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☆ BlackRock’s bond guru has a new ETF aiming for a 7% yield
▼ + stars: | 2023-05-23 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

BlackRock's Flexible Income ETF (BINC) began trading Tuesday and is managed by Rick Rieder, the firm's chief investment officer of global fixed income. The actively managed fund has a net expense ratio of 0.40%. "For the average investor, it's pretty hard to differentiate in fixed income. The fund holds fixed income from multiple sectors, including high-yield bonds, European investment-grade debt and emerging market debt. The BlackRock Large Cap Value ETF (BLCV) is managed by Tony DeSpirito, the firm's global chief investment officer of fundamental equities.

Persons: Rick Rieder, Rieder, Rachel Aguirre, Tony DeSpirito Organizations: BlackRock, Federal Reserve Locations: U.S

☆ Guatemala's presidential frontrunner thrown off ballot, promises appeal
▼ + stars: | 2023-05-20 | by ( Sofia Menchu | ) www.reuters.com time to read: +2 min

He accused the court of kicking him off the ballot because he refused to be an "ally of corruption." In a recent poll, Pineda led all candidates with 23% support, emerging as the favorite to replace Giammattei. Critics accuse Giammattei of unprecedented repression of judges, prosecutors, journalists and activists, many of whom have fled the country. Pineda had been a CAMBIO party presidential candidate before switching to PC earlier this year, due to clashes with the Baldizon family. Other presidential hopefuls, leftist Thelma Cabrera and conservative Roberto Arzu, were previously forced out of the race.

☆ In a new hacking crime wave, much more personal data is being held hostage
▼ + stars: | 2023-05-07 | by ( Kevin Travers | ) www.cnbc.com time to read: +5 min

Gorodenkoff | iStock | Getty ImagesThe cybersecurity world faces new threats beyond targeted ransomware attacks, according to experts at the recent RSA cybersecurity industry conference in San Francisco. McMann said hackers are now focusing on stealing customer or employee data and then threatening to leak it publicly. At the end of March, OpenAI documented a data leak in an open-source data provider that made it possible to see personal AI chat histories, payment information, and addresses. The team patched the leak in hours, but McMann said once data is out there, hackers can use it. "For example, the LastPass breach saw one of four key individuals targeted on their personal computer, through a personal public IP address getting in through an unpatched solution," he said.

☆ Fact Check-German judges in court cases did not rule on whether measles virus exists
▼ + stars: | 2023-05-05 | by ( Reuters Fact Check | ) www.reuters.com time to read: +5 min

Judges presiding over a German court case between 2013 and 2016 involving the measles virus settled a civil dispute about a promised payment and did not rule on the existence of the virus itself, contrary to social media posts falsely claiming the courts decided the virus does not exist. However, judges presiding over the case and subsequent appeals to which the articles refer did not rule on the existence of the measles virus, and expressly said this in court. Dr. David Bardens, a medical student, responded to Lanka’s measles virus challenge on Jan. 31, 2012. He submitted six studies (see citations in clause 21 here) which, Bardens said, provided Lanka with proof that the measles virus exists, and of its size. They did not rule on the existence or non-existence of the measles virus.

☆ Opinion | Dianne Feinstein Has to Act
▼ + stars: | 2023-05-05 | by ( The Editorial Board | ) www.nytimes.com time to read: +2 min

Without Senator Dianne Feinstein, there might never have been an assault weapons ban in 1994. Or the Gun-Free Schools Act of 1994. Her absence is a failure that deprives American voters of full representation on legislation and appointments that will affect them for decades to come. (Proxy voting is allowed in the committee, but a proxy cannot be the decisive vote if the committee is otherwise evenly divided, as it often is.) Ms. Feinstein offered to step away from the committee, but Republican senators blocked any effort at appointing a temporary replacement.

☆ Opinion | Biden Can Close the Legal Black Hole at Guantánamo
▼ + stars: | 2023-04-29 | by ( The Editorial Board | ) www.nytimes.com time to read: +2 min

Last week, Said bin Brahim bin Umran Bakush was released from detention at Guantánamo Bay, Cuba, and returned to Algeria, his home country. Mr. Biden wisely avoided the kind of highly public pledges to close down the prison that President Barack Obama made and could not keep. Clearing out the remaining prisoners requires cutting through a tangle of laws, policies, procedures and bureaucratic secrecy. Mr. Biden can use his authority to order the Departments of Defense, Justice and State, the intelligence agencies and other agencies involved to coordinate their efforts and direct their resources to make it happen, as quickly as possible. As long as there are people held in detention at Guantánamo, America’s condemnations of brutal detention centers in China and Syria will ring hollow.

