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Daily Scan: Looming IPOs spook China investors; ongoing terror threats inspire caution
Capital Markets
Updated throughout the day November 18, 2015 Asian markets remained cautious today as the continuing terror crisis grips Europe. China investors are also worried that an upcoming backlog of initial public offerings could soon divert liquidity from the market. China’s Shanghai Composite index was down 1.01%, while Hong Kong’s Hang Seng index was down 0.34%. Japan's Nikkei 225, however, was…
Citigroup firing decision sets a precedent
Capital Markets
A former Citigroup currencies trader won his case for unfair dismissal on Tuesday. A London employment tribunal decided that Perry Stimpson was unfairly dismissed by the U.S. bank last year when it was mired in a forex scandal. Part of the tribunal's reasoning is peculiar: it seems to conclude that Stimpson shouldn't have been sacked because he was behaving no differently from his…
US Treasurys? Follow the money (out)
Capital Markets
There really is no need to agonize over those Delphic utterances by Fed officials. Investors paralyzed by trying to second-guess interest rate policy just have to follow the big money: "The top buyers of U.S. government debt are shedding their holdings at the fastest pace in months," reports The Wall Street Journal (paywall). "China, the largest foreign holder of U.S. Treasurys,…
Shhh! Goldman is holding a conference with its favorite startups
Capital Markets
Goldman Sachs is hosting its annual by-invitation-only startup conference in Las Vegas at the Bellagio on Tuesday and Wednesday, reports ReCode. Goldman Sachs is a bit of an also-ran in Silicon Valley. This conference is its stab at gaining street cred. And the companies that present are usually their faves or firms they would like to be clients, says ReCode.…
Daily Scan: Stocks fall flat; Germany ends soccer game after bomb threat
Capital Markets
Updated throughout the day November 17, 2015 U.S. stocks ended the day flat after an initial boost early on. Wal-Mart's earnings beat expectations, sending its shares up 3.5% Tuesday. The U.S. Consumer Price Index rose 0.2% in October, as expected. But industrial production fell 0.2% in October, after expectations it would remain flat. The meeting minutes from the Federal Reserve's October…
Overheard on Twitter: Where all this M&A activity is leading us
Capital Markets
From Dealogic: US targeted M&A volume has reached $2.03tr in 2015 YTD, up 55% from $1.31tr announced in 2014 YTD. This marks the first time on record any country has passed $2tr in targeted M&A volume in a calendar year To which, Twitter responds: @firstadopter named Berkshire Hathaway — Bob Brinker (@BobBrinker) November 17, 2015 Photo: thetaxhaven 
Daily Scan: Asia ends on a high; Auto sector helps drive up Euro markets
Capital Markets
Updated throughout the day November 17, 2015 Asian markets continued to soar until the final bell Tuesday, wiping out most of the losses from Monday when investors overestimated the market impact of Friday’s terror attacks in Paris. Hong Kong’s Hang Seng Index and Australia's S&P/ASX 200 rose 1.2% and 2.3%, respectively, while Japan’s Nikkei Stock Average rose 1.2% on the…
The next financial crisis -- how good rules go bad
Capital Markets
Karen Shaw Petrou’s Federalist Society speech titled, “The Next Financial Crisis – How Good Rules Go Bad” It is an honor to speak here today with Senator Gramm, a man whose name graces many of the most important banking and budgetary bills enacted during the decades he represented Texas voters – I know they miss him still. He has just…
Daily Scan: Energy stocks boom with fears of oil supply disruption
Capital Markets
November 16, 2015 Stocks rose Monday, despite concerns that the attacks in Paris would scare investors. The S&P 500 added 1.5%, led by the energy sector, which gained 3.3%.  U.S.-traded crude oil rose 3% to $42.08/barrel as investors showed their concern that airstrikes in the Middle East could lead to oil-supply disruptions. The Dow was up 1.4%, and the Nasdaq added 1.15%.…
The shadow rate casts gloom
Capital Markets
Nearly 92% of economists surveyed this week by the Wall Street Journal expect that our eight-year experiment with unprecedented monetary easing from the Federal Reserve will come to an end at the next Fed meeting in December. Since we have had the monetary wind at our back for so many years, at least a few have begun to question our…