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So far, results from the big Wall Street banks have been mixed, with JPMorgan and Citigroup beating but Morgan Stanley falling short of forecasts. He told CNBC on Friday that Thursday's wild reversal wasn't just a bear market rally and could be the start of a new upswing. "We are, in my opinion, coming to the end of this bear market," Scaramucci told CNBC on Friday. Is the stock market poised for a sustainable uptrend or still teasing with bear market rallies? But the stock market isn't out of the woods yet as there could be more pain in the short-term.
John Haar, a managing director at digital asset services platform Swan Bitcoin, previously had a 12-year stint at Goldman Sachs. He says bitcoin is the biggest contender to gain traction in legacy finance and pull institutional interest in further. Investors saw the first wave of institutional interest in crypto through bitcoin as well. First, the value prop of bitcoin, Haar says, is the concept of "sound money," a currency that isn't prone to a sudden depreciation or appreciation in value. "I think Bitcoin is an easier sell, but I think we're still very early in terms of them potentially getting on board.
Thursday's wild stock reversal wasn't a bear market rally and could be the start of a new upswing, Anthony Scaramucci told CNBC. I think there was full-blown capitulation on the short side yesterday and lots of institutional buying." "We are, in my opinion, coming to the end of this bear market," Scaramucci told CNBC on Friday. "This could've been a bear market rally, but I don't think so. Scaramucci also pointed to other encouraging market signals, including the TIPS 10-year breakeven rate that's now around 2.20%.
CNN —Harvard University’s endowment lost $2.3 billion in fiscal 2022, blaming the loss on both the global market downturn as well as the university’s commitment to climate goals. This is the fund’s first negative return since 2016, according to the University’s Annual Financial Report, published on Thursday. During Harvard’s most recent fiscal year, which ended on June 30, HMC lost 1.8% on its investments, bringing the endowment’s total value down to $50.9 billion. The loss follows a banner year for fund, the largest academic endowment in the world. Its value increased by more than $10 billion to $53.2 billion fiscal year 2021 - the largest in the endowment’s history.
Stanford University apologized Wednesday for limiting Jewish student admissions during the 1950s — a practice that the school long denied had taken place. Stanford had targeted specific high schools known to have significant populations of Jewish students, allowing the school to still "claim that the university did not impose a quota on Jewish students," the report said. It said that despite "decades of denials," a 1953 memo, dubbed the "Glover Memo," clearly reported Snyder's "intentions to act against Jewish students." "However, the report articulates how this effort to suppress Jewish enrollments had long-lasting effects and dissuaded some Jewish students from applying to Stanford in later years. “This is what we want for all members of the Stanford community,” she said, according to the outlet.
Bitcoin on Tuesday floated at the $19,000 level, where it has remained for about a month with some momentary breaks. The largest cryptocurrency by market cap, whose volatility has been uncharacteristically low in recent weeks, was last lower by 0.7% at $19,074.31, according to Coin Metrics. Crypto prices remain depressed, with bitcoin off its all-time high from nearly a year ago by more than 70%. Though recent bitcoin volatility is low compared with stocks, the correlation between the two is still high. Prices held steady even after two big announcements signaling that institutional acceptance and adoption of crypto continues to build in spite of the bear market.
The BoE said it would temporarily buy long-dated bonds - linked most closely to workers' pensions and home loans - in light of a surge in 30-year UK bond yields above 5%, their highest since 2002. The pound briefly fell by as much as 1% after the BoE's announcement, while UK stocks cut losses, which in turn helped the broader European equity market avoid deeper falls. "The surge in bond yields threatens the housing market and broader economy. The IMF and the U.S. Treasury waded in yesterday in fear of global contagion from gilts to other markets," he said. European government bonds got a lift from the surge in the value of UK gilts.
A general view of the Bank of England (BoE) building, the BoE confirmed to raise interest rates to 1.75%, in London, Britain, August 4, 2022. The BoE said it would temporarily buy long-dated bonds - linked most closely to workers' pensions and home loans - in light of a surge in 30-year bond yields above 5%, their highest since 2002. "The surge in bond yields threatens the housing market and broader economy. The MSCI All-World index was last down 0.5%, having pulled off a session trough that marked its lowest since November 2020. "The Bank of England is restoring some calm to the markets.
Here are some of the main potential sources of tension between Giorgia Meloni's Brothers of Italy (FdI), Matteo Salvini's League and Silvio Berlusconi's Forza Italia. The League leader has urged caution over sanctions while Berlusconi sparked outrage on Friday when he said Putin had invaded Ukraine to install a government of "decent people." Forza Italia, by contrast, has called for it to be increased, with a close Berlusconi aide saying it should be "doubled" for the poorest recipients. PERSONAL RIVALRIESRelations between Meloni and Salvini have often been strained as the fortunes of their parties have swung. If Salvini survives as party leader, he will have to find a way to counter Meloni's growing popularity, which is likely to cause friction.
Chief DeFi Officer at S&P Global, Chuck Mounts, spoke at the Messari Mainnet conference on Thursday. Mounts says institutional capital will flood into crypto once there's more regulatory clarity. In recent years, Wall Street giants have made progress in offering crypto and its related products to their clients. S&P Global Ratings has followed in line with the other financial giants, who've signaled interest in crypto. In terms of policy, Mount says, these include both clear and educated regulation and legislation in crypto.
