Unfortunately, the phrase “obsolete financial systems” has been used too often in conjunction with “federal” financial systems. In many agencies, outdated technology creates bottlenecks and poses security risks. As the digital age continues to advance, these systems must be upgraded. Modernizing these systems involves more than just new software. It’s about a fundamental transformation that will bring …
Today, the global markets have shifted as Treasuries fell, as new corporate bonds followed by a selloff of Japanese bonds, drove U.S. rates higher. This move was triggered by a sudden selloff of Japanese government bonds that pushed up their yields. This reaction spread to global fixed income markets, causing investors to adjust their positions and the U.S. Treasury …
The workplace is changing rapidly. Microsoft’s CEO said that empathy is an important workplace superpower at the age of AI, because the future rewards people who combine intelligence with emotional depth. Satya Nadella consistently emphasizes that, while AI automates tasks and accelerates productivity, human abilities are becoming more important. He believes that the ability to empathize is now …
A major disruption within CME Group caused a major disruption. CME Group shook global markets, and trading in the futures and options market across equities, commodities, currencies, and bonds slowed to a halt. Many traders across the globe were left “flying in a blind spot,” unsure how to determine the value of their positions or how …
The rise in SoFi Technologies has shocked markets this year. After seeing its price double within a matter of weeks, the market is wondering if the fintech company has a lot of room to grow -or whether the increase suggests a highly valued stock. SoFi’s strong performance was due to real growth momentum in the business, and not …
China is increasing its commitment to the goal of a clean and sustainable transportation system, which is why its Ping An Leasing E-Mobility Financing Program has been a major step in this direction. The new loan initiative is focused on extending access to electric vehicles (EVs) and sustainable commercial fleets and supporting infrastructure. With China moving towards carbon neutrality, …
As job losses increase across important sectors, Goldman Sachs has issued a new warning regarding the US employment market, pointing out “growing indicators of weakening” which could impact the outlook for economic growth into 2025. Goldman Sachs’ latest report indicates that the market for labor is cooling faster than forecast and raises concerns regarding the rate of hiring, in …
A vendor cyber attack has raised alarms throughout the U.S. financial industry, and several banks are now looking into the severity of a possible data breach. Initial reports indicate that a major vendor of technology employed in JPMorgan, Citigroup, Morgan Stanley, and other financial institutions might be the victim of a major security breach. This cyber attack on vendors has …