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☆ Russian court rejects Goldman request to dismiss Otkritie lawsuit
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +1 min

The logo of Goldman Sachs is displayed in their office located in Sydney, Australia, May 18, 2016. REUTERS/David Gray/File Photo Acquire Licensing RightsMOSCOW, Sept 8 (Reuters) - A presiding judge at the Moscow Arbitration Court on Friday rejected a Goldman Sachs (GS.N) request to dismiss a $6.3 million lawsuit by Russia's Otkritie (OPENI.MM), which is owned by state bank VTB (VTBR.MM). A lawyer for Goldman had argued on Thursday that the Moscow court had no jurisdiction and the case should instead be heard in London. At Otkritie's request, Goldman's assets in Russia, including its 5% stake in Russia's largest toy retailer, Detsky Mir (DSKY.MM), were sequestered last month. Otkritie says in a filing with the court that Goldman cited sanctions introduced against Moscow by the United States and Britain over Ukraine in failing to settle the debt.

Persons: Goldman Sachs, David Gray, Russia's Otkritie, Goldman, Otkritie, Detsky Mir, Kevin Liffey, Alexander Smith Organizations: REUTERS, Rights, Moscow, Reuters, Thomson Locations: Sydney, Australia, Moscow, London, Russia, United States, Britain, Ukraine

☆ With Indian rupee near record low, cenbank steps up NDF intervention
▼ + stars: | 2023-09-07 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

"The RBI intervened on NDF in the morning (before local over-the-counter, OTC, markets opened) and it did the same yesterday," the head of treasury at a private sector bank said. The banker said the RBI has been intervening in the NDF market via the BIS (Bank of International Settlements) and a large U.S.-based bank. At times, we see (Indian) public sector bank names," the head of proprietary trading at a foreign bank said. By the time local OTC markets opened on Thursday, the contract had retreated to 83.20 and the spot opened at 83.12. Apart from NDF, the central bank has been likely supplying dollars via public sector banks in the local OTC market, traders said.

Persons: Francis Mascarenhas, Nimesh Vora, Savio D'Souza Organizations: Bank of India, REUTERS, Rights, Reserve Bank of India, Reuters, U.S, BIS, Bank of International, New, Thomson Locations: Mumbai, India, Rights MUMBAI, U.S, Asia, New York

☆ Goldman Sachs: 20 trades to make now using a strategy that has beaten the market over the last two decades
▼ + stars: | 2023-09-07 | by ( Mark Reeth | ) www.businessinsider.com time to read: +3 min

Options trading may seem tricky, but Goldman Sachs has found a simple, profitable strategy. That options strategy is called overwriting. However, only one strategy has beaten the market for the last 18 years. This was a particularly effective strategy for stocks in the information technology and the consumer staples sectors. To that end, Marshall searched for stocks that have both a market cap within the top two-thirds of Goldman Sachs' stock coverage universe, as well as implied volatility in the top two-thirds of all the stocks Goldman Sachs analysts cover.

Persons: Goldman Sachs, John Marshall, Marshall, outperforming Organizations: Sharpe, Goldman

☆ Goldman Sachs lawyer says suit by Russia's Otkritie Bank should be heard in London
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +2 min

The logo of Russian bank Otkritie is seen at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 15, 2022. Otkritie says Goldman owes the money in connection with a derivatives agreement and wants the claim to be handled in the Moscow Arbitration Court. Otkritie, owned by state bank VTB (VTBR.MM), says in a filing with the court that Goldman Sachs cited sanctions introduced against Moscow by the United States and Britain over Ukraine in failing to settle the debt. A lawyer for Goldman asked on Thursday for the lawsuit to be dismissed on the grounds the Moscow court had no jurisdiction. Otkritie's lawyer said the Moscow court should have sole jurisdiction and that sanctions essentially prevented Otkritie from accessing justice services in the UK.

