Wall Street Is Buying US Spot Bitcoin ETFs: 13F SEC Fillings
Institutional investors are acquiring shares in newly launched spot bitcoin ETFs as revealed in the latest 13F filings.
Major institutions like Park Avenue Securities, Inscription Capital, American National Bank, and Wedmont Private Capital are investing in spot bitcoin ETFs. [ more ]
Mavik Capital raising real estate fund as regional banks retreat
Mavik Capital Management LP aims to raise $515 million for US middle-market commercial real estate, seeking returns of 15-25%.
Regional banks are pulling back from commercial real estate, creating opportunities for private credit lenders like Mavik Capital Management LP. [ more ]
Bitcoin rises towards record high; SEC investigating if OpenAI investors were misled' business live
Bitcoin approaching all-time high at over $63,000 with gains driven by new Bitcoin ETFs and halving event in April.
Market anticipation of Bitcoin breaking November 2021 record of almost $69,000 fueled by institutional client inflows and strategic purchases like MicroStrategy's. [ more ]
ANALYSIS | Bank failures offer Jerome Powell new lessons as U.S. Federal Reserve makes policy on the fly | CBC News
Crisis is a great teacher for central bankers and for the rest of us.Canadians who thought money was an unchanging unit for earning, saving and spending learned their lesson from a year of inflation.And anyone who thought banks were glorified instant teller machines certainly learned something over the last two weeks as they watched contagion from the disintegrating Silicon Valley Bank (SVB) help bring down Swiss banking giant Credit Suisse.
Bitcoin Magazine - Bitcoin News, Articles and Expert Insights
Banks Are Borrowing More From the Fed: What to Know
Banks are turning to the Federal Reserve's loan programs to access funding as turmoil sweeps the financial system in the wake several high-profile bank failures.The collapse of Silicon Valley Bank on March 10 followed by Signature Bank on March 12 prompted depositors to pull their money from some banks and sent the stock prices for financial firms on a roller-coaster ride.
UK aid to India does little for human rights and democracy, watchdog finds
Britain's aid programme to India is fragmented, lacks a clear rationale and does little to counter the negative trends in human rights and democracy in the country, the government's aid watchdog has found.The findings are likely to be used by those who claim the UK government risks using its aid programme to deepen its relationship with India, including seeking free trade deals, rather than attempting to reduce poverty, which is the statutory purpose of UK aid.
HSBC buys Silicon Valley Bank UK in rescue deal to avoid tech sector chaos
Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email HSBC has bought the UK arm of collapsed US lender Silicon Valley Bank in a last-minute rescue deal to avert a crisis in Britain's technology sector.The sale for a nominal sum of 1 was agreed after all-night talks between the Government and the Bank of England to try to secure a sale of Silicon Valley Bank UK (SVB UK) amid fears that the tech sector would have been thrown into chaos amid the fallout from the failure of the California-based lender.
Artificial intelligence fever ignites a Wall Street frenzy
Financial markets can be very welcoming to technologies that promise to change the world, but history is riddled with episodes of irrational exuberance.Investors were right about the internet but mistakenly rushed in to buy any technology stock associated with the nascent world wide web.The dotcom boom was the first bubble to burst in the 21st century.
Asian stocks fall despite bids to contain SVB contagion fears
The Silicon Valley Bank sign hangs above one of its branches in San Jose, CA, on March 13, 2023.Benjamin Fanjoy, AP Asian markets sank Tuesday, with banks bearing the brunt of the selling on fears of contagion in the sector after the collapse of two regional US lenders.The swift closure of Silicon Valley Bank on Friday, followed by Signature Bank days later, forced US authorities to immediately pledge support for other lenders and depositors.
Analysis | The 2 Trillion Reasons Why Fed Tightening Isn't So Scary
Stubborn inflation means more interest-rate increases are coming from the Federal Reserve and that sounds like great news for banks.They've already been reporting booming net interest income: At JPMorgan Chase & Co., it was up 28% in 2022 and for Bank of America Corp., 22%.But there are downsides to the Fed's tighter monetary policy too, and those have bank executives and many investors fretting: The reversal of its bond-buying program and the shrinking of the central bank's balance sheet, which will suck money out of the financial system and put pressure on markets and banks' funding.
