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JPM
JPMorgan chief held private talks with UK s May Hammond Sky News
Reuters JPMorgan Chase Co N JPM Chief Executive Jamie Dimon held private talks with British Prime Minister Theresa May and finance minister Philip Hammond on Wednesday Sky News reported Dimon warned May and Hammond that the French government is intensifying efforts to lure British banking jobs to France Sky...
JPM
Asian Shares Gain Led By Surging Nikkei 225 As Trump Tour Continues
Investing com Asian shares gained on Thursday with Tokyo hitting fresh record highs as the region monitored President Donald Trump s extensive tour through Asia now in China after leadership meetings in Japan and South Korea and ahead of an APEC summit In Japan the Nikkei 225 jumped 1 75 and crossed 23 000 to the ...
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Cyber attack on Union Bank of India similar to Bangladesh heist WSJ
MUMBAI Reuters A cyber attack on Union Bank of India last July began after an employee opened an email attachment releasing malware that allowed hackers to steal the state run bank s data the Wall Street Journal reported on Monday The attempt closely resembled the cybertheft last year of more than 81 million fro...
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Wall Street ends choppy session up slightly energy helps
By Caroline Valetkevitch NEW YORK Reuters U S stocks ended a choppy session slightly higher on Monday as gains in energy shares offset losses in financials ahead of quarterly corporate earnings later this week Geopolitical tensions added to the choppiness U S Secretary of State Rex Tillerson said on Sunday the ...
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Asia shares mostly weaker with Sydney up Toshiba eyed in Japan
Investing com Asian shares were mostly weaker on Tuesday with Sydney up slightly to buck the trend and investors looking to Tokyo for the latest word on Toshiba The Shanghai Composite eased 0 46 and the Hang Seng Index fell 0 81 Japan s Nikkei 225 declined 0 55 In corporate news Foxconn has offered a 27 billi...
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U S stock futures tread water amid geopolitical tension
Investing com Wall Street futures pointed to a flat open on Tuesday as a light economic calendar ahead of the unofficial start for first quarter earnings left investors contemplating rising geopolitical tensions The blue chip Dow futures was unchanged at 6 55AM ET 10 55GMT the S P 500 futures slipped 1 point or ...
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Bristol Myers Squibb Tests Key Level Here s The Play
Bristol Myers Squibb NYSE BMY is a leader in the discovery development licensing manufacturing marketing distribution and sale of biopharmaceutical products Today the stock is trading lower by 2 05 to 58 12 a share This morning the price target was lowered by Citigroup NYSE C after meetings with Pfizer ...
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Citigroup C Beats On Q1 Earnings As Revenues Improve
Have you been eager to see how Citigroup NYSE C performed in Q1 in comparison with the market expectations Let s quickly scan through the key facts from this New York based money center bank s earnings release this morning An Earnings BeatCitigroup came out with earnings per share of 1 68 surpassing the Zacks Co...
JPM
Commodities And FX Global Macro Currents
Oil and natural gas prices remain under pressure Other commodities even orange juice are weak Some commodity trends look deflationary and that s how bond markets see it Brazilian real at record lows Palladium up platinum down on Volkswagen XETRA VOWG crisis The latest data from the US shows crude inventories low...
JPM
Is Brazil For Real
BRL rises on prospect of USD sales Brazilian macro environment remains dismal EM currencies continue to tumble Let s begin with Brazil where the central bank has threatened to use FX reserves to buy the real Previously Brazil had used sterilised interventions such as FX swaps and dollar repo which thus far have ...
JPM
USD JPY The Range Persists
The USD JPY range persists notes JPMorgan NYSE JPM The 119 30 118 65 zone remains the critical test and should continue to hold to maintain the potential for a deeper short term recovery JPM argues A break above the 121 30 80 area is necessary to allow for an extension into the 123 124 zone C wave JPM proj...
JPM
Daily Shot Malaise Seeps Into Services Sector
Manufacturing malaise spreads to services sector Raft of PMIs undershoot consensus expectations Weakness particularly severe in Brazil India corporate earnings optimism may be excessive US diesel and natural gas prices slump Today let s take a look at the global service sector We ve seen manufacturing weakening acros...
