Bob Michele, global head of fixed income at JPMorgan Asset Management, explains the factors he sees creating "nice" tailwinds for the bond market. ...

据林朝晖介绍，目前，广发银行在粤贷款余额占到全行一半，在粤纳税占全行六成，投资广东地方债规 模连续五年居股份制银行首位，同时配合母公司中国人寿集团实现在粤投资规模超过8100亿元。 2月24日，2026年广东省高质量发展大会在广州举行。在当天下午举行的"科技与金融创新赋能产业融 合"分会场上，中国人寿集团党委委员、副总裁，广发银行党委书记、行长林朝晖表示，广发银行作为 唯一一家总部设在广州、在粤港澳大湾区"9+2"城市以及全省21个地市实现网点全覆盖的全国性股份制 银行，深切认识到自身的职责和使命所在。 林朝晖表示，广发银行将自觉服从服务大局，主动策应省委省政府重大部署，充分发挥背靠国寿、立足 湾区的特色优势，全力推动在粤业务"十五五"期间实现跨越式发展，努力成为服务大湾区建设的主力银 行。 （文章来源：21世纪经济报道） 一方面，广发银行将充分发挥背靠国寿集团的特色优势，深度融合集团保险、投资、银行等多牌照多功 能的服务优势，更加精准地适配客户日趋综合性、多样化的金融需求。另一方面，将充分发挥立足大湾 区的特色优势，用好改革开放政策红利以及境内境外两个市场两种资源，聚焦区域产业特色和客户实 需，积极推动产品 ...

三大路径破解中小企业融资难题 制造业与服务业融合过程中，中小企业常面临"轻资产、缺抵押"的融资难题，广东工行又有哪些针对性 创新举措？ 对此，韩松回应称，广东工行通过"产品创新+数字赋能+生态共建"三大路径破解。在产品创新上，推 出"专精特新贷""粤科e贷""入园企业购建贷"等专属产品，以创新积分、知识产权、订单数据为增信基 础，单户最高可获1000万元信用额度。 2月24日，广东省高质量发展大会顺利召开，会议以"制造业与服务业协同发展"为主题，对广东产业融 合发展提出了更高要求。在当日大会"科技与金融创新赋能产业融合"分会场上，谈及如何进一步深化科 技与金融创新的协同赋能，中国工商银行广东省分行（下称"广东工行"）行长韩松表示，将围绕科技、 数据、资本三大核心要素，实施差异化赋能策略。 制造业贷款余额近4500亿元 当前广东正全力推动制造业与服务业深度融合，作为国有大行，广东工行在适配这一趋势中，构建了怎 样的金融服务体系？ 韩松表示，广东工行始终以"金融赋能产业协同"为核心，设立"大湾区制造业中心+科技金融中心"专营 机构，将生产性服务业作为制造业协同发展的核心抓手，重点聚焦科技服务、数字赋能、场景创新等 ...

潮涌东方，奋楫者先。2025年，上海金融市场交易总额达4058.95万亿元，比2020年增长78.4%；上海持 牌金融机构达1813家，五年间净增139家；2025年上海金融业增加值增速提高至9.7%，金融对上海经济 增长的支撑更加有力。数字背后是上海国际金融中心建设迈向更高能级的底气与强劲动能。周小全表 示，"十四五"以来，上海金融系统克难攻坚、砥砺奋进，"十四五"规划目标任务全面完成，为"十五 五"时期高质量发展打下坚实基础，上海国际金融中心建设站上新的起点。 "'2025年上海国际金融中心建设十大事件'是上海金融系统守正创新、踔厉奋发、勇毅前行的生动写 照，也是央地协作、政企联动、政策协同的真实缩影。"上海市委金融办常务副主任周小全表示，"我们 期待并坚信，在上海为国担当、勇为尖兵的'十五五'宏伟征程上，大家将进一步携起手来、凝心聚力、 同向同行，续写上海国际金融中心建设壮美华章，为金融强国建设贡献更多力量。" 绘蓝图砥砺奋进上海国际金融中心建设站上新起点 "刚刚过去的2025年是上海国际金融中心建设的关键一年。"周小全指出，中央金融委印发《关于支持加 快建设上海国际金融中心的意见》，擘画了未来5至10 ...

