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    Rochester officers removed from patrol after incident involving 9-year-old girl Activists chart course for Black Americas progress after a year of turmoil Boeing Returns to Bond Market to Refinance Growing Debt Load (Bloomberg) -- Boeing Co. is selling bonds for the third time since April, looking to refinance an over-levered balance sheet that swelled to keep money flowing in the pandemic. © Photographer: Simon Dawson/Bloomberg A Boeing Co. 737 max aircraft performs a flying display on the second day of the Farnborough International Airshow 2016 in Farnborough, U.K., on Tuesday, July 12, 2016. The planemaker is borrowing to repay a portion of the $13.8 billion loan it drew down at the onset of the coronavirus outbreak, part of a borrowing spree that took its debt balance up to $63.6 billion by year end. It’s been able to call on bond investors time and time again, riding its way through one of the worst years in its century-long history amid a halt in global travel and the grounding of its best-selling plane. Load Error Boeing is offering bonds in...
    Hate groups declined in 2020 from 2018s record high, SPLC reports, but amount of hate has not diminished More vaccinations could slow spread of new forms of COVID; running with the bulls wont happen in Spain: Live COVID-19 updates Boeing Returns to Bond Market to Refinance Mounting Debt Load (Bloomberg) -- Boeing Co. is selling bonds for the third time since April, looking to refinance an over-levered balance sheet that swelled to keep money flowing in the pandemic. © Photographer: Simon Dawson/Bloomberg A Boeing Co. 737 max aircraft performs a flying display on the second day of the Farnborough International Airshow 2016 in Farnborough, U.K., on Tuesday, July 12, 2016. The planemaker is borrowing to repay a $13.8 billion loan it drew down at the onset of the coronavirus outbreak, part of a borrowing spree that took its debt balance up to $63.6 billion by year end. It’s been able to call on bond investors time and time again, riding its way through one of the worst years in its century-long history amid a halt in global travel and...
    States challenge Biden on rights for transgender students Daniel Pearl: Pakistans top court frees men convicted of kidnapping and murdering US journalist SoftBank Group Boosts Size of Planned Bond in Market Return (Bloomberg) -- SoftBank Group Corp. is set to price 177 billion yen ($1.7 billion) of debt Friday in its first bond sale in more than a year, according to people familiar with the matter. © Bloomberg A woman wearing a protective face mask walks down a flight of stairs in front of a SoftBank Corp. store in Tokyo, Japan, on Friday, Aug. 7, 2020. After reporting record losses in May and warning the coronavirus outbreak could be as devastating as the Great Depression, SoftBank Group founder Masayoshi Son is already poised to declare a recovery. The Japanese technology conglomerate led by Masayoshi Son boosted the planned size from an initial target of about 100 billion yen. Load Error The company will price the hybrid securities at a maturity of 35 years with an option to be called after five years, and a coupon of 3%, the...
    Federal Reserve Jerome Powell testifies during a Senate Banking Committee hearing on "The Quarterly CARES Act Report to Congress" on Capitol Hill in Washington, U.S., December 1, 2020.Susan Walsh | Reuters Federal Reserve Chairman Jerome Powell will try to avoid sounding hawkish in any way when he talks about the Fed's commitment to its easing policies, particularly its bond buying program. The Fed is not expected to take any actions at its January meeting, and it will reaffirm its commitment to low interest rates and other easing policies when it issues its statement at 2 p.m. ET Wednesday. Powell speaks at 2:30 p.m. ET, and he should also acknowledge that the economy has softened, consumer spending weakened and the labor market deteriorated since the Fed's December meeting. "He's going to say rates are staying low. We need more fiscal [stimulus]. We're not out of the woods with the virus, and rates will stay low for a substantial period. There's still lots of progress to be made," said John Briggs, head of global strategy at NatWest Markets.VIDEO2:4802:48Here's what Wall Street thinks...
    Biden overturns Trumps ban on transgender troops in first moves for Defense Secretary Austin The pandemic is still raging. Colleges are reopening in-person. What comes next? Why Financial Advisors Should Watch the Bond Market Your clients may feel thrilled at how their S&P 500 index fund and "story stocks" keep climbing. The election is over, vaccines are here and the Federal Reserve has their backs. What could possibly go wrong? © (Getty Images) Financial advisor with investing chart on laptop screen Unfortunately, the danger is out there lurking, just like the villain in a Hollywood horror film. Load Error Quietly, long-term interest rates are threatening to pounce. Based on recent analysis, there is potential for rates to rise much faster than analysts expect. If that occurs, financial advisors will have to speed-learn something they haven't had to do often: Explain to clients why their bond portfolios and bond funds are down. And they won't just be slightly down. They could experience potential 10% to 20% losses or more. A Rise in Interest Rates The last time interest...
    Rafa Benitez leaves Chinas Dalian Pro, blames virus Dolly Partons 50 Year-Long Style Evolution Is Really Something The stock market is at or near the most-expensive levels ever by most measures. When will it matter? A battery of valuation tests from Goldman Sachs shows the market to be at or near the most-expensive levels in recent history on most measures. Stock values look less extreme relative bond yields and corporate free cash flow. There is a distinct "greed hive" that's buzzing with options speculation, engineered short squeezes and heedless momentum buying of marginal, illiquid stocks. However, when financial conditions remain very loose and the direction of expected earnings is up, there tends not to be a general reckoning due to high valuations © Provided by CNBC The Charging Bull bronze sculpture located on Broadway at the Financial District of Manhattan. Stocks are richly valued today, but they've been more expensive at times in the past. High valuations imply unimpressive long-term returns, but they have no relationship at all to how the market does in a given year....
