Covid-19 variant increases investor bets on rate hikes

Investors piled into government bonds and quickly recalibrated their expectations for rate hikes in response to the new Covid-19 variant first identified in South Africa. The yield on the 10-year US government bond fell to 1.484% on Friday, according to Tradeweb, from 1.644% at Wednesday’s close. It marks the biggest drop in trading sessions since … Read more

Bitcoin and Ether are rising. India’s crypto ban is perhaps not that bad.

Text size A crypto chief is optimistic that India will fall short with a direct ban on private digital assets. Yuri Cortez / AFP / Getty Images The two leading digital assets rose on Thursday amid optimism that new rules for cryptocurrencies planned by the Indian government would fall short with a direct ban. Both … Read more

Jamie Dimon says he regrets the joke about JPMorgan outlasting China’s Communist Party

JPMorgan Chase & Co. CEO Jamie Dimon on Tuesday made a direct remark about the US banking giant’s ability to survive China’s Communist Party, a few days after he made a whirlwind trip to the Chinese financial center in Hong Kong due to a state travel exemption. “I was just in Hong Kong and I … Read more

Jerome Powell is facing a completely different economy in a different period

During his first term in office, Jerome Powell undoubtedly became the most dove-like president in the modern history of the Federal Reserve, prioritizing full employment in an era when inflation seemed extinct. In his second term, he may have to do the opposite: Prioritize inflation at the risk of sacrificing jobs. The focal point can … Read more

Biden will press Jerome Powell for a new term as Fed chairman

President Biden is set to nominate Federal Reserve Chairman Jerome Powell for another term as head of the central bank, the White House said on Monday, choosing continuity in U.S. economic policy despite setbacks by some Democrats who wanted someone tougher on account of bank regulations and climate change. Mr. Biden will also nominate Fed … Read more

JPMorgan’s Jamie Dimon and Tesla’s Elon Musk feud behind the scenes

Elon Musk and Jamie Dimon are not getting along. Mr. Musk has for years rejected Mr. Dimons JPMorgan Chase & Co., has approached other banks while expanding Tesla Inc. and his broader empire. Conversations over the years between the two companies have often upset one side or the other, according to people familiar with the … Read more

JP Morgan offers a “re-perceived” world for its 2022 list of books and experiences

With museums, theater and other forms of entertainment open to visitors, JP Morgan’s customer advisors had much more to consider as they offered suggestions for the bank’s annual list of recommended books and experiences. While last year’s virtual recommendations, including Quarantunes in Los Angeles, and Planet Word, in Washington, DC, undoubtedly created diversions for pandemic-limited … Read more

Citadel CEO Ken Griffin outbid a group of crypto investors for a copy of the U.S. Constitution

Chicago hedge fund billionaire Kenneth Griffin said he won a first edition of the US $ 43.2 million constitution at a Sotheby’s auction on Thursday – and now he intends to lend it to a free art museum in Arkansas. The 53-year-old founder and CEO of Citadel caused a stir on Thursday when he outbid … Read more

Bond yields, oil fall due to Covid-19 lockdown concerns

US stock futures were mixed, the dollar strengthened and oil prices fell as rising Covid-19 cases led to an acceleration of social distancing and business restrictions in Europe. Futures linked to the S&P 500 fell 0.2% after the broad market index closed up 0.3% on Thursday at a record high. Dow Jones Industrial Average futures … Read more

Copy of U.S. Constitution sells for $ 43.2 million as Crypto Group DAO is outbid

The art market was not ready for revolution. A rare first edition of the U.S. Constitution sold for $ 43.2 million on Sotheby’s Thursday, but the winner appears to be a private collector rather than an online group of cryptocurrency investors. The group, called ConstitutionDAO, caused a stir in art and crypto circles this week … Read more