A $5.3 billion settlement with the U.S. Justice Department unsurprisingly dinged Credit Suisse's (CS) fourth quarter results. "Our teams have worked hard and made good progress during a challenging year: they achieved a positive finish to the year. Many of the positive trends that we observed in 4Q16 have continued into January 2017," CEO Tidjane Thiam said on Tuesday. The bank's common equity tier one ratio stood at 11.6%. For 2016, Credit Suisse posted a loss of Sfr2.4 billion. TheStreet's Scott Gamm speaks with TheStreet's banking editor James Langford.
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Let's look at the chances of cuts in September and October, and how to use dollar and yen exchange-traded funds to your advantage.
China has fiddled plenty with the yuan, but has let it strengthen significantly since 2005; the U.S. has brought current weakness in the Chinese currency on itself.
The Chinese government has now demonstrated an ability to control the S&P 500, even at the risk of Chinese domestic capital flight.
Because of our strong economy with virtually no inflation, we have the upper hand in the Chinese talks and, I believe, we could get a deal if we thought the Chinese were going to change their ways, not just their buying patterns.