Markets News Regulators 

Gold slips as thaw in US-China trade woes lift stocks

“Asian stocks rose on hopes for a thaw in U.S.-China trade frictions and expectations that the ECB will kick off another wave of monetary easing by global central banks” reports cnbc.com. Gold prices fell on Thursday as equities gained on improving risk sentiment buoyed by signs of gradual de-escalation in U.S.-China trade tensions, while investors eyed European Central Bank’s meeting for cues on monetary policy easing.Spot gold fell 0.4% to $1,491.86 per ounce at 0117 GMT. U.S. gold futures were down 0.3% at $1,499.5 an ounce.Trump called on the “boneheads”…

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Futures News 

US futures remain more optimistic so far today

“S&P 500 futures are up by 0.6% currently as equities display more calm ahead of European trading” reports forexlive.com. Looking ahead today, I wouldn’t get too carried away on the optimism seen above but so far bond yields are also holding slightly higher on the day.But much like the fluctuating risk mood as of late, can the optimism here stay the course until the end of the day?. However, the closer investors are to realising why central banks are cutting rates, I reckon the closer we will be to seeing…

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News 

A top Goldman Sachs salestrader is leaving to take a big role at JPMorgan

“Jack Johnston, a managing director in equity sales at Goldman since 2013, is leaving for JPMorgan, where he will be a managing director and co-head the US equity salestrading business, the people said” writes Alex Morrell for businessinsider.com. It isn’t clear whether he does business for Cohen’s new fund, roughly $13 billion Point 72 Asset Management.Danielle Johnson, an managing director in the bank’s client relationship management group, was poached by Credit Suisse to co-run its Americas equities business with Paul Galieto, Bloomberg reported last Friday. Source: businessinsider.com

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News Stocks 

Chinese equities continue to bleed into the close

“The index is down by over 4% now on the day as it falls back below the 3,000 level, which is a rather significant psychological level for Chinese stocks” reports forexlive.com. The negative tones here will fuel further risk aversion as we begin European trading and that will keep the likes of the yen and swissie bid in the currencies space. Source: forexlive.com

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News Regulators 

Gold steadies as ECB stance drag equities; US jobs data eyed

“Spot gold was steady at $1,285.17 per ounce as of 0119 GMT. U.S. gold futures were also flat at $1,286 an ounce” writes unknown author for cnbc.com. China’s gold reserves rose slightly to $79.498 billion in February from $79.319 billion at the end of January, as the central bank increased the total amount of gold reserves to 60.260 million fine troy ounces from 59.940 million troy ounces.Gold held steady on Friday as risk appetite faded after the European Central Bank cut its growth forecasts and launched an emergency round of…

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News 

Deutsche Bank has reportedly considered closing its equities-trading unit after hundreds of millions in losses

“Beleaguered banking giant Deutsche Bank has reportedly considered closing its equities trading business, according to the Wall Street Journal” writes Dakin Campbell for businessinsider.com. Hudson Executive’s Doug Braunstein has pushed Deutsche Bank to shutter the equities business, according to the newspaper.Deutsche Bank’s equities business has been a focus of hiring.The details were buried in a profile of Matt Zames, the Cerberus executive who has been advising Deutsche Bank on behalf of the private-equity firm’s 3% stake. Source: businessinsider.com

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News Platforms Stocks 

Barclays is revamping how it trades stocks as it welcomes in the ‘golden age for electronic trading’

“The next five years are really going to be the golden age for electronic trading,” Nehren said in an interview with Business Insider” writes Dan Defrancesco for businessinsider.com. Condensing the number of algos the banks uses for stock trading down to one will allow it to innovate more.A new era of electronic stock trading has arrived.Barclays’ equities business generated $2.7 billion in income in 2018, a 25% uptick from 2017. Source: businessinsider.com

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News 

One of Wall Street’s youngest female executives just left Bank of America in London

“Lucy Baldwin, a managing director in equities at Bank of America in London, is leaving the bank, according to people familiar with her departure” writes Trista Kelley for businessinsider.com. Another two managing directors in London equities are also leaving Bank of America.She was at the bank since 2015, and before that she was at Goldman Sachs in London, becoming one of the firm’s youngest MD at 28 years old. Source: businessinsider.com

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Markets News 

Why some U.S. fund managers like China regardless of trade deal

“Yet she remains bullish on Chinese equities because her portfolio is focused chiefly on spending by Chinese consumers” reports businessinsider.com. Yet some U.S.-based fund managers from firms including Wells Fargo Asset Management, Causeway Capital Management and Janus Henderson Investors say they are becoming more bullish on China regardless of whether a trade agreement is reached over the next few months.Emerging market stocks are now the most popular trade among global fund managers, according to BAML data, though much of those bets are going into Latin American countries such as Brazil…

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