I spend a lot of time maybe you do, too thinking about happiness.What is it?How can I get more of it?But there are other times and maybe this also applies to you when I just think, forget all that: Life is hard, and who says lasting happiness is even within reach?It's in those moments that Samantha Irby's work feels so valuable and refreshing.
Sunak, Hunt and homebuyers brace for an economic Big Wednesday
This Wednesday will mark the longest day of the year and not long after the sun comes up the Office for National Statistics (ONS) will publish its latest cost of living bulletin.To say the data is eagerly awaited is an understatement.There is unlikely to be a more significant piece of official data released in the current parliament.
Revealed: Damning note from Britain's top civil servant that doomed' Liz Truss
Liz Truss was forced out of Downing Street by Britain's top civil servant, it has been claimed.The former prime minister, who lasted just 49 days in the job, was forced to resign in the wake of her disastrous mini-Budget.Tory MPs had turned on Ms Truss, calling for her to quit after her tax cuts sparked turmoil in financial markets.
Kwasi Kwarteng again refuses to apologise over economic turmoil
Kwasi Kwarteng has again refused to apologise for the financial turmoil unleashed by his time in office alongside Liz Truss.The former chancellor, whose mini-budget triggered turbulence in the financial markets and drove up mortgage rates, said he was not in the business of forgiveness.I'm not going to apologise, he told Channel 4 News.
UK households paid 1.05bn in higher mortgage payments since mini-budget last year
Labour has accused Rishi Sunak of being personally responsible for what it branded a 1.05bn Tory mortgage penalty ahead of another predicted rise in interest rates.Shadow chancellor Rachel Reeves has told the Prime Minister to take his fingers out of his ears as the financial burden on homeowners continues to leave so many worse off.
Liz Truss disputing 12,000 bill relating to use of Chevening grace-and-favour house
Liz Truss is disputing part of a 12,000 bill sent to her by the Cabinet Office relating to her use of the grace-and-favour Chevening house while she was foreign secretary.The bill mostly covered hospitality but also included missing items, such as some bathrobes, and dates back to last summer when she was fighting the Conservative leadership campaign against Rishi Sunak.
Liz Truss criticised for stunning lack of humility' over reported peerage plans
Liz Truss has been accused of showing a stunning lack of humility following reports that she plans in effect to create a peer for every 10 days she spent in office.The former prime minister is reported to have nominated at least four new members of the House of Lords, despite being forced from office after only 49 days, following a disastrous mini-budget.
Chancellor: No alternative' to interest rate rises to bring down inflation
The UK has no alternative but to raise interest rates in an effort to bring down inflation, Chancellor Jeremy Hunt has warned.Households are braced for a further increase in rates which already sit at a 14-year-high of 4.5% from the Bank of England next week.Mr Hunt said the Government will be unstinting in supporting the central bank in its efforts to grapple rampant inflation and attempt to bring it back towards a target of 2%.
The United States is inching closer to calamity, as lawmakers continue to spar over what it will take to raise the country's $31.4 trillion debt limit.That has raised questions about what would happen if the United States does not raise its borrowing cap in time to avoid defaulting on its debt, along with how key players are preparing for that scenario and what would actually happen should the Treasury Department fail to repay its lenders.
Inflation Inched Higher in April, Reflecting Challenge for the Fed
A measure of inflation most closely watched by Federal Reserve officials picked up in April, reflecting the difficult path ahead for economic policymakers as they weigh whether to raise interest rates again to bring down stubborn price increases.The Personal Consumption Expenditures index climbed 4.4 percent in April from a year earlier.
Biden expected to meet with Hill leaders Tuesday following productive' debt limit meetings among staff
President Joe Biden is expected to meet Tuesday with congressional leaders on the debt ceiling limit following productive staff-level negotiations over the weekend, two sources familiar with the talks told CNN on Sunday, as the US barrels toward a deadline that could come as soon as June 1.Negotiators have been able to pinpoint some areas on which congressional staff and the White House can find common ground, including revising the permitting process, rescinding unspent Covid-19 relief funds and potentially cutting spending, the sources said.
The exterior of the U.S. Department of Treasury building on March 13 in Washington, DC.Chip Somodevilla/Getty Images Nearly five months before the US was projected to hit the debt ceiling, a small team inside the Treasury Department began alerting top officials to early effects already being felt in the US financial system.
