Archive May 2019

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Week InReview: May 31, 2019

Lunch with Warren

"A charity auction to have lunch with Warren Buffett has hit a record before it is even over.

"Bidding for the annual lunch auction reached $3,500,100 late Monday, one day after the auction opened at $25,000. The auction to meet the billionaire and Berkshire Hathaway Inc. chairman ends Friday night. All bidders have to be prequalified to submit an offer. The auction is run by eBay and auction manager Matchfire.

"An anonymous bidder set the previous record high of $3,456,789 in 2012, and that amount was matched in 2016. Last year’s winning bid, also anonymous, was $3,300,100."

Someone wants to pay $3.5 million to have lunch with Warren Buffet

— The Wall Street Journal

Week InAdvance: May 28, 2019

Tue May 28 EU leadership talks. | Thu May 30 FSOC meets. | Fri May 31 SEC fintech forum.

Week InReview: May 24, 2019

Buy the 'Summa de Arithmetica' for the accountant in your life.

In 1494 Luca Pacioli, known as the Father of Modern Accounting, wrote the first practical how-to book on succeeding in business. It introduced many bookkeeping methods that are used today and is considered to have prefigured many aspects of the modern business world. Now the Italian mathematician’s book is set to go on the auction block — and Christie’s specialists claim it could fetch as much as $1.5 million.

Summa de Arithmetica: The Birth of Modern Business

Week InAdvance: May 20, 2019

Mon May 20 OECD Forum 2019. | Tue May 21 OECD economic outlook. | Wed May 22 FOMC minutes released. | Thu May 23 EU elections. | Fri May 24 U.S. bond markets close 2 pm for Memorial Day.

Week InReview: May 17, 2019

Game Changer -

"The Wild West of cryptocurrency trading is getting something typically associated with the safest of savings accounts: FDIC protection.

"SFOX, a prime dealer and trading system in the $208 billion crypto market, is partnering with New York-based M.Y. Safra Bank to offer its traders deposit accounts backed by the Federal Deposit Insurance Corp. — the same federal agency that protects bank customers up to $250,000 per financial institution.

"It’s the first time FDIC-insured accounts will be linked to a crypto prime dealer, according to SFOX, and allows traders to keep funds in accounts under their own names. Most banks don’t allow their customers’ accounts to be linked to cryptocurrency trading. The FDIC insurance protects the cash leg of a crypto trade and doesn’t apply to the Bitcoin, Ether or other digital assets SFOX users buy on the exchange."

— FDIC protection coming for wild crypto market's traders

Week InAdvance: May 13, 2019

Mon May 13 'Fed Listens' at the Boston Fed. | Tue May 14 Senate Finance hearing on the retirement system. | Wed May 15 Senate Banking panel meets on oversight of financial regulators. | Thu May 16 DC forum on how to prepare for a recession. | Fri May 17 EU finance ministers meet in Brussels.

Week InReview: May 10, 2019

Yield Curve Worries -

A part of the U.S. Treasury yield curve considered a good indicator for coming recession is heading towards a potentially worrying level again, driven by the renewed jitters about U.S.-China trade. But it's doing it at a time when BlackRock Inc. thinks the predictive powers of the yield curve are fading. The Federal Reserve doesn't seem too worried either. Vice-Chair Richard Clarida pushed back against suggestions the Fed will start to cut rates soon and is confident current policy will get inflation where it needs to be.

Week InAdvance: May 6, 2019

Mon May 6 WTO's 'Geneva Week.' | Tue May 7 Senate hearing on privacy and data. | Wed May 8 FIA law & compliance forum in DC. | Thu May 9 SEC addresses cross-border swaps. FSI/IMF meeting in Basel. | Fri May 10 G7 cybersecurity conference in Paris.

Week InReview: May 3, 2019

Tweet of the Week -
You: why is my balance so low?
Bank account: make coffee at home.
Bank account: eat the food that's already in the fridge.
Bank account: you don't need a cab, it's only three blocks.
You: I guess we'll never know Bank account: seriously?