Wall Street’s bets against the tech sector reach their highest level in a year
Wall Street is growing less confident in the technology sector and continues to be negative on retailers, according to the latest data on short selling. Across the 11 S&P 500 sectors, five saw increases in the amount of available shares...
Customer expectations drive back-office change
The use of out-of-date back-office software has been a problem for banks for some time, as aging systems have left them vulnerable to data breaches or system failures. But there is now an additional issue emerging as front-end technology risks...
Cryptocurrency eos leaps past litecoin into fifth place by market cap
A cryptocurrency with ties to former hedge-fund manager Michael Novogratz has surged past litecoin into fifth place by market capitalization. CoinMarketCap data showed eos climbed more than 30 percent over the last 24 hours for a market capitalization of nearly...
Iran’s currency crisis could bring it one step closer to economic collapse
Iran’s currency, the rial, has plummeted to a record low amid growing economic and political uncertainty, causing a rush to the banks as Iranians desperately try to acquire U.S. dollars with exchanges forced to shut their doors to prevent long...
LTRO: Why the ECB should make every day Christmas
Recent discussion on whether the European Central Bank should extend its long-term refinancing operations (LTRO) in 2019 has revolved largely around which banks should be able to use it. Last time, LTRO targeted banks contributing to the economy. This time,...
US import prices unchanged on weak petroleum
U.S. import prices were unexpectedly flat in March as a drop in the cost of petroleum products was offset by increases in the prices of food and a range of other goods. The Labor Department said on Thursday last month’s...
US weekly jobless claims continue to fall as labor market tightens
New applications for U.S. unemployment benefits fell last week, pointing to sustained labor market strength despite a sharp slowdown in job growth in March. Initial claims for state unemployment benefits dropped 9,000 to a seasonally adjusted 233,000 for the week...
Bank funding market: Pimco’s pricing power
When Italian lender UniCredit sold an entire €3 billion five-year senior non-preferred bond with a 7.83% coupon to US investment management firm Pimco in late November it was a demonstration of far more than the brutal impact that the country’s...
Bitcoin surges 17% in sudden move to above $8,000, then loses some ground
Bitcoin surged Thursday more than 17 percent in a sudden move to above $8,000 at one point, according to trading on Coinbase. The cryptocurrency hit a high of $8,011 on Coinbase. Trading was volatile and bitcoin was about 11.5 percent...
Trump tweets again on Syria, saying attack could be ‘very soon or not so soon at all’
President Donald Trump said Thursday that a U.S. missile strike on Syria may not be imminent. “Never said when an attack on Syria would take place. Could be very soon or not so soon at all! In any event, the...
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