United States


Powell stays calm - and alarms global markets

Powell stays calm - and alarms global markets

(ATF) Federal Reserve chairman Jerome Powell took a calm approach to recent Treasury volatility on Thursday March 4, prompting another spike in bond yields and selling of tech stocks.The benchmark 10-year US Treasury yield rose to close Thursday at 1.56% – close to the 1.61% level hit during a wave …

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Renewed Treasury spike puts spotlight on Powell

Renewed Treasury spike puts spotlight on Powell

(ATF) Federal Reserve chairman Jerome Powell will speak on Thursday after Treasury yields drove up again on Wednesday March 3, pushing the Nasdaq down almost 3% and renewing the global investor debate about relative value across asset classes.The benchmark 10-year US Treasury yield pushed out to almost 1.5% - well …

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SEC nominee Gensler vows GameStop review as Rocket shares soar

SEC nominee Gensler vows GameStop review as Rocket shares soar

(ATF) Gary Gensler, Biden’s nominee to lead the Securities and Exchange Commission (SEC), said at his Senate confirmation hearing on Tuesday March 2 that he would look into whether retail investors get the best prices when brokers are paid for their order flow.Gensler also said the SEC would explore issues …

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Biden’s Treasury deputy nominee urges tough line on China

Biden's Treasury deputy nominee urges tough line on China

(ATF) Wally Adeyemo, Biden’s nominee as deputy Treasury secretary, said on Tuesday February 23 that the US should work with allies to hold China accountable to international rules and ensure a level playing field for corporations.“China is our top strategic competitor,” Adeyemo told a confirmation hearing by the Senate finance …

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HSBC to focus on wealth management across Asia

HSBC to focus on wealth management across Asia

(ATF) HSBC plans to plough $6 billion into its operations across Asia and focus on targeting wealth management in the region where it makes most of its profit.Europe's biggest bank reported a 30% plunge in profit for 2020 – $6.1 billion after tax, a result that stemmed mainly from the …

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Polar vortex-induced oil spike to fade, supply dynamics return

Polar vortex induced oil spike to fade

(ATF) Oil’s surge to 13-month peaks will be shortlived, analysts say, as the polar vortex that has hit the US Midwest and Gulf regions is expected to give way to better weather by the weekend, when normal supply and demand dynamics of the sector should return.Brent crude climbed 89 cents, …

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US warns delay on approving UN ambassador only helps China

US warns delay on approving UN ambassador only helps China

(ATF) The US administration warned the Senate on February 3 that delaying a nominee for ambassador to the United Nations lets China off the hook at the global forum.After a vote on President Joe Biden's nominee Linda Thomas-Greenfield was delayed, State Department spokesman Ned Price said on Wednesday that leaving …

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Robinhood sparks controversy with trading limits, Korean fund opts out

Robinhood sparks controversy with trading limits, Koreans opt out

(ATF) US online brokers such as Robinhood and Interactive restricted trading on Thursday in stocks that surged on the back of retail buying coordinated on Reddit. The move sparked controversy in the US, and came as it emerged South Korean fund MUST closed a long GameStop position.GameStop, the company whose …

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Top Glove joins Reddit surge as GameStop rebounds

Top Glove joins Reddit surge as GameStop rebounds

(ATF) Top Glove, the Malaysian latex glove maker, saw its stock rise over 8% on Friday January 29 after a Reddit forum called BursaBets pitched the firm as a successor to GameStop to rally. GameStop has seen another surge in overnight US dealing after Robinhood relaxed limits on trading.GameStop stock …

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Biden era begins with 15 executive orders to replace Trump policies

Biden era begins with executive orders to replace Trump policies

(ATF) President Joe Biden started his administration by signing 15 executive actions addressing the coronavirus pandemic, climate change and racial inequality on Wednesday January 20; as US equity indices hit new highs on anticipation of his $1.9 trillion stimulus package.Biden’s orders initiate the process of the United States rejoining the …

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