☆ Cruise lines benefiting from consumer shift to experiential spending, says JPMorgan's Matt Boss
▼ + stars: | 2023-04-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCruise lines benefiting from consumer shift to experiential spending, says JPMorgan's Matt BossJPMorgan's Matt Boss joins 'Halftime Report' to discuss the return of fundamentals in the cruise lines space, the return to experiential spending, and cruises appealing to the consumer desire for value and convenience.

Low and stable inflation is good for markets and the economy, so central banks had to show their seriousness on inflation, Tannenbaum added. Central banks softened rate rises with communication that was mindful of instability risks, showing reassuring "humility", said Perkins. "The bank resolution framework created after the great financial crisis," said Francesco Papadia, senior fellow at Bruegel and former ECB director general for market operations, "is proving difficult to implement." Reuters Graphics4/ UNITED WE STANDAfter CS's rescue, the Fed and other big central banks supported market liquidity with dollar swap lines. Amundi's Pradhan said the "case by case" central bank responses to individual lenders failing in March exposed the lack of a coordinated bank resolution system.

☆ Florida Governor Desantis signs 6-week abortion ban law
▼ + stars: | 2023-04-14 | by ( ) www.reuters.com time to read: +4 min

"We are proud to support life and family in the state of Florida," DeSantis said in a statement. A Reuters/Ipsos poll completed on Wednesday found that about 50% of Americans strongly or somewhat oppose a national six-week abortion ban, including 44% of Republicans. The fate of the ban will depend on the outcome of a court challenge to the state's 15-week abortion ban, which abortion providers have argued violates the state constitutional right to privacy. If the Florida Supreme Court rules that the 15-week ban is constitutional, the six-week ban would take effect 30 days later. Patients from across the U.S. Southeast have been traveling to Florida to end their pregnancies since the U.S. Supreme Court gutted federal abortion rights.

☆ Florida lawmakers approve 6-week abortion ban, sending bill to DeSantis for signature
▼ + stars: | 2023-04-13 | by ( Gabriella Borter | Thomson Reuters | Gabriella Borter Is A Reporter On The U.S. National Affairs Team | ) www.reuters.com time to read: +3 min

April 13 (Reuters) - Florida's Republican-led House of Representatives on Thursday gave final approval to a six-week abortion ban, setting the stage for abortion access to be drastically curtailed in the state and across the U.S. South. Lawmakers in the Florida House approved the ban on abortions after six weeks of pregnancy in a 70-40 vote. A Reuters/Ipsos poll completed on Wednesday found that about 50% of Americans strongly or somewhat oppose a national six-week abortion ban, including 44% of Republicans. The fate of the ban will depend on the outcome of a court challenge to the state's 15-week abortion ban, which abortion providers have argued violates the state constitutional right to privacy. If the Florida Supreme Court rules that the 15-week ban is constitutional, the six-week ban would take effect 30 days later.

☆ U.S. House to vote on bill to address potential Huawei, ZTE threats
▼ + stars: | 2023-04-11 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

WASHINGTON, April 11 (Reuters) - The House of Representatives is set to vote next week on a bill to crack down on Chinese telecommunications companies Huawei and ZTE Corp (000063.SZ) that have been deemed security threats by the U.S. government. The legislation would also require publicly traded companies to disclose whether they have contracted to use Huawei or ZTE or services covered under the bill. The Federal Communications Commission in November banned approvals of new telecommunications equipment from Huawei and ZTE, saying they pose "an unacceptable risk" to U.S. national security. Washington has for years pressured U.S. allies not to use Huawei or ZTE equipment from 5G networks or remove gear from existing networks. The FCC designated Huawei and ZTE as threats, requiring U.S. companies to remove their gear or be frozen out of an $8.3 billion government fund to purchase new equipment.

☆ A stock trader who's returned 2,700% in the last 3 years shares the 3 indicators he uses as his guides to buy and sell
▼ + stars: | 2023-04-08 | by ( Laila Maidan | ) www.businessinsider.com time to read: +9 min

He notes the price points on limit orders from the level 2 data table. But all of the education couldn't have prepared him for the stress of being a stock trader who couldn't afford to lose on his bets. It shows limit orders that have been placed at certain price points. Price points with large order sizes on the "bids" could indicate that there is potential support in that area. Since other traders also review this table, it could become a self-fulfilling prophecy by which many traders act on these price points.

☆ Rob Arnott pioneered a stock investing technique that exploded into a trillion-dollar industry. He presents a new approach to help everyday investors beat the market, even in crises.
▼ + stars: | 2023-04-06 | by ( Marley Jay | ) www.businessinsider.com time to read: +5 min

Rob Arnott of Research Affiliates pioneered "smart beta" investing, which has gone global. Arnott and his firm say they've created a better way to index stocks than market cap weighting. Indexes have become the stock market's North Star, as passive investing turned into a global investment trend over the last decade. Meanwhile, Research Affiliates itself has grown to advise on $141 billion in wealth by the end of 2022. Arnott and his team at Research Affiliates suggest looking at the economic footprint of companies instead of their market capitalization.