Persons: Maxim, Goldman Sachs, Otkritie, Goldman, Detsky Mir, Elena Fabrichnaya, Mark Trevelyan, David Evans Organizations: St ., Economic, REUTERS, Russia's, Court, Moscow, Reuters, London Court, International, Thomson Locations: St, St . Petersburg, Saint Petersburg, Russia, Ukraine MOSCOW, Moscow, London, United States, Britain, Ukraine

A vessel carrying liquefied natural gas (LNG) cargo from Russia's Yamal LNG project, is seen at Rudong LNG Terminal in Nantong, Jiangsu province, China July 18, 2018. The key word Simonelli used is "destination," as it implies that LNG and natural gas are in the energy mix for a long time to come. The second bet is that the LNG industry will be able to convince government policymakers, companies and consumers that their fuel is better than the dirtier alternative of coal-fired generation. Overall, the industry is probably correct that energy demand, especially in Asia, is going to rise strongly in coming decades. But the LNG industry will also need to have policy settings just right and deploy technologies at a scale not yet seen to remain in the energy mix in a net-zero world.

Persons: Stringer, Lorenzo Simonelli, Baker Hughes, Jamie Freed Organizations: REUTERS, Rights, LNG, CCS, Reuters, Thomson Locations: Nantong, Jiangsu province, China, Rights SINGAPORE, Singapore, Asia, Gastech, Vietnam, India

He learned Saudi Arabia's largest telecoms operator, STC Group, aimed to be Telefonica's biggest shareholder, with an interest of 9.9%. The move is a vote of confidence in Telefonica, burdened by billions of dollars in debt while STC gains expertise to modernize Saudi telecoms infrastructure. As Telefonica's rivals slashed prices to attract internet users, the Spanish company also borrowed to invest in new mobile and internet networks. STC sought to keep the stake under wraps until it could buy at least 9.9% of Telefonica, the person said. Middle Eastern investors have been taking stakes in Spanish companies for some time.

Persons: Violeta Santos Moura, Jose Maria Alvarez, Pallete, Alvarez, Prince Mohammed bin Salman's, UGT, Morgan Stanley, Linklaters, Motaz Al Angari, Al Angari, pare, EFG Hermes, Inti Landauro, Tomas Cobos, Amy, Jo Crowley, Pablo Mayo, John O'Donnell, Anousha, Elisa Martinuzzi, David Gregorio Our Organizations: Spanish Telecom, REUTERS, Rights, Telefonica, STC Group, STC, Saudi Arabia's Public Investment Fund, Foresight, Saudi, United Arab, Vodafone, Thomson Locations: Madrid, Spain, Rights DUBAI, MADRID, Silicon Valley, Saudi, Riyadh, Telefonica, Saudi Arabia, Spanish, Latin America, theocracies, United Arab Emirates, Iberdrola, Davos, Gulf, London

☆ 'Very robust strategy': Fund manager makes a case for dividend stocks and names 5 to buy
▼ + stars: | 2023-09-01 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

Dividend stocks aren't evergreen, but investing in them over several years can pay off, according to one portfolio manager. He isn't the only one to appreciate dividend stocks right now. Neuberger Berman senior portfolio manager Sandy Pomeroy told CNBC earlier in August that dividend stocks haven't been this cheap since the tech boom of the 1990s. CME : Kirby expects the derivatives exchange will "benefit" from volatility in September, a traditionally weak month for stocks. TotalEnergies : The stock has a 5.5% dividend yield, 12% free cash yield, and a "great balance sheet," Kirby said.

Persons: Ben Kirby, Neuberger Berman, Sandy Pomeroy, Kirby, TSMC, Charles Schwab Organizations: Thornburg Investment Management, CNBC, Stock, Big Tech, CME, Kirby Locations: Taiwan

☆ September is the cruelest month for stocks. Pros share their trading tips — and what to buy
▼ + stars: | 2023-09-01 | by ( Weizhen Tan | ) www.cnbc.com time to read: +5 min

The pros share their expectations and tips for how investors can trade in the month ahead. The volatility isn't over The "potential bite" of aggressive Fed policy could lead to more volatility, said Richard Saperstein, chief investment officer at investment firm Treasury Partners, in a Tuesday note. Avoid tech — but not completely Avoid mega-cap tech stocks such as the "Magnificent Seven" now, the pros said, referring to Apple , Amazon , Alphabet , Meta , Microsoft , Nvidia and Tesla — tech stocks that have made massive gains this year. "Big tech stocks have run and valuations are richer than they have been. Dave Sekera, chief U.S. market strategist at Morningstar, said on Thursday that not all tech stocks are overvalued.