Failure to grasp UK inflation drivers will continue to keep prices high
Inflation is falling, but not as fast as everyone hoped.The Bank of England expected a bigger drop and so did the majority of City analysts.A fall in the consumer prices index (CPI) to 8.7% in April from 10.1% in March put an end to the UK's long period of double-digit price rises, but was not the 8.2% analysts forecast.
Jocelyn Yang is a markets reporter at CoinDesk.She is a recent graduate of Emerson College's journalism program.Bitcoin ( BTC) kicked off the U.S. trading week with gains, moving above $27,000 from as low as $25,800 late on Friday.The largest cryptocurrency by market capitalization was recently trading at around $27,350, up roughly 1.6% in the past 24 hours, according to CoinDesk data.
Artificial intelligence: Business leaders start to realise the risks | Computer Weekly
A Gartner survey of 2,500 executive leaders has found that almost half (45%) say publicity of ChatGPT has prompted them to increase artificial intelligence (AI) investments.The survey reported that 70% of executives said their organisations are investigating the use of AI while 19% are in pilot or have deployed AI in production.
Cryptocurrency Market to See More Upside Following Bank Problems: Bernstein
Financial markets have been shaken in the past week following a series of bank collapses, providing a perfect setting for the decentralized financial system to stand out as an alternative, and for a continued advance in cryptocurrency markets, Bernstein said in a research report Saturday.First Republic Bank's deposit rescue package by multiple institutions should make it obvious that this is a "generic banking problem" and crypto is not to blame, the report said, noting that initial reactions to the collapse of of Silvergate Bank, Silicon Valley Bank and Signature Bank (SBNY) were that these banks held deposits from the crypto world and therefore their problems were idiosyncratic.
Cryptocurrency Outlook Is Strengthened by U.S. Banking Turmoil: Coinbase
The medium to long term outlook for the cryptocurrency market has been "reinforced to the upside" following recent turmoil in the U.S. banking industry, Coinbase (COIN) said in a report Friday."Cryptocurrencies have exhibited some resilience, in part due to technical reasons," but also because more people "now appreciate the fundamental value proposition of having an alternative to the points of failure inherent in the traditional financial system," wrote David Duong, head of institutional research.
Jerome H. Powell, the Federal Reserve chair, said on Friday that inflation continues to be far above the central bank's target but said policymakers haven't made any decisions about whether to raise rates at their next meeting in June.The comments, made at the Fed's annual Thomas Laubach Research Conference, came as businesses and investors around the world are trying to gauge whether the Fed is preparing to pause its campaign to raise borrowing costs amid signs that inflation is easing and the U.S. economy is cooling.
Wall Street finds its footing even as worry about regional banks continues.
Upheaval in financial markets continued on Thursday, as investors balanced pockets of turmoil emanating from the banking industry against some semblance of stability returning to the broader market.The S&P 500 opened with a drop, before quickly rallying to a gain of more than 1 percent by midday.
Stock markets tumbled on Wednesday, as investors' fears over the health of the banking industry resurfaced, and spread around the world, undoing a rally on Tuesday when the panic appeared to pause.European markets were hard hit, with stocks of many of the region's biggest banks falling sharply.Premarket trading in the United States also suggested that much of Tuesday's gain could be swiftly erased, as anxiety persists about the fallout from the collapse of Silicon Valley Bank and Signature Bank, which were seized by regulators after suffering devastating runs on deposits.
Jeremy Hunt, Britain's top financial official, will lay out his tax and spending plans for the country on Wednesday in a speech that will try to deliver a blueprint for economic growth while avoiding any surprises that could shake Britain's restored but fragile fiscal credibility.Mr. Hunt, the chancellor of the Exchequer, is expected to focus on his stated goal of getting hundreds of thousands more people into jobs.
Wall Street rises on relief over banks and inflation.
Wall Street's worries eased on Tuesday, as investors took comfort from signs that a potential banking crisis appeared contained and bet on a more supportive environment for the economy going forward.The S&P 500 rose 1.7 percent, lifted by a recovery in some bank stocks and bolstered by gains for heavyweights like Microsoft and Apple, which because of their size have a bigger impact on the performance of the broader index.
