Yen Weakens as Stocks Rebound, But Dollar Fails to Capture after Weak Data
Overall, market sentiments stabilized today as started in Asian session. With the help of rebound in Asian and strengthen Europe, US stocks are set to open higher to pare some of yesterday’s steep losses. As a result, New Zealand and...
Dick Bove: The Fed is too tight and must reverse policy because this economy can’t handle it
The equity markets are under stress. By some measures stock prices today are lower than they were at the beginning of the year. To me, the reason for this is relatively clear. The financial system in the United States is...
Financial inclusion: Sandbox set up to help fintechs fix finance in rural Africa
Fintechs have helped make financial services available to people that banks have long struggled to reach, but this has come at a price. Default rates among digital borrowers in Tanzania, for example, have reached 31% and in Kenya 12%, according...
FX: Blockchain seen as the solution to enhanced post-trade efficiency
Few market participants would deny that most of the investment in electronic FX trading has been about winning the trade rather than settling it. Money has been spent on improving the post-trade element of the life cycle, acknowledges Frederic Ponzo,...
‘I’m a stubborn bull,’ Blackstone’s Joe Zidle sees Santa Claus rally rising from market wreckage
One of Wall Street’s biggest bulls predicts a sharp Santa Claus rally will revive the stock market, which has erased its gains for the year. According to Blackstone investment strategist Joe Zidle, a sentiment problem is behind the latest downturn...
US durable goods orders fall 4.4% in October
Orders to U.S. factories for big-ticket manufactured goods fell by the largest amount in 15 months with a key category that tracks business investment showing weakness for a third straight month. The Commerce Department said Wednesday that orders for durable...
US weekly jobless claims rise to a more than 4-month high
The number of Americans filing applications for jobless benefits rose to more than a four-month high last week, but the underlying trend remained consistent with a tightening labor market. Initial claims for state unemployment benefits increased 3,000 to a seasonally...
Goldman Sachs: Market plunge does not indicate a recession on the horizon
The U.S. economy will not head into a recession in the next two years despite fears in the market that one may be on the horizon, Goldman Sachs’ Peter Oppenheimer told CNBC on Wednesday. Oppenheimer, chief global equity strategist at...
Goldman Sachs downgraded by Morgan Stanley until Malaysian 1MDB scandal is ‘resolved’
Goldman Sachs’s stock won’t see meaningful gains until the Malaysian government investment fund scandal is resolved, according to Morgan Stanley, which downgraded its rival investment bank on Wednesday. “It is unclear how long the issue will take to resolve, what...
A $9 trillion corporate debt bomb is ‘bubbling’ in the US economy
At first glance, it looks like a $9 trillion time bomb is ready to detonate, a corporate debt load that has escalated thanks to easy borrowing terms and a seemingly endless thirst from investors. On Wall Street, though, hopes are...
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