Persons: Richard Saperstein, Ben Kirby, CNBC's, Carol Schleif, George Ball, Sanders Morris Harris, Schleif, Ball, it's, Dave Sekera, Kirby, Thornburg, Morgan Stanley, Andrew Slimmon Organizations: U.S . Federal Reserve, Treasury Partners, Thornburg Investment Management, BMO Family Office, Apple, Microsoft, Nvidia, Tesla, Big Tech, Morningstar, Autodesk, Software, Teladoc, CNBC, CME, Hyatt Hotels, Hotels, Resorts, Hilton Hotels, Morgan, Morgan Stanley Investment, United Rentals Locations: U.S, China, Argentine

☆ Op-ed: Why the world needs more oil, not less
▼ + stars: | 2023-08-30 | by ( His Excellency Haitham Al Ghais | Opec Secretary General | ) www.cnbc.com time to read: +3 min

If oil vanished today, these and many other vital products and services that use oil or its derivatives would vanish too. The World Energy Report for 2022, published by the UK-based Energy Institute and consulting firms KPMG and Kearney, noted that fossil fuels constituted 82% of global energy in 2022. This is comparable to OPEC's latest world oil outlook and represents a similar level to 30 years ago. The bottom line is that it is possible to invest heavily in renewables while continuing to produce the oil the world needs today and in the coming decades. Similarly, in the EU, vehicles using petrol or diesel still accounted for around half of all car sales in 2022.

Persons: BEV, BEVS Organizations: Transportation, Energy, Energy Institute, KPMG, Kearney, Toyota Prius, U.S . National Automobile Dealers Association, EU Locations: U.S, China, Paris

On Tuesday, the court sided with Grayscale in a lawsuit against the Securities and Exchange Commission which had denied the company's application to convert the Grayscale Bitcoin Trust to an ETF. A spot bitcoin ETF would be traded through a traditional stock exchange, although the bitcoin would be held by a brokerage, and would allow investors to gain exposure to the world's biggest cryptocurrency without having to own the coin themselves. Many crypto bulls believe that approval of a spot bitcoin ETF will lead to more mainstream institutional adoption. Bitcoin , ether and other major cap crypto coins surged on the news, and Coinbase , which is listed as the custodian partner in multiple spot bitcoin ETF applications, was up more than 14% on Tuesday. The company decided to pursue the ETF, which would be backed by bitcoin rather than bitcoin derivatives, after the SEC approved ProShares' futures-based bitcoin ETF in October 2021.

Persons: bitcoin Organizations: Columbia, Appeals, Securities and Exchange Commission, Fidelity, SEC Locations: BlackRock

☆ Here's how global trade will be key to unlocking the full potential of the green hydrogen market
▼ + stars: | 2023-08-29 | by ( Sponsor Post | Created Deloitte With Insider Studios | ) www.businessinsider.com time to read: +7 min

Inclusive, global trade is the keyFree trade can help lower the cost of energy transition. Deloitte's outlook showcases a steady hydrogen market growth, from $642 billion in annual revenue in 2030 to $1.4 trillion per year in 2050, in which green hydrogen comprises some 85% of the hydrogen market. Global trade between major regions can represent almost one-fifth of total clean hydrogen volume. The opportunity for developing economiesRegions with high renewable endowment and ample land availability could likely produce cost-competitive green hydrogen in quantities that exceed domestic needs. To find out more, read Deloitte's Green hydrogen: Energizing the path to net zero report.

