Monthly Archives: March 2023
SEC Charges Exiled Chinese Businessman Miles Guo and His Financial Advisor William Je in $850 Million Fraud Scheme
(Hedgeco.Net) The Securities and Exchange Commission has charged exiled Chinese businessman Miles Guo and his financial advisor William Je for their involvement in unregistered and fraudulent offerings that raised more than $850 million. According to the SEC’s complaint, since April […]
Stock futures are flat after banks bolster deposits at First Republic: Live updates
(CNBC) U.S. stock futures were flat on Thursday night. The action comes after a relief rally earlier in the day. Dow Jones Industrial Average futures fell by 21 points, or 0.06%. S&P 500 futures dipped 0.03%, while Nasdaq futures inched […]
Wall Street rides to the rescue as 11 banks pledge First Republic $30 billion in deposits
(CNBC) A group of financial institutions has agreed to deposit $30 billion in First Republic in what’s meant to be a sign of confidence in the banking system, the banks announced Thursday afternoon. Bank of America, Wells Fargo, Citigroup and […]
SVB turmoil hits quant and macro hedge funds
(Hedgeweek) Market turmoil triggered by the collapse of Silicon Valley Bank and Signature Bank saw computer-driven hedge funds suffer their worst ever day of losses on Monday, according to a report by Bloomberg, while at least two of last year’s […]
Managed futures’ performance turns positive in February
(Hedgeweek) Managed futures posted a monthly gain in February, up 0.15% for the month, according to the Barclay CTA Index, compiled by Backstop BarclayHedge. February’s gains reversed three straight losing months for CTAs. To read this article:
Hedge funds down 0.71% in Feb
(Hedgeweek) Hedge funds lost 0.71% in February paring year to date gains to 2.58%, according to the latest data from Bloomberg, with commodities funds seeing the biggest decline over the month with a 3.36% fall. To read this article:
Odey reopens three hedge funds
(Hedgeweek) Odey Asset Management, the London-based hedge fund firm founded by Crispin Odey, has reopened three funds which were soft closed in November 2022, including its flagship Odey European fund, according to a report by Financial News citing a letter […]
Ellis pockets biggest Man Group pay packet since 2008
(Hedgeweek) Man Group chief executive officer Luke Ellis earned $11.3 million in 2022 from his base salary, bonus payment and share grants, the largest pay packet of any Man Group head in the last 14 years, according to a report […]
Snap and META stock surges on report that Biden may ban TikTok
(CNBC) Shares in social media companies Snap and Meta jumped in after-hours trading on Wednesday after the Biden administration was reported to be considering banning TikTok in the U.S. unless Chinese tech giant ByteDance divests its stake. Snap shares surged […]
S&P 500 futures rise following a volatile session on Wall Street: Live updates
(CNBC) U.S. stock futures ticked up Thursday morning after investor fears of a widespread banking crisis led to a volatile trading session. Credit Suisse announced plans to borrow up to about $54 billion from Swiss National Bank. Dow Jones Industrial Average […]
Credit Suisse to borrow up to nearly $54 billion from Swiss National Bank
(CNBC) The decision comes shortly after shares of the lender fell sharply Wednesday, hitting an all-time low for a second consecutive day after its top investor Saudi National Bank said it won’t be able to provide further assistance. To read […]
One of the best ways to figure out what the Fed will do next is to look at regional bank stocks
(CNBC)Markets have changed their mind — again — about what they think the Federal Reserve will do next week regarding interest rates. In a morning where more banking turmoil emerged and stocks opened sharply lower on Wall Street, traders shifted […]