Mortgage rates rise for the first time in 2023. Is volatility back?
Optimism spread across the mortgage industry at the start of 2023.Signs that the disinflationary process was working raised hopes that the Federal Reserve may stop the federal funds rate hikes sooner rather than later.Mortgage rates also dropped about 30 basis points in January, hitting the lowest level since September 2022.
Bank of Canada says just about every mortgage is going to cost more by 2026 | CBC News
The Bank of Canada is more worried than it was last year about household debt loads, and is concerned about the abilities for households to stay on top of them in the coming years once mortgages renew at higher rates.That's one of the main takeaways of the bank's Financial System Review, an annual assessment of various risks the bank deems to be of concern to the stability of Canada's financial system.
"I haven't seen a dry spell like this in the time I've been in business," Bob Yopko, president of First Equity Residential Mortgage, said of this year's spring homebuying season.The purchase market is locked up with a lack of inventory thanks to elevated rates and homeowners already having secured low mortgage rates during the pandemic years.
Mortgage rates are trending up ahead of the Federal Reserve's meeting next week, with the FOMC expected to increase the federal funds rate.Freddie Mac's Primary Mortgage Market Survey shows the 30-year fixed mortgage rate increased to 6.43% as of April 27, up four basis points from last week and 133 basis points from this time last year, when rates averaged 5.10%.
Housing Market Tracker: Mortgage rates and inventory fall together
The financial and housing markets are still trying to sort out the banking crisis and whether we have seen the last Fed rate hike in this cycle.These events led to lower mortgage rates and increased purchase application data last week, but decreased housing inventory.Here's a quick rundown of the last week:
The 10-year yield had a Lord of Rings battle at a critical technical level, pushing mortgage rates lower at the end of the week with no real break in the bond market.
The average long-term US mortgage rate has fallen again
Real Estate News Even though the financial markets remain jittery over bank collapses and the Fed raised its benchmark lending rate, some economists think there may be hope for the downtrodden housing market.The average long-term U.S. mortgage rate fell for the second straight week, which, combined with moderating home prices, could give house hunters a break and the housing market a boost as the spring buying season begins.
Housing Market Tracker: Banking crisis is a new variable
The housing market was crazy again last week.Mortgage rates fell as the banking crisis got worse and purchase application data grew for the second week in a row, but the big question is: Did we hit the seasonal bottom in housing inventory?Here's a quick rundown of the last week:
The 10-year yield had a roller-coaster week, and so did mortgage rates, but the 10-year yield held its critical line, and mortgage rates ended at 6.55%.
Vauxhall-maker bosses to meet UK minister to discuss claims Brexit rules could destroy car industry - business live
Filters BETA Key events (2)UK (4)EU (4)Stellantis (3)Vauxhall (3) An economics academic has warned there is an existential threat to the UK car industry.David Bailey, professor of business economics at the Birmingham Business School, told the BBC Today programme that the stricter rules and increased tariffs set to come into force next year would put British manufacturers at a competitive disadvantage: I think there is a kind of existential threat to the UK car industry.
Mortgage misery as interest rates hit a 14-year high
Millions of homeowners face more pain after the Bank of England raised interest rates to a 14-year high.The 11th consecutive increase comes as the bank struggles to bring stubbornly-high inflation under control.And in more bad news for households, official figures also show average council tax in England will this year top 2,000 for the first time.
Bank of England hikes interest rates for 11th time running after leap in inflation
The Bank of England increased interest rates for the 11th time in a row after an unexpected resurgence in UK inflation.The Bank's Monetary Policy Committee (MPC) decided to increase interest rates to 4.25% from 4%, just a day after the US Federal Reserve raised its key overnight interest rate by a quarter of a percentage point.
Bank of England set to hike rates for 11th time in a row - live
The Bank of England is set to raise interest rates again The Bank of England is expected to raise interest rates for the 11th time in a row, after yesterday's shock rise in inflation.It is due to announce its decision at noon, with economists and financial markets predicting that the BoE's Monetary Policy Committee will lift interest rates to a quarter of one per cent, to 4.25%.