    Athletes who struck it rich after their playing careers Celebs weve lost to COVID-19 Is the stock market open on Martin Luther King Jr. Day? Here are the trading hours © AFP via Getty Images MARKET EXTRA Load Error Stock and bond markets in the U.S. will be closed Monday, January 18 in observance of Martin Luther King, Jr. Day, offering traders a short break from what’s already been a hectic year. The Securities Industry and Financial Markets Association, or Sifma, has recommended that bond markets close for the day, impacting trading in the 10-year Treasury note The New York Stock Exchange and the Nasdaq are also closed for the federal holiday. Meanwhile, in U.S. commodities markets, there will be no regular trading or settlements, including for Nymex crude oil and Comex-traded gold. The holiday comes as investors remain on edge over rising coronavirus case counts, a slow vaccine roll-out, violence surrounding the presidential transition, lofty stock valuations, surging bond yields, and more. Even so, stocks have carved out gains in the year to date: the Dow...
    Fact check: Pelosis conference room laptop was not taken by special forces during Capitol riot Israel reaches 2 million vaccinated milestone Here’s where the market sees the U.S. 10-year Treasury yield headed next © MarketWatch photo illustration/iStockphoto MARKET EXTRA Load Error After the U.S. 10-year Treasury yield burst through the 1% mark last week, investors are wondering what the future may hold for the benchmark maturity. On one hand, a handful of market participants fear an aggressive fiscal agenda from the incoming administration of Joe Biden could put the bond-market on the precipice of a disorderly selloff in the magnitude of the 2013 ‘taper tantrum,’ but others argue long-term Treasurys are unlikely to see a sharp increase due as the Federal Reserve is unlikely to change its pace and scale of asset purchases this year. Despite the variety of opinions over the eventual destination for government bond yields, the consensus is they will ultimately rise as the economy recovers from the coronavirus pandemic with the help of historically large fiscal and monetary policy stimulus. “Yields are...
    Trump administration to ask states to speed up vaccinations instead of holding back second doses Sheldon Adelson, casino magnate and major Trump donor, dies aged 87 Dow Futures Edge Higher Amid Trump Impeachment Drama; Treasury Yields Extend Bond Market Selloff The Tuesday Market Minute Global stocks inch higher in cautious trading, with markets tracking political drama in Washington and noting the ongoing rise in U.S. Treasury bond yields. House Speak Nancy Pelosi will move forward which impeachment procedures Wednesday amid reports that VP Mike Pence will not invoke the 25th Amendment to remove President Trump from office. Benchmark 10-year Treasury yields rise to a fresh 10-month high of 1.156% overnight, extending the bond market sell-off that has investors focused on global interest rates. Bitcoin rebounds from Monday's bear market slump, adding 9% to trade past $36,000 as crypto volatility grips markets. Oil nears 11-month highs ahead of EIA and API reports, with WTI crude passing $53 dollars per barrel. Fourth-quarter earnings reports start this week with numbers from JPMorgan, Citibank and Wells Fargo on Friday. U.S....
    NBC Sports Premier League schedule, Weeks 18-19 This Is How Bad the COVID Outbreak Is in Your State Dow Futures Edge Higher Amid Trump Impeachment Drama; Treasury Yields Extend Bond Market Sell-Off The Tuesday Market Minute Global stocks inch higher in cautious trading, with markets tracking political drama in Washington and noting the ongoing rise in U.S. Treasury bond yields. House Speak Nancy Pelosi will move forward which impeachment procedures Wednesday amid reports that VP Mike Pence will not invoke the 25th Amendment to remove President Trump from office. Benchmark 10-year Treasury yields rise to a fresh 10-month high of 1.156% overnight, extending the bond market sell-off that has investors focused on global interest rates. Bitcoin rebounds from Monday's bear market slump, adding 9% to trade past $36,000 as crypto volatility grips markets. Oil nears 11-month highs ahead of EIA and API reports, with WTI crude passing $53 dollars per barrel. Fourth quarter earnings reports start this week with numbers from JPMorgan, Citibank and Wells Fargo on Friday. U.S. equity futures suggest modest opening bell gains...
    What is the Insurrection Act and how could Trump use it? Fellow Manhattan College alums want Giuliani stripped of honors Dow down modestly as investors look beyond impeachment push, COVID surge to hopes for recovery © Spencer Platt/Getty Images MARKET SNAPSHOT Load Error Stock-market benchmarks traded slightly lower Monday afternoon, but still near record highs, as investors remained optimistic about the prospects for the incoming Biden administration to oversee an economic recovery. Also in focus were surging COVID-19 cases and potential political fallout from last week’s violent mob attack on Capitol Hill. Equities ended last week in rally mode, with the Dow, S&P 500 and Nasdaq Composite each logging a record close on Friday. Investors were focused on the potential for the incoming Biden administration to ramp up vaccinations and to steady the U.S. economy, as the clock winds down on President Trump’s tumultuous one-term in the White House. “In general, it’s been a strong start to the year as people have stayed hopeful that there will be some progress with distributing the vaccine,” said John Carey, portfolio...
    Law enforcement braces for more extremist violence in DC and around the US ahead of Inauguration Day US Capitol riot investigation: FBI wants your help in IDing the man carrying a Confederate flag Dow edges back from record high as investors monitor impeachment push, COVID surge and rise in bond yields © Spencer Platt/Getty Images MARKET SNAPSHOT Load Error Stock-market benchmarks fell slightly Monday midday, pulling back from record highs set last week, as investors weighed rising risks around a continued surge in COVID-19 cases and monitored the fallout from a violent mob attack on Capitol Hill. Equities ended last week in rally mode, with the Dow, S&P 500 and Nasdaq Composite each logging a record close on Friday. Equity analysts said worries that stimulus efforts could be slowed by a move to impeach President Trump, on the grounds that he helped incite a riot on the Capitol, were a potential damper on buying sentiment. Last week’s rise to records, despite the turmoil, was attributed to expectations that President-elect Joe Biden’s incoming administration would be able to...
