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☆ Should you lock in those high yields right now? Here's what Wall Street is saying, and how to invest
▼ + stars: | 2023-10-20 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

But with 10-year Treasury yields surging to 5% - a 16-year high , many investors might now be tempted to lock in those high yields and buy into bonds. "You may not see such high yields as these in the next year or two," he told CNBC's " Squawk Box Asia " on Thursday. Bond prices and bond yields move in opposite directions. It's unfavorable on U.S. intermediate-term fixed income, as well as high yield taxable fixed income. Types of fixed income that it's overweight on include short-term U.S. Treasurys, U.S. inflation-linked bonds, U.K. gilts and emerging market bonds.

Persons: Wells, Paul Christopher, CNBC's, Christopher, Wells Fargo, Thomas Poullaouec, Rowe Price, Wells Fargo's Scott Wren, Bryn Jones, Rathbones, there's, Jones, He's, BlackRock Organizations: Investment, U.S, gilts, BlackRock Investment, U.S . Federal Reserve, Treasurys Locations: Asia, Pacific

☆ Bitcoin hits two-month high above $30,000 in volatile week
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +2 min

A bitcoin is seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, June 23, 2017. REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsLONDON, Oct 20 (Reuters) - Bitcoin jumped on Friday above $30,000 for first time since July , taking gains for the week past 10%, against a backdrop of volatile trading across cryptocurrencies. Bitcoin, the largest cryptocurrency by circulation, climbed as high as $30,022, its highest since July 23. There was no immediate news catalyst for the move in bitcoin, said Joseph Edwards, head of research at London crypto firm Enigma Securities. The approval of any such applications, crypto investors have said, could usher in a new wave of capital to the asset class.

Persons: Benoit Tessier, Bitcoin, Joseph Edwards, Ben Laidler, Tom Wilson, Elizabeth Howcroft, Amanda Cooper Organizations: La Maison du, REUTERS, Securities, U.S . Securities, Exchange Commission, SEC, BlackRock, Thomson Locations: La, Paris, France, cryptocurrencies, bitcoin, London

☆ Why corporate America can't stay silent on Hamas's October 7 attacks on Israel
▼ + stars: | 2023-10-20 | by ( Elliott Gotkine | ) edition.cnn.com time to read: +4 min

London CNN —From ESG investing (Blackrock), to gay rights (Disney), to Donald Trump after the Capitol riots (mainstream corporate America), companies routinely take a stand. But when the barbarous scale of Hamas’s October 7 attacks on Israel became clear, staying silent ceased to be an option. “Saying nothing speaks to cowardice,” said Jeffrey Sonnenfeld, a professor at the Yale School of Management who focuses on corporate leadership among other issues. All in, around 80 household-name companies in America have condemned the Hamas attacks, as tracked by Sonnenfeld who maintains a list. “Not taking a stand is taking a stand,” Susan, who served in the Israeli special forces, told CNN.

Persons: Donald Trump, Colin Kaepernick, Bud Light’s, ”, Jeffrey Sonnenfeld, “, Satya Nadella, ” Sundar Pichai, Sonnenfeld, , Paddy Cosgrove, Israel, Sundar Pichai, Israel Jose Luis Magana, Susan, ” Susan, ” Richard Griffiths, Citigate Dewe Rogerson, ” Griffiths Organizations: London CNN, Blackrock, America, Nike, Yale School of Management, Microsoft, Google, ” Disney, Tottenham Hotspur Football Club, Web, Eclipse, CNN, “, London Locations: Israel, America, United States, United Kingdom, Gaza, Ukraine, ”, Russia

☆ Bitcoin jumps as ETF hopes drive the token to $30,000
▼ + stars: | 2023-10-20 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

The token spiked 10% briefly on Tuesday after a false report said the SEC approved BlackRock's spot bitcoin ETF. Bullishness around a the spot bitcoin ETF is high, with calls growing for the SEC to sign off on a first-ever fund. AdvertisementAdvertisementBitcoin moved above $30,000 on Friday, spiking above the closely watched threshold before paring some gains, as a week of bullishness around a spot bitcoin ETF helps push the token higher. Hopes for a spot bitcoin exchange-traded fund have helped fuel the latest rally. The SEC has already approved bitcoin futures ETFs, though regulators have turned down bitcoin spot ETF applications repeatedly in recent years.

