A crypto derivatives exchange has received a clean bill of health from the same software tester that vets the trading and settlement systems used by the London Stock Exchange (LSE). ZUBR, which only opened for trading in early March, said its trading software had been successfully stress-tested by Exactpro. The exchange’s high-frequency trading feature, risk management protocols and trading engine met requirements set by the software […]
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One would think that on the day the US reported 3.3 million (!) initial jobless claims, more than 5 times the weekly peak hit during the financial crisis, and a 30-sigma event… weekly jobless claims, a 30σ event pic.twitter.com/LEO7s5TXsH — 📈 𝙻𝚎𝚗 𝙺𝚒𝚎𝚏𝚎𝚛 📊 (@lenkiefer) March 26, 2020 … one which presages not a recession but an economic depression, stocks would be lower. One would be […]
Jeff Bezos and other corporate executives across the country sold approximately $9.2 billion in shares of their own companies between early February and the end of last week, salvaging potential losses of up to $1.9 billion, according to an analysis of more than 4,000 regulatory filings by the Wall Street Journal. The largest seller was the richest man in the world – Jeff Bezos, who sold […]
Over the weekend we showed something striking: as market crashed, quant and various other systematic funds were unwinding their positions at the fastest rate in history. Starting with CTAs… … which are now very short stocks and long the dollar… … continuing with risk-parity… … the vol control… … the systematic unwind was simply unprecedented, and far beyond the selling observed in the discretionary community. Of […]
Dow futures have fallen back below 20,000, although still up dramatically on the day, as yesterday’s hopes that Italy had turned a corner in its virus-death-count are dashed after they reported 743 deaths overnight – the second worst count since the outbreak began. New Cases re-accelerated… And deaths re-surge to their second worst day of the outbreak… Stocks faded (as Italy dashed the optimism of a […]
Business 13:46 GMT 24.03.2020(updated 13:56 GMT 24.03.2020) Get short URL This comes after high-ranking US Senate and White House officials appeared set to reach a $2 trillion deal to rescue the American economy from the crisis caused by the coronavirus outbreak. US stocks were up as much as 7 percent in Tuesday’s early trading, with the Dow Jones Industrial Average index rising more than 1,300 points […]
SoftBank’s shift from long-term ‘vision’ to short-term ‘survival’ is now complete. After the infamous string of blowups that hammered both SoftBank’s private investments as well as its $100 billion ‘Vision Fund’, which consisted mostly of money from the Saudis and Abu Dhabi most notoriously the collapse of the WeWork IPO as the unicorn’s valuation evaporated, triggering the ouster of its founder-CEO, a string of other executives, […]
Congressman Matt Gaetz (R- FL) called out a double standard Monday with respect to former colleague Katie Hill and Senate Intel Chairman Richard Burr. Gaetz tweeted, “@KatieHill4CA gets run out of Congress for screwing a campaign staffer absent any complaint. @SenatorBurr stays as Intelligence Chairman after screwing all Americans by falsely reassuring us w opeds on #COVID while he dumped his stock portfolio early. This is […]
Just a few weeks ago everything seemed completely normal to most people, but now fear of the coronavirus has caused U.S. stock prices to absolutely implode. The stock market crash of 2020 will forever be mentioned alongside the crashes of 1929, 1987 and 2008, and by the time it is over it could potentially end up being the largest of them all. Close to a third […]
On Friday night, Trevor Noah broadcast the third episode of The Daily Show—now known as The Daily Social Distancing Show—under self-quarantine from his living room couch. “It’s now Day 8 of being locked in the house, aka ‘social distancing,’” offered Noah. “On today’s episode, we’re gonna catch up on the latest news.” One of the biggest stories of alleged corruption that’s emerged during the novel coronavirus […]
Fox News’ Tucker Carlson last night went on a tear against Senator Richard Burr over his massive stock dump and tonight confronted another senator under scrutiny for the same, Senator Kelly Loeffler. Loeffler has insisted she was not involved in the decision-making. When Carlson directly asked her “who specifically made that decision for you and on what basis,” she said it was “financial advisors that are […]
On Jan. 21, senators gathered in their chamber on Capitol Hill to formally begin the impeachment trial for President Donald Trump. For hours on end, they were unable to leave their seats let alone check their electronic devices or speak with staff. Consumed with listening to hours-long arguments, they paid little attention to much else other than the trial. Then, three days later, in a private […]
