(Bloomberg) — Treasury Secretary Janet Yellen cited concerns about the potential for a breakdown in trading of US Treasuries, as her department leads an effort to shore up that crucial market.
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“We are worried about a loss of adequate liquidity in the market,” Yellen said Wednesday in answering questions following a speech in Washington. The balance-sheet capacity of broker-dealers to engage in Treasuries market-making hasn’t expanded much, while the overall supply of Treasuries has climbed, she noted.
Treasury debt outstanding has climbed by about $7 trillion since the end of 2019. But big financial institutions haven’t been as willing to serve as market-makers, burdened by the so-called supplementary leverage ratio, or SLR, which requires that capital be put against such activity, as well as against reserve holdings.
Yellen noted that the Federal Reserve now has a standing repurchase facility to provide a liquidity backstop to the Treasuries market; that “can be helpful,” she said. She also said that the so-called Group of 30 panel has presented some “good ideas” on reforms that would help strengthen the market, including the possible expansion of central clearing.
Read More: Geithner-Led Group Faults Fed for Slow Work on Treasuries Market
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(Bloomberg) — Zambian Finance Minister Situmbeko Musokotwane has urged other African nations considering using the Group of 20’s Common Framework mechanism to restructure unaffordable debt to act quickly. Most Read from BloombergIntel Is Planning Thousands of Job Cuts in Face of PC SlumpHere’s How Weird Things Are Getting in the Housing MarketPutin Says All Infrastructure at Risk After Nord Stream HitAlex Jones Must Pay $965 Million for His Sandy Hook LiesUS Core Inflation Seen Returning to 40-
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You have just a few weeks to pounce on Treasury I bonds’ sky-high interest rate. Also called Series I savings bonds, their interest rate is 9.62%.
(Bloomberg) — At first blush, Bitcoin becoming less volatile than stocks might appear like a positive development. But crypto traders are warning that in a low-volume environment, that might not be a great thing. Most Read from BloombergIntel Is Planning Thousands of Job Cuts in Face of PC SlumpHere’s How Weird Things Are Getting in the Housing MarketPutin Says All Infrastructure at Risk After Nord Stream HitAlex Jones Must Pay $965 Million for His Sandy Hook LiesUS Core Inflation Seen Returnin
Ray Dalio, the billionaire investor who built Bridgewater Associates into one of the world’s biggest hedge funds, said a “perfect storm” is forming that will spread economic pain as the U.S. Federal Reserve raises interest rates. “I don’t know whether that’s 4.5% or the economy could not take an interest rate much higher than that before it’s going to be negative.”
(Bloomberg) — Credit Suisse Group AG shares slumped after news that US authorities are investigating whether the bank helped clients hide assets. Most Read from BloombergHere’s How Weird Things Are Getting in the Housing MarketIntel Is Planning Thousands of Job Cuts in Face of PC SlumpUS Core Inflation Seen Returning to 40-Year High as Rents RiseA First Look at the Ritz-Carlton Superyacht: PhotosHome Flippers Get Burned by US Housing Market’s Sudden SlumpShares dropped as much as 5% in Zurich,
(Bloomberg) — The Federal Reserve is doing the right thing by raising interest rates to tackle hot inflation, even as this strengthens the dollar and has spillover effects for other nations, South Africa’s central bank chief said. Most Read from BloombergIntel Is Planning Thousands of Job Cuts in Face of PC SlumpHere’s How Weird Things Are Getting in the Housing MarketPutin Says All Infrastructure at Risk After Nord Stream HitAlex Jones Must Pay $965 Million for His Sandy Hook LiesUS Core Infla
World markets are unlikely to catch a break until central banks see some convincing progress on reining in inflation – and Thursday is a huge moment in that fight despite myriad tensions elsewhere. Headline U.S. consumer price inflation is expected to have slipped back two tenths of a percentage point to a still-bruising 8.1% in September as the Labor Department gets set to publish its latest report. But it was creeping annual growth in August of underlying “core” prices that exclude energy and food that sent markets into tailspin last month – fearing, correctly, that it would push Federal Reserve hawkishness into overdrive.
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Shares of Moderna surged more than 11% on Wednesday after the biotech company [announced](https://investors.modernatx.com/news/news-details/2022/Merck-and-Moderna-Announce-Exercise-of-Option-by-Merck-for-Joint-Development-and-Commercialization-of-Investigational-Personalized-Cancer-Vaccine/default.aspx) it would develop and sell a personalized cancer vaccine with Merck. The stock was the biggest gainer on the S 500 around midday. Shares of Merck were little changed. Merck will pay Moderna $250 m
‘There Are Signs That a Market Bottom Is in Sight’: Oppenheimer Likes These 2 Stocks for a Comeback Rally
The big question: Has the market hit a bottom yet? Well, according to Oppenheimer’s Head of Technical Analysis Ari Wald, there are signs one is forming, the most notable of which is that the Russell 2000 index – the barometer for small-cap stocks – “held to the June lows in the most recent late Q3 move to the downside.” Wald also notes that the signal of a market top is when the S&P 500 makes a “higher high, and small caps make a lower high,” and we are currently seeing the opposite scenario pla
The benchmark S&P 500, which is typically viewed as the most encompassing barometer of stock market health, delivered its worst first-half return since Richard Nixon was president. The Dow Jones Industrial Average and Nasdaq Composite haven’t fared any better, with both indexes mired in a bear market. A “stock split” is a mechanism that allows a publicly traded company to alter its share price and outstanding share count without affecting its market cap or operations.
Ray Dalio Says There’s a ‘Perfect Storm’ Brewing; Here Are 2 High-Yield Dividend Stocks to Protect Your Portfolio
The headwinds have piled up for the US economy, and today’s producer price index, coming in well above the forecasts, was just the latest blow. As the PPI reminds us, inflation is stubbornly high, and compounding on last year’s elevated numbers. In addition, we’re facing a 1H GDP contraction, a nosedive in consumer confidence, shaky supplies chains, and the Federal Reserve’s rapid shift to hiking interest rates. And all of that may just be the tip of the iceberg. Billionaire investor Ray Dalio s
If you bought $1,000 worth of AMC Entertainment Holdings (NYSE: AMC) stock at its all-time high of $62 in June 2021, you would have roughly $100 today — a decline of 90%. While the movie theater operator seems to be recovering nicely from the COVID-19 pandemic in 2020 and 2021, massive levels of equity dilution could leave investors holding the bag. At the height of the crisis in 2020, AMC’s revenue collapsed by 77% to $1.24 billion against the prior year, and it lost $4.59 billion.
Cannabis stocks have been on fire of late as hopes surrounding marijuana reform in the U.S. have put them back into the spotlight. Tilray is a top cannabis company in Canada, with sales totaling $613.6 million over the trailing 12 months. Although the company is technically still incurring net losses, Tilray is known for being one of the more profitable businesses in the industry, achieving adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) profitability for 14 straight quarters.
In this article, we shall discuss the top 12 picks in Carl Icahn’s stock portfolio. To skip our detailed analysis of Icahn’s history, his investment strategy, and hedge fund performance, go directly and see Carl Icahn Stock Portfolio: Top 5 Picks. Carl Icahn is an American financier and currently serves as the Chief Executive Officer […]