Archive July 2018
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Week InAdvance: July 30, 2018
Week InReview: July 27, 2018
CFTC Chair J. Christopher Giancarlo, a "devout roman Catholic," and chief economist Bruce Tuckman, responded to Pope Francis's condemnation of derivatives in a letter to the Vatican.
"Messrs. Giancarlo and Tuckman, in the letter, argued for the social utility of derivatives, saying that rather than preying on the vulnerable, derivatives are actually a boon for "the world's poorest farming communities."
The two backed up their rebuttal of the Vatican with detailed descriptions of how, for example, derivatives can help stem boom-and-bust cycles in Madagascar's vanilla-crop prices.
CFTC chair tangles with Vatican over Pope's criticism of derivatives
Week InAdvance: July 23, 2018
Week InReview: July 20, 2018
"People are making too much of the 10s to 2s," said Larry Kudlow - who replaced Gary Cohn as director of the National Economic Council director in March - referring to the shrinking gap between U.S. shorted dated and long dated Treasury yields.
"There is no recession in sight right now."
"Don't be gloomy and doomy in an overboard sense," Mr Kudlow added. "The American economy is in good shape."
- Financial Times
Week InAdvance: July 16, 2018
Week InReview: July 13, 2018
"... the historic spending spree on share buybacks has some analysts worried companies are buying their shares at excessive valuations during the peak of the economic cycle and at a time when the market rally is nine years old. Others warn the billions of dollars spent to buy back shares could have gone toward capital improvements like new factories or technology that could lead to stronger long-term growth."
Stock buybacks are booming, but share prices aren't budging - The Wall Street Journal
Week InAdvance: July 9, 2018
Week InReview: July 6, 2018
"High humidity is impeding radio transmissions Tuesday among three New Jersey data centers where U.S. stocks trade, according to a note Nasdaq Inc. sent customers. It's taking about 8 microseconds longer to send information from Nasdaq's facility in Carteret to the New York Stock Exchange data center in Mahwah, and an extra 2 microseconds to send data to Cboe Global Markets Inc.'s exchange in Secaucus."
This heat wave's so bad it's even slowing down U.S. stock trades