| September 02, 2022 | | | | | Jeff Bergstrom
Editor
John Lothian News | |
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| | | | Observations & Insight | | |
MWE SHORT: Sandra Ro - Financial Services Disruption: the Rise of Bitcoin and Blockchain
JohnLothianNews.com
"There is this big debate as to whether bitcoin is a currency or a commodity. I would argue that it is its own category."
Sandra Ro is a veteran in the world of bitcoin and blockchain, which simply means that she has been following the cryptocurrency and its underlying technology for over two years. In this MarketsWiki Education talk, Ro takes us through the nascent world of digital currencies, from the volatility of bitcoin, to the rise of blockchain technology and massive investments being made by venture capitalists, banks and other strategic investors. According to Ro, the next few decades are going to be exciting.
Watch the video »
| | | | | | Lead Stories | | | Wall Street's Jobs Report Reaction: Everything Is Working the 'Way It Should'
Isabelle Lee - Bloomberg
Skittish stock markets got a reprieve Friday after the latest hiring data showed wage pressures easing as more Americans entered the workforce instead
Futures on the S&P 500 rose and Treasury yields fell after data showed the job participation rate jumped last month, which helped bring labor costs down -- a key step in helping the Federal Reserve's efforts to reduce inflation. The fact that new jobs came in higher than expected also suggested to many investors that the Fed's aggressive rate hikes aren't yet doing serious economic damage.
/jlne.ws/3TBtUup
No Soft Landing Ahead to Save Stocks, Goldman's Oppenheimer Says
Emily Graffeo and Alix Steel - Bloomberg
The economic soft landing that stock bulls are hoping for is unlikely given persistently higher inflation and risks of a global economic slowdown, according to Goldman Sachs Group Inc.'s Peter Oppenheimer.
The chief global equity strategist told Bloomberg TV on Friday that even though major equity markets have tumbled year-to-date, they need to fall more in order to price in inflation remaining higher for longer and the global downside risks to growth in the US, China, and Europe. While some market patterns, like the outperformance of defensive stocks over cyclicals, suggest that the market is expecting an economic slowdown, Oppenheimer is not convinced the broad equity market is in touch with reality.
/jlne.ws/3wQbyMo
Tech Stocks Are in a Horrible Slump. Don't Expect a Turnaround Soon.
Jack Denton - Barron's
Even in a year that has been bad for tech stocks, the last week has been particularly grim. Investors shouldn't expect a turnaround any time soon, with a number of catalysts that risk more downside moves looming in the days and weeks ahead.
The tech-heavy Nasdaq Composite index remains firmly in bear market territory, down more than 25% so far this year. While a two-month rally from yearly lows in mid-June saw gains of more than 20% from the Nasdaq's bottom, it has all collapsed in the past week, with the index down 7% since last Friday.
/jlne.ws/3QcuTOI
The fast inflation shock is leading to a slow recession shock that will lead the stock market to new lows, Bank of America says
Matthew Fox - Business Insider
The ongoing inflation shock will lead to a slow recession shock that ultimately drives the stock market to new lows, Bank of America said in a Friday note.
The bank expects stocks to drop and yields to pop following Jerome Powell's hawkish speech at Jackson Hole last week.
/jlne.ws/3Qd5bcX
How the VIX helps investors predict future market volatility
Lily Jamali - Marketplace
If there's one word that defines the investment markets these days, it is "volatility."
Wall Street traders who want to estimate future market volatility often look to the Cboe Volatility Index. It's known as the VIX for short.
While many of us keep an eye on major stock indexes, Vanderbilt's Robert Whaley also tracks the VIX, sometimes called the "fear gauge."
