In what may appear as patently obvious to most Goldman Sachs CEO, David Solomon speaking at an event in Singapore said we are living in one of those “periods of time when greed has outpaced fear.” and the global economy is facing a ‘complicated time’. We are in times not too dissimilar to the 1980’s where the fictional Gordon Gekko ruled and the real Ivan Boesky would most likely be the norm in the moral hazard free 2021. Soloman says … Continue reading “Greed Outpacing Fear in Markets says Goldman’s Solomon”
With inflation popping up everywhere with the US Fed seeing it as transitory while others are not convinced. Commerzbank issued a note Monday raising it’s gold price target up to $2,000. Silver to $30 and Palladium to $2,800.
Chinese social-media service Weibo suspended some crypto-related accounts Sunday. Bitcoin and many other top cryptocurrencies declined on the move. $WB took similar action in 2019 when it suspended the accounts of exchange operator Binance Holdings and blockchain platform Tron.
Goldman Sachs issued a note Saturday after two CIO roundtable sessions earlier this week attended by 25 CIOs from various long-only and hedge funds. They said their most favorite long is Growth style but least favorite on Bitcoin. Suggesting institutional adoption ia a ways off.
Federal Reserve Governor Lael Brainard said on Monday “The Federal Reserve is stepping up its research and public engagement on a digital version of the U.S. dollar.” Fed Chair Jerome Powell said last week the Fed will release a paper looking at how CBDCs could affect payments.
Desperate times call for desperate measures. Hong Kong has announced handouts to its population to turn around sentiment. The country says that registration for cash handout to start in early July. The move is likely a blue print for greater China.
Chinese firm Canaan Inc., a maker of Bitcoin mining machines continues to face headwinds for it’s New York IPO. Already slashed from expectations of $400 million to $100 million it lost it’s lead underwriter Credit Suisse.
Since the US re-established economic sanctions on Iran the country has been weathering the impact sanctions. Iran has maintained oil exports to China, Syria and India. Recent military and social accomplishments have emboldened officials.
Intel may intervene in Broadcom’s attempt to takeover Qualcomm the Wall Street Journal reported Friday. Intel, the world’s number one chipmaker fears a combined Qualcomm-Broadcom, as dysfunctional as that marriage maybe according to $QCOM poses a threat to $INTC’s dominance.