Monday, November 30

Day: October 9, 2020

Tactical Asset Allocation – October 2020
Investing

Tactical Asset Allocation – October 2020

Macro updateWe believe the global economy continues to improve and we expect its upward trajectory to persist for the rest of the year. Based on our macro regime framework, the global business cycle remains solidly in a recovery regime, with growth below trend and expected to improve over the next few months. The recovery is strengthening in its depth and breadth, as our leading economic indicators suggest growth is broadening across regions. While global equity and credit markets experienced declines over the past month, our measures of global risk appetite remain in an improving trend, indicative of improving growth expectations (Figure 1).Figure 1: Leading economic indicators and market sentiment suggest the global economic recovery continues across all regions.Sources: Bloomberg...
Opening Your First Trading Account? Here’s What You Need to Know
Online Trading

Opening Your First Trading Account? Here’s What You Need to Know

Opening your first trading account can seem daunting given the sheer number of options out there.Fortunately, most brokerage firms follow a straightforward process similar to the one laid out below.Getting your account open is just a matter of choosing a broker, providing some personal information, and funding your account.Once the formalities are done, you can begin using your account.What is a Trading Account?A trading account, also known as a brokerage account, is an investment account that you open with a brokerage firm in order to invest in the stock market.Examples of brokerage firms include TD Ameritrade, TradeStation, Robinhood, Interactive Brokers, and E*TRADE.Trading accounts allow people to buy and sell different types of investment securities including stocks, bon...
Blockchain may solve Twitter and Facebook’s moderation issues says Aragon exec
Crypto News

Blockchain may solve Twitter and Facebook’s moderation issues says Aragon exec

Aragon co-founder Luis Cuende told Cointelegraph that the decentralized technology his company has been developing could find its perfect use case on social media platforms like Facebook and Twitter.In recent months, content moderation practices employed by global social media platforms have been criticized by people across the political spectrum. Libertarian-leaning constituencies tend to criticize them for essentially instituting politically correct censorship while the liberals contend that they are not doing enough to filter offensive content. To this point, yesterday, the FBI charged six individuals with a plot to kidnap the governor of Michigan, Gretchen Whitmer. It has since been reported that the accused allegedly coordinated their actions via a private Facebook group.Jack Do...
RBI hit all the right chords by addressing both immediate and long-term needs
Stock News

RBI hit all the right chords by addressing both immediate and long-term needs

During difficult times, as we are witnessing at present, people often have many expectations from the government and the regulator. It is also incumbent upon the regulators and policy makers to look after the interests of all their stakeholders in such tough times. Through today’s credit policy, the RBI Governor has been able to provide something for everyone. Putting to rest the debate on growth versus inflation, the RBI has articulated its policy extremely well. Given the current situation, revival of the economy will be a priority for them. The MPC has decided to look through the current inflation hump as transient and address the more urgent need to revive growth and mitigate the impact of the pandemic on the economy. However, they are keeping an eye on inflation and expect it to com...
Trump raises coronavirus stimulus offer to $1.8 trillion, then says he wants bigger bill than Dems
Business news

Trump raises coronavirus stimulus offer to $1.8 trillion, then says he wants bigger bill than Dems

The White House will take a $1.8 trillion coronavirus stimulus offer to Democrats as the sides work to strike a deal before the 2020 election, a source told CNBC.The plan would mark an increase from the $1.6 trillion the Trump administration previously proposed. House Democrats passed a $2.2 trillion bill earlier this month, and the sides have struggled to find a consensus in between those figures.On Friday afternoon, Trump economic advisor Larry Kudlow, director of the National Economic Council, said the president had approved a "revised" package ahead of another planned discussion between Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi. In a tweet, Trump urged negotiators to "Go Big!"Trump later added more confusion to a chaotic week of discussions over aid."I ...
Financial giant SBI to run its first security token offering in October
Crypto News

