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The comments period has ended for the Basel Committee on Banking Supervision’s (BCBS’s) “Second Consultation on the Prudential Treatment of Cryptoasset Exposures,” a document published in June 2022. International financial associations had a lot to say in response. Several did so at once in a joint 84-page comment letter released on Oct. 4. In addition, […]
U.S. stocks opened higher on Tuesday, adding to their gains from Monday’s session as global bond yields continued to decline and talk of a possible “pivot” from the Federal Reserve intensified after the Reserve Bank of Australia delivered a smaller-than-expected 25 basis-point interest-rate hike. The Dow Jones Industrial Average DJIA, +1.90% rose 475 points, or […]
BNY Mellon Is Anybody Paying Attention? With markets’ attention focused on events in the UK, we wonder if global central banks’ fight against inflation is being overlooked. Friday’s release of the US Personal Consumption Expenditure deflator for August showed that core inflation – recall that PCE inflation at 2% is the Federal Reserve’s formal target […]
Daily Market Outlook, October 3, 2022 Overnight Headlines Tory Revolt Forces Liz Truss To Delay 45p Tax Rate Vote – Telegraph UK PM Truss Admits Mistake In Communicating Economic Plan Credit Suisse CEO Seeks To Calm As Default Swaps Near 2009 Level Kwarteng Trying To Head Off Tory Rebellion Over Tax Cut Debacle S&P Puts […]
Shares of Gilead Sciences Inc. GILD, +1.02% rallied 3.2% in premarket trading Tuesday, after the biopharmaceutical company was upgraded at J.P. Morgan, which cited greater clarity on the human immunodeficiency virus (HIV) IV franchise and an emerging and undervalued oncology, or cancer treatment franchise. Analyst Christopher Schott raised his rating to overweight, after being at […]
Shares of Hut 8 Mining Corp. HUT, +7.30% HUT, +5.69% rallied 4.2% in premarket trading Tuesday, after the bitcoin miner said it generated 277 bitcoin BTCUSD, +1.75% in September, at an average rate of 9.2 bitcoin per day. That brings the company’s total bitcoin held in reserve to 8,388, which at current prices would be […]