    Bloomberg Social bonds boost ESG debt to US $ 732,000M in 2020 (Bloomberg) – The global sustainable debt market grew 29% to a record $ 732 billion last year, benefiting from an explosion in bond issues for social projects amid the aftermath of the pandemic, according to BloombergNEF. Sustainability continues to rise on the agenda for investors, businesses and governments, ”Mallory Rutigliano, BNEF’s sustainable finance analyst, said in a report on Monday. “This relatively new market is now being viewed as a tool that global economies can use to rebuild in a greener and more socially just way.” Social bond issuance increased sevenfold to $ 147.7 billion in 2020, as the Governments and companies borrowed for pandemic relief programs amid strong demand from investors, BNEF said. Issuance of sustainability bonds, which allow issuers to use proceeds for both green and social projects, increased 81% to $ 68.7 billion during the period. The largest issuers of social bonds last year included the European Union, which attended to the market three times to fund projects intended to provide funds for a work...
    Black lawmakers and activists decry police response to attack on Capitol Politics live updates: House Speaker Nancy Pelosi calls for Trumps removal from office using 25th Amendment Gold scores partial rebound a day after bond yield rise pressured prices © Paul Faith/AFP/Getty Images METALS STOCKS Load Error Gold futures scored a partial rebound on Thursday, day after rising U.S. bond yields prompted the metal, which doesn’t offer a coupon, to post its first loss in six sessions. Commodity dealers are betting that the longer-term outlook for gold is higher, with a Democratically controlled Congress likely to champion greater government spending to reflate the economy which is bullish for gold prices. Congress worked through the night to certify Democrat Joe Biden as the winner of the presidential election, and “with the Georgia run-off going the way of the Democrats for both seats, this theoretically opens the door to a stronger stimulus programme than hitherto,” said Rhona O’Connell, head of market analysis, EMEA and Asia, at StoneX.  However, gold and silver prices traded well off the peak prices...
    After top staff exodus, Texas AG seeks $43M for Google suit Kim Jong Un acknowledges ‘painful lessons’ as economy suffers Stock-market futures slip as bond yields pop with Senate runoffs in Georgia on a knife’s edge © Michael M. Santiago/Getty Images MARKET EXTRA Load Error Wall Street had Georgia squarely on its mind Tuesday night, with equity futures and bonds mostly in the crosshairs as investors eyed dual contests for key Senate seats coming down to razor-thin margins in early returns. MarketWatch’s Victor Reklaitis reported that analysts are describing the Georgia races as “about as close as you can get,” and there are expectations that the winners won’t be declared until Wednesday morning. At last check, tallies from populous Democratic-leaning counties, particularly in Dekalb, which could swing the vote tally, were looming. Democratic challenger Jon Ossoff was trailing incumbent Republican Sen. David Perdue, with over 90% of the vote counted, after enjoying a handy lead earlier, according to data aggregated by the Associated Press. In the other runoff, Democrat Raphael Warnock was also...
    Nashville bombing: Girlfriend told police in 2019 bomber was building explosives in an RV, records show Stimulus checks, coronavirus bill, UK approves 2nd vaccine: 5 things to know Wednesday Is the Stock Market Open on New Years Eve 2020? Most of us are anxious to be done with 2020, but we'll have to wait through one last trading session before popping the champagne. © Provided by Kiplinger The stock market is indeed open for a full trading session on New Year's Eve, Thursday, Dec. 31, 2020. But for what it's worth, bond traders do get a slightly shortened day; the bond markets will close up shop a little early, at 2 p.m. ET. SEE MORE The 21 Best Stocks to Buy for 2021 The upshot? Friday, New Year's Day, is a holiday for the stock and bond markets alike. Load Error From all of us at Kiplinger: Have a happy and prosperous 2021! The following is a schedule of all stock market and bond market holidays for 2021. Please note that regular trading hours for the New...
    London (CNN Business)Governments are borrowing vast sums of money to cushion the blow to their economies from the pandemic. That's given social bonds — which fund projects that address social issues such as unemployment or access to healthcare — a chance to shine.What's happening: Social bonds have raised more than $163 billion this year, more than 10 times the $13 billion raised in 2019, according to a report from law firm Linklaters. The coronavirus pandemic has been the primary driver of the exponential growth in the asset class."Social bonds emerged as a useful tool in the fight against the pandemic by mitigating the socio-economic impact of the crisis," said Linklaters capital markets partner Richard O'Callaghan.The European Union was the largest issuer of social bonds, raising $47.3 billion across five deals. Other major fundraisers included the Asian Development Bank, as well as CADES and UNEDIC, bodies that manage France's social security debt and unemployment insurance system respectively. The pair raised over $42 billion across 11 bonds.For the first time, theres a woman on every S&P 500 board. But theyre still in...
    New York (CNN Business)Federal Reserve Chair Jerome Powell has made abundantly clear that he is more concerned about the challenging job market than the possibility that more stimulus may eventually lead to higher inflation. It's a view shared by his former boss -- Janet Yellen.So with Yellen and Powell set to work closely together again, because she is President-elect Joe Biden's nominee for Treasury Secretary, do investors need to worry that their policy position might push the already soaring stock market even higher?"Powell has been talking a lot about the labor market and that the healing must include all workers that want jobs. And Yellen is a labor economist," said Quincy Krosby, chief market strategist at Prudential Financial. "So it's possible the Fed could be too dovish and let inflation get hotter."Inflation is not a worry currently. Consumer prices have risen less than 2% over the past 12 months, according to the Fed's preferred measure of inflation, which looks at personal consumption expenditures.And interest rates are not going anywhere anytime soon. They will be stuck near zero for several more...