Organizations: Government, Global, North, Deloitte Global, SAF, Deloitte Investments, Deloitte, Insider Studios, Deloitte Touche Tohmatsu Locations: North Africa, Australia, North America, East, South America, Africa, Japan, Korea, Europe, China, India, Middle East

☆ Bitcoin rallies more than 7% as court sides with Grayscale over the SEC in crypto ETF case
▼ + stars: | 2023-08-29 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

The price of bitcoin surged Tuesday after the U.S. Court of Appeals for the DC Circuit ruled that the Securities and Exchange Commission was wrong to deny crypto investment giant Grayscale permission to convert its popular bitcoin trust into an ETF. "Today's decision reaffirms that a bitcoin ETF in the U.S. is a matter of when, not if," said Steve Kurz, Global Head of Asset Management at Galaxy, which filed with Invesco for its bitcoin ETF. Grayscale initiated its lawsuit against the SEC in June 2022 after the agency rejected its application to turn its bitcoin trust, better known by its ticker GBTC, into an ETF. The company decided to pursue the ETF, which would be backed by bitcoin rather than bitcoin derivatives, after the SEC approved ProShares' futures-based bitcoin ETF in October 2021. The Grayscale Bitcoin Trust itself jumped 16%.

Persons: Bitcoin, bitcoin, it's, Steve Kurz, Invesco, Gary Gensler, —, Jesse Pound Organizations: Metrics, U.S ., Appeals, DC Circuit, Securities and Exchange Commission, SEC, Fidelity, Asset Management, Galaxy, SEC enforcements Locations: U.S, BlackRock

☆ Bitcoin trading volume is at its lowest in more than four years
▼ + stars: | 2023-08-28 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

As of Aug. 26, bitcoin trading volume on all exchanges sat at 129,307 BTC, according to CryptoQuant. Earlier in the month, on Aug. 12, it fell to 112,317 BTC, its lowest level since Nov. 10, 2018. Bitcoin's trading volume hit its lowest level in almost five years this month as investors keep waiting for reasons to jump back into the market. As we progress further into a bull market, the trading volume may continue to pick up." Correction: On Aug. 12, bitcoin trading volume fell to 112,317 BTC, its lowest level since Nov. 10, 2018.

Persons: CryptoQuant, It's, bitcoin, Julio Moreno, haven't, Bernstein, Gautam Chhugani, Chhugani, Cantor Fitzgerald, Josh Siegler, — CNBC's Michael Bloom Organizations: BTC, CNBC, Metrics, Securities and Exchange Commission

☆ 30 dividend-paying stocks in solid sectors with upside outside the AI hype, according to a 30-year fund manager
▼ + stars: | 2023-08-27 | by ( Laila Maidan | ) www.businessinsider.com time to read: +6 min

Similar companies within the healthcare sector in his portfolio include Abbott Laboratories (ABT), which pays out a 1.95% dividend yield. Additionally, it offers a 2.35% dividend yield. Within the defense sector, he also likes Lockheed Martin (LMT), which pays a dividend yield of 2.64%. It pays out a 2.19% dividend yield plus a profit and losses payout at the end of the year. It has a 2.85% dividend yield and has increased its payout by about 8 to 10% a year, he said.

Persons: Max Wasserman, He's, Wasserman, overvalued, That's, Johnson, There's, Lockheed Martin Organizations: Miramar Capital LLC, Nasdaq, Broadcom, Microsoft, Company, NAPA Auto, Parts, Abbott Laboratories, Merck & Co, Dynamics, Group, PepsiCo Locations: Northbrook , Illinois, NAPA

☆ Nvidia's blowout earnings report is boosting this single-stock ETF
▼ + stars: | 2023-08-24 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

A blowout earnings report for Nvidia is rewarding the chipmaker's shareholders once again and delivering even bigger returns for traders who use a red-hot leveraged ETF. And the GraniteShares 1.5x Long NVDA Daily ETF (NVDL) jumped 3.5%, continuing a banner year for the single-stock ETF. NVDL 1D mountain The GraniteShares NVDL ETF has soared this year as the excitement around artificial intelligence has boosted Nvidia's stock. GraniteShares launched four more funds in the single-stock category this week, including the 1.5x Short NVDA Daily ETF (NVD) and the 1.5x Short TSLA Daily ETF (TSDD). Single-stock funds also tend to have higher expense ratios than broader funds that are not leveraged.

