News Oil 

The founder of a satellite imagery startup aiming to raise £20 million this year tells us how he is changing the commodity industry

“Scotland-based Bird.i is a satellite imagery startup whose analysis has propelled founder Corentin Guillo into boardrooms with major financial firms and changed the way and speed at which commodity traders work” writes Camilla Hodgson for businessinsider.com. Aggregating all this information allows Bird.i to provide traders with estimates of a country’s oil production, storage and exports. Source: businessinsider.com Share This:

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Markets News 

Wall Street traders brace for meager bonus checks

“While $0 bonus checks are still relatively rare, Wall Street banks are trying hard to keep a lid on compensation costs more broadly” reports foxbusiness.com. Some traders at the largest Wall Street banks are about to get big, fat zeroes for bonuses while they watch markets thrive. “We foresee a softening in the bonuses at the Wall Street banks,” he said.The big five Wall Street banks – JPMorgan Chase & Co, Citigroup, Bank of America, Goldman Sachs and Morgan Stanley – reported an average revenue decline of 32 percent for…

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Markets News 

Some Wall Street traders are about to get big, fat zeroes for bonuses

“Some traders at the largest Wall Street banks are about to get big, fat zeroes for bonuses while they watch markets thrive” writes unknown author for cnbc.com. “We foresee a softening in the bonuses at the Wall Street banks,” he said.While $0 bonus checks are still relatively rare, Wall Street banks are trying hard to keep a lid on compensation costs more broadly.The big five Wall Street banks – JPMorgan Chase, Citigroup, Bank of America, Goldman Sachs, and Morgan Stanley – reported an average revenue decline of 32 percent for…

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Crypto Markets News Stocks 

How trading bitcoin could actually ruin your mental health

“Cryptocurrency traders are actually experiencing similar emotions to those of traders in the stock market during major bubbles and busts, researchers suggest” writes Maria Lamagna for marketwatch.com. When studying the effects of the 2008 stock market crash, they found that those who lost wealth had increased feelings of depression and use of antidepressant drugs.But at least among some traders, the wildly fluctuating prices of cryptocurrencies — including Bitcoin BTCUSD, -2.35% Ripple and Ethereum — are taking their toll.A sudden loss of wealth was tied to a decline in subjective measures…

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Crypto News 

Day traders tempted by bitcoin’s recent plunge are going to ‘get slaughtered,’ says blockchain entrepreneur

“In addition to running a business based on blockchain, the online ledger technology underlying bitcoin and other digital coins, Novaes said he’s an investor who is “long cryptocurrencies.”” writes Matthew J for cnbc.com. But Novaes, who has profited as an early adopter, said it’s not too late to buy into the various coins.His company, whose initial investors include billionaire Mark Cuban, provides an all-in-one platform for popular streaming services such as Spotify and SoundCloud.It also offers users a way to earn cryptocurrency to reduce or eliminate subscription costs. Source: cnbc.com Share…

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News Oil 

Oil retreats from 3-year high as traders await supply data

“Oil prices finished lower Tuesday, pulling back from three-year highs as traders awaited data due later this week on U.S. crude supplies and production” writes Christopher Alessi for marketwatch.com. Commitment to output cuts led by the Organization of the Petroleum Exporting Countries is “stronger than ever.” Even as oil prices see some “Tuesday profit-taking, the oil bears are having to throw in the towel,” Flynn said.Price Futures Group expects U.S. crude supplies to be down 3.5 million barrels.The oil market is sending signals that it “won’t raise production even as…

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Crypto News 

Gold notches highest close since early September

“April platinum PLJ8, +0.93% added 0.9% to $1,004.90 an ounce, for its highest finish since early September” writes Markets Commodities Reporter for marketwatch.com. A weaker dollar can boost the appeal of gold as an investment, as most commodities are priced in dollars.Gold is highly sensitive to rising rates, which increase the opportunity cost of holding nonyielding bullion.Gold, which returned to levels last seen in mid-September in recent trading sessions, last week tallied a fifth week of consecutive gains, the longest such stretch since April. Source: marketwatch.com Share This:

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Crypto News 

Kraken Bitcoin Exchange Reopens After Two Anxious Days

“Kraken, along with Coinbase, are showing that a bitcoin exchange can be professional, trustworthy, and regulated” writes David Z for fortune.com. Gox, then the world’s largest Bitcoin exchange.It’s a happy ending to what some feared could become yet another in a line of ignominious cryptocurrency exchange collapses.There is still, though, a gigantic elephant in the room — Bitfinex, the world’s largest cryptocurrency exchange, is still the target of serious skepticism.Kraken, a major North American cryptocurrency exchange and the fifth-largest globally, came back online Saturday after an exceptionally long maintenance outage…

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Markets News Stocks 

A dangerous trade that reminds experts of the 1987 market crash is riskier than ever

“Simply summarized, the VIX ETP market currently has more net exposure to short volatility strategies than to long ones, and that’s rare” writes Joe Ciolli for businessinsider.com. The trade in question is the shorting of stock market volatility using exchange-traded products (ETPs), and the situation has reached an extreme only seen once before in history.The comments echoed those made by Bokobza a couple of weeks prior, when he maligned the “dangerous volatility regimes” in the global marketplace. “Particularly as a volatility spike would likely be short-lived as long as economic…

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