ASIC and AFSA commit to updated memorandum of understanding LeapRate

November 17, 2023 BY Elizabeth Anderson

ASIC and AFSA commit to updated memorandum of understanding

The last update occurred in 2014. Essentially, the document states that the two agencies will continue to cooperate in pursuit of their goal to holistically serve the Australian government and protect and promote confidence in the country’s financial system. Setting out a framework for continued cooperation, the refreshed MoU strives to facilitate liaison, assistance, and…

November 17, 2023 BY Elizabeth Anderson

Goldman Sachs 2024 US equity outlook hits the wires

Surprisingly, gross domestic product growth (GDP) has been much stronger than expected. This did not, however, prevent labour market rebalances or a continued drop in inflation. Research experts at Goldman Sachs predict a 2.1% year-on-year GDP growth in 2024. Additionally, the company’s economists foresee a 2% consumption growth and a real disposable income increase of…

November 16, 2023 BY Elizabeth Anderson

Should the SEC give the go-ahead for FTX sell-off?

According to Forbes, FTX is currently perched atop an approximate total of $3.3bn Solana, Bitcoin, and other cryptocurrencies. The company was granted judicial approval to begin liquidating its recovered crypto, which was lost when its former CEO and founder, Sam Bankman-fried, committed wire fraud, of which he was found guilty. John Reed Stark, former chief…

November 16, 2023 BY Elizabeth Anderson

Hedge funds bridging the bond-buying liquidity gap in Europe

Recently, fixed-income markets focused on who will buy government bonds as the supply increased to address debts that piled up during the pandemic and the energy dilemma following the Ukraine war. Globally, central banks have been increasing interest rates to tackle inflation. At the same time, these leading financial institutions withdrew from bond-buying programmes, directly…

November 16, 2023 BY Elizabeth Anderson

Citi leverages blockchain technology for FX trades

This means the application can be applied to any fiat currency pair. Reportedly, this on-chain solution offers real-time quotes and record trades on a blockchain, supporting fixed and cryptographically secured stores of relevant data. Only counterparties can access the details for quotes and trades, as per the compliance surrounding regulatory requirements. According to reports, Citi’s…

November 15, 2023 BY Elizabeth Anderson

UK inflation falls to 4.6% after 45-year high in March 2023

Bestinvest’s finance analyst, Alice Haine, noted: Softening inflation is positive news for households as it means incomes might be less stretched than they have been, but a decline in the headline rate does not mean prices are reducing, just that they are rising less quickly compared to previous months. The figures were reduced after the…

November 15, 2023 BY Elizabeth Anderson

Natura enters into agreement with Aurelius Group to sell the Body Shop

Reportedly, this is yet another attempt to keep the battling beauty retailer afloat. In April, Natura sold Aesop, another one of its subsidiaries, to L’Oreal (OR.PA) for just over $2.5bn. In its press release, the company stated: With the transaction, Natura &Co will strengthen and deleverage its balance sheet, freeing up resources to focus on…

November 15, 2023 BY Elizabeth Anderson

BlackRock seeking SEC approval for spot Ethereum ETF

This move by the market-leading asset manager not only infused more confidence in crypto markets but also triggered discussions at the SEC level with the aim to diluting regulatory opposition to virtual currencies. As with the Bitcoin price in June when BlackRock applied for that spot ETF, the Ethereum (ETH-USD) price spiked to its highest…

November 14, 2023 BY Elizabeth Anderson

Financial markets looking sheepish ahead of US data

The US Dollar Index, a measure of the USD's performance against a basket of major currencies, showed marginal losses on Monday, and the 10-year US Treasury bond yield closed nearly unchanged, hovering just above 4.6%. In the Eurozone, the EUR/USD currency pair maintained stability around 1.0700, having recorded slight gains on the preceding day. Forecasts…

November 14, 2023 BY Elizabeth Anderson

IC Markets Announce IC Shares

Through the partnership with FinClear, IC Shares has been established to provide a secure, user-friendly, and cost-effective means of accessing mid-cap and blue-chip companies in the Australian share market. Clients can easily invest in Aussie shares using their own HIN with a competitive brokerage fee, one of the lowest on the market, making the investment…