China has cut its benchmark rate for mortgage lending for the first time in nearly two years, adding to a cycle of gradual monetary easing as policymakers seek to counter a loss of economic momentum. The five-year loan prime rate, which is typically used to price mortgages, was lowered from 4.65 per cent to 4.6
Month: January 2022
You can enable subtitles (captions) in the video player At the start of last year someone paid $200,000 for a video highlight of a LeBron James dunk. Here comes LBJ. The sale sparked a wave of headlines about digital collectibles and the NFTs that make them possible. This year NFTs for sports media are expected
Amid the millions of new retail investors during the pandemic and concerns about Americans’ low financial literacy, FINRA plans to issue a regulatory notice about cryptocurrency. The guidance to more than 3,400 firms and 617,000 registered representatives overseen by FINRA will cover “the rules around the sale of crypto assets by or through our member
Sharing is Caring! by Michael Snyder Death is in the air. Unless you have been living in a cave for the past 12 months, you already know that this is true. Old people are dying, young people are dying, famous people are dying, and countless hard working Americans that make up the backbone of our
Recently, Cointelegraph spoke to Miami Mayor Francis Suarez following the announcement that Miami residents with a digital wallet can earn a Bitcoin dividend. The company that sets up the infrastructure to get Bitcoin dividends into the hands of citizens is CityCoins, an open-source protocol that provides fundraising mechanisms for cities. Miami and New York City
There’s nothing like the view of snow-covered ski runs to whet one’s appetite for an easy-care vacation getaway. This stone and wood-sided residence at the Chalet at the Lodge at Vail 2 takes in south-facing vistas of the Gore Range and the slopes in Vail, Colorado. Set near Vail Ski Resort’s Gondola One and the
On Wednesday, the Secret Network announced the launch of a $400 million fund in order to expand the application layer and provide grants to ecosystem participants that accelerate user adoption. The market capitalization for the network’s native token SCRT is the third-largest privacy-centric crypto asset market today with a $1.4 billion market cap. SCRT Labs
Decentral Park Capital, an early-stage investment firm, now with $140 million in assets under management, has launched a brand new $75 million fund to invest in DeFi initiatives. This fund aims to deploy funds to invest in decentralized exchanges, lending protocols, derivatives, structured products, oracles, staking, and middleware infrastructure. The money pouring into decentralized finance
Let me suggest two excellent money moves. You’ll enjoy tax deferral — inside buildup in which the asset-income you earn on your balances accumulate tax-free. You also get to time your IRA withdrawals to years when your marginal tax bracket is low. Like many, if not most, Americans, you probably are holding much of your
Municipals faced another weaker day with benchmark yield curves seeing two to four basis point cuts, underperforming a slightly better U.S. Treasury market, while equities ended in the red. Munis played catch up to the large selloff in Treasuries since Friday, holding municipal to UST ratios steady. The five-year was at 54%, 68% in 10
Editor’s Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today’s must-read news and expert opinions. Sign up here! (Kitco News) – Pan American Silver (TSX: PAAS) reported Wednesday that its consolidated silver production of 19.2 million ounces in 2021 was 11%
No, you’re not imagining it. Some grocery store shelves are bare again, conjuring bad memories of… by Michael Snyder of The Economic Collapse Blog The term “return to normal” is being thrown around a lot these days, but will things ever truly return to the way that they were before the pandemic came along? I don’t think
The S&P 500 Index has long been one of the best-known proxies for the U.S. stock market, and several mutual funds and exchange-traded funds (ETFs) that passively track the index have become popular investment vehicles. These funds do not seek to outperform the index through active trading, stock picking, or market timing but instead rely
Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), speaks during a Senate Banking, Housing and Urban Affairs Committee hearing in Washington, D.C., U.S., on Tuesday, Sept. 14, 2021. Bill Clark | Bloomberg | Getty Images Securities and Exchange Commission Chairman Gary Gensler said Wednesday that the regulator is eyeing tighter disclosure deadlines for hedge
Joe Biden backed the Federal Reserve’s shift towards tighter monetary policy to fight inflation as the US president opened his first formal press conference in several months with a vow to rein in higher prices afflicting the economic recovery. “Given the strength of our economy and the pace of recent price increases, it is appropriate,
Good morning. US bank Morgan Stanley lifted a crucial profitability target as the Wall Street company seeks to expand its business beyond investment banking and trading and increase the assets in its wealth management arm to $10tn. The bank gave the update on Wednesday as it reported a 10 per cent rise in profits for
Financial firms need to take more cues from Silicon Valley, according to Charles Schwab Corp. Chief Executive Officer Walt Bettinger. Consumers want their banks and brokerages to offer technology with the same level of personalization they get from ride-hailing and food-delivery apps, Bettinger said in a wide-ranging interview after Schwab reported fourth-quarter results this week.