JPM
Hillary Bernie And The Banks
Giant Wall Street banks continue to threaten the wellbeing of millions of Americans but what to do Bernie Sanders says break them up and resurrect the Glass Steagall Act that once separated investment from commercial banking Hillary Clinton says charge them a bit more and oversee them more carefully Most Republican...
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Bankrupt gun maker Colt gets revised loan eases rush to sale
By Jim Christie Reuters Bankrupt gun maker Colt Holdings has reached an agreement with its bondholders that will postpone the company s rush into a controversial sale to its current private equity owner while also providing much needed cash Colt will accept a loan of up to 75 million from its bondholders and othe...
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Fintech explosion puts banks in digital firing line
By Eric Auchard FRANKFURT Reuters The world s top banks and insurers are seeing their business models challenged by fintech start ups which are reshaping what consumers and businesses expect from financial services industry insiders and experts say A report out Tuesday from the World Economic Forum WEF the...
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Banks Enabled Puerto Rico s Debt Addiction
By After a decade of economic stagnation and high unemployment Puerto Rico is at a precipice of insolvency with no way to pay off its massive 73 billion debt The commonwealth s politicians policymakers and populace all bear some responsibility San Juan s political leaders have spent years dodging unpopular mea...
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Oil falls more than 3 percent after Greek No
By Christopher Johnson LONDON Reuters Oil prices fell more than 3 percent on Monday after Greece rejected debt bailout terms and China rolled out emergency measures to support its stock markets adding to concerns about demand at a time of global oversupply The result of Greece s referendum put in doubt its member...
JPM
JPMorgan expects Fed to raise rates four times in 2018
NEW YORK Reuters JPMorgan Chase Co NYSE JPM on Friday raised its forecast on the number of U S interest rate increases by the Federal Reserve next year to four from three as the October payrolls data reinforced the view of a tightening domestic labor market In this environment we believe the Fed will see ev...
JPM
Lebanon tries to reassure markets as bond prices fall after PM resigns
BEIRUT Reuters Lebanese authorities said on Monday the country s financial institutions could cope with the prime minister s surprise resignation at the weekend and the stability of the Lebanese pound was not at risk But two days after Prime Minister Saad al Hariri resigned in a broadcast from Saudi Arabia the ca...
JPM
Zebra Tech 7 after Q3 beats in line guidance investors worry about gross margin
Zebra Technologies NASDAQ ZBRA shares are down 7 12 despite Q3 results that beat EPS and revenue estimates with in line and better guidance Q4 guidance revenue 972M to 1B consensus 963 56M EPS 2 00 to 2 20 consensus 2 08 Analyst comment William Blair analyst Brian Drab tells...
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U S stock futures cautious after Syria attack with jobs report on tap
Investing com Wall Street futures pointed to a flat to lower open paring initial losses sparked by the first U S military strike of Donald Trump s presidency as investors appeared to take the incident in stride and looked ahead to the outcome of the U S China summit and the employment report The blue chip Dow fu...
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Paraguay president s re election bid unsettles his corporate allies
By Luc Cohen ASUNCION Reuters Paraguayan business groups are urging the country s Congress to abandon a proposal that would allow President Horacio Cartes to seek re election fearing popular outrage could jeopardize his administration s progress in attracting foreign investment While they generally back Cartes ...
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Investors look to global growth for earnings power
By Caroline Valetkevitch NEW YORK Reuters America First may be a main policy of the White House and fuel to the stock market rally but U S investors are looking overseas for stronger earnings as S P 500 companies are set to report their first quarter of double digit profit gains since 2014 A strong earnings seaso...
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The Week Ahead 5 Things to Watch on the Economic Calendar
Investing com In the holiday shortened week ahead market players will focus on comments from Federal Reserve Chair Janet Yellen for further hints on the timing of the next U S rate hike and clues on how the central bank plans to pare back its balance sheet Investors will also keep an eye out on a few U S economic...
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Investors flock to macro hedge funds but not only the old guard
By Maiya Keidan Svea Herbst Bayliss and Lawrence Delevingne LONDON BOSTON Reuters Macro hedge funds are back in favor with investors seeking to take a view on U S President Donald Trump s economic policies European elections or interest rates but it is start up funds rather than established players which are...