Persons: Bitcoin, —, Mike Novogratz, Novogratz, Gary Gensler Organizations: SEC, Service, Securities and Exchange Commission, Fidelity, Galaxy Digital, House Financial Services Locations: New York, BlackRock

Felipe Villarroel, portfolio manager at TwentyFour Asset Management, said he recently swapped some 10-year Treasuries for higher yielding 30-year Treasuries. At these levels, yields give “a massive cushion in your total returns" to protect against bond prices falling further, he said. Yields on the benchmark 10-year U.S. Treasury were over 4.95% in Asia trade on Thursday, their highest level in more than 16 years, and 30-year yields breached 5% this month for the first time since 2007. An auction of 30-year U.S. Treasuries showed weak demand last week, sending yields higher. "The tightness that (bond yields) are imposing on the economy and markets is rising ... this caps the extra work the Fed needs to do," said Smith.

Persons: Jerome Powell, David Rubenstein, Amanda Andrade, Rhoades, Felipe Villarroel, Treasuries, Matt Smith, Ruffer, Buyers, Leslie Falconio, Ruffer's Smith, Smith, Davide Barbuscia, Michelle Price, Ira Iosebashvili, Nick Zieminski Organizations: Federal, Economic, of Washington, Washington , D.C, REUTERS, Treasuries, TwentyFour Asset Management, Bank of America Global Research, Treasury, UBS Global Wealth Management, BlackRock Investment Institute, Thomson Locations: Washington ,, Asia

☆ Rentokil may be next to nibble at US listing
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Mike Blake Acquire Licensing RightsLONDON, Oct 19 (Reuters Breakingviews) - Rentokil (RTO.L) is an obvious contender to ditch its London listing in favour of the U.S. CEO Andy Ransom said that it is getting harder to win new business due to “the macroeconomic backdrop”. Rollins is valued on nearly 38 times its forward earnings, versus Rentokil which was trading on just 23 times before Thursday’s fall, according to LSEG data. With Rentokil shareholders a little ratty, Ransom may come under more pressure to consider ways of pepping up the stock, like ditching London in favour of the more highly valued U.S. market. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Mike Blake, Andy Ransom, Ransom, Rollins, Aimee Donnellan, Jean, Pierre Mustier, Atos, Larry Fink, Uncle Sam, Neil Unmack, Oliver Taslic Organizations: REUTERS, Reuters, U.S, X, News Corp, Thomson Locations: Los Angeles , California, U.S

☆ This structured credit ETF offers a higher yield than Treasuries and just hit $4 billion in assets
▼ + stars: | 2023-10-18 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

The Janus Henderson AAA CLO ETF (JAAA) , which buys highly rated collateralized loan obligations, has grown rapidly this year and outperformed many popular bond ETFs. The fund has a 30-day SEC yield of 6.66%, putting it above the yield of U.S. Treasuries. JAAA YTD mountain The JAAA ETF has held up this year despite rising interest rates. There are other CLO ETFs on the market, including the BlackRock AAA CLO ETF (CLOA) that launched earlier this year, but JAAA is the largest. Given the size and depth of the AAA CLO market, the fund should have no problems operating until it is about $20 billion in assets, at least, he estimated.

Persons: Janus Henderson, John Kerschner, Kerschner, JAAA Organizations: Janus Henderson AAA CLO, SEC, CLOs, Treasury, Treasury Bond ETF, CNBC, JPMorgan AAA CLO, BlackRock AAA, AAA Locations: JAAA

One mom told AP about how she had delayed important care for her child because she believed Kennedy’s vaccine falsehoods. The AP found dozens of individuals included in the book died of known causes not related to vaccines, including suicide, choking while intoxicated, overdose and allergic reaction. Kennedy’s Children’s Health Defense produces articles, newsletters, books, podcasts, even TV shows on its own CHD.TV. And hack into that.”Because of his national profile, Kennedy’s work has ripple effects beyond the most devoted anti-vaccine activists. But people involved in the response who spoke to AP said Kennedy and the anti-vaccine activists he supported made things worse.