对此，韩松回应称，广东工行通过"产品创新+数字赋能+生态共建"三大路径破解。在产品创新上，推 出"专精特新贷""粤科e贷""入园企业购建贷"等专属产品，以创新积分、知识产权、订单数据为增信基 础，单户最高可获1000万元信用额度。 数字赋能方面，韩松表示，该行搭建线上化服务平台，整合工商、税务、供应链等多维数据，实现"数 据可用、信用可贷"；在生态共建上，该行联合政府融资担保机构、产业园区，建立"主动授信+自动化 审批"机制，审批时长较常规贷款大幅缩短。 2月24日，广东省高质量发展大会顺利召开，会议以"制造业与服务业协同发展"为主题，对广东产业融 合发展提出了更高要求。在当日大会"科技与金融创新赋能产业融合"分会场上，谈及如何进一步深化科 技与金融创新的协同赋能，中国工商银行广东省分行（下称"广东工行"）行长韩松表示，将围绕科技、 数据、资本三大核心要素，实施差异化赋能策略。 制造业贷款余额近4500亿元 当前广东正全力推动制造业与服务业深度融合，作为国有大行，广东工行在适配这一趋势中，构建了怎 样的金融服务体系？ 韩松表示，广东工行始终以"金融赋能产业协同"为核心，设立"大湾区制造业中心+科技金融中心"专 ...

Valued at a market cap of $811.3 billion, JPMorgan Chase & Co. (JPM) is the largest U.S. bank by assets and a globally systemically important financial institution. The New-York-based firm provides a full spectrum of financial services across consumer banking, corporate and investment banking, commercial banking, and asset & wealth management. Companies worth more than $200 billion are generally labeled as “mega-cap” stocks, and JPMorgan Chase fits this criterion perfectly. Formed through the 2000 merger ...

The Dow Jones Industrial Average (^DJI) was down 821.91 (-1.66%) points today, as the index retreated to 48,804.06. While Dow Futures (YM=F) was up 126.00 (+0.26%), the spot market struggled under the weight of significant losses in the technology and financial sectors. The dominant narrative was a sharp correction in enterprise tech sentiment following a major decline in IBM (IBM), coupled with renewed fears regarding consumer credit health that battered payment processors and major banks.The primary catal ...

This story was originally published on Banking Dive. To receive daily news and insights, subscribe to our free daily Banking Dive newsletter. Citi has agreed to sell another 24%, or 499 million shares, of its Mexico retail-banking unit for roughly $2.5 billion, the lender said Monday. Private-equity firm General Atlantic, Brazilian bank BTG Pactual and insurance giant Chubb are among the buyers. Funds managed by Blackstone, Liberty Strategic Capital and Qatar Investment Authority have also taken stakes, as ...

This story was originally published on Banking Dive. To receive daily news and insights, subscribe to our free daily Banking Dive newsletter. JPMorgan Chase CEO Jamie Dimon on Monday warned of similarities between the current moment and the years just before the 2008 financial crisis, saying he’s anxious that lofty asset prices are fueling the risk of a coming credit cycle.     The bank has more competitors than ever now, and everyone’s on offense, the CEO said.  “My own view is people are getting a litt ...

Investment Rating - The report assigns a "Buy" rating for the banking sector, indicating an expectation of stock performance exceeding the market by more than 10% over the next 12 months [58]. Core Insights - In 2025, the banking sector's asset growth is projected to be 8.01%, an increase from 6.52% in 2024, driven by factors such as fiscal stimulus, cross-border capital inflows, and the activation of maturing deposits [5][13]. - The report identifies two key cycles affecting asset pricing in banking: the bank expansion cycle and the interest margin cycle, suggesting a comprehensive analysis of these cycles [5][13]. - The debt cycle is characterized as a fundamental aspect of the bank expansion cycle, with a model proposed by Dalio outlining seven stages of a typical debt cycle, which can be influenced by external debt reliance [16][19]. - The report anticipates limited upward space for the debt cycle in 2026, with government leverage expected to increase by 5.89%, lower than the 7.6% projected for 2025 [35][36]. - The banking interest margin cycle is expected to stabilize in 2025, following two complete cycles since 2010, with a correlation observed between bank interest margins and the 30Y-10Y government bond spread [41][45]. Summary by Sections Bank Expansion Cycle - The asset growth rates for different types of banks in 2025 are projected as follows: state-owned banks at 11%, joint-stock banks at 4.74%, city commercial banks at 9.68%, and rural commercial banks at 5.17%, all exceeding the average growth rate [5][13]. - The report emphasizes the importance of understanding the relationship between bank assets and liabilities, highlighting that credit and debt expansion are cyclical and self-reinforcing [15][16]. Debt Cycle Analysis - The report outlines that the current debt cycle, which began in 2022, has lasted 16 quarters, surpassing previous cycles, and indicates a shift in leverage dynamics among enterprises, government, and households [35][36]. - The analysis includes a comparison of deflationary and inflationary debt cycles, noting that the U.S. faces greater inflationary pressures due to higher external debt reliance compared to China [21][19]. Interest Margin Cycle - The report notes that the banking interest margin has experienced significant fluctuations since 2010, with a stabilization phase expected to begin in 2025 [41][45]. - It highlights the impact of loan repricing cycles on interest margins, with a notable decline in loan rates observed in recent years [49][50].