/jlne.ws/3R8HUKy
| | | | | | Exchanges | | | OCC August 2022 Total Volume Up 13.3% Year-Over-Year, Third Highest Month on Record OCC
OCC, the world's largest equity derivatives clearing organization, announced today that year-to-date average daily volume through August 2022 was 40.5 million contracts, up 4.2 percent compared to year-to-date average daily volume through August 2021. Total volume was 912.5 million contracts, up 13.3 percent compared to August 2021 and the third highest month in OCC's history. Highlights: Total volume up 13.3% year-over-year, highest August on record; ETF options cleared contract volume up 59.6% year-over-year; Index options cleared contract volume up 58.7% year-over-year; Stock Loan transaction volume up 20.4% year-over-year.
/jlne.ws/3AI7kYC
CME Group Reports 22% ADV Growth in August 2022
CME
Highest-ever August for Equity Index ADV; Record SOFR futures and options OI. CME Group, the world's leading derivatives marketplace, today reported its August 2022 market statistics, showing average daily volume (ADV) increased 22% to 21.2 million contracts during the month. Market statistics are available in greater detail at https://cmegroupinc.gcs-web.com/monthly-volume.
/jlne.ws/3ehGv62
Shanghai International Energy Exchange has announced its Circular on the Participation of Qualified Foreign Institutional Investors and RMB Qualified Foreign Institutional Investors in Commodity Futures and Options Trading
SFE
With the approval of the China Securities Regulatory Commission (CSRC), starting from today, Qualified Foreign Institutional Investors and RMB Qualified Foreign Institutional Investors can participate in the trading of the following commodity futures and options contracts of Shanghai International Energy Exchange (INE): 1. Crude Oil, TSR20, Low Sulfur Fuel Oil, and Bonded Copper futures contracts; 2. Crude Oil options contracts.
/jlne.ws/3AIq9uG
Moscow Exchange launches trading in futures and options on foreign shares
MOEX
On September 6, 2022, settled futures contracts and options on the foreign stock index will begin trading on the derivatives market of the Moscow Exchange. The new contract will provide all categories of investors, including individuals, with additional opportunities to diversify their portfolios using global market instruments without the need to purchase a physical asset.
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| | | | | | Moves | | | Ex-CFTC Commissioner Sommers Joins FTX US Derivatives Board
MarketsMedia
FTX US Derivatives, a Commodity Futures Trading Commission (CFTC) regulated digital asset futures & options exchange and clearinghouse, announced former CFTC Commissioner, Jill Sommers, has joined the Company's Board of Directors.
/jlne.ws/3wRp1DU
| | | | | | Strategy | | | AllianceBernstein Joins Funds Betting BOJ Is Going to Capitulate
Ruth Carson, Matthew Burgess, and Chikako Mogi - Bloomberg
The post-Jackson Hole global debt rout has renewed scrutiny on funds betting against Japanese government bonds, though this time some expect fewer fireworks than the market saw in June.
AllianceBernstein Holding LP and GAMA Asset Management join a cohort of fund titans that are short or underweight JGBs on bets the Bank of Japan will have to loosen its grip on yields as soaring inflation hammers bonds around the world. Local investors have a different take: you can attempt to beat the BOJ, but it's called the "widow-maker" trade for a reason -- no one has ever succeeded.
/jlne.ws/3TD6FAf
The stock market is unrelentingly bearish but still nowhere close to triggering a 'buy' signal
Lawrence G. McMillan - MarketWatch
The S&P 500 Index SPX, -0.89% has been in a bearish phase since the mid-summer rally fizzled out near 4,300 points.
The declining 200-day moving average of the benchmark index happened to be close to 4,300, and the combination of the two not only put an end to that rally but seems to have kicked off a leg down in stock prices.
/jlne.ws/3ROPN87
| | | | | | Miscellaneous | | | Investing expert: How 'the smartest people in finance' build wealth
Ryan Ermey - CNBC
If you follow financial figures on social media, chances are you're getting inundated with new ideas every day. Whether it's buying stocks, "HODLing" cryptocurrency or trading options, there's always seemingly a new way to get richer faster.
While some people do manage to get rich quick through trading, for most, building wealth is a long-term game. And when your goal is decades away, the best advice tends to be boring. In fact, it may boil down to doing one simple thing.
/jlne.ws/3wTlWDf
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