Chinese government bonds are on fire. That's ringing alarm bells in Beijing [Yahoo! Finance]
First Citizens BancShares, Inc. - Class A (FCNCA)
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Source: Yahoo! Finance
The yield on China's onshore 10-year government bond, which is a benchmark for a wide range of interest rates, touched 2.18% Monday, the lowest since 2002 when records began. Yields on 20-year and 30-year bonds are also hovering around historic lows. Bond yields, or the returns offered to investors for holding them, fall as prices rise. Lower borrowing costs should be welcome in an economy struggling to recover from a property crash, sluggish consumer spending and weak business confidence. But the sharp move in bonds is sparking talk of a bubble and triggering acute anxiety among China's policymakers, who fear a crisis similar to the collapse of Silicon Valley Bank (SVB) last year. The People's Bank of China (PBOC) has issued over 10 separate warnings since April about the risk that a bond bubble could burst, destabilizing financial markets and derailing the Chinese economy's uneven recovery. Now it's doing something unprecedented —borrowing bonds to sell them to tamp down prices
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News
- Chinese government bonds are on fire. That's ringing alarm bells in Beijing [CNN]CNN
- Fearing a bank crisis, China is sounding the alarm about a bond market bubble [CNN]CNN
- First Citizens BancShares, Inc. Announces Date of 2024 Second Quarter Earnings CallPR Newswire
- First Citizens BancShares, Inc. (NASDAQ: FCNCA) was upgraded by analysts at Raymond James from a "market perform" rating to an "outperform" rating. They now have a $1,900.00 price target on the stock.MarketBeat
- SVB Financial Bonds Rise After $600 Million Cut to Tax Bill [Yahoo! Finance]Yahoo! Finance
FCNCA
Earnings
- 4/25/24 - Beat
FCNCA
Sec Filings
- 6/12/24 - Form 4
- 6/7/24 - Form SC
- 6/4/24 - Form 4
- FCNCA's page on the SEC website