Markets News 

Funding market strains resurface as repo rates stay elevated

“The overnight repo rate spiked as high as 2.26%, according to one estimate” writes Sunny Oh for marketwatch.com. The repo rate usually closely tracks the central bank’s benchmark interest rate as they both are considered sources of short-term borrowing.This compared with the effective fed funds rate, which stood at 1.90% on Oct. 15.Strains in short-term lending markets popped up again on Wednesday as the cost of borrowing funds overnight in return for high-quality collateral, or the repo rate, shot up on Wednesday.Hedge funds and banks use the repo market to…

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News Oil 

Oil currencies, dollar buoyed as Saudi attacks keep crude elevated

“TOKYO (Reuters) – Oil exporter currencies held firm while the dollar found broad support as recent attacks on Saudi oil facilities and the threat of military action in the region kept crude prices kept prices elevated” writes Midwest Communications Inc for 95kqds.com. Attacks on crude facilities in Saudi Arabia on the weekend boosted oil prices by nearly 15% on Monday, with international benchmark Brent logging its biggest jump in over 30 years.”Aside from big moves in oil prices, currencies and bonds are relatively calm, as investors are still trying to…

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News 

Cloudflare prices IPO shares at $15, higher than elevated range

“Cloudflare shares are expected to begin trading Friday on the New York Stock Exchange under the ticker symbol NET” writes Jeremy C for marketwatch.com. Underwriters — led by Goldman Sachs, Morgan Stanley and JP Morgan — have access to an additional 5.25 million shares that could push those totals higher.NET, +0.00% priced shares in its initial public offering at $15 Thursday evening, higher than a target range that had already been raised.Cloudflare, a cloud-based network-security platform, initially aimed to sell shares at $10 to $12, but raised that target to…

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Markets News 

Wall Street sees elevated recession risk, market woes after US and China stoke trade fears

“With talks between the US and China dominating market moves over the near term, investors should brace for higher volatility” writes Thomas Franck for cnbc.com. The reignited trade fight between the U.S. and China elevates the odds of a global recession and market pullback over the next year, according to some of Wall Street’s top economists and market strategists.We believe it is prudent to take action to neutralize part of this event risk,” he wrote. Source: cnbc.com

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News 

Sen. Joe Manchin of West Virginia, a vocal supporter of the coal industry, was officially tapped Tuesday to be the top Democrat on the Senate Energy and Natural Resources Committee next Congress.

“The spot opened up for Manchin because the current energy committee ranking member, Maria Cantwell, D-Wash., is switching to be the top minority senator on the Commerce Committee, a transition that Schumer also made official Tuesday” reports washingtonexaminer.com. Environmental groups had urged Schumer to block Manchin from leading Democrats on the committee, which has oversight of key energy programs that relate to climate change. Source: washingtonexaminer.com

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Markets News 

Year-end portfolio moves to help your portfolio weather volatility

“As investors weather more volatility after Tuesday’s799 point drop for the Dow Jones Industrial Average, financial experts have largely stuck to one refrain: Welcome to the new normal” writes unknown author for cnbc.com. Concerns over tariffs and what the Federal Reserve will do will likely keep market volatility elevated, according to J.J. Kinahan, chief market strategist and managing director at TD Ameritrade.”But volatility is only elevated compared to the last couple of years,” Kinahan said.It’s not a 10 percent move anymore,” Lisa Shalett, head of investment and portfolio strategy at…

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News 

Elevated Returns gets $18 million for St. Regis Aspen Resort ‘tokenized real estate’

“Elevated Returns has closed $18 million for Aspen Digital, a tokenized real estate offering that gives investors a small ownership stake in the St” writes Dean Takahashi for venturebeat.com. In an email, an Elevated Returns spokesperson wrote, “We’ve tokenized a portion of the St Regis Aspen which we formed as a single asset real estate investment trust (REIT).Aspen Digital is among the first of its kind to successfully tokenize a trophy real estate asset. Source: venturebeat.com

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Markets News Oil Stocks 

Asia stocks slip as U.S.-China trade row revives growth fears; oil elevated

“TOKYO (Reuters) – Asia stocks struggled on Tuesday as a fresh round of U.S.-China tariffs and a surge in oil prices to near four-year highs added to worries about risks to global growth” writes Midwest Communications Inc for 95kqds.com. U.S. equities had made strong gains last week as investors had hoped the United States and China would find a way out of the trade impasse. Furthermore, the United States from November will target Iran’s oil exports with sanctions, and Washington is putting pressure on governments and companies around the world…

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News Stocks 

Beaten-down GoPro shares may surge after the company’s earnings report: JP Morgan

“GoPro shares could rise significantly when the company posts its financial results this week, according to J.P. Morgan” writes Shannon Stapleton for cnbc.com. The firm said the company’s stock price is now low enough for the shares to rally on a decent earnings report.GoPro is slated to report its second-quarter earnings results Thursday after the market close. “Expectations are muted, short-interest remains quite elevated, so the stock might be set up for a short squeeze on solid results.”.  Source: cnbc.com

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