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Citigroup sees Macron winning French vote changing its earlier Fillon forecast
PARIS Reuters U S investment bank Citigroup NYSE C said on Monday it had changed its baseline or most probable scenario for the French presidential election to a win for centrist Emmanuel Macron compared to its earlier forecast of a victory for conservative Francois Fillon We change our baseline to a Macr...
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U S stock futures on pause with Fed chair Yellen on tap
Investing com Wall Street futures pointed to a flat open on Monday as investors keep an eye on geopolitical developments and looked ahead to an appearance from Federal Reserve chair Janet Yellen The blue chip Dow futures and the S P 500 futures were both unchanged by 6 58AM ET 10 58GMT while the tech heavy Nasdaq...
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Chart Of The Day Citigroup Headed Lower Markets Just Don t Know It Yet
Citigroup NYSE C is schedule to report Q1 18 earnings this coming Friday April 13 before market open The consensus is for an EPS of 1 62 versus 1 36 for the same quarter last year It s possible that along with any top and bottom line issues Citigroup may also be about to experience some The recent decision...
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Should You Buy Citigroup C Stock Ahead Of Earnings
Shares of Citigroup NYSE C surged as much as 2 in early morning trading Thursday just one day ahead of the highly anticipated release of the company s latest quarterly earnings report With interest rate uncertainty looming above the entire finance sector investors will want to pay close attention to the latest ...
JPM
Stock Market Confessions Chaos Complexity And The Illusion Of Control
In the old days of the Chinese Cultural Revolution those who said or did something perceived by the Chinese authorities to be counter revolutionary were forced into public confessions and then humiliated imprisoned or even put to death It seems that old ways die hard Last week the new China the one that had thro...
JPM
Biggest One Day Gain Since 2008
Stock market surged worldwide on Tuesday and early Wednesday as Chinese shares post their strongest one day gains since 2008s height of the financial crisis The Japanese Nikkei rallied 7 7 in its biggest one day climb in seven years on the heels of new corporate tax laws that see a 3 3 decrease in the corporate tax ...
JPM
Gold s True Fundamentals Are Mixed
To paraphrase Jim Grant gold s perceived value in USD terms is the reciprocal of confidence in the Fed and or the US economy That s why the things I refer to as gold s true fundamentals are measures of confidence in the Fed and or the US economy I ve been covering these fundamental drivers of the gold price in TSI c...
JPM
JPM To Stop Open Outcry Ring Trading On LME
JPMorgan Chase NYSE JPM is quitting open outcry trading on the London Metal Exchange after reducing its commodity business The move will reduce the number of financial institutions trading in the LME ring to 9 including Societe Generale PARIS SOGN Sucden Financial Ltd and INTL FCStone Inc It is the latest mo...
JPM
JP Morgan Loses 45 Of Registered Gold Stock In 1 Day
While the drain of COMEX gold and silver Registered inventories continues as demand for physical precious metals increases JPMorgan Chase Co NYSE JPM experienced a 45 decline of its Registered Gold Inventories in one day JP Morgan now only has a lousy 10 777 oz of gold remaining in its Registered gold inventorie...
JPM
Down But Not Out Emerging Market Bonds
Lately the headlines have been dominated by stories about how badly emerging markets EMs are doing Indeed EM stock markets are down by as much as a third or more in dollar terms The iShares MSCI Emerging Markets ETF NYSE EEM for instance is trading at May 2009 prices Compare that to the U S market which st...
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China May investment up 11 4 percent year on year
BEIJING Reuters China s fixed asset investment grew at its slowest rate in nearly 15 years in May missing expectations even as growth in retail sales and factory output steadied arguing for Beijing to increase policy support to avert a deeper downturn Fixed asset investment a crucial driver of the world s secon...
JPM
U S third quarter productivity fastest in three years jobless claims fall
By Lucia Mutikani WASHINGTON Reuters U S worker productivity increased at its fastest pace in three years in the third quarter but the trend remained moderate suggesting that a recent acceleration in economic growth was unlikely to be sustained Other data on Thursday showed the number of people filing for unempl...
