Author: FX
From an outside perspective, 2022 has been a rollercoaster ride for crypto. The market reached a total valuation of $3 trillion during the bull market of 2021, only to scale back to its current level of around $810 billion. While this poor performance can be partly attributed to the pervading macroeconomic environment — compounded by rising inflation rates and the ongoing Ukraine-Russia conflict, among other factors — one cannot deny the role that the recent slew of insolvencies has had on the sector. That said, below is a list of arguably the most notable heroes and villains who have undeniably…
© Reuters The chaos we’ve experienced in global markets this year — global geopolitical upheaval magnified by the confluence of broken supply chains, inflation and heavy national debt loads — seems to signal the beginning of a new era. All of this is within the context of the United States dollar serving as the primary global reserve currency, currently accounting for about 40% of global exports. But monetary history tells us that multiple global reserve currencies can exist at one time. Many countries are actively seeking a reserve settlement that is insulated from global political strife. (BTC) may fit the…
Caroline Ellison, the former chief executive officer of Alameda Research, said as part of her plea deal that she was aware FTX funds had been made available for the venture capital firm’s investments. In a transcript of proceedings for her plea deal in the Southern District of New York released on Dec. 23, Ellison acknowledged the financial ties between FTX and Alameda at the center of prosecutors’ case against former FTX CEO Sam Bankman-Fried. According to the former Alameda CEO, Alameda had access to a “borrowing facility” through FTX from 2019 to 2022. Continue Reading on Coin Telegraph Source link
Krisada tepkulmanont/E+ via Getty Images Amid inflation concerns and economic uncertainty going into 2023, one health care sector is poised to reap dividends for investors: med-tech companies. That’s the assessment from Canaccord Genuity’s William Plovanic who calls med-tech “a defensive sector with improving fundamentals.” He is particularly bullish on companies in the sector focused on cardiovascular, neuromodulation, respiratory, ophthalmology, oncology, and organ transplant. “We expect durable demand despite a potentially looming recession,” Plovanic wrote in a recent note to investors. “We expect that growth could accelerate in 2H/23 as [foreign exchange] headwinds annualize and healthcare staffing issues gradually decline.” He…
KanawatTH 2022 marked one of the most catastrophic years for the cryptocurrency ecosystem, with major tokens such as bitcoin (BTC-USD) and ethereum (ETH-USD) erasing huge multi-year gains in the wake of industry-wide pain. Seeking Alpha summed up the year in the timeline below featuring the collapses of formerly prominent crypto-related firms. A number of the companies suffered from a liquidity crunch triggered by the sudden drop in bitcoin (BTC-USD) and other coins. July: Crypto hedge fund Three Arrows Capital, also called 3AC, filed for bankruptcy protection as the drop in digital asset prices, spurred in part by the abrupt downfall…
Lubo Ivanko/iStock via Getty Images The Industrial Select Sector SPDR (XLI) ended its two week losing streak and finished the week ending Dec. 23 in the green (+0.30%). XLI was among the six, out of the 11 S&P 500 sectors which rounded up the week seeing gains. However, the SPDR S&P 500 Trust ETF (SPY) fell (-0.09%) for the third week in a row as investor sentiment remained dampened. Money manager Sarat Sethi noted that a weak 2022 will likely close with rounds of tax selling and window dressing. Meanwhile, there were some positive signs for the economy as Q3…
May Lim/iStock via Getty Images Equity REITs fell 0.15% in the week ahead of the Christmas festive season, while mortgage REITs gained 2.13% of value. Hotel REITs were major laggards among the subsectors, having lost 4.38% of their value in the week ending Dec. 23. The consensus is negative on the sector, according to a research report by Baird Equity. In the Insights from Investor Sentiment Survey by the organization, 65% of respondents identified the sector as Underweight. For 2023, 80% of investors expect Hotel REIT stocks to underperform. Industrial REITs were comparatively better off this week, having finished 0.97%…
Kuroda filled the Christmas stockings of anyone long yen last week. If you missed that, we hope that Santa Claus brings you something special.Trading on Monday will be extremely thin and it will be choppy all next week as the year winds down. Have a look at the economic calendar to see what’s coming up.Merry Christmas from all of us!ADVERTISEMENT – CONTINUE READING BELOW Source link
monsitj This week’s five top gainers in financial stocks featured three Japanese lenders after the Bank of Japan unexpectedly widened its yield curve control tolerance range. Among the five biggest decliners were two mortgage lenders, two investment managers and one provider of financial data and analytics. Mitsubishi UFG Financial Group (NYSE:MUFG), Japan’s largest bank, shot up 21% in the week ending December 23, as it considered further share buybacks and acquisitions; Grupo Financiero Galicia S.A. (NASDAQ:GGAL), a bank located in Argentina, jumped 20.9%; Sumitomo Mitsui Financial Group (NYSE:SMFG), another Japanese megabank, climbed 18.7% after the BoJ’s move prompted speculation that…
3/3 © Reuters. A man reacts while holding a photograph of Mir Perwer (Mehmet Sirin Aydin), who was killed in a shooting, as members of the Kurdish community gather at Place de la Republique square, in Paris, France December 24, 2022. REUTERS/Sarah Meyssonnier 2/3 By Manuel Ausloos and Antony Paone PARIS (Reuters) -Clashes broke out for a second day in Paris on Saturday between police and members of the Kurdish community angry at the killing on Friday of three members of their community. Cars were overturned, at least one vehicle was burned and small fires set alight near Republic Square,…