Vietnam’s dollar bonds are defying a credit downgrade by Moody’s Investors Service as efforts by the government to stabilize the economy since 2011 show progress. The average yield on Vietnamese debt fell to a record low of 4.06 percent on Oct. 10, according to JPMorgan Chase & Co.’s EMBI Global index, even after Moody’s said Sept. 28 there was an “elevated risk” that the government... 

Lower-than-expected CPI in July will provide the basis for the State Bank of Vietnam (SBV) to further lower interest rates in the remaining months of this year, says JPMorgan Chase. In its latest report, JPMorgan Chase predicted that interest rates will further drop at least 200 percentage points in the last six months of this year. JPMorgan Chase experts said that credit growth and economic activities... 

The USD/VND exchange rate will be stable this year and the State Bank of Vietnam (SBV) will likely cut policy rates by another 2-3 per cent in the next quarter on expected Q3 inflation of 5 per cent and full-year figure at 6-8 per cent, said JPMorgan Chase. The consumer price index, Vietnam’s primary gauge of inflation, was estimated to have rose 8.34 per cent in May from one year before, marking... 

US stocks closed firmly in the red Monday as Greece’s political stalemate and Spain’s banking problems drove new fears about the strength of the eurozone. Meanwhile turmoil at JPMorgan Chase over its $2 billion derivatives loss announced last week kept US bank shares under pressure. The Dow Jones Industrial Average slid 125.25 points, or 0.98 percent, to finish at 12,695.35. The S&P... 

US stocks took off Tuesday and the Dow zoomed past the 13,000 mark driven by soaring bank shares, sparked by JPMorgan Chase’s announcement of a huge share buyback and dividend hike. After a sharp surge higher in the final hour the Dow Jones Industrial Average closed up 217.97 points (1.68 per cent) to 13,177.68. The broad-based S&P 500 gained 24.87 (1.81 per cent) to 1,395.96, while the tech-heavy... 

Ratings agency Standard & Poor’s on Tuesday said it had downgraded the ratings of major US banks, including Citigroup, Goldman Sachs, Wells Fargo, JPMorgan Chase, Morgan Stanley and Bank of America. The firm said it had revisited ratings on 37 of the world’s largest banks, part of a process of “applying its new ratings criteria for banks.” S&P announced revised criteria... 

Goldman Sachs Group Inc., Morgan Stanley and Deutsche Bank AG are among 13 financial institutions that submitted bids to advise Vietnam Joint Stock Commercial Bank for Industry & Trade on its planned $500 million overseas bond sale, according to Deputy General Director Le Duc Tho. Others that sent in bids include HSBC Holdings Plc, Standard Chartered Plc, Australia & New Zealand Banking Group... 

US stocks rallied on Thursday as eurozone leaders clinched a deal to bail out Greece, boosting financial stocks that had been battered in recent weeks by fears of a European debt crisis. The Dow Jones Industrial Average jumped 152.50 points (1.21 per cent) to close at 12,724.41. The broader S&P 500 climbed 17.96 points (1.35 per cent) to 1,343.80, while the tech-heavy Nasdaq Composite rose 20.20... 

JPMorgan Chase & Co agreed to pay $153.6 million to settle U.S. Securities and Exchange Commission charges that it defrauded investors who bought mortgage securities sold just before the nation’s housing market collapsed. The regulator’s complaint against the banking giant was larded with excerpts from internal JPMorgan communications that indicated bankers sold a collateralised mortgage... 

PNC Financial Services Group Inc (PNC.N) said on Monday it plans to buy Royal Bank of Canada’s (RY.TO) U.S. retail bank operations and credit card business for $3.62 billion, expanding the bank into the U.S. Southeast. The cash-and-stock deal may be the start of a new consolidation wave among U.S. regional banks. Mid-sized banks are buying competitors to expand into new markets and add customer...