JPM
Wells Fargo unveils app aimed at millennials
Reuters Wells Fargo NYSE WFC Co on Thursday unveiled a new digital bank account app intended to help people who may be new to banking keep track of their finances more easily The new Greenhouse account is set to launch in the first half of 2018 said Avid Modjtabai Wells senior executive vice president an...
JPM
Next Fed Chief Can All But Ignore Emerging Market Currencies
Bloomberg Of all the global challenges that may confront the next chairman of the Federal Reserve here s one major asset class where he can rest easy emerging market currencies History shows that developing nation rates have been less volatile when the Fed is raising rates according to data compiled by Bloombe...
JPM
New York regulator to quiz senior Barclays staff over whistleblowing scandal source
NEW YORK LONDON Reuters New York state s banking regulator will be interviewing senior Barclays LON BARC executives from New York and London over a whistleblowing scandal in the coming weeks a source familiar with the situation said The New York Department of Financial Services NYDFS has been investigating ...
JPM
JPMorgan expands Greater China equities research with new hires
HONG KONG Reuters JPMorgan N JPM has expanded Greater China equities research coverage with about half a dozen new hires this year with plans to add more next year as global investors look to boost their allocations to China stocks a senior banker said on Friday China listed shares inclusion in the U S index...
JPM
Venezuela calls creditors to debt restructuring talks
By Andrew Cawthorne and Brian Ellsworth CARACAS Reuters President Nicolas Maduro s cash strapped socialist government invited Venezuelan bondholders to a Nov 13 meeting in Caracas as a shock decision to restructure the OPEC nation s foreign debt sent prices plunging on Friday Vice President Tareck El Aissami who...
JPM
Gold s War Between Physical And Paper
Gold and silver traded in a tight range this week on low futures volumes Last Friday the gold price rallied from 1 080 to 1 101 last night it closed at 1 089 Silver also traded in a narrow range though both are slightly firmer in early European trade this morning The market background is extraordinary Last week...
JPM
Gold s Artificial Lows Price Surge Coming
Please Note Future editions of our Daily Market Update will focus on breaking news and important market commentary of the day Our Weekly Market Update published on Fridays will now deliver to you value added content and more detailed and comprehensive market analysis With gold languishing near deep secular lows ...
JPM
Still Waiting For That Oversold Rally
Trend Model signal summary Trend Model signal Neutral Trading model Bullish The Trend Model is an asset allocation model which applies trend following principles based on the inputs of global stock and commodity price In essence it seeks to answer the question Is the trend in the global economy expansion bullish...
JPM
S P 500 Futures Finally Pulled Back To Moving Average
Monthly S P 500 Emini futures candlestick chart Finally pulled back to the moving average The monthly S P500 Emini futures candlestick chart pulled back to the moving average and found 20 gap bar bulls Will this be more like October 2000 or October 2014 The monthly S P 500 Emini futures candlestick chart found 20...
JPM
Energy Is On The Rebound
After two bleak months energy prices have finally changed course WTI diesel and Brent crude varied by 15 14 and 17 respectively in U S dollars in the final two trading days of last week alone In a recent analysis U S bank JPMorgan Chase Co NYSE JPM examined the credit risk of companies in the energy se...
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Dollar has quick pitstop then motors to new highs
By Jamie McGeever LONDON Reuters Financial market trading revolved around the U S dollar on Wednesday with European shares rallying on the back of a weak euro and U S shares and commodities struggling The dollar soared to a fresh eight year high against the yen after having fallen back earlier on Wednesday follo...
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China factories scrabble for growth in May export demand shrinks
By Koh Gui Qing BEIJING Reuters Growth in China s giant factory sector edged up to a six month high in May but export demand shrank again prompting companies to shed jobs and keeping alive worries about a protracted economic slowdown a government survey showed on Monday In a sign that China s worst downturn in a...
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Oil up ahead of OPEC meeting as dollar slips
By Christopher Johnson LONDON Reuters Oil prices rose on Tuesday in response to a weaker dollar and expectations that OPEC producers would maintain their group production target at its current level and resist pressure for an increase The dollar fell more than 1 percent against a basket of currencies making oil c...