During a Covid-19 press conference on Friday, President Donald Trump defended the Senators who dumped stocks in January, after a briefing on the coronavirus. Former White House Press Secretary Sean Spicer asked the president, “are you concerned about members of congress that may have used information they learned on updates to sell stocks and profits of this?” “I saw some names, I know all of them. I know everyone […]
Hours after a report spelling out how she profited off of a series of stock sales and purchases prior to the market crash, Sen. Kelly Loeffler (R-GA) is defending her actions — essentially by stating that they weren’t her actions, but rather those of third-party advisors. Amid the public outcry over the transactions, Loeffler appeared on Fox’s America’s Newsroom Friday in an effort to quiet the […]
SAUL LOEB/AFP Three more Senators reportedly sold significant shares in their personal stock portfolio shortly after receiving classified into about the ill effects of then looming coronavirus pandemic. Republican Senators Ron Johnson, James Inhofe, and Democratic Senator Diane Feinstein all reportedly dumped stocks after being briefed about COVID-19 in a late January Senate Intelligence Committee meeting. On Thursday, ProPublica reported that Senator Richard Burr sold up […]
Fox News‘s Tucker Carlson had some serious words for Sen. Richard Burr (R-NC), who sold off a significant percentage of his stocks on February 13 – raising between $628,000 and $1.72 million in 33 separate transactions. Carlson noted Burr sold “more than a million dollars in stock in mid-February after learning how devastating the Chinese coronavirus could be. “He had inside information about what could happen […]
A new report indicates that Senate Intel Committee chairman Richard Burr (R-NC) was not the only member of Congress who dumped a large portion of their stock portfolio before the coronavirus sent the market into a nosedive. The Daily Beast reports that Sen. Kelly Loeffler (R-GA) — who is married to Jeffrey Sprecher, chairman of the New York Stock Exchange and CEO of the business services […]
Fox News host Tucker Carlson ended his program Thursday night by calling for Sen. Richard Burr (R-NC) to resign and face prosecution for insider trading if he can’t provide “an honest explanation” for dumping over $1 million of stock after he discovered the severity of the looming coronavirus pandemic. Shortly before Carlson went to air Thursday night, ProPublica reported that after the Senate Intelligence Committee that […]
There has been outrage across the political spectrum over a shocking report that Senate Intelligence chair Richard Burr (R-NC) dumped as much as $1.7 million in stock just before the market tanked, despite publicly maintaining that the government was on top of the coronavirus. Thursday night on Fox News, Tucker Carlson completely tore into the senator from the Tar Heel state. In a scathing end-of-show commentary, […]
Global stock and bond markets have seen $25 trillion of ‘paper’ wealth erased in the last month, wiping out all the gains from the Dec 2018 crash lows…. Source: Bloomberg Global bonds are actually still up around $5 trillion while global stocks have lost around $5 trillion since the Dec 2018 lows, and a lot of those losses come from the US markets where the median […]
Stocks fell in Japan, Hong Kong, Shanghai, and South Korea after opening on Thursday morning, following the recent massive stimulus plan announced by the European Central Bank (ECB) to support the economy. Major Asian stock markets have continued to suffer declines after opening on Thursday morning. Japan’s Nikkei Share Average dropped from its all-time high, despite previous gains. For those who think that “stocks always come […]
19 Mar, 2020 02:18 The Philippines’ major stock index, the PSE Composite, has seen a huge rout, falling by 24 percent soon after trading opened. The slide comes after markets were shuttered for two days as Covid-19 takes a toll on the world economy. Source
Spencer Platt/Getty Images The New York Stock Exchange (NYSE) will temporarily close its doors and switch to electronic-only trading in response to the coronavirus crisis. According to CNBC, the NYSE “will temporarily close its historic trading floor and move fully to electronic trading after two people tested positive for coronavirus infection at screenings it had set up this week.” BREAKING: The New York Stock Exchange will […]
The New York Stock Exchange (NYSE) will shut down its trading floor and temporarily switch to electronic transactions after several traders were confirmed to carry the coronavirus. Starting next Monday, all exchanges will be managed electronically, but markets will continue to operate along normal trading hours, the exchange said. “While we are taking the precautionary step of closing the trading floors, we continue to firmly believe […]