For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails The Thursday papers are led by further revelations from a tranche of leaked messages published by The Daily Telegraph.The paper says former health secretary Matt Hancock was involved in a bitter behind-the-scenes clash with then-education secretary Sir Gavin Williamson over moves to keep schools open during the Covid pandemic.
UK Treasury chief: Tax cuts must wait for inflation to fall
Britain's Treasury chief said Friday that taming inflation is more important than cutting taxes, resisting calls from some in the governing Conservative Party for immediate tax breaks for businesses and voters.At a speech in London, Chancellor of the Exchequer Jeremy Hunt said the best tax cut right now is a cut in inflation.
Editorial: Chicago can't afford $3 billion more in pension obligtions
Chicago firefighters, who risk their lives to keep us safe, deserve a decent living and a secure retirement.So, don't get us wrong when we call out irresponsible legislation moving through Springfield that would add an estimated $3 billion to Chicago's out-of-control pension obligations over the next three decades.
CNN's Donie O'Sullivan Shows RNC Fake Anti-Biden AI Ad To Tourists Outside White House To See If They Can Tell
CNN correspondent Donie O'Sullivan showed passersby the RNC's controversial anti-Biden ad which shows fake catastrophes generated by Artificial Intelligence right in front of the White House to see if they could distinguish the fakes.Last week, the Republican National Committee released an ad that asked viewers to imagine a second term for President Joe Biden and Vice President Kamala Harris that simulated a raft of catastrophes using A.I. and newsy-sounding narration: DISEMBODIED NEWS-STYLE NARRATOR: This just in.
Germany's Scholz says EU banking system 'stable' DW 03/24/2023
German Chancellor Olaf Scholz said during an EU summit on Friday said that Europe's banking system is "stable."The leaders of the eurozone countries were meeting the head of the European Central Bank (ECB), Christine Lagarde, to discuss the potential fallout of several major banks collapsing in the US and Switzerland.
US announces sweeping new Russia sanctions one year into war
A virtually empty Red Square prior to Russian President Vladimir Putin's annual state of the nation address in Moscow on February 21, 2023.Alexander Zemlianichenko (AP) The United States announced a new round of sanctions on Russian firms, banks, manufacturers and people Friday, aiming them at entities that helped Russia evade sanctions earlier in the year-old war against Ukraine.
With mortgage rates dropping, the conforming and jumbo loan spread narrows
The collapses of Silvergate Bank, Silicon Valley Bank and Signature Bank, the rescue of First Republic Bankand the acquisition of Credit Suisse by UBS, brought turbulence to the financial markets that led to a decline in mortgage rates - despite the Federal Reserve hiking federal funds rate by 25 basis point on Wednesday.
Consumer demand for home loans rose for the third consecutive week due to declining mortgage rates, following the turbulence in the financial markets caused by regional bank failures.But the same bank crisis is bringing volatility to the mortgage-backed securities (MBS) market, preventing mortgage rates from going down even further, according to industry experts.
After increasing steadily for over a month, mortgage rates fell last week following a deposit run that provoked a liquidity crisis in regional U.S. financial institutions - and resulted in the failures of Silicon Valley Bank and Signature Bank.But what is there to expect ahead for the housing market?
Mortgage demand falls again as mortgage rates climb closer to 7%
It's proving to be a brutal February for the mortgage industry, with mortgage demand falling for the third time in four weeks.At a time when purchase activity typically ramps up, the latest mortgage application data is showing that mortgage demand is dropping due to mortgage rates climbing back up.Mortgage applications decreased 13.3% for the week ending February 17 compared to the previous week, according to the Mortgage Bankers Association.
Evergrande Group announces long-awaited debt restructuring deal after 2021 collapse
China's Evergrande Group, whose collapse in 2021 sparked China's worst property market crisis on record, has unveiled a multi-billion dollar restructuring plan to make peace with its international creditors.The long-awaited plan could set an important precedence for investors dealing with the growing defaults and restructuring in China's real estate industry.
Asia Pacific stocks rise as investor worries about global banking turmoil ease
Stocks in the Asia Pacific region rose Tuesday as concerns about the global banking sector eased in response to a whirlwind of intervention by policymakers and industry players.The S&P/ASX 200 in Australia jumped 1.3%, boosted by its AXFJ index, a measure of banking stocks, which surged 1.7%.In Hong Kong, the Hang Seng Index (HSI) opened up 0.8%.