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OPEC to pump flat out for months more
By Reem Shamseddine and Alex Lawler VIENNA Reuters OPEC is set to carry on pumping oil nearly flat out for months more content that last year s shock market therapy has revived demand and knocked back growing competition With oil prices having stabilized at around 65 a barrel some 20 above their January lows ...
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U S trade jobs data encouraging services sector disappoints
By Richard Leong NEW YORK Reuters The U S trade deficit narrowed in April on a drop in imports which surged in March following the end of a West Coast ports labor dispute while companies picked up their hiring in May after a pullback the previous month The data supported the notion the U S economy has recovere...
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Alibaba unit says to raise 1 6 billion in share sale for media acquisitions
HONG KONG Reuters Alibaba Pictures Group Ltd HK 1060 the film and entertainment unit of China s largest ecommerce company said on Thursday it plans to raise 1 6 billion in a share offering to select investors to finance media related acquisitions The deal comes after a rally that nearly doubled the shares...
JPM
Bondholders yet to receive payment on PDVSA 2020 bond sources
By Corina Pons and Brian Ellsworth CARACAS Reuters Bondholders have not yet received an 842 million payment that Venezuelan state oil company PDVSA said on Friday it had made on its 2020 bond six market sources said on Monday further fueling doubts about the cash strapped company s finances PDVSA PDVSA UL has...
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Citigroup aims to double South Korea wealth assets by 2020
HONG KONG Reuters Citigroup Inc N C plans to double its wealth management assets in South Korea to around 6 billion by 2020 setting up new offices and investing in digital technology to attract new customers Asia has emerged as a key battleground for global wealth managers with higher economic growth rapid...
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Chinese tech giant Tencent signs 4 65 billion loan deal
By Carol Zhong and Sijia Jiang HONG KONG Reuters Chinese tech giant Tencent Holdings has signed a 4 65 billion loan deal Basis Point reported amid a flurry of fund raising by China s internet giants Tencent which had an original target of about 2 billion for the loan inked the deal on March 24 following comm...
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Abu Dhabi fund loses crisis related arbitration against Citigroup
By Nate Raymond Reuters Citigroup Inc N C has prevailed in the latest arbitration pursued by Abu Dhabi Investment Authority over the sovereign wealth fund s 7 5 billion investment in 2007 to shore up the then struggling bank during the subprime mortgage meltdown Abu Dhabi Investment Authority said on Wednesda...
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CFTC fines ex Citi traders for spoofing in Treasury futures
WASHINGTON Reuters The U S Commodity Futures Trading Commission CFTC said on Thursday it had settled charges against two former traders for Citigroup Global Markets Inc a unit of Citigroup Inc N C for spoofing in U S Treasury futures markets Under separate orders Stephen Gola agreed to pay a 350 000 c...
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X Marks the Spot But Not Until May
US Steel X traded 5 higher on Tuesday morning after Citigroup NYSE C upgraded the stock to Buy from Neutral Citi made two points The first is that steel prices have recently fallen 25 and the second is their forecast for higher steel prices As such Citi increased their price target on X from 43 to 46 Our...
JPM
Commodity Prices Remain Under Pressure
It has been a long week with some sharp moves followed by sideways trade action There has been little in the way of fundamental developments as the markets seems to be trading more on technical levels with just a smattering of data and news to either continue momentum or slow it considerably For example in the S an...
JPM
Dow Plummets More Than 530 Points
Was last week a preview of things to come There are quite a few people out there who believe that the stock market would begin to decline in July and that appears to be precisely what is happening Last week the Dow Jones Industrial Average fell by more than 530 points It was the biggest one week decline that we ha...
JPM
Bonus Idea August 3rd 2015 Wells Fargo
Here is your Bonus Idea with links to the full Top Ten Wells Fargo NYSE WFC has been around forever gobbling up smaller banks along the way But with each successive rebranding the the stagecoach continues to be the main symbol of the company Now Wells Fargo is the 6th largest bank in the world by assets and sec...
JPM
Taper Tantrum Coming
Investors have been expecting another Taper Tantrum when the Fed starts hiking The term Taper Tantrum refers to the surge in US treasury yields global government bond yields as well in summer of 2013 when then Fed Chairman Ben Bernanke put a spotlight on the wind down of Fed asset purchases tapering off QE I...
