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  • Mike T 12:58 on March 27, 2015 Permalink | Reply
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    Hedge Fund News Wrap: Week Ending 03/27/15 

    Former Fed Official Stein Brings Credit Bubble Expertise to Hedge Fund
    (Forbes) – BlueMountain Capital, the credit-focused hedge fund that profited from JPMorgan Chase’s London Whale trading fiasco in 2012, said on Tuesday former Federal Reserve Governor Jeremy Stein will begin advising the firm on monetary policy, regulation and financial market changes. The consulting arrangement pairs one of the largest credit investors with Stein, who in his brief time at the Fed, warned about bubbles and the unintended consequences of the central bank’s post-crisis easing efforts.

    Stein, who was a Fed governor between May 2012 and May 2014, is being taken on by BlueMountain as a consultant and is expected to advise the hedge fund on interest rate moves, Federal Reserve actions, and potential investment opportunities, particularly at times when markets become dislocated. The consulting gig may be a perfect fit for Stein given his belief the Federal Reserve can use monetary policy to curb asset bubbles, particularly in the credit markets where BlueMountain is considered a savvy and contrarian investor. (More …)

     
  • Mike T 15:21 on March 25, 2015 Permalink | Reply
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    Economic Analysis – Week of March 25, 2015 

    Although the Fed has removed “patient” from its statement, it has signaled it remains dovish due to the deceleration of the economy. Its projections have been decreased for unemployment, GDP growth and inflation. Manufacturing and housing have both been weak recently. Housing starts dropped decidedly in February, but it is difficult to gauge the effect of the record-breaking weather. Reduced energy costs have had an enormous effect on prices, which have been one of the catalysts in declining factory orders for six straight months. Econoday’s consensus is for a slight uptick in headline and core inflation for last month.

    More analysis of this week’s news by Econoday’s Senior Economist Mark Rogers:

    Econoday reports, available on TradingScreen’s award-winning TradeSmart EMS, provide alerts on upcoming economic announcements, and jargon-free analysis of their potential market impact. Mark Rogers, Senior Economist for U.S. markets, has over 19 years of experience with the Federal Reserve Bank of Atlanta as an economist and forecaster for national and regional economies.

    Click to learn about getting access to Econoday’s economic reports on TradingScreen.

     
  • Mike T 10:33 on March 23, 2015 Permalink | Reply
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    TradingScreen's Morning Roundup 

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  • Mike T 10:34 on March 20, 2015 Permalink | Reply
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    Hedge Fund News Wrap: Week Ending 03/20/15 

    (DealBook) – The nasty battle between Argentina and a group of New York hedge funds has claimed another victim: Citigroup.

    The bank said on Tuesday that it would shut its custody business in Argentina after a federal judge in New York last week rejected its request to lift an order that prevented the bank from making interest payments to investors holding $2.3 billion in Argentine notes.

    Citing an “unprecedented international conflict of laws,” Citigroup said its Argentine branch was making plans to close the custody business “as soon as possible,” according to a statement emailed on Tuesday. It will continue to pursue “all legal remedies,” the bank added.

    The bruising defeat for Citigroup follows a decision by Judge Thomas P. Griesa of the Federal District Court in Manhattan last summer to block all interest payments on Argentine debt, a ruling that set off Argentina’s default last July 31. (More …)

     
  • Mike T 10:36 on March 18, 2015 Permalink | Reply
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    Economic Analysis – Week of March 18, 2015 

    Sluggish growth in Asia and recessions in areas of Europe have had a negative impact on US manufacturing, which has declined for three straight months. Industrial production benefited from a substantial rise in utilities, while housing has been disappointing. The Fed will be added deliberation at the Fed, as the FOMC statement is released today.

    More analysis of this week’s news by Econoday’s Senior Economist Mark Rogers:

    Econoday reports, available on TradingScreen’s award-winning TradeSmart EMS, provide alerts on upcoming economic announcements, and jargon-free analysis of their potential market impact. Mark Rogers, Senior Economist for U.S. markets, has over 19 years of experience with the Federal Reserve Bank of Atlanta as an economist and forecaster for national and regional economies.

    Click to learn about getting access to Econoday’s economic reports on TradingScreen.

     
  • Mike T 10:44 on March 16, 2015 Permalink | Reply
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    TradingScreen's Morning Roundup 

    Key Regulatory Developments

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  • Mike T 11:57 on March 13, 2015 Permalink | Reply
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    Hedge Fund News Wrap: Week Ending 03/13/15 

    G.M. to Buy Back $5 Billion of Its Stock

    (DealBook) – After a rough 2014 punctuated by a record number of safety recalls, the last thing General Motors needed was a prolonged proxy fight with unhappy shareholders.

    So G.M. on Monday moved to defuse a potentially distracting battle with dissident investors by approving a plan to buy back $5 billion in stock that is intended to improve its stagnant share price.

    The decision to dip into its cash reserves to finance a buyback came after weeks of discussions between G.M. and an investment group led by Harry J. Wilson, a member of the government task force that administered the company’s $49 billion bailout in 2009.

    Last month, Mr. Wilson told G.M.’s chief executive, Mary T. Barra, that he was heading an effort by hedge fund investors to prod the automaker to share its $25 billion cash hoard with stockholders. (More …)

     
  • Mike T 12:13 on March 11, 2015 Permalink | Reply
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    Economic Analysis – Week of March 11, 2015 

    The jobs report was better than anticipated, increasing the possibility that the Fed will raise rates in June. Manufacturing and construction slowed, but the BLS has stated that this was largely the result of the strike on the West Coast. Employment has grown in lower-wage sectors faster than in high-rage sectors. Job openings have increased slightly while the quit rate, a good indicator for people’s perception of the economy, has been somewhat favorable.

    More analysis of this week’s news by Econoday’s Senior Economist Mark Rogers:

    Econoday reports, available on TradingScreen’s award-winning TradeSmart EMS, provide alerts on upcoming economic announcements, and jargon-free analysis of their potential market impact. Mark Rogers, Senior Economist for U.S. markets, has over 19 years of experience with the Federal Reserve Bank of Atlanta as an economist and forecaster for national and regional economies.

    Click to learn about getting access to Econoday’s economic reports on TradingScreen.

     
  • Mike T 10:23 on March 9, 2015 Permalink | Reply
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    TradingScreen's Morning Roundup 

  • At Goldman Sachs, Stress Test Results Could Endanger an Important Profit Source
  • Treasury Unprepared for Financial Crash – Report
  • Bank Inspectors Beckon Ireland’s Shadow Lenders into the Light
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