    The founders of a company called RagingBull tout themselves as expert stock traders who teach customers how they, too, can become millionaires. In marketing emails they say they've found a "hidden bull market" in the COVID-19 pandemic. Federal regulators say the company operators have defrauded consumers out of more than $137 million over the past three years. And the coronavirus-fueled economic crisis hasn't tempered their "reckless" efforts to dupe vulnerable investors, government lawyers wrote in a court filing Monday. The Federal Trade Commission sued RagingBull.com LLC and the company's co-founders, Jeffrey Bishop and Jason Bond, in Maryland. FTC attorneys are seeking federal court orders freezing company assets, halting the alleged fraud scheme and awarding relief to consumers, including refunds and restitution. Get Breaking News Delivered to Your Inbox A purported disclaimer buried on the company's websites acknowledges that there is nothing to substantiate its claims that consumers are likely to make the "market-beating returns" that Raging Bull advertises, Monday's lawsuit says. "To sustain this illegal operation, Defendants have poured millions of dollars each year into their deceptive marketing campaigns,...
    COLLEGE PARK, Md. (AP) — The founders of a company called Raging Bull tout themselves as expert stock traders who teach customers how they, too, can become millionaires. Marketing emails said they found a “hidden bull market” in the COVID-19 pandemic. Federal regulators say the company operators have defrauded consumers out of more than $137 million over the past three years. And the coronavirus-fueled economic crisis hasn’t tempered their “reckless” efforts to dupe vulnerable investors, government lawyers wrote in a court filing Monday. The Federal Trade Commission sued RagingBull.com LLC and the company’s co-founders, Jeffrey Bishop and Jason Bond, in Maryland. FTC attorneys are seeking federal court orders freezing company assets, halting the alleged fraud scheme and awarding relief to consumers, including refunds and restitution. A purported disclaimer buried on the company’s websites acknowledges that there is nothing to substantiate its claims that consumers are likely to make the “market-beating returns” that Raging Bull advertises, Monday’s lawsuit says. “To sustain this illegal operation, Defendants have poured millions of dollars each year into their deceptive marketing campaigns, filled with false earnings...
    Chuck Yeager, test pilot who broke sound barrier, dies at 97 Sister of missing Thai dissident meets with Cambodian judge Stock-tip company Raging Bull accused of $137-million fraud © Marketwatch ASSOCIATED PRESS Load Error COLLEGE PARK, Md. — The founders of a company called Raging Bull tout themselves as expert stock traders who teach customers how they, too, can become millionaires. Marketing emails said they found a “hidden bull market” in the COVID-19 pandemic. Federal regulators say the company operators have defrauded consumers out of more than $137 million over the past three years. And the coronavirus-fueled economic crisis hasn’t tempered their “reckless” efforts to dupe vulnerable investors, government lawyers wrote in a court filing Monday. The Federal Trade Commission sued RagingBull.com LLC and the company’s co-founders, Jeffrey Bishop and Jason Bond, in Maryland. FTC attorneys are seeking federal court orders freezing company assets, halting the alleged fraud scheme and awarding relief to consumers, including refunds and restitution. A purported disclaimer buried on the company’s websites acknowledges that there is nothing to substantiate its claims that consumers are...
    COLLEGE PARK, Md. (AP) — The founders of a company called Raging Bull tout themselves as expert stock traders who teach customers how they, too, can become millionaires. Marketing emails said they found a “hidden bull market” in the COVID-19 pandemic. Federal regulators say the company operators have defrauded consumers out of more than $137 million over the past three years. And the coronavirus-fueled economic crisis hasn’t tempered their “reckless” efforts to dupe vulnerable investors, government lawyers wrote in a court filing Monday. The Federal Trade Commission sued RagingBull.com LLC and the company’s co-founders, Jeffrey Bishop and Jason Bond, in Maryland. FTC attorneys are seeking federal court orders freezing company assets, halting the alleged fraud scheme and awarding relief to consumers, including refunds and restitution. A purported disclaimer buried on the company’s websites acknowledges that there is nothing to substantiate its claims that consumers are likely to make the “market-beating returns” that Raging Bull advertises, Monday’s lawsuit says. “To sustain this illegal operation, Defendants have poured millions of dollars each year into their deceptive marketing campaigns, filled with false earnings...
    They know the sick. On Navajo Nation, contact tracers work to control coronavirus on vast lands Trump suggests Joe Biden will try to take the word Christmas out of the vocabulary When stocks slide, Treasurys are no longer an effective hedge, BIS finds It’s conventional wisdom that when stock markets swoon, investors flock to the safety of U.S. Treasury securities. © Provided by MarketWatch That’s not the case anymore, according to a study released on Monday by the Bank for International Settlements. Load Error As part of its quarterly review, the BIS studied the response of 10-year Treasury yields to S&P 500 selloffs. Before the 2000s, the yield on the benchmark government bond tended to rise by 2 basis points when the S&P 500 fell by 1%. That is, stocks and bonds fell together. After 2000, Treasurys did become an effective hedge to stock market losses, as yields declined during equity market downturns. But over the last two years, that relationship is starting to ebb, the BIS found. The response of 10-year yields to S&P 500 selloffs has...