Persons: Will Rhind, Rhind, GraniteShares, NVDL Organizations: Nvidia, Securities and Exchange Commission, Daily Semiconductor Locations: U.S

☆ US stocks may not be ready for hawkish Powell at Jackson Hole, options data show
▼ + stars: | 2023-08-24 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

[1/2] Federal Reserve Chair Jerome Powell walks in Teton National Park where financial leaders from around the world gathered for the Jackson Hole economic symposium outside Jackson, Wyoming, U.S., August 26, 2022. REUTERS/Jim Urquhart/File Photo Acquire Licensing RightsWASHINGTON, Aug 24 (Reuters) - Investors may be underestimating the degree of potential market turbulence stemming from the Federal Reserve's economic symposium at Jackson Hole, Wyoming, potentially leaving them more vulnerable to a hawkish surprise, options strategists said. This year's symposium also comes at a time when various asset classes have become more vulnerable to outsized moves following the Jackson Hole event, according to an analysis by derivatives strategists at Barclays. Across asset classes, the average volatility-adjusted move around Jackson Hole has almost doubled in the 2017-2022 period, compared with 2010-2016, the bank's strategists wrote in a note on Tuesday. Reporting by Saqib Iqbal Ahmed; Editing by Ira Iosebashvili and Andrea RicciOur Standards: The Thomson Reuters Trust Principles.

Persons: Jerome Powell, Jackson, Jim Urquhart, Powell, Steve Sosnick, Sosnick, Chris Murphy, Saqib Iqbal Ahmed, Ira Iosebashvili, Andrea Ricci Organizations: REUTERS, Rights, Federal, Interactive, Reuters Graphics, Bank of America, Barclays, Treasury, Susquehanna Financial Group, Thomson Locations: Teton, Jackson , Wyoming, U.S, , Wyoming

Strong economic growth has spurred expectations that the Federal Reserve will leave rates higher for longer, pushing Treasury yields this month to their highest levels since 2007. The S&P 500 has lost 4% this month as the U.S. benchmark 10-year Treasury yield climbed to a more than 15-year high of 4.366% on Tuesday. Meanwhile, the S&P 500 technology sector (.SPLRCT) has dropped 5.7%, bitcoin has fallen over 10% and the ARK Innovation ETF (ARKK.P) - a bastion of many high-growth names - has dropped 18.5%. Stocks rose on Monday, with the S&P 500 closing up 0.7% and futures pointed to a further rise on Tuesday. The S&P 500 is over 8% below its January 2022 closing high.

Persons: Andrew Kelly, bitcoin, Sameer Samana, ”, Jerome Powell, Matt Maley, Miller, Goldman Sachs, Randy Frederick, Frederick, David Randall, Lewis Krauskopf, Ira Iosebashvili, Bill Berkrot Organizations: New York Stock Exchange, REUTERS, Treasury, Federal Reserve, Innovation, U.S ., Wells, Wells Fargo Investment Institute, Lipper, Investor, Deutsche Bank, Schwab Center, Financial Research, Thomson Locations: New York City, U.S, Wells Fargo, Samana, Jackson Hole , Wyoming

Their new platform is cryptocurrency exchange Coinbase Global (COIN.O), which on Aug. 16 became the first crypto-focused firm to win approval to offer cryptocurrency futures to U.S. retail customers. Yet, trading volumes in derivatives decreased by nearly 13% in July to $1.85 trillion, the lowest monthly volume since December 2022 and second lowest derivatives trading volumes since 2021, research firm CCData reported. Derivatives made up 78.2% of the total cryptocurrency trading volume on centralized exchanges in July, CCData reported. Spot cryptocurrency trading volumes also fell 10.5% to $515 billion in the same period, CCData showed. This essentially means that there is potential for growth in derivatives trading.