Persons: Braden Fahey, Gina, Padrig Fahey, ”, Robert F, Kennedy Jr, John F, Kennedy’s, Kennedy, Braden, ” Gina Fahey, “, Sen, that’s, Joe Biden, Donald Trump, Gina Fahey, “ There’s, “ It’s, CHD, Skyhorse, Edward Dowd, Matthew Martinez, Dowd, Tony Lyons, Lyons, Braden's, Francesco Pierri, Matthew DeVerna, Lydia Greene, Greene, ” Greene, ’, Sharon Goldfarb, ” Goldfarb, you’re, …, Dr, Todd Wolynn, ” Wolynn, Trump, Vivek Ramaswamy, he’d, Ron DeSantis, Floridians, Daniel Jolley, Jolley, ” Jolley, Cheryl Hines, Edwin Tamasese, Taylor Winterstein, Helen Petousis, Harris, Moelagi Leilani Jackson, Richard Pan, Pan, Jr, ” Pan, Anthony Fauci, Kerry Kennedy, –, ” Kerry Kennedy, Terry Chea Organizations: Associated Press, Democratic, AP, Skyhorse Publishing, Children’s Health Defense, ”, BlackRock, Atlantic Health, Morristown Medical Center, Kennedy Super, Children's Health Defense, Skyhorse, Indiana University’s Observatory, Social Media, Twitter, Health Defense, Disease Control, Republican, GOP, COVID, Florida Gov, University of Nottingham, Public, RFK, Facebook, Press Locations: California, U.S, Morristown, COVID, New, Hudson, Canadian, Alberta, Berkeley , California, Pittsburgh, Samoa, New Zealand, Sacramento , California, Sacramento, America

☆ Saudi is wild card in Middle East’s new turmoil
▼ + stars: | 2023-10-18 | by ( George Hay | ) www.reuters.com time to read: +8 min

Saudi Crown Prince Mohammed bin Salman attends the 18th consultative meeting of the leaders of the GCC & the Gulf summit with the central Asian countries C5, in Jeddah, Saudi Arabia, July 19, 2023. Saudi Press Agency/Handout via REUTERS Acquire Licensing RightsLONDON, Oct 18 (Reuters Breakingviews) - Mohammed bin Salman is the wild card in the Middle East’s new conflict. Saudi Arabia also needs prices above $85 a barrel in order to balance its budget. Saudi Arabia also needs to consider the views of international investors, though. For now, Saudi Arabia can count on the support of global bankers and fund managers.

Persons: Prince Mohammed bin Salman, Mohammed bin Salman, Joe Biden, Benjamin Netanyahu, Israel’s, Biden, Netanyahu, International Energy Agency reckons, Jamal Khashoggi, nix, Larry Fink, JPMorgan’s, Jamie Dimon, Israel, Antony Blinken, Jordan, ” Blinken, ”, “, Hossein Amirabdollahian, Al Jazeera, Peter Thal Larsen, Oliver Taslic Organizations: GCC, Saudi Press Agency, Handout, REUTERS Acquire, Reuters, Hamas, Israel . U.S, MbS, United, Gaza, International Energy Agency, Reuters Graphics Reuters, Saudi, kingdom’s Public Investment Fund, U.S, PGA, Foreign Investment, Telefonica, STC, BlackRock’s, Future Investment, United States, Diplomats, don’t, Palestinian, Israeli, United Arab, Iran’s, Thomson Locations: Saudi, Jeddah, Saudi Arabia, Israel, Iran, Palestinian, Israel ., United States, Gaza, OPEC, Russia, Saudi Aramco, Riyadh, Palestine, United, Amman, Jordan, Bahrain, Qatar, United Arab Emirates, Egypt, Lebanon, America

☆ P&G price hikes have no-tears effect on US wallets
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +2 min

Pampers, a brand owned by Procter & Gamble, is seen for sale in a store in Manhattan, New York City, U.S., June 29, 2022. REUTERS/Andrew Kelly Acquire Licensing RightsWashington/NEW YORK, Oct 18 (Reuters Breakingviews) - If Americans are fed up with inflation, their checking accounts aren’t showing it. Procter & Gamble (PG.N) topped earnings expectations on Wednesday after raising prices 7% year-over-year in the third quarter. Imagine all producers of such goods raised prices by 7% in the past year, as P&G did. P&G credits innovation, and if it can squeeze where others can’t, it may even be able to raise prices more.

