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Goldman Sachs wades into the equity derivatives hiring frenzy, poaching an up-and-coming trader from Barclays

“REUTERS/Danny Moloshok Goldman Sachs has waded into the equity derivatives hiring frenzy, poaching an up-and-coming trader from Barclays” writes Alex Morrell for businessinsider.com. Equity derivatives traders have become the focus of an intense Wall Street hiring battleground, with more than 40 moves at the level of vice president or higher in equity derivatives in the US this year.The bank has hired David Wernert, formerly an equity derivatives trader at Barclays focused on single-stock trading, according to people familiar with the matter.Goldman lagged behind peers, reporting equity trading revenues of $1.89…

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Crypto News Platforms Stocks 

Neufund partners with Malta Stock Exchange and Binance to create a decentralized global stock exchange

“The aim is to create a regulated and decentralized stock exchange for listing and trading tokenized securities alongside crypto assets” writes Stewart Rogers for venturebeat.com. Berlin-based Neufund has announced today that it is collaborating with MSX, the innovation vehicle of the Malta Stock Exchange (MSE) and is also partnering with cryptocurrency exchange Binance.The Malta Stock Exchange has recently announced a dedicated platform and a startup accelerator that will focus on DLT and blockchain technology initiatives, with financial support from Binance.According to CapLinked, the market cap of equity tokens alone is projected…

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Markets News 

More people are tapping equity—and other real estate trends

“Interest rates on HELOCs are variable and go up when the Federal Reserve raises short-term rates” writes Holden Lewis for marketwatch.com. You can point the finger at many causes for the housing shortage, and one of them is rising mortgage rates.And as mortgage rates rise, some homeowners will feel compelled to tap their equity rather than refinance or sell.Not everyone is convinced that mortgage rates will keep going up.It’s called rate lock-in: Homeowners are reluctant to sell their homes and abandon their sweet mortgage rates. Source: marketwatch.com Share This:

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BANK OF AMERICA: A ‘summer pain trade’ is coming for investors with a rosy view of the global economy

“Also, BAML’s equity strategists still maintain a year-end target of 3,000, implying the market would rise about 7% from current levels” writes Akin Oyedele for businessinsider.com. Bank of America Merrill Lynch is telling its super-rich clients to get ready to sell any stock market rallies this summer.It’s normally a contrarian indicator, but BAML’s quant and equity strategists say there are longer-term reasons for caution on stocks.The quant and equity strategists ticked off the most recent one this week, after they observed that low-quality stocks — companies with the highest debt…

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Infosys’s stock set to pull back sharply from from 18-year high after Q1 results

“Separately, the company said it approved a bonus issue of one equity share for each equity share held, as well as a stock dividend of one American Depositary Share (ADS) for every ADS held” writes Reporter Editor for marketwatch.com. Operating margins of 23.7% was at “the upper quartile of the guidance,” while fiscal 2019 guidance was maintained at 22% to 24%. Source: marketwatch.com Share This:

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Markets News 

Citigroup trading results mixed as weak fixed income weighs against strong equity trading

“Equity markets revenue rose 19% to 4864 million, reflecting market volatility” writes Ciara Linnane for marketwatch.com. Securities services revenue rose 12% to $665 million.C, +0.88% posted mixed results from trading Friday, with its markets and securities revenue falling 1% to $4.5 billion in the second quarter as strong growth in equity markets and securities services was more than offset by a decline in fixed income markets.The bank said fixed income revenue fell 6% to $3.1 billion, driven by “a more challenging market environment” and a difficult comparison with the year-earlier…

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Walmart reportedly wants to sell Japanese supermarket chain Seiyu

“U.S. retailer Walmart Inc has decided to sell Japanese supermarket chain Seiyu and has already approached major retailers and private equity funds, the Nikkei business daily reported on Thursday” writes Scott Olson for cnbc.com. Walmart has been looking to jumpstart its overseas business by retreating from lower-growth markets and investing in places like China and India.In addition to competition from online retailers such as Amazon.com, retailers in Japan are grappling with sluggish consumer spending as the country struggles to escape from 15 years of deflation. Source: cnbc.com Share This:

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Citi has poached a quant trading exec from Credit Suisse as Wall Street’s equity derivatives hiring binge continues

“Equity derivatives traders have become the focus of an intense Wall Street hiring battleground, with more than 40 moves at the level of vice president or higher in equity derivatives in the US this year” writes Alex Morrell for businessinsider.com. Matthias Hangst/Getty Images Citigroup has hired a quant trading and derivatives exec from Credit Suisse, the latest in the rash of equity derivatives moves across Wall Street.Jeff Berton joins Citigroup as a quant and derivatives trading exec on its markets team. Source: businessinsider.com Share This:

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MACQUARIE: A key indicator used by Wall Street to predict recessions has been calling things wrong for decades

“As one would expect, we find that equity prices have historically declined significantly around recessions (as defined by the NBER)” writes Will Martin for businessinsider.com. “While equity prices are likely to fall once a recession arrives, there is little historical evidence to suggest that equity markets lead recessions.”. “However, this does not account for the numerous false signals exhibited by equity market peaks taking place between recessions.”. Macquarie points to several clear examples of major stock market falls from a peak — a widely watched recession indicator — where no…

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Skiing a model for equity says top earner Shiffrin

“LOS ANGELES (Reuters) – The world’s best overall women’s ski racer Mikaela Shiffrin, who for the second successive year was the highest paid athlete in the sport, said Alpine skiing can serve as a model for equal pay” writes Midwest Communications Inc for 95kqds.com. “To have the opportunity as a girl in ski racing to win as much or more prize money as her male counterparts is a testament to the sport. Source: 95kqds.com Share This:

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