    Rising interest rates are not a good reason to invest in an actively managed bond fund. That’s important to know, since the performance data appear to show just the opposite. As you can see from the chart below, a far greater percentage of bond-market timing newsletters beat a buy-and-hold strategy during bond bear-markets. This would suggest that if interest rates rise from current levels — causing bond prices to decline — then active management would be the way to go. In fact, the data do not support this conclusion. In order to exploit this pattern, you would first need to know that interest rates are indeed headed up — that bonds are in a bear market, in other words. But if you already knew that, then you wouldn’t need to utilize the services of an active manager; your best course of action would then simply be to get out of bonds and go to cash. Perhaps you think that interest rates will rise. I’m skeptical. I’ve been hearing such predictions for many years now, and at least so far...
    One sector is flourishing during the pandemic: K-12 private schools Travel recommendations, restrictions likely to extend through Christmas: Fauci Mohamed El-Erian sounds the alarm on brewing bond-market risks that could plunge the most vulnerable companies into bankruptcy © Reuters/Lucy Nicholson Reuters/Lucy Nicholson Economist Mohamed El-Erian cautioned investors about the risk of rising corporate bankruptcy rates in an interview with Bloomberg TV on Friday. While many investors are ignoring short-term market risks in the hopes that 2021 will be met with a swift vaccine deployment and economic recovery, El-Erian said the time between now and a rollout of the vaccine matters. "People have got to be very careful, especially in high-yield credit, and in emerging markets," he said. Visit Business Insider's homepage for more stories. Many investors have chosen to look past short-term market risks in the hopes that 2021 will be markedly more upbeat. Yet, Mohamed El-Erian warned investors that the interim journey to the vaccine will be a difficult time, particularly for investors in high-yield credit. He told Bloomberg TV on Friday...
    A man wears a protective mask as he rides past the The People's Bank of China in Beijing.Emmanuel Wong | Getty Images SINGAPORE — The People's Bank of China (PBOC) could step in following a number of recent bond defaults by Chinese state-linked firms, according to Bank of Communications International's Hao Hong. "In the past couple of weeks the default situation is somehow getting glaring," Hong, managing director and head of research at the firm, told CNBC's "Street Signs Asia" on Friday. "I wouldn't be surprised to see the PBOC intervene from here," he said. Earlier in November, state-owned coal miner Yongcheng Coal and Electricity defaulted on a 1 billion yuan (around $152.01 million) bond, catching investors off guard given the firm's AAA-rating by a domestic agency. Other high-profile debt defaults followed, including government-backed chipmaker Tsinghua Unigroup. Hong said it's in the Chinese central bank's "best interest" to maintain sufficient liquidity to avoid "systemic risk." The PBOC previously warned in its financial stability report that factors such as a reliance on borrowing to make debt repayments by some large firms...
    U.S. Treasury Secretary Steven Mnuchin and Federal Reserve Chair Jerome Powell are seated to testify before a House Financial Services Committee hearing on oversight of the Treasury Department's and Federal Reserve's coronavirus disease (COVID-19) pandemic response on Capitol Hill in Washington, U.S., September 22, 2020.Joshua Roberts | Reuters The Federal Reserve could provide clues about its bond buying program when it releases its minutes Wednesday, but the odds the central bank takes action at its December meeting have fallen slightly with the expected nomination of Janet Yellen as Treasury Secretary. Minutes from the Fed's last meeting are released Wednesday at 2 p.m. ET. The Fed talked about possible ways to adjust the program at that early November meeting, so it may reveal some aspects of that discussion. Market speculation had been building that the Fed will tweak the bond buying program when it meets in December by changing the duration of the bonds it is buying but keeping the total Treasury purchases at $80 billion a month. The theory is if the Fed increases the purchases of longer duration Treasurys,...
    Anger grows after Covid-19 outbreak in Uruguay squad This Is the Hair Oil Jennifer Garner Swears by for Repairing Thinning Hair Carnival Borrowing Without Ships Suggests Mnuchin May Be Right (Bloomberg) -- Hours after U.S. Treasury Secretary Steven Mnuchin called for emergency lending programs to be allowed to expire, corporate bond investors continued to flood Carnival Corp.’s bankers with more than $11 billion in orders for debt that comes with no collateral protection. Load Error For some, it was a sign that credit markets aren’t so fragile after all. After roughly $2 trillion of borrowing helped U.S. companies bolster their balance sheets with cash to weather the pandemic, investors have grown increasingly confident -- perhaps even complacent -- that the widespread corporate failures predicted by many earlier this year have largely been avoided. Granted, the Fed helped fuel nearly all of that debt issuance, and the investor demand supporting it. And even if the immediate lifeline of $580 billion in backstop money is returned by the Federal Reserve to the Treasury, traders are betting that markets will fare...
    NYC public schools close, perplexing health experts, educators, parents, students Baloney...bizarre...paranoid: Wisc. Democratic election official on Trump ballot claims This bond-market signal will tell investors when it’s time to sell stocks, says strategist © AFP via Getty Images NEED TO KNOW Load Error Another struggle for equities is ahead, as investors begin to face up to the battle against the autumn/winter COVID-19 wave. Wednesday’s news that New York City is shutting schools took down stocks and overshadowed more positive vaccine news from drugmaker Pfizer and partner BioNTech “The market now needs to balance the long term optimism of having a vaccine with the short term problem of a restrained economy,” sums up the team at South African money management firm Vestact. That’s easier said than done, as the pandemic learning curve just keeps rising. Our call of the day from BCA Research’s chief European strategist Dhaval Joshi lays out some clear-cut advice: Sell stocks and head to the sidelines if the U.S. 10-year bond yield rises another 30 basis points. “Since early 2018, a rise...
