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The 2:59 PM Trade
It's Friday afternoon, 2:59 pm. Most traders are clocking out. But legendary Millionaire trader Tim Sykes is about to cash in on a strange weekend "loophole."
He's used this exact method to make $8,780... $9,518... and even $16,159 over the weekend. But today, he wants to show YOU how to do it too.
By Simon Jessop LONDON (Reuters) -Britain’s biggest asset manager, Legal & General Investment Management (LGIM), said on Thursday it would back a number of climate-focused shareholder resolutions at the annual meetings of eight leading U.S. and Canadian banks. LGIM, insurer Legal & General’s fund arm, which manages around $1.5 trillion, said it was going public…
By Balazs Koranyi WASHINGTON (Reuters) – The European Central Bank needs to keep raising rates given stubbornly high underlying inflation and its next move could be either a 25 or a 50 basis point increase, Governing Council member Bostjan Vasle said on Thursday. The ECB has raised rates by a record 350 basis points since…
By Tom Sims and Marta Orosz FRANKFURT (Reuters) – Complaints from consumers about banks and other financial firms in Germany rose by a fifth last year, official data shows, as regulators flex their muscles to shore up trust in the sector. BaFin, Germany’s financial watchdog, has been increasing its focus on consumer protection in the…
By Tatiana Bautzer NEW YORK (Reuters) -Wall Street bankers face an increasingly gloomy job market after last month’s banking crisis worsened an already bleak outlook for pay and staffing. The failure of two U.S. banks – Silicon Valley Bank and Signature Bank – shook confidence in the industry and prompted government intervention to protect the…
By Nell Mackenzie, Carolina Mandl and Summer Zhen LONDON/NEW YORK/HONG KONG (Reuters) – March’s market turmoil has forced many macro and trend-following hedge funds to cut bait on bad portfolio bets and caused at least one bank that lends to them to scrutinize its clients’ exposure, according to sources and preliminary data reviewed by Reuters….
By Tommy Wilkes LONDON (Reuters) – BlackRock’s liability-driven investment business is urging some smaller UK pension fund clients to stop splitting assets across multiple managers, as it tries to cut the complexity and risks of a strategy that imploded last year. Asset managers worry new rules to make LDI investing more robust could render the…
By Jamie McGeever ORLANDO, Florida (Reuters) -The most extraordinary outcome of the March banking shock would be if the problem dissipated quickly. Many people hope the crisis of confidence infecting global banking this month can be repelled almost as quickly as it appeared. After all, regulators and policymakers are faster and more comprehensive in their…
LONDON (Reuters) – Financial markets have been thrown a fresh curve ball by the decision to write down 16 billion Swiss francs ($17.5 billion) of Credit Suisse bonds, known as Additional Tier 1 or AT1 debt, to zero as part of a forced rescue merger with UBS. Under the deal, holders of Credit Suisse AT1…
LONDON (Reuters) – Short sellers have made a profit of over $100 million on paper betting against Deutsche Bank stock over the last two weeks, financial data company Ortex said on Friday. Ortex said short interest in Deutsche Bank’s European and U.S.-listed shares has doubled over that period to $360 million. Deutsche’s German shares were…
By Samuel Indyk LONDON (Reuters) -The Swiss franc hasn’t lived up to its safe-haven reputation during the Credit Suisse collapse, as investors have sought shelter elsewhere, bringing more of a boost to the value of the gold in Switzerland’s bullion vaults than to its currency. Money managers ditched the Swiss franc at the fastest rate…