Mortgage rates rose this week after four weeks of declines, as a stronger-than-expected jobs report suggested the Federal Reserve would continue hiking its benchmark lending rate in its battle against inflation.The 30-year fixed-rate mortgage averaged 6.12% in the week ending February 9, up from 6.09% the week before, according to data from Freddie Mac released Thursday.
Superbowl LVI was crypto's coming out party. This year, the party's over
Super Bowl LVI was the crypto world's coming out party.Buzzy firms made bold pitches last year, and shelled out millions of dollars on ads encouraging viewers not to be afraid of this new-fangled digital investment and for God's sake don't miss out on this exciting opportunity!You can expect a lot less noise from Team Crypto during Super Bowl LVII next Sunday.
The 'Sunday scaries' are all too real for many workers but there are simple ways to help | Andre Spicer
A few years ago, I was in the kitchen of a friend's house preparing for a meal.When we sat down to eat, my friend's wife wolfed down her supper and then disappeared into another room to do some work.He smiled and said: Sunday nights are the new Monday mornings around here.I was surprised at the time.
Jeremy Hunt: Why the chancellor wants this Budget to be boring
It will be something of a milestone for Jeremy Hunt to actually get to the point, on 15 March, where he can hold the famous red Budget box outside Number 11.Incredibly, he will become only the second of the past five chancellors to perform this rite.The other was, of course, Rishi Sunak, now his Downing Street neighbour and prime minister.
Sir Keir Starmer says he's not talking down UK economy
By Faisal Islam & Lucy Hooker
Economics editor & Business reporter
Sir Keir Starmer has said he is not "talking down" Britain when warning that Poland is on course to overtake the UK within a decade in terms of the size of its economy per person.The Labour leader was launching details of his party's "mission" to make the UK the fastest growing G7 economy.
Keep interest rates at 4% to help UK households, urges Bank of England policymaker
A senior Bank of England policymaker has said interest rates should be held at 4% amid signs of cooling inflation, rather than adding to pressure on households and businesses with a further rise in borrowing costs.Swati Dhingra, an external member of the Bank's rate-setting monetary policy committee (MPC), said higher borrowing costs would pose a material risk to the UK economy.
Jeremy Hunt's 2023 budget: five things to look out for
If it's headlines he's after, Jeremy Hunt has a tough act to follow when he delivers his budget on 15 March.It would be quite something for the chancellor to make as big a splash as his predecessor Kwasi Kwarteng did with his package of measures last September.Hunt will not mind having a lower profile.
Debt costs help push government borrowing to 30-year high
Government borrowing hit a new high in December, driven by the cost of supporting households with their energy bills and rising debt interest costs.Borrowing, the difference between spending and tax income, was £27.4bn,the most for any December since records began in 1993.Interest on government debt hit £17.3bn,
Bitcoin, Ethereum Technical Analysis: BTC Above $20,000, ETH Beyond $1,400 on Saturday Market Updates Bitcoin News
Bitcoin rose back above $20,000 on Saturday, despite markets still being spooked by the collapse of yet another banking institution.Silicon Valley Bank was shut down by U.S. regulators on Friday, causing many institutions to lose access to capital.This includes USDC issuer Circle, which led to a USDC depegging.
Data is king.It was a fact several years ago and it stands as a fact nowadays.For marketers, the problem is not to dive into all data; the key is trustworthy data.The dilemma is that, while having data that is measurable and useable, marketers must also accept that true measurement won't be coming from single source data points.
What is the Bitcoin Loophole, and how does it work?
Bitcoin Loophole facilitates Bitcoin ( BTC) trading through automated crypto trading software.It uses trading bots to help users make financially sound decisions in the crypto markets to make large chunks of profits.Cryptocurrency trading has gone mainstream, with traders making large sums of money in the market.
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Explain DC to Me Like I'm a Golden Retriever: The Debt Ceiling Standoff - Washingtonian
If recent news headlines have left you typing what is the debt ceiling or why does the debt ceiling matter into Google's search bar, you're not alone.The federal government reached its self-imposed $31.4 trillion borrowing limit on January 19, and some House Republicans are threatening to not raise this limit unless Democrats agree to make major spending cuts-something the White House says it won't do.