    Watch: Gronk, Mike Evans with huge plays on Bucs TD drive The Best Teenage Girl Gifts That Shell Brag About to All Her Friends How much of the stock market’s rise over the last 11 years is due to QE? Here’s an estimate © Daniel Slim/Agence France-Presse/Getty Images THE TELL Load Error “In fact, without QE, the Nasdaq-100 should be closer to 5,000 than 11,000, while the S&P 500 should be closer to 1,800 rather than 3,300” through the end of October, wrote equity strategists Sophie Huynh and Charles De Boissezon, in a Friday note (see charts below). Stocks have rallied in the first week of November, with the S&P 500 logging a weekly gain of around 7.3% to finish near 3,509. The Dow Jones Industrial Average gained 6.9% to finish near 28,323. In quantitative easing, a central bank creates credit out of thin air, which it uses to buy securities from banks and other institutions. Purchases of long-dated bonds are intended to drive down yields, which is seen enhancing appetite for stocks and other securities as investors...
    2021 NFL mock draft: Trevor Lawrence goes No. 1 to Jets These Alcohol Delivery Services Will Send Your Favorite Bottle Of Booze Or Bubbly To Your Door Tech-Powered Bond Trades Are Booming as Liquidity Vanishes (Bloomberg) -- A tech-powered approach to bond trading that prices hundreds of securities all at once just had its busiest-ever month, the latest sign that systematic methods are rapidly disrupting the world of fixed income. Load Error So-called portfolio trades are thriving, with market players harnessing exchange-traded funds to move baskets of bonds in one swoop as the pandemic whipsaws the credit cycle and liquidity costs bite. Almost $19 billion of these transactions were processed globally through Tradeweb Market Inc.’s electronic platform in October, according to the company. That was the most since it launched in early 2019, and the service has now handled volume totaling more than $150 billion. It’s a rare insight into the explosive growth of portfolio trades, which are flourishing as a quiet liquidity crisis grips the global credit market. With investors hoarding bonds as demand surges, crushing trading...
    Top US general stands firm amid Pentagon turmoil M1 MacBook Air, Mac Mini and 13" MacBook Pro Preorders Gold futures finish higher amid stock market retreat, pullback in bond yields © Marketwatch MARKET PULSE Gold futures finished higher on Thursday, benefiting from a "risk-off trade," with investors being "cautious about the resurgence" in U.S. coronavirus cases, said Naeem Aslam, chief market analyst at AvaTrade. In addition, "we have uncertainties in relation to the election, such as who will control the Senate. This is really important because if the Senate isn't under Democratic control, it means more challenges for the second stimulus package," he said. December gold rose $11.70, or 0.6%, to settle at $1,873.30 an ounce.
    BUENOS AIRES, Nov 9 (.) – Argentina’s financial markets improved strongly on Monday amid lower global risk aversion in the wake of Joe Biden’s victory in the US presidential race and the announcement by the Pfizer laboratory that its experimental vaccine against COVID-19 it is 90% effective, at a time when local economic pressures entered an impasse. The decision of the Ministry of Economy not to request ‘Transitory Advances’ from the central bank (BCRA), the next arrival of a mission of the International Monetary Fund (IMF) to start negotiations for a new agreement with the country and a bond tender for 750 Millions of dollars with the purpose of taking pressure off the exchange market, monopolized the attention of the domestic market. “Last week there was for the first time a sign of fiscal and monetary moderation, where the Treasury indicated that it will not ask the central bank for temporary advances until the end of the year, although nothing was said about profit transfers,” said Roberto Geretto, economist at Banco CMF. He added that “this...
    Pierce Brosnan's Malibu mansion, The Orchid House, is on the market for $100 million. Mike Helfrich for Chris Cortazzo of Compass/ Axelle/Bauer-Griffin/FilmMagic "James Bond" actor Pierce Brosnan is putting his sprawling beachfront mansion, The Orchid House, on the market for $100 million. The Wall Street Journal's Candace Taylor writes that the actor's mansion was built after the success of "Die Another Day." The house sits on two lots the actor and his wife, filmmaker Keely Brosnan, bought in the early 2000s, per The Journal. Take a look inside the property, for which Chris Cortazzo of Compass has the listing.  Visit Insider's homepage for more stories.
    Thomas Dimitroff discusses his reaction to surreal firing by Falcons Things you should never try to sell on eBay The Fed Has Trained Bond Traders Not to Push Yields Up Too Far (Bloomberg) -- The message from the bond market after the latest brief leap in yields is clear: The Federal Reserve is standing by to prevent an alarming increase in rates, no matter how much debt the Treasury sells amid the pandemic. Load Error Investors have been acting for months as if the Fed has already unleashed one of the remaining tools at its disposal -- yield-curve control, a policy of capping rates to keep them from rising too quickly and squelching an economic rebound. And this week has been no exception. The old adage of “Don’t fight the Fed” is at work here. The mere prospect of central-bank action is keeping yields close to historic lows. In the world’s most important debt market, yields are stuck in a range so tight it has few precedents, even after rates reached a four-month high Wednesday on hints that...
    Traders wear masks as they work on the floor of the New York Stock Exchange as the outbreak of the coronavirus disease (COVID-19) continues New York, May 27, 2020.Lucas Jackson | Reuters The bond market appears to be waking up. After trading in a close range since June, Treasury yields are starting to break out of their range and look set to edge higher. The 10-year yield reached a high of 0.834% early Wednesday morning and was hovering just at the 0.80% level in afternoon trading. "This is an inflection point in the sense that stimulus is coming. It's not if, it's when, and we're getting closer to the point of I think no matter who wins the presidency you're going to get fiscal stimulus," said Jim Caron, head of global macro strategies at Morgan Stanley Investment Management. "It's just a matter of how much and what the process is." Markets have been on edge waiting for a resolution in talks between Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi. Even if the two reach an agreement on a...
