AGP Executive Report
Last update: 2 hours agoBanking Snapshot: FDIC says U.S. banks’ first-quarter profits rose 3.6% to $80.5B as deposits grew and credit quality stayed mostly favorable, though some areas like residential and CRE ticked up. Mortgage Watch: Zillow reports the 30-year purchase mortgage average eased to 6.627% (from 6.683%), with refinancing at 6.733%, as Iran-linked energy and inflation pressures keep rates elevated. Stablecoin Regulation: FDIC proposes a rule to implement the Bank Secrecy Act for stablecoin issuers, while SoFi rolls out its dollar-backed SoFiUSD stablecoin to nearly 15M retail users via its app. Crypto Flows: Spot bitcoin ETFs saw $334M in outflows, including a reported $1.29B dark-pool sale tied to BlackRock’s IBIT, and the BTC-vs-gold ratio signals renewed rotation toward gold. Corporate Finance: JPMorgan CEO Jamie Dimon expects investment-banking fees to rise 10%+ in Q2. Tech & Capital: Coinbase and Standard Chartered expand multi-currency funding “rails” for institutions through Coinbase Prime. Energy Costs: AES Ohio’s default rate jumps 12% June 1, with summer bills potentially nearing $200 for some customers. Venture/Policy: BDC warns Canada’s venture funding gap could become an “economic sovereignty” issue as ownership and decision-making shift abroad.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result. Feedback is welcome. Please let us know if you have any comments or suggestions about the AGP Executive Report.
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