Author: FX

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It looks as if the bear cycle is going to claim another high-profile crypto company. On Jan. 19, Digital Currency Group’s (DCG’s) lending subsidiary, Genesis, filed for Chapter 11 bankruptcy. Here we have yet another industry giant with a tale of incestuous lending, little risk management to speak of and opaque reporting policies. For market participants, the gathering storm clouds at DCG represent a failure that would have been unthinkable in 2021. Founded by CEO Barry Silbert in 2015, DCG has become a mainstay in crypto’s short existence. Genesis’ filing revealed the full extent of creditors affected by its implosion,…

Dutch central bank governor and hence a European Central Bank Governing Council member, Klaas Knot, gave two separate interviews on Sunday. He said, when speaking with Dutch broadcaster WNL:”Expect us to raise rates by 0.5% in February and March and expect us to not be done by then and that more steps will follow in May and June”And, from an interview with Italian newspaper La Stampa also published Sunday: “too early to tell” if the ECB could slow down the pace of its rate increases by the summer.”At some point, of course, the risks surrounding the inflation outlook will become…

gorodenkoff For 2022, the hedge fund industry experienced the largest net asset outflow in six years as investors steered clear of active managers against a backdrop of exceptionally volatile and depreciating markets. The capital flight of $55.4B was the largest since the $70.1B mark in 2016, according to a recent Hedge Fund Research report, which collected data between 1991-2022. Going back further, though, net outflows reached a record $154.5B in 2008, during the height of the Great Recession, before easing somewhat to $131.2B in 2009. Net asset flows were notably positive in 2021 ($15.12B), a year when a raft of…

4/4 © Reuters. Somali policemen prepare to take their positions near the mayor’s office following a blast in Mogadishu, Somalia January 22, 2023. REUTERS/Feisal Omar 2/4 By Abdi Sheikh MOGADISHU (Reuters) -Islamist fighters set off a bomb then stormed a government building in Somalia’s capital on Sunday, killing at least five civilians, the ministry of information said. Attackers from the al Shabaab group charged into the block that houses the office of Mogadishu’s mayor around noon and got caught in a firefight with security forces, the ministry and witnesses said. Security killed six of the militants and cleared the area…

© Reuters. FILE PHOTO: U.S. Vice President Kamala Harris participates in a roundtable discussing women?s issues, rights and empowerment at Sofitel Manila, Philippines, Nov. 21, 2022. Haiyun Jiang/Pool via REUTERS/File Photo By Nandita Bose WASHINGTON (Reuters) – Democratic Vice President Kamala Harris said abortion rights are under attack across the United States in a speech Sunday marking the 50th anniversary of Roe v. Wade, the Supreme Court decision that had established a right to abortion until it was overturned last year. “The right of every woman in every state in the country to make decisions about her own body is…

Selcuk1/E+ via Getty Images The global pharmaceutical expenditure is expected to exceed $1.9T by 2027 based on the list prices, the latest industry report from the drug analytics and contract research organization IQVIA Holdings (IQV) indicates. The estimate, which excludes the spending on COVID-19 vaccines and therapeutics, marks an increase from ~$1.5T in 2022 and implies a compound annual growth rate of 3% – 6% over the period. Pandemic impact: The report “The global use of medicines 2023,” prepared by IQVIA’s (IQV) data analytics unit IQVIA Institute for Human Data Science and launched last week, also points to the pandemic’s…

Fed’s Waller was the last Fed official to speak before the blackout period for the Fed ahead of their interest rate decision. In his question and answer he broke down a wall that other Fed officials have been reluctant to do and it led to some added optimism in the US stock market to close the week.In this report I not only speak to Fed and Waller and wall, but also review ALL the major currency pairs vs the USD and outline the wall that are in the way technically or that were broken giving traders the bias and targets…