Persons: Dado Ruvic, Lucas Kiely, languish, disinclined, Todd Groth, CCData, Dessislava Aubert, Lisa Mattackal, Medha Singh, Sumanta Sen, Vidya Ranganathan, Mark Potter Organizations: REUTERS, Derivatives, Research, Reuters, Thomson Locations: United States, Bengaluru

☆ Factbox: China's incumbent and upcoming LNG traders
▼ + stars: | 2023-08-21 | by ( Chen Aizhu | ) www.reuters.com time to read: +5 min

A liquefied natural gas (LNG) tanker is tugged towards a thermal power station in Futtsu, east of Tokyo, Japan November 13, 2017. Below is a list of China's main gas traders and their operations globally, according to information from company sources and traders. In May, PCI became the first Chinese firm to gain long-term access to gas storage at a European gas terminal. CNOOC also plans to create a London desk in the coming year or two, following PCI and Unipec. Sumitomo Corp (8053.T), which has a desk to trade piped gas in London is considering expanding into LNG trading, said a company spokesperson.

Persons: Issei Kato, Keith Martin, Wang Bingsi, CNOOC, Norinco, ENN, Chen Aizhu, Yuka Obayashi, Florence Tan, Tom Hogue Organizations: REUTERS, Rights, PetroChina International, PCI, London, Gazprom, China National Offshore Oil Company, Gas Co, ENN, LNG, Beijing Gas, Zhejiang Energy, Zhejiang Energy Zhejiang Energy, Exxon Mobil, Mexico, China Gas Holding, China Gas, JOVO Energy, Privately, SOUTH, Mitsubishi Corp, Marubeni Corp, Tokyo Gas, Korea's SK E, Sumitomo Corp, Thomson Locations: Futtsu, Tokyo, Japan, London, Singapore, Beijing, Dubai, Houston, Sinopec, China, Jiangsu province, ENN, U.S, Hebei, Shenzhen, CNOOC, Zhejiang Energy Zhejiang, Zhejiang, Ningbo, Wenzhou, Zhejiang province, HK, Guangxi province, Yantai, Shandong province, Guangdong, Guangzhou, JAPAN, SOUTH KOREA, Asia

☆ This ETF is soaring in August as the market swoon revives winning trades from 2022
▼ + stars: | 2023-08-19 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

The fund is up 21% month to date, as of Aug. 17, according to FactSet. PFIX 1M mountain The Simplify PFIX fund has surged in August. The Simplify fund uses over-the-counter derivatives, including so-called "swaptions," in an effort to guard against rising interest rates and benefit from volatility in fixed income markets. The August rally for PFIX is reminiscent of 2022, when it rose nearly 90% as the Federal Reserve aggressively hiked rates. PFIX now has $218 million in assets under management, and has had trading volume above 100,000 shares shares per day in August, according to FactSet.

Persons: PFIX Organizations: Federal Reserve, SEC

☆ Goldman Sachs: These 30 options trades can help investors profit from both stock market winners and underperformers
▼ + stars: | 2023-08-18 | by ( Mark Reeth | ) www.businessinsider.com time to read: +2 min

Investors who have to pick between bulls and bears now have a way to profit from winners and losers. Goldman Sachs has found 30 stock market outperformers and underperformers to invest in with options. This simple options investing strategy finds the best and worst stocks and uses puts and calls. It's been a weird year for investors, who have found themselves torn between calls for recession and market exuberance. But analysts at Goldman Sachs, led by John Marshall, head of derivatives research, have found an ingenious solution.

