It is with sadness I read that one more J.P. Morgan banker died.
One thing is that Ryan was the head at the program trading desk. Meaning he over saw all of the trades and was familiar with all of the software (trade platforms) that these trades were done in. This job works closely with guess what? That’s right the London desk and who died last week in London? The one who jumped off the 33rd floor. What was his post? Head of IT and trade platforms meaning he had access to info that Ryan would have.
They knew each other and uncovered something they were about the same age and these hits happen when two big announcements by JPM. One they are out of commodities and two the wholesale selling of their HQ downtown.
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Europe’s largest banks are finally putting hundreds of billions of dollars of unwanted assets up for sale amid mounting competition among buyers and regulatory pressure. A wave of deals could be a boon to the region’s economy if the banks free up capital to increase lending. Banks led by London-based Barclays…
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George Soros is 84 today. His career is remarkable both for its longevity and its returns – his Quantum fund has generated $39.6 billion in profits over the last four decades, making Soros the most successful hedge fund manager in history. How has Soros managed to stay at the top for so long?…
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When we wait for ECB and BOE we get this news : BANK OF GHANA RAISES BENCHMARK RATE BY 200BPS TO 18%
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Imagine Fed Governor Rip van Winkle started his nap at the beginning of 2007 and just woke up to find that inflation is close to the Fed’s objective and the unemployment rate is at its 30-year average. You could forgive him for expecting the federal funds rate to be close…
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The dollar is stronger today following the slightly hawkish stance of the FOMC Minutes, which hinted at the potential for an earlier-than-expected hike in interest rates. Nothing is likely to happen any time soon though, and equities liked that idea in continuing their positive trend, with the S+P regaining its…
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Janet Yellen made her first public comments as Federal Reserve Chair in a grueling, nearly day-long, testimony to the House Financial Services Committee. Her testimony made clear that we should expect a high degree of policy continuity. Indeed, she said so explicitly. The taper is still on, but so too is the expectation of near-zero interest rates into 2015. Data will need to get a lot more interesting in one direction or the other for the Fed to alter from its current path.
http://economistsview.typepad.com/timduy/2014/02/yellens-debut-as-chair.html
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Federal Reserve Chairwoman Janet Yellen on Wednesday said interest-rate increases could begin in the first half of 2015, around six months after it winds down its bond-buying program. The Fed, in its policy statement, said the benchmark federal-funds rate will remain near zero for a "considerable time" after its signature…
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Janet Yellen led her first monetary policy meeting as chair last week. But with Yellen’s emphasis so far on consensus and continuity, the key news from the Fed last week wasn’t anything Janet Yellen said, but what Federal Reserve Board Governor Jeremy Stein said at the International Research Forum on…
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Here’s what to look for when Janet Yellen testifies before the House Financial Services Committee today in her first public remarks since becoming Federal Reserve chairman on Feb. 3. Yellen’s prepared remarks will be released at 8:30 a.m., and the hearing will begin at 10 a.m. Yellen plans to speak…
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This past week marked the annual gathering of bankers, financial officials, and other economic experts hosted by the Kansas City Federal Reserve Bank in Jackson Hole, Wyoming. On Friday, Fed Chair Janet Yellen and European Central Bank head Mario Draghi both spoke; in a slow week for the markets, these…
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U.S. Treasury yields and other interest rates increased in the months leading up to the Federal Reserve’s December 2013 decision to cut back its large-scale bond purchases. This increase in rates probably at least partly reflected changes in what bond investors expected regarding future monetary policy. Recent research on this…
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The singling out of three debt types most at risk by the People’s Bank of China has prompted Nomura Holdings Inc. to warn that rising borrowing costs will make it even harder to avoid a default by these issuers.
The PBOC will enhance monitoring of local government financing vehicles, industries with overcapacity and property developers to prevent default risks from spreading, according to its fourth-quarter policy report issued on Feb. 8. Jinzhou Economic Technology Zone Development Group Co., an LGFV in Liaoning province, sold new seven-year bonds at 9.1 percent in January, while Guangxi Nonferrous Metal Group Co. issued nine-month bills at 8.5 percent. That’s almost twice as high as the yield on 2021 government debt.
http://www.bloomberg.com
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China's banks disbursed the most loans in any month in four years in January, a surge that suggests the world's second-biggest economy may not be cooling as much as some fear. Chinese banks lent 1.32 trillion yuan ($217.6 billion) worth of new yuan loans in January, beating a 1.1 trillion…
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The People’s Republic of China’s (PRC) economy has shown signs of overheating despite a sharp slowdown in economic growth, suggesting that, constrained by the supply of labor, its potential growth rate might have fallen significantly from its past level. With the priorities of the PRC’s authorities shifting from raising economic growth…
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The yuan has recently been something of a safe haven among emerging-market currencies, yet market participants have learned from a bloody lesson over the past week that it is no longer an easy, one-way bet. A sharp fall of both the onshore and offshore yuan against the greenback made the…
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Shanghai's over-the-counter equity market was almost deserted on a weekday morning last week. Two cleaning ladies swept the floor of a trading hall devoid of brokers or computers, while a woman at an information desk ate breakfast and talked on her mobile phone. During four visits this year to the…
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The global financial crisis did not start in 2008 but in 2007 when BNP Paribas and UBS AG suspended withdrawals from some of their funds. If the world is once again buffeted by a similar crisis thanks to the enormous splurge in Chinese lending and fears about the quality of…
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Japanese Prime Minister Shinzo Abe said on Wednesday it was up to the central bank to decide on specific monetary policy means to ensure its 2 percent inflation target will be achieved.
“The Bank of Japan has said it will take necessary adjustments taking into account upside and downside risks to the economy and prices. I expect the central bank to take appropriate action,” Abe told parliament.
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So, the governor of the Bank of England, Mark Carney, is filling his fountain pen, and looking for a stamp. Now that inflation has fallen to 0.5% on the Consumer Prices Index (CPI) measure, he's got to write a letter to the chancellor, explaining why inflation has missed the Bank's…
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(Source http://www.independent.co.uk/news/business/comment/david-blanchflower/david-blanchflower-we-should-fear-deflation--not-welcome-it-9986726.html ) The UK isn’t in deflation yet. While central bankers know what to do about stopping inflation, they don’t know what to do about halting deflation. The Swiss National Bank last week abandoned its attempt to defend a currency floor, which caused a sharp appreciation in its currency, which…
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Press conference following the meeting of the Governing Council of the European Central Bank on 4 September 2014 at its premises in Frankfurt am Main, Germany, starting at 2:30 p.m. CET: Introductory statement by Mario Draghi, President of the ECB. Question and answer session. Registered journalists pose questions to Mario Draghi, President…
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The Swiss National Bank's foreign exchange reserves inched higher in August, data showed on Friday. The SNB held 453.799 billion Swiss francs in foreign currency at the end of August, compared with 453.353 in July, revised from an originally reported 453.391 billion, preliminary data calculated according to the standards of…
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http://www.teslamotors.com/sites/default/files/blog_attachments/gigafactory.pdf
Tags: economy
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