Persons: Andrew Kelly, Forrester, Ben Winck, John Foley, Jean, Pierre Mustier, Atos, Larry Fink, Uncle Sam, Lauren Silva Laughlin, Sharon Lam, Aditya Sriwatsav Organizations: Procter & Gamble, REUTERS, Washington, Reuters, of America, PepsiCo, X, News Corp, Thomson Locations: Manhattan , New York City, U.S

☆ Mike Novogratz thinks the SEC will approve a bitcoin ETF as early as this year
▼ + stars: | 2023-10-18 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

The crypto market has effectively been on pause – aside from a quick and short-lived spike this week – as investors wait for the SEC to give the green light to a bitcoin ETF. This week bitcoin, as well as shares of Coinbase , briefly spiked on a false report that BlackRock 's proposed spot bitcoin ETF had been approved by the SEC. BlackRock first filed its application in June and several other institutional players including Galaxy followed, taking BlackRock's move as a bullish signal for bitcoin ETF prospects as well as the long-term trajectory of bitcoin itself. Although no bitcoin ETF has been greenlit still, Novogratz highlighted BlackRock's bitcoin blessing on Wednesday as another sign that "the dialogue with the SEC is all heading in the right direction." Ark Invest CEO Cathie Wood echoed that sentiment this week, telling CNBC's "Halftime Report" the "SEC is engaging with us for a bitcoin ETF application.

Persons: Mike Novogratz, Novogratz, Cathie Wood, CNBC's, bitcoin, Godot Organizations: SEC, Galaxy Investment Partners, Invesco, CNBC Wednesday, Securities and Exchange Commission, Coinbase, BlackRock, Galaxy Locations: U.S

☆ A spot bitcoin ETF is coming this year and the SEC's loss in court made clear that its opposition makes 'intellectually zero sense,' billionaire crypto bull Mike Novogratz says
▼ + stars: | 2023-10-18 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

A spot bitcoin ETF could be coming as soon as this year, crypto bull Mike Novogratz said. Still, regulators have repeatedly punted on a decision to approve any bitcoin ETF this year. AdvertisementAdvertisementA spot bitcoin exchange traded fund is coming as soon as 2023, according to Galaxy Digital CEO Mike Novogratz. The billionaire crypto bull pointed to multiple requests by firms to launch a spot bitcoin ETF over the past year. There's also high demand for a spot bitcoin ETF.

Persons: Mike Novogratz, —, Novogratz, There's, Bitcoin, Larry Fink's Organizations: CNBC, Service, Galaxy Digital, Securities and Exchange Commission, SEC, BlackRock Locations: BlackRock

☆ Vanguard sells stake in joint venture with China's Ant
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: +1 min

A logo of Ant Group is pictured at the headquarters of Ant Group, an affiliate of Alibaba, in Hangzhou, Zhejiang province, China October 29, 2020. REUTERS/Aly Song/File Photo Acquire Licensing RightsOct 17 (Reuters) - U.S. mutual fund issuer Vanguard Group said on Tuesday it had sold its stake in a joint venture with Chinese fintech giant Ant Group, hastening its retreat from the world's second-biggest economy. Vanguard said it will prioritize regions where it offers its own investment products and services. Its 49% stake in the venture, a digital investment advisory service, has been sold to Ant. A Reuters report in March said Vanguard was mulling a retreat from China after a six-year presence in the country.

