Genesis, Winklevoss twins’ Gemini crypto venture charged by SEC with selling unregistered securities
U.S. securities regulators on Thursday charged Genesis Global Capital and crypto exchange Gemini Trust Co. with offering and selling of unregistered securities to retail investors, bypassing disclosures and other requirements aimed at protecting market participants. Genesis and Gemini raised billions of dollars’ worth of crypto assets from hundreds of thousands of investors through unregistered offers, […]
‘Super lame,’ says Gemini co-founder Tyler Winklevoss about SEC charges
New charges against crypto platforms Genesis Global Capital and Gemini Trust Co. by the Securities and Exchange Commission are “disappointing,” said Tyler Winklevoss, co-founder of Gemini, in a Twitter thread on Thursday evening. Earlier Thursday, the SEC charged Genesis and Gemini with engaging in the offering and sale of unregistered crypto asset securities through Gemini […]
The housing market is showing signs of ‘normalizing’ and IRS says ‘Tax Day’ will be different this year — put these important tax dates on your calendar
Hi, MarketWatchers. Don’t miss these top stories.IRS says ‘Tax Day’ will be different this year — put these important tax dates on your calendar Two thirds of households received income-tax refunds last year, IRS statistics show. Read More U.S. mortgage rates slip, giving some relief to homebuyers The 30-year mortgage rate is averaging at 6.33%, […]
How the Fed is ‘collapsing’ real estate activity with higher interest rates
U.S. real estate has undergone a dramatic slowdown in transaction activity in the months since the Federal Reserve began jacking up interest rates. Sales of existing homes plunged from peak pandemic levels to about 4.1 million in November (see chart) from over 6 million units sold per year in 2021 as the Fed has dramatically […]
Why value stocks may not repeat their vast 2022 outperformance in 2023
Are so-called value stocks still living up to their name? Some aren’t so sure. After more than a decade of lackluster returns, the value factor beat the broader market and outperformed rival growth stocks in 2022 by the widest margin since 2000. Still, both broad categories suffered sizable declines during a bear market that sent […]
Gold hits fresh 8-month high on China reopening hopes
Gold futures touched a fresh 8-month high Wednesday as traders bet that China’s decision to drop COVID-19 restrictions on its economy would continue to boost prices of precious and industrial metals. Price action Gold futures for February delivery GC00, +0.23% GCG23, +0.23% rose by $5, or 0.3%, to $1,889 per ounce on Comex, according to […]
Treasury yields slip after World Bank warning adds to global growth concerns and traders eye inflation data
U.S. bond yields fell on Wednesday as concerns about global economic growth lingered and traders looked ahead to U.S. inflation data, while an auction of 10-year notes met strong demand.What’s happening The yield on the 2-year Treasury TMUBMUSD02Y, 4.224% slipped 0.8 basis point to 4.249%. Yields and debt prices move opposite each other. The yield […]
New Zealand commodity price index for December -0.1% m/m (prior -3.9%)
ANZ World Commodity Price Index data. Down 0.1% m/m in December vs. down 3.9% in November In NZD terms down 3.8% (NZD rose 2.1% against its Trade Weighted Index) — In y/y terms down 11.4% in December November was down 11.5% y/y — As part of its report ANZ look at global shipping rates, which […]
Oil ends higher on China’s reopening, but traders watch for signs of a global recession
Oil futures settled higher on Tuesday, with U.S. prices up a fourth straight session, finding support as investors continue to monitor China’s reopening and look for signs of a potential global recession. Price action West Texas Intermediate crude for February delivery CL.1, +0.56% CL00, +0.56% CLG23, +0.56% rose 49 cents, or 0.7%, to settle at […]
Morgan Stanley’s Mike Wilson warns U.S. stocks could slump another 22% if recession arrives in 2023
U.S. equities could face a sharper-than-expected selloff in 2023 from a recession shock that pushes stocks down another 22% from the current levels, according to Morgan Stanley’s Michael Wilson. The chief equity strategist, who correctly predicted the 2022 stock-market selloff, which saw all three major indexes cement their worst annual losses since 2008, suggested on […]