☆ Morning Bid: Alibaba fires up market mood
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +2 min

An unprecedented revamp of Chinese tech conglomerate Alibaba Group, which analysts believe to have the blessings of local regulators, pushed up Alibaba's U.S.-listed stock, and then its Hong Kong shares on Wednesday. Companies in China's internet, private education and property sectors have lost billions of dollars in market value in recent years as the country's regulators cracked down on their operations. Reuters GraphicsAlthough a lacklustre 0.6% rise in Asia's main stock market gauge, led by Hong Kong tech names, shows that animal spirits haven't returned yet, there's hope for investors who have been left licking their wounds from recent market declines, especially in bank and tech stocks. Global investor confidence remains fragile, with the European Central Bank (ECB) saying that recent volatility highlights the need for greater regulatory scrutiny. Overnight, a survey showed that U.S. consumer confidence unexpectedly increased in March despite recent financial market turmoil, but Americans still expect inflation to remain elevated over the next year.

☆ Analysis: Investors seek value in clobbered U.S. regional bank shares
▼ + stars: | 2023-03-28 | by ( David Randall | ) www.reuters.com time to read: +4 min

The ETF has slumped nearly 26% since March 8, when SVB's troubles became known, while the S&P Regional Banks Select Industry Index (.SPSIRBK) is down around 23%. Concerns over deposit flight are still swirling around some regional banks. He owns shares of large regional banks including Citizens Financial Group Inc (CFG.N), which have fallen about 22% so far this year, and US Bancorp (USB.N), which are down some 18%. Margie Patel, a senior portfolio manager at Allspring Global Investments, has been adding new positions in regional banks over the last few weeks, citing "value." Regional banks "need positive news that shows their deposits are holding firm or growing," said Rick Meckler, a partner at family office Cherry Lane Investments.

☆ How this 26-year-old went from running bitcoin trading desks in Taco Bells to creating the largest crypto exchange in Africa
▼ + stars: | 2023-03-25 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +28 min

Yellow Card CEO Chris Maurice just before meeting with the Securities and Exchange Commission in Accra, Ghana. Chris MauriceFrom there, Yellow Card users can send or receive digital cash in eligible markets. Zoom In Icon Arrows pointing outwards Yellow Card CEO Chris Maurice in Accra, Ghana loading cash onto his Mobile Money account, MoMo. Yellow Card has facilitated $1.75 billion in transactions since launching in 2019 and has about 220 employees – mostly in Africa. A resident checks his phone outside a mobile money kiosk in the Kibera district of Nairobi, Kenya, on Monday, Aug. 1, 2022.

☆ China travel rebound bets turn toward airports, away from airlines
▼ + stars: | 2023-03-23 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

"We are optimistic on a rebound in regional and international travel and continue to get exposure through airports and airplane leasing." Shares of Air China, China Eastern and China Southern have gained between 7% to 17% in the past four months, with Air China and China Southern trading above their 5-year average forward earnings, according to Refinitiv data. Airports under perform AirlinesIn the battle for Chinese travelers, local airlines are expected to fare better than regional airlines such as Qantas (QAN.AX), Singapore Airlines (SIAL.SI) and Cathay Pacific (0293.HK), mainly because Chinese airlines kept more widebody planes and staff ready. All three Chinese airlines are expected to swing to profit in 2023 after reporting big losses last year, according to Refinitiv data. Analysts expect Chinese airlines will see profits peak next year as international traffic makes a fuller rebound.

☆ Google Bard is already behind in the AI wars with OpenAI and Microsoft
▼ + stars: | 2023-03-23 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

Google Bard, the search firm's answer to ChatGPT, has underwhelmed early testers. Users in the US and UK trying out the AI chatbot find it pales in comparison to OpenAI's tech. The makers of the Twofer Goofer word puzzle found ChatGPT was much better at solving the brainteasers than Google's Bard. It's possible that the company does have a super impressive AI tool up its sleeve. Insider's Hugh Langley reported earlier in March that Google employees are testing a more intelligent version of Bard, nicknamed "Big Bard."

His court filing also sought to disqualify the Fulton County District Attorney's Office, which has been conducting the criminal probe, from being involved in the case. The Atlanta grand jury earlier this year finished hearing testimony and reviewing evidence submitted by prosecutors. The panel then recommended the filing of criminal charges against a number of people, who have not been publicly identified. The grand jury focused particularly on a Jan. 2, 2021, phone call, during which Trump asked Georgia Secretary of State Brad Raffensperger to "find 11,780 votes" for Trump. Trump's 483-page court filing argues that the grand jury "was conducted under an unconstitutional statute, through an illegal and unconstitutional process."