Persons: Aly, Niket, Anil D'Silva Organizations: Ant Group, REUTERS, Vanguard, Ant, BlackRock, Fidelity, Reuters, Bloomberg News, Thomson Locations: Alibaba, Hangzhou, Zhejiang province, China, Washington, Beijing, Taiwan, Bengaluru

☆ Asia stocks rise on earnings hopes; keep wary eye on Mideast tensions
▼ + stars: | 2023-10-17 | by ( Selena Li | ) www.reuters.com time to read: +3 min

A man looks at an electric board displaying the Nikkei stock average outside a brokerage in Tokyo, Japan June 14, 2023. Overnight the S&P 500 (.SPX) had climbed 1%, while oil prices and the U.S. dollar had fallen. Benchmark 10-year Treasury yields are about 15 basis points off 16-year highs, though they crept higher in Asia trade Tuesday to 4.7331%. The euro traded at $1.0549 and the yen hovered just short of the 150-per-dollar mark at 149.53. If investors don't receive the coupon payment, all of Country Garden's offshore debts will be deemed in default.

Persons: Kim Kyung, Kerry Craig, Goldman Sachs, Morgan Stanley, Johnson, Craig, Joe Biden, Israel, Israel's shekel, Bitcoin, Selena Li, Shri Navaratnam Organizations: Nikkei, REUTERS, Tokyo's Nikkei, U.S ., Morgan Asset Management, Bank of America, Johnson, Netflix, Federal Reserve, Israel, Hamas, Iran's, HK, Brent, BlackRock, Thomson Locations: Tokyo, Japan, HONG KONG, U.S, Asia, Pacific, Gaza, Iran, Zealand, Brent

☆ Volatility in the Treasury market likely isn't over and the 10-year yield could reach 5%, BlackRock says
▼ + stars: | 2023-10-17 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The asset manager said the 10-year Treasury yield will probably hit 5%. AdvertisementAdvertisementThe US Treasury market is still in for big swings of volatility, which could push the yield on the 10-year Treasury bond to 5%, according to BlackRock. "We have been underweight long-term US Treasuries since late 2020 as we saw the new macro regime heralding higher rates. Over the short-term though, Treasury yields are likely to experience more volatility, potentially swinging in both directions. But the economy is still under pressure from higher Treasury yields, which also work to tighten the screws on financial conditions.

Persons: —, Phillip Colmar Organizations: US Treasury, BlackRock, Service, Treasury, MRB Partners, Fed Locations: BlackRock

☆ Vanguard sells stake in joint venture with Ant - Bloomberg News
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: +1 min

A logo of Ant Group is pictured at the headquarters of Ant Group, an affiliate of Alibaba, in Hangzhou, Zhejiang province, China October 29, 2020. REUTERS/Aly Song/File Photo Acquire Licensing RightsOct 17 (Reuters) - U.S. asset management giant Vanguard Group has sold its 49% stake in a joint venture with Jack Ma-backed Ant Group Co, Bloomberg News reported on Tuesday, citing people familiar with the matter. An increase in geopolitical tensions recently, however, has prompted some investing giants to split off their China arms. Vanguard did not immediately respond to a Reuters request for comment. Ant did not respond to a request for comment outside business hours.

Persons: Aly, Jack Ma, Ant, Niket, Anil D'Silva Organizations: Ant Group, REUTERS, Vanguard, Ant, Bloomberg, BlackRock, Fidelity, Thomson Locations: Alibaba, Hangzhou, Zhejiang province, China, U.S, Bengaluru

☆ BlackRock Investment Institute raises rating of long-dated US Treasuries
▼ + stars: | 2023-10-16 | by ( ) www.reuters.com time to read: 1 min

A bronze seal for the Department of the Treasury is shown at the U.S. Treasury building in Washington, U.S., January 20, 2023. REUTERS/Kevin Lamarque/File Photo Acquire Licensing RightsOct 16 (Reuters) - BlackRock Investment Institute on Monday raised the rating of long-dated U.S. Treasuries to "neutral" from "underweight" as it sees yields approaching a peak. "We now see about equal odds that long-term yields swing in either direction," said Jean Boivin, head of BlackRock Investment Institute. BlackRock Investment Institute, an arm of U.S.-based investment firm BlackRock that provides proprietary investment research, is "overweight" on euro area and UK bonds as it sees more rate cuts than the market in these regions. Reporting by Susan Mathew in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Kevin Lamarque, Jean Boivin, Susan Mathew, Shounak Dasgupta Organizations: Department of, U.S . Treasury, REUTERS, BlackRock Investment, BlackRock Investment Institute, Thomson Locations: Washington , U.S, U.S, BlackRock, Bengaluru

