Anna is a New York-based columnist covering fixed income and emerging markets. She was previously a research consultant with Fintech Advisory, a family office specializing in special and distressed opportunities in emerging markets. From 2014 to 2017, she worked on the Emerging Markets Opportunities Fund and Emerging Markets Debt Total Return Fund at Oaktree Capital Management. She began her career in finance at Fintech Advisory in 2008. Anna has also been the co-host of the Slate Money podcast since 2017. She holds a master’s and a bachelor’s in English from New York University, and she is a CFA charterholder.
Upstart XP is the year’s fourth-largest U.S. listing. It can still charge real fees in its cozy market, just like U.S. brokers in the good old days. Falling rates should keep new customers coming. And Brazil looks less prone to the competitive havoc that beset American peers.
The unloved lender, $45 bln on the hook, now has to deal with new President Alberto Fernandez and his austerity-critic economy minister, Martin Guzman. The IMF needs a reboot across the region. Accepting political realities and updating failed prescriptions would be a good start.
The likes of JPMorgan, BofA and Goldman Sachs have barely benefited from Trump administration regulatory rollbacks. But recent repo ructions will spur the Fed to change the rules so that banks won’t have to keep as much cash in reserve. It’ll be a small but welcome relief.