☆ Asian markets tumble as SVB fears rattle banking sector
▼ + stars: | 2023-03-14 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Investors are now on edge over whether the demise of SVB could spark a broader banking sector meltdown. On Monday, US stocks were mixed, with banking shares taking a hit. In Hong Kong, shares in Bank of China (Hong Kong) and Hang Seng Bank fell 3.7% and 1.3% respectively. Sumitomo Mitsui Financial Group and Mizuho Financial Group both dropped more than 7%. In Seoul, KB Financial Group and Shinhan Financial Group fell 3.6% and 2.5% respectively.

☆ BlackRock says the Federal Reserve could hike interest rates to a peak of 6%
▼ + stars: | 2023-03-08 | by ( Jihye Lee | ) www.cnbc.com time to read: +1 min

Rick Rieder, managing director and chief investment officer of fundamental fixed income for BlackRock Inc., speaks during the Institute of International Finance Annual Membership Meeting in Washington, D.C., U.S., on Friday, Oct. 11, 2013. The world's largest asset manager sees the U.S. federal funds rate peaking at 6% after Fed Chair Jerome Powell warned interest rates are likely to head higher than the central bank previously expected. "We think there's a reasonable chance that the Fed will have to bring the Fed Funds rate to 6%, and then keep it there for an extended period to slow the economy and get inflation down to near 2%," BlackRock's chief investment officer of global fixed income Rick Rieder wrote in response to Powell's testimony before the Senate Banking Committee on Tuesday. The economy is more resilient than expected, Rieder said, pointing to the most recent jobs report and consumer price index reading. "This is partly due to the fact that today's economy is no longer as interest-rate sensitive as that of past decades, and its resilience, while a virtue, does complicate matters for the Fed," he wrote in the note.

☆ America’s credit rating could get downgraded even if a default is avoided, Fitch Ratings warns
▼ + stars: | 2023-03-06 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

New York CNN —Every few years, Washington plays a dangerous game of chicken over whether to raise the debt ceiling or default on US debt. Even if a default is avoided this time, the frequent nature of these political showdowns could cause America’s credit rating to get downgraded, Fitch Ratings told CNN on Monday. Those already look messy and were at the heart of the unprecedented credit ratings downgrade by S&P Global Ratings in 2011. Goldman Sachs told CNN in late January that a full-blown debt ceiling crisis could spark a recession. That’s why Fitch does not have the United States on watch for a downgrade, at least not yet.

☆ This fund is trouncing the S&P 500 by focusing on international stocks
▼ + stars: | 2023-03-05 | by ( Alex Harring | ) www.cnbc.com time to read: +8 min

A fund once led by an investing great known for finding opportunities in distressed assets is beating the market — but with a somewhat different focus. The Third Avenue Value Fund (TVFVX) outperformed the S & P 500 in 2022, rising 11.2% while the broad-market index shed 19.4%. 'Go where the opportunities are' Fine said that can happen by looking at both country and industry trends. The fund had just over 40% and 30% of its holdings in small- and mid-cap companies, respectively, at the end of 2022. portfolio manager Matt Fine Fine was able to work under Whitman and eventually take over the value fund, which is one of the first the company created, in 2017, a year before Whitman died.

☆ Goldman Sachs: Here are 12 stocks that 'smart money' hedge funds are moving to as a micro-driven economy sets them up to outperform the broad market
▼ + stars: | 2023-02-25 | by ( Laila Maidan | ) www.businessinsider.com time to read: +2 min

Goldman Sachs says hedge funds are pivoting from cyclical value back to growth. Hedge funds did slightly better as they white-knuckled their way through, closing the year down by 4%, according to Goldman Sachs' Hedge Fund Trend Monitor, which analyzes 758 funds. The average hedge fund is trailing closely behind, up 3%, according to a February 21 note from Goldman Sachs. As of February 21, Goldman Sachs' Hedge Fund VIP list (GSTHHVIP), which compiles the top long positions of fundamentally driven hedge funds, was up by 10% this year. The typical hedge fund holds 70% of its long portfolio in its top 10 positions, according to the note.

☆ Buy these 7 value stocks to help your portfolio thrive during 'economic purgatory,' according to the manager of a $17 billion fund
▼ + stars: | 2023-02-25 | by ( James Faris | ) www.businessinsider.com time to read: +3 min

Detailed below are seven top stocks to buy now, according to the $17.5 billion value fund manager. The silver lining is that most Wall Street firms think the economy will experience a soft landing, which would be characterized by a mild downturn. This means buying value stocks that will both succeed amid a soft landing, as well as those poised to benefit from the more extreme event of a full-blown recession. Overall, he sees the group as attractively valued, especially in a soft landing scenario. Below are seven of Linehan's favorite value stocks to own in this environment along with the ticker, market capitalization, sector, and thesis for each.

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