A survey conducted by the Alternative Investment Management Association (AIMA), showed that about one-third of traditional hedge funds are investing in digital assets. Approximately one-third of the panel discussions revolved around digital assets, according to SkyBridge Capital's Anthony Scaramucci. And while some funds may still be grappling with the question of how much exposure they should allocate to digital assets, Scaramucci is pedaling forward. Long term, he believes in the appreciation of digital assets, and he's willing to pay the price of absorbing the volatility in the meantime. The pivot to digital assetsSkyBridge has pivoted heavily into crypto and blockchain technology from its traditional hedge fund of funds business.
India, Saudi Arabia discuss rupee-riyal trade
  + stars: | 2022-09-19 | by ( Idrees Ali | ) www.reuters.com   time to read: 1 min
Register now for FREE unlimited access to Reuters.com RegisterSaudi Arabia's Crown Prince Mohammed bin Salman speaks at a meeting with Indian Prime Minister Narendra Modi as he looks on, at Hyderabad House in New Delhi, India, February 20, 2019. REUTERS/Adnan AbidiNEW DELHI, Sept 19 (Reuters) - The Indian government said on Monday that it had discussed the feasibility of institutionalising rupee-riyal trade with its South Arabian counterpart. Both governments reaffirmed cooperation in joint projects including a refinery in western India, LNG infrastructure investment and development of strategic petroleum storage facilities in India, the statement added. Register now for FREE unlimited access to Reuters.com RegisterReporting by Tanvi Mehta; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.
But with bitcoin coming off a nearly two-year low, the short-term temperaments are being met with a mix of positive and negative factors that are guiding where the crypto community goes from here. Proposals for more SEC oversight of the crypto community are likely to be met with hostility from the community itself, although the agency has already taken steps to enforce its regulatory agenda. "A year from now, the large trading venues will be in the process of registering with the SEC," Hougan said. Beyond the crypto community, rates of adoption from large investment firms demonstrate that digital currencies are being embraced by Wall Street, Hougan said. "Blackrock and Schwab coming in reinforces to everyday investor that bitcoin is not going away," Hougan said.
(CNN) The death toll from Covid-19 is "both a profound tragedy and a massive global failure at multiple levels," the Lancet Covid-19 Commission said in a report Wednesday. "Too many governments have failed to adhere to basic norms of institutional rationality and transparency, too many people -- often influenced by misinformation -- have disrespected and protested against basic public health precautions, and the world's major powers have failed to collaborate to control the pandemic," the commissioners wrote. The World Health Organization says there have been more than 6.4 million Covid-19 deaths reported as of Sunday, but some experts say the actual toll most likely dwarfs the reported number. The Lancet Commission report is addressed to UN member states, UN agencies and others, including the G20 and G7. The commission specified that it is not "an investigative group, nor a body of biomedical specialists," but it focused on science-based policy, global cooperation and international finance in order to propose "guideposts for strengthening the multilateral system to address global emergencies and to achieve sustainable development."
Corporate owners of single-family homes face mounting criticism as their presence grows. Organizers from the Center for Public Democracy stood atop the stage at the Park Hyatt hotel in Washington, DC, where they interrupted a conference for owners of single-family rental homes. Institutional owners of single-family homes have typically preferred to operate quietly. In the decade-plus since the financial crisis, institutional investors have poured billions of dollars into acquiring and developing single-family homes for rent. It's for that reason that Howard is concerned about homeowners associations barring investors from buying homes in certain neighborhoods.
Unlike other types of institutional investors, venture capitalists love to share business know-how. Some have developed their own media ecosystems where they can educate, entertain, and be pundits. One big way venture capitalists are unique from other institutional investors is that so many of them are not shy about publicly sharing their views on everything from crypto to politics. Unlike more buttoned-up mutual-fund or private-equity managers, many venture capitalists have become quasi celebrities — with massive followings on Twitter, LinkedIn, podcasts, and Clubhouse. Insider has rounded up this list of the most influential venture- and angel-investor personalities who analyze, educate, and entertain.
Pros Check mark icon A check mark. Can exchange more than 100 crypto assets Check mark icon A check mark. Variety of educational resources and tutorials on cryptocurrencies Check mark icon A check mark. Buy, sell, or store more than 170 cryptocurrencies like bitcoin and dogecoin Check mark icon A check mark. While the standard Coinbase account includes crypto trading, Coinbase Earn, Coinbase Card, wallet services (Kraken doesn't offer a wallet), and more, Coinbase Pro caters to more advanced traders.
Duties and Responsibilities Summary of Key Functions: Develops programme strategies in the thematic area of Effective Governance and its sub-areas. Ensures effective management and implementation of Effective Governance country programme portfolio and management of the Effective Governance Cluster team. CO business processes mapping and establishment of internal Standard Operating Procedures in Results Management, control of the workflows in the Effective Governance Cluster. Ensures effective management and implementation of Effective Governance country programme portfolio and management of the Effective Governance Cluster team, focusing on the following results: Design and formulation of country programme within thematic areas of responsibility, translating UNDP corporate priorities into local interventions. Constant monitoring and analysis of the country programme environment, timely re-adjustment of programme.
Organizations: Senior Management, UNDP, UN, Sustainable, Office, Government, UNPFSD, Management, Organization, Atlas, Financial, UNDP Country Office, Global, Administration, Economics, Law, Political Sciences, Social Sciences Locations: South, UNPFSD, Moldova, Republic of Moldova
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