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Canadian software maker Shopify valued at 1 27 billion at IPO price
By Neha Dimri Reuters Canadian e commerce software maker Shopify Inc N SHOP TO SH said its U S initial public offering was priced at 17 per share valuing the company at about 1 27 billion The company s IPO of 7 7 million class A subordinate shares raised about 131 million after it was priced above the to...
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Canadian software maker Shopify valued at 2 billion in U S debut
By Neha Dimri Reuters Canadian e commerce software maker Shopify Inc s N SHOP TO SH shares rose as much as 69 percent in their U S debut valuing the company at about 2 14 billion Shopify which also debuted on the Toronto Stock Exchange on Thursday is the first Canadian company to be listed on a U S exc...
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Firmer underlying inflation keeps Fed on rate hike path
By Lucia Mutikani WASHINGTON Reuters Rising shelter and medical care costs boosted underlying U S inflation pressures in April a welcome sign for the Federal Reserve as it contemplates raising interest rates this year The Labor Department said on Friday its Consumer Price Index excluding food and energy increa...
JPM
Brazil signals record low rates with slower cuts ahead
By Silvio Cascione and Bruno Federowski BRASILIA Reuters Brazil s central bank slowed the pace of monetary easing on Wednesday but signaled it remained likely to cut interest rates to a record low next month as policymakers seek to boost an incipient economic recovery with inflation under control The bank s nine ...
JPM
Top China Macro Fund Shorts Commodities Debt on Inflation Risk
Bloomberg Accelerating Chinese inflation will derail a global rally in commodities and deepen a rout in the nation s bonds according to a top performing macro fund manager Lu Jun who manages about 1 6 billion at Shanghai Congrong Investment Management Co is shorting raw materials such as ferrous and chemical...
JPM
Mario Draghi s QE Infinity Is Reviving Europe Stock Bulls 2
Bloomberg It took a little help from Mario Draghi to stir European equities from their slumber The European Central Bank s slow approach to reducing monetary stimulus spurred the Euro Stoxx 50 Index s biggest rally since Sept 11 Before Thursday the gauge went virtually nowhere in October and correlation betwe...
JPM
Biggest Wealth Fund Selling Stocks as Rally Sends Prices Soaring
Bloomberg The stock market is rallying too fast for the world s biggest wealth fund Even though it raised its maximum allocation for stocks to 70 percent this year Norges Bank ended up paring its equity holdings in the third quarter as the surge in prices sent its stockpile of shares toward the self imposed limi...
JPM
Oil Near Two Year High as Investors Eye OPEC Deal Extension
Bloomberg Brent crude traded near a two year high as OPEC and Russia signaled they ll extend supply cuts while instability in Iraq s Kurdish region persists The global benchmark rose to as high as 61 a barrel and West Texas Intermediate held above 54 though both crudes pulled back from Monday s highs as they ...
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Lloyds two others dismissed from yen Libor litigation in U S
NEW YORK Reuters A U S judge on Friday dismissed Lloyds Banking Group Plc L LLOY ICAP LON NXGN Europe Ltd and Tullett Prebon Plc as defendants from litigation alleging a conspiracy among many financial services companies to manipulate the yen Libor and Euroyen Tibor benchmark interest rates U S District Jud...
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Exclusive Venezuela taps small banks to handle dollar deals
By Corina Pons and Ana Isabel Martinez CARACAS MEXICO CITY Reuters Venezuela s government is using little known banks including a small Puerto Rican lender as intermediaries for some international trade operations after Citigroup N C last year stopped providing such services according to the owner of one of ...
JPM
Silver Pretty Silver Ugly
The big picture in simple terms US national debt is huge ugly unpayable and accelerating higher Silver Eagles are pretty and are priced low Silver prices will increase erratically driven higher by a devalued dollar along with increasing debt Silver is currently at the low end of the silver to national debt rati...
JPM
IForex Daily July 15 2014
The dollar fell against most major currencies on Tuesday after data showing that U S retail sales unexpectedly fell last month raising speculation that the long awaited interest rate hike might be delayed further Retail sales fell 0 3 in June compared to expectations for a 0 2 increase adding pressure to the dolla...