In this article USB PG UNH STT MS SOFI Pampers Diapers, which are manufactured by Procter & Gamble, are displayed in an Associated Supermarket in New York. Ramin Talai | Bloomberg | Getty Images Check out the companies making headlines in midday trading. SoFi – Shares of the mobile financial services company surged 13.7% after
Sharing is Caring! by confoundedinterest17 Massive Federal stimulus (both fiscal and monetary) have led to bidding wars among the wealthiest Americans. Despite clamoring for The Fed to increase rates and speed-up the shrinking of The Fed’s balance sheet, nothing has happened … yet. (Bloomberg) — Home buyers willing to spend almost a $1 million are competing
Are future prices written in the stars? Meet Maren Altman, presciently named for cryptocurrency, who combines astrology and day trading crypto into a winning blend. In 1973, Princeton University professor Burton Malkiel published his book A Random Walk Down Wall Street, in which he famously states that a “blindfolded monkey throwing darts at a newspaper’s
An ‘Open House’ sign is displayed as potential home buyers arrive at a property for sale in Columbus, Ohio. Ty Wright | Bloomberg | Getty Images Mortgage rates are rushing higher, and last week that caused a major divergence in mortgage demand. Refinancing continued to dry up, but homebuyers appear to be rushing into the
Cryptocurrency ATMs have closed down in Singapore following the guidelines issued by the central bank, the Monetary Authority of Singapore (MAS). “To comply with the sudden announcement, we have ceased to offer buy or sell services via our five ATMs while seeking further clarification from the MAS,” said one crypto ATM operator. Crypto ATMs Shut
Your friend or family member has named you as trustee of their trust. What do you do next? Some people who serve as trustees do what they think they are supposed to do – without a true understanding of the role – or worse, whatever they want to do. In reality, accepting the role of
Senate Banking Chair Sherrod Brown plans an early February hearing for President Joe Biden’s three most recent Federal Reserve picks and said he expects bipartisan confirmations of all five nominees to the central bank’s board. The nominations of Sarah Bloom Raskin for vice chair of supervision as well as Lisa Cook and Philip Jefferson for
MarketWatch Oil prices have surged, but here’s why one fund manager warns they’ve gone too far If there’s one place to hide in the current market turmoil, it’s been in the energy sector, as oil prices (CL) have surged to eight-year highs. RBC Capital Markets, for instance, just threw in the towel on its underperform
Have we discovered a new gold price manipulation technique? by Craig Hemke via Sprott Money News Back in November, we noticed a surge in COMEX gold “Trade at Settlement” volume. This occurred at a time when total contract open interest and price were also rising, and it all preceded a sharp reversal in price two
What will Social Security look like when you retire? Many Americans have lost hope that there will be anything to see. According to a 2021 Gallup poll, 43% of individuals surveyed said they worry a great deal about the Social Security system. The same survey also revealed that 38% of individuals said they believe Social Security is
Morgan Stanley headquarters in New York. The bank reported strong wealth management business, up 10 per cent to $6.25bn from $5.7bn a year earlier © Gabriel Pevide/Getty Images for Morgan Stanley Morgan Stanley’s investment banking revenues rose 6 per cent in the fourth quarter, a more modest rise than some rivals enjoyed during a record
Your browser does not support playing this file but you can still download the MP3 file to play locally. This edition features these stories from ft.com Conservative MP defects to Labour in further blow to Boris Johnson Bank of America profit surges as loan growth inches higher ByteDance disbands investment team amid China’s Big Tech clampdown
Last year at Invesco we operated in the midst of the COVID-19 pandemic with much uncertainty, and many questions about how we would move forward and when we would resume our old routines. Now in 2022, with the pandemic still with us, we’ve realized that we need to, as a 2021 McKinsey study put it,
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