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Economic Times (March 28)

2023/ 03/ 30 by jd in Global News

Regulators suspect a single “trade on Deutsche Bank AG’s credit default swaps… fuelled a global selloff on Friday.” The roughly £5 million bet was for swaps on the bank’s junior debt. Likely due to market illiquidity, along with market jitters, the “knock-on effect was a rout that sent banking stocks tumbling, government bonds higher and CDS prices for lenders soaring.”


Bloomberg (February 9)

2023/ 02/ 11 by jd in Global News

“Money managers have cut $300 billion of bearish bets and are now positioned more in line with historic norms — robbing the market of pent-up demand just as the Federal Reserve warns its inflation-fighting battle is far from over.”


CNN (October 19)

2022/ 10/ 20 by jd in Global News

Even with “Trussonomics… tossed out and a total market meltdown avoided, the near-term prospects for Britain’s economy look increasingly wobbly. A recession stretching through the winter looms. Policymakers were facing tough choices even before Truss unleashed financial market chaos. Now, with the government’s credibility tarnished, they’re in an even worse predicament.”


Bloomberg (October 12)

2022/ 10/ 13 by jd in Global News

“In a fresh sign of Japan’s dysfunctional bond market, the 10-year benchmark failed to trade for a third consecutive session Tuesday, the longest such streak since 1999.”


Market Insider (September 30)

2022/ 10/ 01 by jd in Global News

“Japan and Korea have dumped billions of dollars into the foreign exchange market to prop up” their currencies. Nevertheless, “the dollar has surged 26% against the yen and has risen 21% versus the won.” The yen and won are hardly unique. “Both developed and emerging market economies, have slumped against the dollar,” but both currencies “have also been hurt by trade deficit concerns” as their “economies are importers of oil.”


Institutional Investor (August 29)

2022/ 08/ 31 by jd in Global News

“Now that investors can get factor-based funds on the cheap, they’re pushing quants in new directions.” This presents new challenges. “One is a move away from a heavy reliance on decades of historical data and back tests to tying this in-depth research to the realities of the current economic and market environment.” Another challenge is “getting the right people” to do this. “Many quant managers historically hired people with expertise in data,” but “now it’s the background in economics and finance that’s become critical.”


Bloomberg (August 19)

2022/ 08/ 20 by jd in Global News

“The US mortgage industry is seeing its first lenders go out of business after a sudden spike in lending rates, and the wave of failures that’s coming could be the worst since the housing bubble burst about 15 years ago.” Though a “systemic meltdown” is not expected, market watchers still anticipate “a string of bankruptcies broad enough to trigger a spike in layoffs in an industry that employs hundreds of thousands of workers, and potentially an increase in some lending rates.”


The Street (July 22)

2022/ 07/ 24 by jd in Global News

“The cryptocurrency market has lost $2 trillion in value since hitting an all-time high of $3 trillion in early November, according to data firm CoinGecko. Prices for bitcoin, the king of cryptocurrencies, are down more than two-thirds since hitting an all-time high of $69,044.77 on November 10.”


Mansion Global (July 11)

2022/ 07/ 12 by jd in Global News

“The market has cooled since June, when the Federal Reserve raised interest rates 0.75% to help curb inflation.” Housing inventory is rising, “finally giving buyers some options and negotiability with sellers.” As a result, “nearly 15% of home contracts in the U.S. were canceled in June,” which had approximately 60,000 cancellations. That’s up 12.7% over May and 11.2% year on year.


Financial Times (June 29)

2022/ 07/ 01 by jd in Global News

Hong Kong elite are visiting Japan on posh tours to invest in Tokyo. Property brokers say the tours demonstrate “the appeal of the weak yen” and “the way in which the Tokyo market seemed immune from the recessionary worries swirling around other capitals.”


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