News Stocks 

Office of Government Ethics declines to certify Wilbur Ross financial disclosure report

“The Office of Government Ethics has declined to certify the financial disclosure report of Commerce Secretary Wilbur Ross, according to a new filing” writes D C for marketwatch.com. The 2018 annual filing wasn’t certified because, it says, Ross said he did not hold BankUnited stock BKU, +0.83% while the transaction report from Oct. 31, 2018, demonstrated that he did. Source: marketwatch.com

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News Stocks 

The Fate of Bank Stocks Amid Quantitative Tightening

“Given the extrapolated performance of bank stocks, deregulation, quantitative tightening (interest-rate hikes), and a booming US economy do not seem to be having the desired effect on bank stocks” writes Finance Magnates Staff for financemagnates.com. Based on current trends, interest rates are set to rise modestly in 2019, which should propel bank stocks in the process.According to SelectUSA.gov, the financial services industry in the US comprised 7.5% of US GDP (gross domestic product) in 2017.Consider that in 2017, US financial services and insurance exports amounted to $114.5 billion.It is largely…

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News 

trueDigital Appoints Bridgewater’s Thomas Kim as CEO

“Financial technology provider trueDigital, a subsidiary of swap execution facility operator TrueEX, announced on Tuesday that Thomas Kim has joined the firm as Chief Executive Officer (CEO)” writes David Kimberley for financemagnates.com. This will be instrumental as we double down on our ambitions to innovate, grow and scale.” Kim joins the financial technology company from Bridgewater Associates, an American investment management company, where he spent seven years.Prior to that, Kim also spent time at a number of major financial institutions, including Lehman Brothers and UNX. According to a statement released…

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We asked 8 Wall Street recruiters about the hottest trends in hiring across banking, trading, hedge funds, and asset management

“Here’s what recruiters say are the hottest trends driving hiring on Wall Street in 2019” writes Meghan Morris for businessinsider.com. Sign up here for our weekly newsletter Wall Street Insider, a behind-the-scenes look at the stories dominating banking, business, and big deals. Source: businessinsider.com

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Crypto News Platforms 

Financial Firm Offers ‘Almost Instantaneous’ Loans Up to $30,000 With Crypto as Collateral

“A financial company is giving crypto holders the opportunity to take out cash loans while using their digital assets as collateral” writes Connor Blenkinsop for cointelegraph.com. Meanwhile, YouHodler believes its product helps traders leverage their crypto portfolio with additional cash in order to buy further digital assets.Six cryptocurrencies are accepted as collateral, including Bitcoin, Litecoin, Ethereum, XRP, Bitcoin Cash and BSV. Others, including XLM, Dash and ZCash, are said to be in the pipeline. Instead, the platform wants to adopt a more user-friendly, fast and sustainable approach than old-fashioned institutions…

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Markets News Regulators 

Fed Chairman Concerned Over Shrinking Bank Market

“Reports said Powell noted that looser community bank regulations may help keep branches open” reports pymnts.com. That may be good news for banks, but some policymakers are concerned that industry consolidation is reducing access to financial services in rural areas.He pointed to the Community Reinvestment Act, which encourages banks to loan to small businesses.Bank mergers aren’t the only factor behind closing bank branches, however.As concerns are raised about how industry consolidation might impact competition, Federal Reserve Chairman Jerome Powell is warning that it could hinder small businesses’ access to capital…

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Global debt is not yet at financial crisis levels — but could be set for an explosion with China leading the way

“Global debt is at elevated levels, but isn’t high enough to draw comparisons with the 2008 financial crisis just yet” writes Callum Burroughs for businessinsider.com. The danger of not adjusting debt levels could have a severe impact on already slowing global growth. Emerging markets are seeing a boom in private sector debt Oxford Economics/Haver Analytics. Emerging markets have been the main driver of this trend with debt levels in major growing economies such as China increasing rapidly in the past decade.Since 2015, world private sector debt has risen by around…

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News Stocks 

Wirecard shares rise on German short-selling ban

“Shares in Wirecard AG (WDI.XE) trade higher Monday morning after German financial regulator BaFin issued a ban on establishing new short positions in the payment-services provider, or increasing existing ones” writes Nathan Allen for marketwatch.com. BaFin said the negative reports triggered a significant increase in net short positions against Wirecard, which have increased volatility in the shares.”In the current situation, there is a risk that this uncertainty will increase and escalate into general market uncertainty,” the regulator said.The regulator said there was a risk that high volatility in the stock–caused…

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Apple and Amazon could be the next to disrupt ETFs

“As investing becomes more automated, tech companies like Amazon, Apple and Alphabet could bring their expertise to an industry stymied by distribution challenges, he suggested at the Inside ETFs conference in Hollywood, Florida, earlier this month” writes Keris Lahiff for cnbc.com. Tom Lydon, editor-in-chief of ETFTrends.com, agrees on the likelihood that tech companies will enter the financial services industry in the coming years.Brand and reputation could also help tech companies convince consumers to trust them with financial products, says Edelman.Are tech titans about to enter the world of ETFs?.  Source:…

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Markets News Stocks 

In a bear market, the best offense is a good defense

“To keep your footing and stay centered, reverse that old adage about sports and war: In a bear market, the best offense is a good defense” reports marketwatch.com. A bear market, when it comes, will feel like an attack on your financial security.The bullish case for Facebook is about to get even better Momentum-based investing strategies are coming off a 10-year cycle of poor performance, writes Mark Hulbert.Investors working with investment advisers ought to make time to talk about bear markets — when stocks drop at least 20% from their…

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