☆ CNBC Daily Open: JPMorgan's big profit growth isn’t likely to persist
▼ + stars: | 2023-10-16 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

What you need to know todayThe bottom lineGoing into this earnings season, analysts feared big banks' income wouldn't hold up from the previous quarters. Net interest income, in particular, was higher than expected. interest rate on their savings, and charge borrowers a high interest rate, usually pegged to the federal funds rate. On the contrary, net interest income rose from a year ago at JPMorgan and Wells Fargo , and beat expectations at Citigroup . Dimon acknowledged that his bank's "over-earning" on net interest income, a benefit that will vanish eventually.

Persons: Michael Nagle, Wells, Jamie Dimon isn't, Dimon, Larry Fink, that's Organizations: JPMorgan Chase &, Bloomberg, Getty, CNBC, . Treasury, JPMorgan, Citigroup, Nasdaq, Dow Jones Industrial, University of Michigan's Locations: New York, Wells Fargo, Ukraine, Israel

But bitcoin fell sharply after a Fox Business reporter said on the social media platform X that BlackRock denied the report. loadingBlackRock later confirmed to Reuters that "the iShares Bitcoin ETP application is still under review by the SEC." "Crypto markets have just shown how sensitive they are to any potential good news, with their premature rally today on rumors of the approval of a spot bitcoin ETF," said Ben Laidler, global markets strategist at eToro. Crypto markets have been awaiting news on several pending spot bitcoin ETF applications, which, if approved, are widely expected to drive investment in the sector. The SEC has denied all spot bitcoin ETF applications on the grounds applicants have not shown they can protect investors from market manipulation.

Persons: Dado Ruvic, bitcoin, Ben Laidler, Joseph Edwards, Lucas Kiely, Tom Wilson, Elizabeth Howcroft, Hannah Lang, Suzanne McGee, Tommy Reggiori Wilkes, Sharon Singleton, Josie Kao Organizations: REUTERS, BlackRock, U.S . Securities, Exchange Commission, Fox Business, Reuters, SEC, Securities, Columbia, Thomson Locations: WASHINGTON, London, Washington

☆ Cryptocurrencies rise, sending bitcoin over $30,000 at one point, on optimism for a new ETF
▼ + stars: | 2023-10-16 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

At one point Monday morning, bitcoin surged above $30,000 in a sudden spike on an unconfirmed report that the iShares spot bitcoin ETF had been formally approved by the Securities and Exchange Commission. Cryptocurrencies briefly soared to start the week as hopeful investors weighed the likelihood that the U.S. will finally see a bitcoin ETF in the coming months. Last week, bitcoin had jumped on Friday on news that the SEC would not appeal a ruling in Grayscale's lawsuit against regulators. In June of 2022, Grayscale sued the SEC over its denial of the company's application to convert the popular Grayscale Bitcoin Trust (GBTC) to an ETF. To be sure, bitcoin is coming off its worst week since Aug. 18 and first negative week in six.

Persons: bitcoin, Cryptocurrencies, rehearing, Paul Tudor Jones, Bernstein, Ripple's, —, Jesse Pound, Nick Wells, John Melloy Organizations: Securities and Exchange Commission, BlackRock, CNBC, SEC, Metrics, Appeals, Smart Locations: U.S

☆ Starboard dusts off old plan at News Corp
▼ + stars: | 2023-10-16 | by ( ) www.reuters.com time to read: +2 min

A view of the signage outside the News Corporation building in New York, U.S., September 21, 2023. REUTERS/Bing Guan Acquire Licensing RightsNEW YORK, Oct 16 (Reuters Breakingviews) - Maybe it takes a pile on to move the Murdoch family’s thinking. Reuters reported on Friday that Jeff Smith’s Starboard is the latest activist to try and unlock value at News Corp (NWSA.O), the publisher of the Wall Street Journal, owner of book conglomerate HarperCollins and Realtor.com. Starboard, which took a position in the $13 billion company, is pushing for a spinoff of the real estate assets, according to the Wall Street Journal. Last year Irenic Capital Management agitated for the same transaction in reaction to the Murdochs’ desire to reunite News Corp with broadcasting company Fox (FOXA.O).