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Oil falls below 65 on signs of U S shale oil revival
By Ron Bousso LONDON Reuters Oil slipped below 65 a barrel on Monday as signs that U S shale oil production was recovering after a recent price rally renewed concerns of a growing global supply glut China s latest move to bolster its economy offset some of the losses as it raised hopes that the world s top energ...
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Fitness software firm Mindbody files for IPO
Reuters Mindbody Inc a maker of software to help run fitness and yoga studios filed with U S regulators on Monday for an initial public offering of common stock Morgan Stanley NYSE MS Credit Suisse SIX CSGN and UBS Investment Bank are among the underwriters to IPO Mindbody said Founded in 1998 Mi...
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UK Sells More Shares In Lloyds Banking Group
By Britain s finance ministry said it had now raised more than 10 billion pounds 15 6 billion through the sale of more than half its shares in Lloyds Banking Group LONDON LLOY which was bailed out during the 2007 9 financial crisis The Treasury said on Tuesday that it had reduced its stake by a further 1 per...
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Castleton joins oil trade titans with Morgan Stanley deal
By Jonathan Leff NEW YORK Reuters Castleton Commodities International will buy Morgan Stanley NYSE MS s physical oil business the largest and oldest on Wall Street vaulting the Connecticut based merchant into the big leagues of global crude and fuel traders In a long awaited deal that appears to mark the end...
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No class action vs Morgan Stanley alleging Detroit predatory lending
By Jonathan Stempel and Nate Raymond NEW YORK Reuters A federal judge in Manhattan on Thursday refused to let thousands of Detroit homeowners sue Morgan Stanley NYSE MS as a group for allegedly pushing a subprime lender into making risky loans they could not afford U S District Judge Valerie Caproni said her ...
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Exclusive UK may extend trading plan to sell more Lloyds shares
By Matt Scuffham LONDON Reuters Britain is considering selling more shares in Lloyds Banking Group L LLOY by extending a trading facility beyond the current deadline at the end of June people with knowledge of the matter said Morgan Stanley N MS has sold a 5 percent stake in Lloyds since December through a ...
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Property management software maker AppFolio files for IPO
Reuters AppFolio Inc a maker of online property management software filed with U S regulators on Monday for an initial public offering of common stock Morgan Stanley NYSE MS Credit Suisse SIX CSGN Pacific Crest Securities and William Blair are underwriters to the IPO The California based company wh...
JPM
Play Nafta with puts on EWW JPMorgan
It s not exactly the most original idea but nevertheless JPMorgan NYSE JPM s Shawn Quigg suggests taking advantage of a multi year low in volatility by buying volatility specifically the Jan 2018 put struck at 51 on the iShares MSCI Mexico Capped ETF NYSEARCA EWW Priced in already The EWW is down more than ...
JPM
BOJ sees less to fret about low inflation policy on hold
By Leika Kihara TOKYO Reuters Japan s central bank is set to roughly maintain its price forecasts at its policy meeting next week and blame stagnant inflation on factors like corporate efforts to boost productivity signaling that it will hold off on expanding stimulus for the time being Bank of Japan Governor Har...
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DBS CEO sees wealth management business as key growth driver
By Marius Zaharia and Anshuman Daga SINGAPORE Reuters Singapore lender DBS Group is expanding its wealth management business and expects the segment will account for as much as a fifth of its revenues in a few years as it capitalizes on a trend of Asia growing richer its CEO Piyush Gupta said Southeast Asia s lar...
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Dollar gains as U S March rate hike seen more likely
By Karen Brettell NEW YORK Reuters The dollar gained to seven week highs against a basket of currencies on Thursday after hawkish comments by a Federal Reserve official late on Wednesday encouraged investors to expect a near term interest rate hike Fed Governor Lael Brainard said an improving global economy and a...
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Wall Street eases dollar up on March Fed rate hike bets
By Sinead Carew NEW YORK Reuters Wall Street fell as investors took a breather on Thursday after a record day while the dollar strengthened on positive U S data and growing expectations the Federal Reserve will raise interest rates this month Federal Reserve Governor Lael Brainard said late on Wednesday that an ...
