Welcome aboard, one and all—and mind the dip. Another wave of selling crashed into U.S. equity markets last week, with all three of the major averages suffering their fourth losing week in five. That summer comeback rally that started in mid-June is starting to smell more and more like a bear market bounce . The Dow dropped 4.1% last week, the S&P 500 fell 4.8%, and the NASDAQ was down 5.5%. Yikes! That summer fling, which started on June 16, topped out on August 15—and since then—according to our pals at YCharts, the Nasdaq is down nearly 13%, while the S&P 500 and Dow Industrials are down more than 9% each. The S&P 500 has now closed below its 200-day moving average for the longest stretch since the Great Financial Crisis . Get used to that refrain. With the three major market averages now approaching those June lows again, market technicians are warning that if those levels don't hold, stocks could be headed down at least another 5 to 10%, and maybe more. We … [Read more...] about Avoiding the Bear Trap – Live from Future Proof
Unconditional basic income
The FOMC's dot plot , which is perhaps the most boring but the most terrifying chart in economics and investing right now, is the summary of where members of the Federal Open Market Committee (FOMC) expect the federal funds rate to be over the next three years. It's an estimate, not a mandate. Still, the most recent release of the dot plot shows a significantly higher range than it did in the last several meetings. The high water mark for interest rates, according to those dots, is projected at around 4.6%, which is considered to be the Fed's terminal rate, or the end rate. That's significantly higher than where we are today, higher than where it was projected to be a few months ago, and it could move even higher if inflation remains high—especially core inflation , which excludes food and energy prices but does include shelter and electricity costs. As of last Friday morning, fed fund futures , which are derivatives based on the federal funds rate, were trading as high … [Read more...] about The Great Portfolio Reset – Live from Investor Connection
The Arrivals Hall at Chek Lap Kok Airport awaits passengers earlier this month, all of whom were required to go to quarantine hotels for three nights. On Monday, Hong Kong lifted its mandatory quarantines after more than two years. [ANTHONY SPAETH] By Anthony Spaeth There’s the old joke about the British couple flying to Hong Kong to visit their son. The son can’t meet them at the airport — “Work!” — but there’s no easier place to arrive than Hong Kong. All they have to do is take the Airport Express to Central, go to the Macau Ferry Pier, look across the road for a McDonalds, up that street, second to the left, flat 9B. From Chek Lap Kok Airport, the couple try to follow the directions but they’re a bit jet-lagged. They take the train to Central and go to the Macau Ferry Pier, but mistakenly go inside, go through immigration, board the ferry, take the 55-minute Jetfoil trip, go through immigration again, leave the terminal and look for a McDonalds that isn’t there. The father … [Read more...] about What happened to Hong Kong
This article first appeared in The Edge Malaysia Weekly, on September 5, 2022 - September 11, 2022. - A + A Twenty-eight years ago, on Merdeka Day in 1994, a new Malaysian bank was born. Allied Bank, subsequently renamed PhileoAllied Bank, began operating as a Malaysian-owned bank after taking over the single Kota Kinabalu (KK) branch of the UOB Bank in Malaysia from UOB Bank Group of Singapore. This was the culmination of a process that began about a year back. From August 1993, Phileo began by acquiring Linatex Process Rubber Bhd from Harrisons & Crosfield Plc. Subsequently renamed PhileoAllied Berhad, it went on to acquire Petra Finance and Phileo Peregrine Securities, UOB Bank (Malaysia), which had only the single branch in KK, and took over the ailing Co-operative Central Bank, which had a deficit of RM600 million. Back then, the UOB Bank Group in Singapore had three banking licences and operated three different banks in Malaysia. Besides the … [Read more...] about How Malaysia lost the world’s first digital bank and e-commerce platform
The demand for venture debt in India is on the rise, with the total amount deployed growing by 11 percent to $312 million by August 2022, as against $280 million during the same period last year, amidst a slowdown in venture capital (VC) disbursements. Volatility in the equity markets and the fact that startups are unable to find the desired valuation in the last 6-8 months are making venture debt a more viable option across late and growth stages. To be sure, venture capital disbursements till August 2022 stood at $19.9 billion, while till August 2021, the disbursements were around $21.3 billion, according to data from Venture Intelligence. Also Read: VC funding below $1 bn for the second month Close Top venture debt players in the Indian market, including Alteria Capital, Trifecta Ventures, Stride Ventures, and Innoven, among others, are expecting to close the year with almost 50-60 percent more jump in deployment from around $341 million in 2021. … [Read more...] about Rising venture debt market in India: A strategic shift or a short-term frenzy?
Share to Twitter Share to Linkedin "Ten years ago this was all nothing, just cows and poor people,” Dato Kodue recollected as we sat in the lobby of the Palm Beach Hotel. Kodue is the director of development of Anaklia, an emerging resort on the Black Sea coast of Georgia. This is a place of luxury hotels, beaches, and water parks. But, as I was told, it wasn’t always this way. Locals ride by a luxury hotel in a horse-drawn cart in a rapidly changing Anaklia. Image: Wade ... [+] Shepard. Just eight years ago the place was a war zone — there were Russian tanks in the streets, the local population was forced from their homes, thousands of people were kiled, and upwards of 300,000 refugees fled from the chaos. “My grandfather was killed. My family was moved to the capital,” Kodue, who is also a local, began. “Abkhazia separatists and Russian conquerors were living in my house.” In 2008, the War in South Ossetia spread to a region of … [Read more...] about From War Zone To Beach Resort: Anaklia Rises Along The New Silk Road