The Financial Times – Yellen says Fed might turn to QE in another downturn Trump eyes new leadership that is more dubious about crisis-era stimulus tools Janet Yellen, the Federal Reserve chair, has warned that there is an “uncomfortably high” risk that the central bank will have to deploy crisis-era stimulus tools again — even in… Continue reading Don’t Give Up On QE Just Yet
CNN/Money – Meet the bears predicting stock market doom It’s a lonely time to be a bear. As Wall Street recalls the 30th anniversary of Black Monday, the bulls have taken full control of the stock market. The bull market born from the ashes of the Great Recession has kicked into high gear lately. The Dow has spiked nearly… Continue reading Doom & Gloom
Reuters – Bitcoin soars to record high above $6,000 Bitcoin surged to a record high of more than $6,000 on Friday, pushing its market capitalization to $100 billion at one point, as investors continued to bet on an asset that has a limited supply and has paved the way for a whole slew of crypto-currencies.
The Financial Times – AI offers clues to hawks and doves circling the Fed Algorithms work through speeches, papers and interviews by contenders for the top job Parsing the positions of the candidates linked to the Federal Reserve chair can be tricky but a sentiment analysis of more than 600 speeches, papers and interviews offers… Continue reading Dissecting Fed Speeches and Media Reaction
Bloomberg Markets – Trump leaning toward Powell for Fed chair, officials say Powell has been heavily favored by Treasury Secretary Steven Mnuchin, who is leading the search. Federal Reserve Governor Jerome Powell is the leading candidate to become the chair of the U.S. central bank after President Donald Trump concluded a series of meetings with five… Continue reading The Race For Fed Chair
The Wall Street Journal – How High Could Rates Go if John Taylor Becomes Fed Chairman? Under the 1993 ‘Taylor rule,’ the Fed’s benchmark rate would be over a percentage point higher than where it is now Stanford University professor John Taylor, a contender to become the next Federal Reserve chairman, has repeatedly criticized the central… Continue reading The Taylor Rule And John Taylor As Fed Chair
Bloomberg Markets – Wall Street’s Robots Still Have a Lot to Learn About Being a Human Trader Bad data and other obstacles abound on road to erasing jobs Back in the 1990s, Paul Tudor Jones assigned a team of coders to a project dubbed “Paul in a Box.” The effort sought to break down the DNA… Continue reading Robots Still Have A lot To Learn Before Taking Over Most Wall Street Jobs
Business Insider – The world’s hottest investment product may eventually cause a massive exodus from stocks The ETF market has exploded in size over the past 10 years. The ETF market has experienced astounding growth over the last decade. There are now 5,000 ETFs traded globally with over $3.5 trillion in assets, a more than threefold increase… Continue reading Side Effects Caused By The Massive Inflows Into ETFs
Bloomberg Markets – Global Investors Brace for a Cruel New World of Feeble Returns High valuations to crimp future gains below historic average Investors worldwide face a grim dawn of low returns across debt and equity markets as early as next year, with rich valuations and feeble growth seen pushing gains below historic norms. That’s the… Continue reading Investors Bearish On Market Returns
CNBC – Bitcoin is heading to $10,000, CNBC survey says The price of bitcoin could be heading to over $10,000, nearly half of respondents to a CNBC survey said The price of bitcoin could be heading to over $10,000, nearly half of respondents to a CNBC survey said. During the week, CNBC ran an unscientific survey online asking:… Continue reading Most People Think Bitcoin Is Going To $10,000
The Financial Times – China central bank chief warns of ‘Minsky moment’ Risk of excessive optimism as China reports strong headline GDP growth China’s central bank governor has warned in unusually stark language of the risks from excessive debt and speculative investment, as he used the Communist party congress to caution that the country’s fast-growing economy faced… Continue reading A Minsky Moment In China?