how the Federal Reserve will address monetary policy in its upcoming meetings.

TPG posted a loss in the second quarter due to a decline in its portfolio of investments, although the private equity manager saw a significant increase in commissions received from its investments.

Munich Re slashed its full-year return on investment forecast amid a slowing economy and higher rates, although earnings and premiums beat second-quarter expectations as it weathered larger losses.

National Australia Bank, Australia’s largest business lender, reported higher third-quarter profits and said the majority of its customers were well placed to handle the challenges of rising inflation and interest rate.

Public pension schemes lost a median of 7.9% in the year ended June 30, according to data from the universal comparison service Wilshire Trust, their worst annual performance since 2009 and a new sign of chronic financial stress. faced by governments and savers.

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