Persons: Bing Guan, Murdoch, Jeff Smith’s, pushback, Jennifer Saba, Jean, Pierre Mustier, Atos, Larry Fink, Uncle Sam, Lauren Silva Laughlin, Sharon Lam, Aditya Sriwatsav Organizations: News Corporation, REUTERS, Reuters, News Corp, Wall Street Journal, HarperCollins, Wall Street, Capital Management, Fox, X, Thomson Locations: New York, U.S, Europe

A spot bitcoin ETF would give investors exposure to the world's largest cryptocurrency by market capitalization without having to own it. The SEC has denied all spot bitcoin ETF applications, including Grayscale's, on the grounds applicants have not shown they can protect investors from market manipulation. The appeals court ruled that the SEC arbitrarily denied Grayscale's application because it never explained why the two arrangements were materially different. The appeals court is expected to issue a mandate specifying how its decision should be executed, which will likely include instructing the SEC to revisit Grayscale's application. Several other asset managers, including BlackRock (BLK.N), Fidelity and Invesco, have similar filings pending with the SEC for a spot bitcoin ETF.

Persons: Jim Bourg, Grayscale's, Chris Prentice, Hannah Lang, Michelle Price, Rod Nickel Organizations: U.S . Securities, Exchange Commission, SEC, REUTERS, Columbia, BlackRock, Fidelity, Thomson Locations: Washington

Wall Street's three major indexes opened higher but lost ground after a preliminary reading on U.S. consumer sentiment showed a sharp fall in October. The moves in bonds, equities and oil reflect worries about deteriorating consumer sentiment, the global economy and geopolitical conflict, she added. However, for the week the S&P 500 registered a 0.45% gain for its second weekly advance in a row. The S&P 500 Banks index (.SPXBK) pared gains as the day wore on to close up 0.6% after rising as much as 3.4% to a three-week high. The S&P 500 posted 12 new 52-week highs and 20 new lows; the Nasdaq Composite recorded 28 new highs and 335 new lows.

Persons: Brendan McDermid, Wells, Wall, Dow, Israel, Lauren Goodwin, Goodwin, Patrick Harker, Todd Vasos, Jeff Owen, advancers, Sinéad Carew, Shashwat Chauhan, Ankika Biswas, Shounak Dasgupta, Anil D'Silva, Shinjini Ganguli, Richard Chang Organizations: New York Stock Exchange, REUTERS, JPMorgan, Dow, Nasdaq, The United Nations, Treasury, New York Life Investments, Dow Jones, JPMorgan Chase, Citigroup, Federal Reserve Bank of Philadelphia, BlackRock, Dollar, Boeing, NYSE, Thomson Locations: New York City, U.S, Wells Fargo, Gaza, Israel, BLK.N, Bengaluru

The firm's results "underscore continued pressure on industry organic growth that may last longer than currently reflected in investors’ expectations amid higher-for-longer short-term rates," analysts at Goldman Sachs wrote in a report Friday. "While we are encouraged by the firm’s sharper focus on expenses, we expect (BlackRock's) near-term organic base fee growth to remain muted." Investors are likely waiting for yields to peak before making any significant changes in their asset allocation, BlackRock said. "The long-term trend of clients consolidating more of their portfolios with BlackRock is only accelerating, and underlying business momentum remains strong," Fink said. The New York-based company's chief source of revenue is the management fees it earns as a percentage of the total AUM.

Persons: Brendan McDermid, Larry Fink, Fink, Kyle Sanders, Edward Jones, Larry, Goldman Sachs, . Fink, Cathy Seifert, Jaiveer Singh, Devika Syamnath, Jonathan Oatis Organizations: BlackRock, New York Stock Exchange, REUTERS, Federal Reserve, Goldman, CNBC, Revenue, The, Thomson Locations: New York City, U.S, BlackRock, The New York, Bengaluru

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