Goldman Sachs makes first hire in cryptocurrency markets unit
Goldman Sachs is getting more serious about finding ways for its clients to invest in cryptocurrencies. The Wall Street giant enlisted Justin Schmidt, a former trader, to be the first head of digital asset markets in Goldman’s securities division. Schmidt...
Amazon wouldn’t have happened if it weren’t for Bernie Madoff
Amazon.com might never have happened without Bernard L. Madoff. Jeff Bezos once worked at D.E. Shaw, the quantitative hedge fund. But he quit in the early 1990s to open the online bookstore that would make him famous. According to an...
China does not have to ask anyone for respect, Ghana’s president says
Ghanian President Nana Akufo-Addo pinpointed China’s development story Saturday in a speech that promoted intra-African economic co-operation. “China does not ask anyone for respect now,” he said, referring to foreign students’ enthusiasm for learning Mandarin as evidence of Beijing’s influence....
US existing home sales post 2-month growth streak in March, but remain below year-ago levels
U.S. sales of existing homes increased 1.1 percent on a monthly basis in March, which suggests that buyers are undeterred by the dwindling number of properties available on the market. The National Association of Realtors said Monday that homes sold...
Chances of a fourth rate hike this year just took a big jump higher
The market is finally coming around to the idea that the Federal Reserve this year will be raising interest rates a total of four times. Though some big forecasting firms on Wall Street for months have been predicting a more...
Dollar Marches on as 10 Year Yield Presses 3%
Dollar’s broad based rally extends today with the support of surging US treasury yield. 10 year yield hit as high as 2.99% in premarket, and is flirting with 3% level. Meanwhile, Japanese yen are trading as the weakest one. Euro...
The 10-year Treasury yield could be about to hit 3 percent — here’s why this matters
All eyes are on the U.S. 10-year Treasury yield on Monday as it could imminently hit the 3 percent threshold — a level deemed particularly worrying by investors. “The 3 percent level is a big psychological point for investors and...
Banking: Australia demands change
Three weeks ago Australia’s new bank startup Xinja became the first financial institution in Asia Pacific to raise equity through crowdfunding. The amounts raised were not earth-shattering – just under A$2.5 million from 1,222 investors putting in as little as...
Quiet Start to a Week of Guaranteed Volatility, on Yields, Central Banks, Data and Politics
The financial markets are pretty quiet as another week starts. Despite positive news regarding Korean peninsula, major Asian indices are trading slightly lower. At the time of writing, Nikkei is down -0.28%, HK HSI is down -0.66%. In the currency...
Dollar Dominated the Markets as Treasury Yields Could be Reversal Multi-Decade Down Trend
Dollar ended broadly higher last week as boosted by surge in treasury yields. 10 year yield finally completed its consolidation that started back in February, and rose through 2.943 high to close strongly at 2.951. That came with the background...
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