Persons: Goldman Sachs, It's, John Marshall, Marshall, Sharpe Locations: Wall

☆ Bitcoin price on the skids as investors pull money from crypto
▼ + stars: | 2023-08-18 | by ( Anna Cooban | ) edition.cnn.com time to read: +2 min

London CNN —The price of bitcoin has dropped nearly 9% since early Thursday as part of a broader sell-off of risky assets. According to CoinGlass, a cryptocurrency trading platform, $1 billion has been drained from cryptocurrencies over the past 24 hours — with bitcoin accounting for nearly half of that loss. The report sparked “a panicked reaction in the crypto market,” Hani Abuagla, senior market analyst at online broker XTB, said in a Friday note. Tesla (TSLA) also dumped a big chunk of its own bitcoin holdings last year. The crypto market has faced pressure from US regulators in recent months.

Persons: ’, CoinGlass, Thursday’s, ” Hani Abuagla, XTB, Tesla, Coinbase Organizations: London CNN, Elon, US Federal Reserve, Street, SpaceX, Securities and Exchange Commission Locations: cryptocurrencies, CoinMarketCap

☆ China unveils measures to revive stock market
▼ + stars: | 2023-08-18 | by ( ) www.reuters.com time to read: +3 min

The China Securities Regulatory Commission (CSRC) proposed steps including cutting trading costs, supporting share buybacks and encouraging long-term investment to support a stock market (.CSI300) that has slid to nine-month lows. China's leaders vowed in late July to reinvigorate the stock market, which has been reeling as the country's economic recovery flags and woes in the property market deepen. The CSRC said on Friday that stablizing the stock market was a priority. "Without a relatively stable market environment, there's no basis for reviving the market and lifting sentiment," the regulator said. "The key to lifting market sentiment is to rescue the economy, and the property market is the crux," Niu said.

Persons: Aly, CSRC, Niu Chunbao, Niu, Pang Xichun, Jason Xue, Samuel Shen, Tom Westbrook, Toby Chopra, Jan Harvey Organizations: REUTERS, Rights, China Securities Regulatory Commission, Ministry of Finance, Wanji Asset Management, Nanjing RiskHunt Investment Management, Thomson Locations: Shanghai, China, Nanjing, Singapore

☆ China's sliding yuan could be next 'black swan event' for markets, hedge fund EDL says
▼ + stars: | 2023-08-17 | by ( Nell Mackenzie | ) www.reuters.com time to read: +2 min

Coins and banknotes of China's yuan are seen in this illustration picture taken February 24, 2022. REUTERS/Florence Lo/Illustration/File Photo Acquire Licensing RightsLONDON, Aug 17 (Reuters - Hedge fund EDL Capital is betting on further falls for China's offshore currency and says the yuan's slide could be the next "black swan event" to rattle world markets, according to an investor presentation this month seen by Reuters. The U.S. dollar has strengthened roughly 6% against the offshore yuan so far this year and Chinese state banks have been seen selling dollars this week to stem the yuan fall. The hedge fund held a short position in the offshore yuan , the Aug. 2 presentation shows. The hedge fund, run by star manager Edouard de Langlade, was up about 8% this year, said the presentation.

Persons: Florence Lo, Edouard de Langlade, Nell Mackenzie, Dhara Ranasinghe, Mark Potter Organizations: REUTERS, Capital, Reuters, The U.S, Thomson Locations: China, Vietnam, India, United States, Switzerland

☆ Goldman Sachs: Here are the 20 options trades to make now using an investing strategy that has outperformed the market for the last 27 years
▼ + stars: | 2023-08-17 | by ( Mark Reeth | ) www.businessinsider.com time to read: +3 min

Goldman Sachs created an options investing strategy that has outperformed the S&P 500 for 27 years. Analysts at Goldman Sachs break down the 20 stocks that investors can use this strategy with now. Market-beating options trading strategyIn essence, this profitable options strategy boils down to one simple concept: overwriting. "Over the past 27 years, buy-write strategies have outperformed the total return of the S&P 500 on a risk-adjusted basis," Marshall wrote. So, Marshall screened for stocks in the top two-thirds of Goldman Sachs' stock coverage universe, as well as stocks with implied volatility in the top two-thirds.

Persons: Goldman Sachs, John Marshall, Marshall, Sharpe, outperforming Organizations: Goldman

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