    JPMorgan Chase admitted Tuesday to manipulating the markets for precious metals and U.S. Treasuries, agreeing to pay $920 million in fines and penalties for the illegal behavior. U.S. financial regulators and the Department of Justice said traders at JPMorgan used a tactic known as "spoofing" over an eight-year period. Spoofing is when traders send trading signals into a market, with no intention of buying or selling at those prices, in order to move a market in one direction or another. In the case of the U.S. Treasury market, the Securities and Exchange Commission said JPMorgan traders submitted both trades they intended to act upon as well as spoof trades. The goal was to use the spoof to nudge the market in a certain direction, and then activate the intended trade to profit from the move. "I would not have cut the tax on the rich" 00:49 "J.P. Morgan Securities undermined the integrity of our markets with this scheme," said Stephanie Avakian, director of the SEC's Division of Enforcement, in a prepared statement. "Their manipulative trading of Treasury cash securities...
    NEW YORK – JPMorgan Chase admitted Tuesday to manipulating the markets for precious metals and U.S. Treasuries, agreeing to pay $920 million in fines and penalties for the illegal behavior. U.S. financial regulators and the Department of Justice said traders at JPMorgan used a tactic known as “spoofing” over an eight-year period. Spoofing is when traders send trading signals into a market, with no intention of buying or selling at those prices, in order to move a market in one direction or another. In the case of the U.S. Treasury market, the Securities and Exchange Commission said JPMorgan traders submitted both trades they intended to act upon as well as spoof trades. The goal was to use the spoof to nudge the market in a certain direction, and then activate the intended trade to profit from the move. “J.P. Morgan Securities undermined the integrity of our markets with this scheme,” said Stephanie Avakian, director of the SEC’s Division of Enforcement, in a prepared statement. “Their manipulative trading of Treasury cash securities created a false appearance of activity...
    By KEN SWEET, AP Business Writer NEW YORK (AP) — JPMorgan Chase admitted Tuesday to manipulating the markets for precious metals and U.S. Treasuries, agreeing to pay $920 million in fines and penalties for the illegal behavior. U.S. financial regulators and the Department of Justice said traders at JPMorgan used a tactic known as “spoofing” over an eight-year period. Spoofing is when traders send trading signals into a market, with no intention of buying or selling at those prices, in order to move a market in one direction or another. In the case of the U.S. Treasury market, the Securities and Exchange Commission said JPMorgan traders submitted both trades they intended to act upon as well as spoof trades. The goal was to use the spoof to nudge the market in a certain direction, and then activate the intended trade to profit from the move. “J.P. Morgan Securities undermined the integrity of our markets with this scheme,” said Stephanie Avakian, director of the SEC’s Division of Enforcement, in a prepared statement. “Their manipulative trading of Treasury cash securities created a...
    A Chinese national flag seen in front of Oriental Pearl Tower in Shanghai on September 8, 2019.Alex Tai | SOPA Images | LightRocket via Getty Images SINGAPORE — Major index provider FTSE Russell said Thursday it will add Chinese government bonds to its flagship World Government Bond Index from October next year — a development that will bring billions of dollars of inflows into China.   The inclusion — which will be China's third entry into a major global bond index — comes at a time when investors are hunting for yield in an environment of ultra-low interest rates. Several investors estimated that at least $100 billion will flow into China after its bonds debut on the FTSE Russell index. "I think this is another important landmark in China's ... internationalization of their domestic financial markets," Ben Powell, BlackRock Investment Institute's chief investment strategist for Asia Pacific, told CNBC's "Street Signs Asia" on Friday. He pointed out that 10-year Chinese government bonds are yielding around 3% which is "a very high number in the global context."Boosting foreign participationChina's roughly $16 trillion...
    Cards, Brewers making playoff push with 5-game series The Secret Trick for Scoring Deals at Popular Chain Restaurants Virgin Islands Eyes End to Bond-Market Exile With Mega Deal (Bloomberg) -- The U.S. Virgin Islands has been locked out of America’s bond market for years as it wrestles with the same economic forces that drove its bigger neighbor, Puerto Rico, into financial ruin. © Bloomberg Boats sit in a bay in St. Thomas, U.S. Virgin Islands, on Thursday, July 11, 2019. Little St. James Island is where Epstein –- convicted of sex crimes a decade ago in Florida and now charged in New York with trafficking girls as young as 14 –- repaired, his escape from the toil of cultivating the rich and powerful. Now, with a credit rating cut deeply into junk and under pressure to raise cash as a tourism drought stings its economy, the U.S. territory is seeking to sell nearly $1 billion in debt this month by extending an unusual promise to investors: the bonds will be repaid even if it goes bankrupt. Load Error ...
    Slovenia on edge as 2 homegrown riders fight for Tour win James Middleton Shares Personal Photos of His Pet-Friendly Beach Trips: The Dogs Become Mer-Dogs Cheap mortgages are flooding the bond market, creating higher-paying investments © Arctic-Images/Getty Images A picture of a residential neighborhood from above Arctic-Images/Getty Images Load Error Plunging mortgage rates have led to an explosion of home sales in 2020, and lenders have been absolutely inundated with applications as would-be homeowners try to take advantage of the record low rates. All those new mortgages don't just sit on the bank's books after they're written, though - they're flooding into the bond market and investors are scooping them up. And that may create an opportunity for investors looking for higher-than-Treasury yields.Low rates lead to surging demandRates continue their steep skid downward in 2020, with the average 30-year costing just 3.09 percent in the week of Sept. 17. With all-time cheap mortgage rates, would-be borrowers are racing to lock in low-cost money for decades. While many borrowers are plunking down new money for houses, a huge portion...