Financial giant SBI to run its first security token offering in October

Japanese financial conglomerate SBI Holdings is getting more serious about the security token offerings industry.SBI is planning to run its own STO allotting shares of SBI e-Sports, the company’s new e-sports gaming arm, Cointelegraph Japan reports Oct. 9.Announcing the news on Friday, SBI said that the upcoming STO will be conducted using ibet, a blockchain platform developed by digital security startup Boostry. Scheduled for Oct. 30, the STO will be carried out by SBI’s online securities subsidiary, SBI Securities, while SBI holdings will act as an underwriter.SBI said that the company considers STOs a “core technology of fintech” and plans to tokenize a number of other assets in the future. The firm stated that it looks to tokenize assets like real estate, fine art, and intellec...
Canada: Unemployment Rate declines to 9% in September vs. 9.7% expected
Forex

Canada: Unemployment Rate declines to 9% in September vs. 9.7% expected

Unemployment Rate in Canada fell more than expected in September. USD/CAD dropped to its lowest level in three weeks near 1.3150.Net Change in Employment in Canada rose by 378,000 in September, compared to analysts' estimate of 156,600, and brought the Unemployment Rate down from 10.2% in August to 9%, Statistics Canada reported on Friday. This reading beat the market expectation of 9.7% by a wide margin.Further details of the publication revealed that the Participation rate improved to 65% from 64.6%."The number of Canadians who were employed but worked less than half their usual hours for reasons likely related to COVID-19 fell by 108,000 (-7.1%) in September," Statistics Canada noted. "Combined with the declines from May to August, this left COVID-related absences from...
F&O: Entire market base shifts higher; a flat VIX is aiding bulls
Stock News

F&O: Entire market base shifts higher; a flat VIX is aiding bulls

By Chandan TapariaNifty opened positive on Friday and continued its positive to rangebound move as it headed towards the 11,940 level. The index managed to hold the 11,800 level and closed the last day of the week with net gains of around 80 points.The index continued to form higher lows for the 10th session and entire base of the market shifted higher and looked set to hit the psychologically important 12,000 level and then knock the lifetime high territory.The index formed a bullish candle on the daily and weekly charts and saw the highest weekly close in 31 weeks since February 20, 2020. The index continued its winning streak for the seventh consecutive session and has rallied more than 1,100 points in last 11 sessions. Now, it has to hold above 11,800 level to witness a further r...
Dow futures rise 90 points as traders await for clues on new fiscal stimulus
Business news

Dow futures rise 90 points as traders await for clues on new fiscal stimulus

People walk by the New York Stock Exchange (NYSE) in lower Manhattan on October 02, 2020 in New York City.Spencer Platt | Getty ImagesU.S. stock futures rose early Friday morning as Wall Street continued to search for clarity surrounding a new potential fiscal aid bill.Dow Jones Industrial Average futures were up 92 points. S&P 500 and Nasdaq 100 futures both traded in mildly positive territory.Drew Hammill, deputy chief of staff to Nancy Pelosi, tweeted that the House Speaker and Treasury Secretary Steven Mnuchin spoke for 40 minutes earlier in the day. He noted that the conversation "focused on determining whether there is any prospect of an imminent agreement on a comprehensive bill. The Secretary made clear the President's interest in reaching such an agreement."T...
Shenzhen to hand out 10 million digital yuan in currency giveaway
Crypto News

Shenzhen to hand out 10 million digital yuan in currency giveaway

The major Chinese city of Shenzhen is launching a pilot program to promote the digital yuan with a public giveaway.In collaboration with the country's central bank, Shenzhen is planning to distribute a total of 10 million digital yuan ($1.5 million) — China’s central bank digital currency, local news agency Sina Finance reports Oct. 9.As reported, the giveaway pilot will be funded by Shenzhen's Luohu District. The giveaway money will be reportedly distributed to 50,000 recipients through a lottery. Shenzhen residents can start applying online to participate in the giveaway on Oct. 9.According to the report, each “gift” will be worth 200 renminbi and can be spent starting from Oct. 12 and Oct. 18 at any of 3,389 merchants in Shenzhen's Luohu District. According to the rules of use, ...