Archive July 2019

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Week InAdvance: July 29, 2019

Mon Jul 29 SEC Fixed Income Market Structure Advisory Committee. | Tue Jul 30 Lighthizer, Mnuchin in Shanghai for trade talks. | Wed Jul 31 FOMC rate decision.

Week InReview: July 26, 2019

Can you afford not to have lunch with Warren Buffett?

"The digital token known as Tron tumbled as much as 16% after cryptocurrency entrepreneur Justin Sun postponed his charity lunch meeting with billionaire Warren Buffett citing a bout of kidney stones.

"Buffett and 29-year-old Sun agreed to reschedule, according to a tweet Monday from his Tron Foundation. The lunch had been set for Thursday in San Francisco. …

"The postponement came only hours after Sun tweeted invitations to other crypto boosters to join him, spurring speculation there may be other reasons for the decision. Sun denied media reports that he was involved in illegal fundraising and money laundering, according to China’s state-run Global Times."

— Buffett lunch winner's crypto coin drops after meeting delay

Week InAdvance: July 22, 2019

Tue Jul 23 Senate probes cannabis banking. | Wed Jul 24 SunTrust, BB&T merger in the House. | Thu Jul 25 SEC's investor panel meets.

Week InReview: July 19, 2019

In case you missed it...

Risk is ramping up in property CLOs revived after the crisis; Regulators extend foreign-funds Volcker treatment two more years; Central banks say they can't save economy by themselves; Fed's Williams urges banks to stop writing Libor contracts

Week InAdvance: July 15, 2019

Mon Jul 15 ESMA SFTR hearing in Paris. | Tue Jul 16 "Bretton Woods: 75 Years Later" conference in Paris. | Wed Jul 17 France hosts G7 finmins & central bank chiefs. | Thu Jul 18 SEC "short-termism" roundtable.

Week InReview: July 12, 2019

Whatever happened to John McAfee?

On the run from US tax authorities, tech guru John McAfee puffs a cigar aboard his towering white yacht in a Havana harbor and says he can help Cuba evade the US government too — by launching a cryptocurrency that defeats a US trade embargo.

“You can’t just create a coin and expect it to fly. You have to base it on the proper blockchain, have it structured such that it meets the specific needs of a country or economic situation,” said McAfee.

“There are probably less than 10 people in the world who know how to do that and I’m certainly one of them.”

With him on the yacht are his wife, four large dogs, two security guards and seven staff for his campaign “in exile” for the Libertarian Party presidential nomination, McAfee said. He previously ran in 2016 and came in a distant third.

McAfee said he did not pay income tax for eight years for ideological reasons and was indicted. The Internal Revenue Service declined comment.

Fugitive US tech guru: Cryptocurrency is next Cuban revolution

— Reuters

Week InAdvance: July 8, 2019

Mon Jul 8 SEC roundtable in Boston. | Tue Jul 9 Fed stress test forum. | Wed Jul 10 House Financial Services ESG hearing. Fed's Powell in the House. FOMC minutes. | Thu Jul 11 Fed's Powell in the Senate.

Week InReview: July 5, 2019

Bond ETFs turn one trillion.

"The amount of money in fixed-income exchange-traded funds passed $1 trillion last month, an ascendance that has reshaped the market in which countries and companies raise money to pay their bills....

"In June, The Wall Street Journal sat down with one of the biggest beneficiaries of the bond ETF boom: Rob Kapito, president of BlackRock. When asked about the liquidity-crunch criticism bond ETFs most often get, Mr. Kapito responded with an eye roll.

"Mr. Kapito made little effort to conceal his derision for armchair alarmists.

"'A lot of your colleagues have been trying to find a fault with this thing,' Mr. Kapito said. 'It's a pent-up desire that hasn't been fulfilled, because it actually works.'"

— The Wall Street Journal

Week InAdvance: July 1, 2019

Mon Jul 1 'Summer Davos' in China. | Tue Jul 2 EBA Basel III hearing in Paris. Total solar eclipse. | Wed Jul 3 US stock market closes at 1pm, bond markets close at 2pm in observance of Independence Day. | Thu Jul 4 US markets closed for Independence Day.