Credit Suisse Shuts Japan Equity Trading for Hedge Funds
Credit Suisse is shutting its cash equity sales business in Japan, and has told hedge funds and other institutional clients it would no longer be taking orders as UBS Group AG proceeds with a global overhaul. #press
Asset Managers Boost Aussie Shorts to Record as Currency Sinks
Asset managers are growing even more bearish on Australia’s dollar, boosting short positions to a record even as the currency slipped to a nine-month low. #press
Westpac Bank Sees Modest Increase in Stress Amid Inflation Rise
Westpac Banking Corp. said it’s seeing a modest increase in customer stress, while inflationary pressures are causing expenses to rise at the Australian lender. #press
Bond Traders Bet Next Ecuador President Can Stave Off Default
As Ecuadorians prepare to vote for a president Sunday amid its most violent election cycle in memory, investors are betting an unexpected rally in the country’s battered bonds isn’t finished. #press
Stock Rally Detractors Find It Hard to Resist the Allure of Bond Math
Volatility in the world’s biggest bond market has finally caught the attention of investors on Wall Street who’ve been plunging into stocks all year. #press
Bitcoin Nosedive Jolts Crypto Market Out of Its Summer Stupor
Bitcoin has had a sleepy summer. This week, it was shaken awake. #press
‘The Voice of China’ Producer Falls by Record After Viral Video
The producer of the “The Voice of China” saw its stock tumble by the most on record after a viral video of allegations that a deceased pop star was unfairly treated during her time on the popular televised singing show. #press
Intesa to Consider Small Deals to Boost its Presence Abroad
Intesa Sanpaolo SpA, Italy’s biggest lender, may consider smaller-scale acquisitions in European regions where it operates and in key Mediterranean rim countries to strengthen some of its core activities. #press
China’s Hidden Financial Dangers Erupt With Shadow Bank Crisis
Only a week ago, Zhongzhi Enterprise Group Co. attracted little notice within China and was almost unheard of everywhere else. #press
Bloomberg Markets: China Open 08/18/2023
"Bloomberg Markets: China Open" is the definitive guide to the markets in Hong Kong and on the mainland. David Ingles and Yvonne Man bring you the latest news and analysis to get you ready for the trading day. And powered by more than 27-hundred journalists and analysts in more than 120 countries, we get you the global stories that... #press
China’s State Developers Warn of Major Losses as Crisis Spreads
China’s state-owned property developers are warning of widespread losses, fueling concerns that the housing crisis is expanding from the private sector to companies with government backing. #press
Yuan Traders on Watch for Strongest Ever Fix Guidance From China
China is close to unleashing its strongest ever guidance to push back yuan bears via its daily reference rate, as the managed currency defies a string of policy signals in a fall toward a 16-year low. #press
Presidential Front-Runner Would Unshackle Argentine Farming, Oil
The shock front-runner in Argentina’s presidential election, libertarian Javier Milei, would strip out state intervention from the country’s giant farming industry to unleash an export boom. #press
Cetera Finance Group's Goldman on US Markets
Gene Goldman, chief investment officer of Cetera Financed Group, discusses his outlook and investment strategies on the US markets. He speaks with Bloomberg's Kathleen Hays and Paul Allen on "Bloomberg Daybreak: Australia." (Source: Bloomberg) #press
China Shadow Bank Zhongrong Misses Payments, Sparking Protests
Zhongrong International Trust Co., one of China’s biggest shadow banks. missed payments on dozens of products, as the fallout from a deepening property slump spreads to the financial sector. About two dozen people protested outside the firm’s office, in a rare show of public outrage after... #press
Luxury London Home Sellers Cut Asking Prices to Keep Deals Alive
Britain’s intensifying mortgage crunch is now forcing London’s wealthiest home sellers to agree to discounts or risk deals falling through. #press
China’s Open for Travel But Few Tourists Are Coming, or Going
Peak summer in China — the first in four years without harsh Covid restrictions. Tickets for attractions like the Forbidden City in Beijing are selling out in minutes. Streets are crowded and subway stations are even more packed than usual. Foreign tourists, however, are few. #press
Hawaiian Electric in Talks With Restructuring Firms: WSJ
Hawaiian Electric erases its earlier advance after a Wall Street Journal report that the company is speaking with financial restructuring firms to address the financial and legal challenges arising from the Maui wildfires, citing people familiar with the matter. Jaimin Patel has more on "Bloomberg... #press
Goldman Sachs Blames Zero-Day Options for Fueling S&P 500 Selloff
Look closely at the contours of Tuesday’s tumble in the S&P 500 and fingerprints of a new market force come into focus. #press
Ex-Bridgewater Executive to Launch Eight Hedge-Fund Style ETFs
Former Bridgewater Associates LP executive Bob Elliott is expanding his firm’s ETF lineup with a variety of hedge fund-like strategies. #press