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Citigroup sees 10 percent plus rise in quarterly markets revenue
NEW YORK Reuters Citigroup NYSE C expects first quarter trading revenue will be up by a low double digit percentage from a year earlier Chief Financial Officer John Gerspach said on Tuesday Gerspach speaking at an investor conference said markets revenue is doing well in both fixed income and equity tr...
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China s Tencent seeks 2 billion loan amid investment drive Basis Point
HONG KONG Reuters Chinese tech giant Tencent Holdings is in talks with banks to raise up to 2 billion in new debt funding Basis Point reported citing three people familiar with the financing plans amid a flurry of fund raising by China s internet giants Tencent is looking to raise a bullet loan with a five ye...
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All Eyes On Draghi Trump s Tariffs
ECB Meeting What to expect Following a two day Governing Council meeting the European Central Bank will give its policy decision on Thursday at 12 45 GMT Market participants will be paying particular attention to President Draghi s views on the eurozone economy and inflation expectations at his post meeting press co...
JPM
How To Punish Bank Felons
What exactly does it mean for a big Wall Street bank to plead guilty to a serious crime Right now practically nothing But it will if California s Santa Cruz County has any say First some background Five giant banks including Wall Street behemoths JPMorgan Chase NYSE JPM and Citicorp NYSE C recently pleade...
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Are HFTs Responsible For Low Market Volatility
I received a number of thoughtful responses from last post about falling equity volatility see Will the quants blow up the markets again One of the themes that was repeated several times in the comments pointed to HFT algos as a possible culprit for the low volatility regime On the surface the HFT explanation doe...
JPM
IForex Daily July 06 2014
Greek voters said no on Sunday declining further austerity measures and leaving European leaders to decide on whether the country will remain in the euro or not Sixty one percent of voters backed Prime Minister Alexis Tsipras s rejection of further spending cuts and tax increases in a referendum that s also taken t...
JPM
Gold And Silver Spot Prices Increasingly Detached from Reality
An insolvent Greece has defaulted On June 30th officials missed repayment of billions in lMF loans and declared a banking holiday Predictably many Greek citizens responded to the crisis and bought gold coins So did a lot of people here in the U S and around the world You just wouldn t know it by looking at spot ...
JPM
JPM Looks To Shatter Expectations
JPMorgan Chase Co NYSE JPM is set to report second quarter earnings Tuesday before the market opens The Estimize EPS consensus is set at 1 47 2 cents higher than Wall Street s expectations Revenue expectations of 24 6 billion also surpass the Street s expectations marginally These numbers would put both JPMo...
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Morgan Stanley renews U S oil storage deal ahead of trading unit sale
By Jarrett Renshaw NEW YORK Reuters Morgan Stanley NYSE MS s commodities group has renewed a refined product storage deal with TransMontaigne Partners L P seven months early as the Wall Street bank plans to sell its physical oil business In a statement on Wednesday TransMontaigne said Morgan Stanley Capital...
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Citi JPMorgan target market share gains in equities
By Lionel Laurent LONDON Reuters U S banks Citigroup NYSE C and JPMorgan Chase NYSE JPM expect to gain market share in equities this year executives told Reuters pointing to technology investment and new hires as financial market trading picks up The comments echo a more optimistic stance from trading des...
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Prepare for triple taper tantrum in 2016 says Morgan Stanley
By Jamie McGeever LONDON Reuters Investors spooked by the taper tantrum of 2013 when global markets took fright at the U S Federal Reserve s first hint that it might taper its monetary expansion policy take note 2016 could be the year of the triple taper tantrum That s the prediction of analysts at Morgan...
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Fit Bit files 100 million IPO with SEC
Investing com Fit Bit Inc a San Francisco based manufacturer of wireless enabled wearable devices known as activity trackers sent filings with the SEC on Thursday to declare its intention to become a publicly traded company Fit Bit whose number of paid active users soared from 600 000 in 2012 to 9 5 million in...
JPM
SEC names JPMorgan s Redfearn as director of trading markets
WASHINGTON Reuters The U S Securities and Exchange Commission said on Wednesday it had named JPMorgan Chase N JPM executive Brett Redfearn as director of the agency s trading and markets division The job is one of the last major positions new SEC Chairman Jay Clayton still had to fill The unit oversees securit...