Month: January 2020

Not everyone is totally excited about DeFi. Volatile crypto is nurturing its fixed-income side. Crypto lending activity is growing on decentralized finance (DeFi) networks. Staking, where investors reap payments for locking up assets in functions essential to network protocols, is moving into crypto’s mainstream, with large crypto exchanges offering staking services for users.  Chart of
0 Comments
It was a record day in the municipal market in a couple of different ways, as yields descended further to new record lows on both the 10- and 30-year and the market saw the lowest yield ever for a 100-year bond. Primary marketMorgan Stanley priced the University of Southern California’s (Aa1/AA/ / ) $320 million
0 Comments
Tesla Inc CEO Elon Musk attends an opening ceremony for Tesla China-made Model Y program in Shanghai, China, January 7, 2020. Aly Song | Reuters Investors betting against Elon Musk’s electric-auto maker Tesla collectively lost more than $1 billion-plus on Thursday as the company’s stock rocketed higher after its better-than-expected earnings report. Tesla popped 11.4%
0 Comments
Today, financial institutions are harnessing the power of blockchain and digital asset technology and seeing tangible results.  At the 2020 World Economic Forum, Secretary of the Treasury, Steve Mnuchin, referenced this progress. He spoke about the impact of digital assets: “There are benefits to cross-border payment systems in lowering costs for consumers and businesses. We
0 Comments
Investment thesis Welcome to Orchid’s Gold Weekly report. We discuss gold prices through the lenses of the GraniteShares Gold Trust ETF (BAR). BAR has enjoyed stronger-than-expected upward pressure over the past week, which is essentially due to growing investor fears over the outbreak of the Coronavirus. While the net spec length in Comex gold is
0 Comments
Warren Buffett, Berkshire Hathaway Inc. chairman and chief executive officer, tosses a newspaper as he tours the exhibition floor during the Berkshire Hathaway Inc. annual shareholders meeting in Omaha, Nebraska. Daniel Acker | Bloomberg | Getty Images Warren Buffett’s Berkshire Hathaway is leaving the newspaper business and selling its operations to publisher Lee Enterprises for
0 Comments
Coinbase has hired a former vice president of product at Google to be its chief product officer.  Surojit Chatterjee spent 11 years at Google, where he worked on payments, adtech and commerce. He most recently led the continuing development of Google Shopping, a service available in more than 90 countries. Prior to that, he was
0 Comments
Global freelance marketplace goLance has no full-time employees. Instead the company is run by freelancers hired through its platform and CEO Michael Brooks spends a lot of time flying around the world meeting them along with other entrepreneurs who find work through the service. This gives him a unique insight into the needs of his
0 Comments
Harley-Davidson motorcycles are offered for sale at a Harley-Davidson dealership. Getty Images Check out the companies making headlines in midday trading. 3M — Shares of 3M fell 5% after the conglomerate missed Wall Street expectations on the top and bottom lines for its fourth-quarter results. 3M reported $1.95 in adjusted earnings per share and $8.111 billion
0 Comments
Mortgage rates fell to their lowest level since November, and that sent current borrowers and potential homebuyers rushing to their lenders. Overall mortgage application volume jumped 7.2% last week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The week’s results include an adjustment for the Martin Luther King Jr. holiday.
0 Comments
Domestic banks have been whipsawed in the last several years by changing incentives to hold munis. On the one hand, regulators provided flexibility on counting munis toward high-quality liquid assets (HQLA). On the other hand, the tax equivalent benefit equation was completely scrambled alongside changes to the corporate tax code. At the start of 2020,
0 Comments
This article was originally published a month ago. The discount valuation of the fund has become somewhat less attractive since then, though value still remains in our view. Lower yields, distribution cuts and tight discounts make for a difficult CEF investing environment. In this article, we take a look at the Wells Fargo Advantage Income
0 Comments
The US Securities Exchange Commission (SEC) has requested the deposition of a representative from Kik, the former messaging app that now focuses on cryptocurrency, in its longstanding wrangle, which claims that the Canadian company violated securities laws when it carried out an ICO in 2017. On January 23, a judge in the Southern District of
0 Comments
There is little doubt that blockchain and digital asset technologies will engender greater financial inclusion and economic growth—but to realize the full potential of this technology, clear regulatory frameworks are needed.  One such framework, New York’s BitLicense, was introduced in 2014 by Benjamin Lawsky, then New York State Superintendent of Financial Services. Lawsky is currently
0 Comments
Trading platform Uphold is now offering commission-free cryptocurrency trading, the company announced Tuesday.  Following in the footsteps of companies like Schwab and TD Ameritrade that have made trading free of commissions for customers in the traditional markets. Uphold CEO JP Thieriot said the move was based on Uphold’s ability to net trades at a lower
0 Comments
Standard Chartered has invested an undisclosed sum into Contour, a Corda-based blockchain trade platform, to streamline transaction settlement processes. Contour, which rebranded from Voltron last week, recently tapped R3’s Asia chief Carl Wegner as CEO in the run-up to a full commercial launch of its digitized letter-of-credit (LoC) service, which it claims reduced processing time
0 Comments