    Federal Reserve Chairman Jerome Powell, wearing a face mask, testifies before the House of Representatives Financial Services Committee during a hearing on oversight of the Treasury Department and Federal Reserve response to the outbreak of the coronavirus disease (COVID-19), on Capitol Hill in Washington, U.S., June 30, 2020.Tasos Katopodis | Reuters Markets are looking to the Federal Reserve to be a soothing force when it meets in the week ahead, but stocks could remain choppy if the central bank disappoints and as investors focus on the election and the economic recovery. The Fed's two-day meeting is expected to end Wednesday with minor tweaks to its statement and some clarity on how it plans to use forward guidance. The Fed also updates its economic and interest rate outlook, including forecasts for 2023 for the first time. But Quincy Krosby, chief investment strategist at Prudential Financial, said the stock market could easily be disappointed because the Fed is unlikely to offer more clarity on monetary policy, such as plans for bond buying. "The market is concerned the Fed is not going to...
    Takeaways from Lakers’ Game 4 win against the Rockets National parks you havent thought to visit yet Ask Bankrate: How can savers stay ahead of inflation? Ask Bankrate is a recurring feature where Bankrate's experts answer your financial questions. Visit this page for more information on how to submit your question. Click on a question here to jump straight to it. This week's questions were answered by Greg McBride, CFA, Bankrate chief financial analyst. © Photos by Getty Images / Illustration by Bankrate Envelopes Questions: How can savers stay ahead of inflation? Are bonds or bond funds a good investment? What are some good investments in today's market? Where should I stash short-term investments? Q1: How can savers stay ahead of inflation?Given the increasing volatility over the past four decades of personal finance "rules of the road," is equity investment the only way that savers can stay ahead of inflation ... especially considering Jerome Powell's highly risky plan to encourage inflation? (As an example of one of the rules of the road, “invest and forget” for small investors.) Where...
    Jeffrey Gundlach speaking at the 2019 SOHN Conference in New York on May 6th, 2019.Adam Jeffery | CNBC DoubleLine Capital CEO Jeffrey Gundlach said the massive buying frenzy among retail investors this year is an ominous sign for the stock market. "Of course retail investor activity is downright terrifying," Gundlach said during an investor webcast on Tuesday, pointing to the surge in daily average trade and trade per account on online brokers. "We just see how much trading is going on in retail," he said. Gundlach alluded to some of the blame for the retail trading boom falling in the lap of the federal government's unprecendented stimulus. The funds aided many struggling Americans, but for others, the stimulus money reportedly made its way back into the stock market. Gundlach likened the newbie investors to a kid who is offered candy from a stranger. "It looks like people are kind of re-gifting the candy the con has given them ... they are throwing that candy into this retail investment fervor," added the so-called "Bond King." "This is a terrible sign for the...
    Donaldson, Cruz, Sanó Hr, Twins top Cards to open twinbill Pumpkin Recipes Thatll Delight Your Family All Fall Long Bond king Jeffrey Gundlach says the surge in retail investor activity is downright terrifying DoubleLine Capital CEO Jeffrey Gundlach raised a red flag on the massive buying frenzy among retail investors this year, calling it "downright terrifying." "This is a terrible sign for the condition of the market for anybody who's experienced a significant number of cycles, which I've definitely experienced," Gundlach said. The coronavirus rout brought a copious amount of new accounts to online brokers this year as amateur investors sought to get a slice of the epic market comeback. © Provided by CNBC Jeffrey Gundlach speaking at the 2019 SOHN Conference in New York on May 6th, 2019. DoubleLine Capital CEO Jeffrey Gundlach said the massive buying frenzy among retail investors this year is an ominous sign for the stock market. Load Error "Of course retail investor activity is downright terrifying," Gundlach said during an investor webcast on Tuesday, pointing to the surge in daily average...
    Wisconsin farmer plants sunflower fields to provide a respite during this rough year 9 retailers that are avoiding the industrys shakeout and opening stores Does a 40% Bond Allocation Make Sense in Today’s Portfolios? Whether you’re the kind of investor who meets regularly with an adviser or the set-it-and-forget-it type who rarely looks at your 401(k), there’s a good chance your portfolio is set up with something close to a 60/40 mix of stocks and bonds. © Provided by Kiplinger SEE MORE 10 Things You Should Know About Bonds That asset allocation — with approximately 60% of an investor’s money in stocks and 40% in bonds — has been the traditional model for decades. It’s based on the conventional wisdom that the “safer” bond allocation will offset the risk of investing in equities, allowing investors to maintain a reasonably healthy balance in their portfolio whether the stock market is flourishing or floundering. Bonds have long been viewed as a good alternative for moderate and conservative investors who like the stability and income potential they offer. Load Error...
    For far too long, there haven’t been many good options for Americans who want to do well by doing good with their investment dollars. An entire industry has emerged to counsel investors on stocks to avoid, based on certain criteria: companies that don’t have diverse workforces, or those with objectionable business models, like private prisons or for-profit colleges. But for many investors, that’s weak sauce: indirect at best, suspect at worse, and, in the end, unlikely to make much meaningful difference. The solution may lie in an innovative new strategy that directly matches investor money to places that need capital, via the municipal bond market. The strategy, known as fiscal justice investing, springs from an uncomfortable reality in the municipal market. While “munis” often are known for being staid and conservative, they’re also extraordinarily idiosyncratic. Within a $3.9 trillion marketplace, there are 50,000 issuers — states, cities, towns, water districts, transportation authorities, school systems, hospitals, and so on — from all over the country, representing a range of local economies, credit risk profiles, fiscal challenges, demographics, and...