China’s budget gap may widen to $900 billion, sees limited room to bail out businesses  2022/05/30 03:30:57 BLDaily The BL
Some investment banks said that China is now facing a huge budget deficit due to its Covid battle. Consequently, the fiscal policy to help bail out its struggling businesses may be limited. According to Today Nation News, Nomura Holdings has recently estimated that mainland China’s funding gap could hit up to 6 trillion yuan (nearly […]
   Japanese Financial Firm Nomura Invests in Blockchain Climate Startup Allinfra – crypto.news  2022/05/28 04:30:13 Bitcoin Ethereum News
The post Japanese Financial Firm Nomura Invests in Blockchain Climate Startup Allinfra – crypto.news appeared on BitcoinEthereumNews.com . Nomura, a Japan-based financial holding company participated in a $6 million Series A funding round of Allinfra, a Hong-Kong blockchain startup geared toward battling climate change. Allinfra Raises $6 Million…
   Nomura Warns Market "Risks Disappointment" If It Expects A ''Fed Pause''  2022/05/25 15:45:00 Zero Hedge
Nomura Warns Market "Risks Disappointment" If It Expects A ''Fed Pause'' Another missed economic data point this morning (durable goods) just added to the misery of the US Macro Surprise Index which has plunged red to its weakest since Oct 2021… Source: Bloomberg And as Nomura''s Charlie McElligott notes, this accelerating "miss" is coinciding with a market which was already obsessing on “hard-landing” recession risk due to the shock FCI-tightening of the Fed’s still relatively nascent policy pivot. Look at the directional turn in categorized sectors of the economy since May 1 to today, particularly “Housing” and “Surveys” while also seeing a sign of a turn in “Labor”... Of the last 19 major US economic data releases tracked as inputs to Bloomberg’s US Economic Surprise Index dating back to May 13th, 13 have “missed” to the downside versus expectations... And it is this broad-based US weakening which is adding to the concern that added velocity to the “Recession / Contraction” fears this week, while Nomura''s Economic Quadrant work risks a further “impulse” lower towards “Contraction” after this recent string of downside surprises ...
   Tech stocks plummet as Nomura and JP Morgan raise growth concerns  2022/05/25 13:00:00 Business Standard
BSE IT index drops 3.2%; Midcaps see deeper cuts
   Tesla Stock Will Weather the Continuing Onslaught  2022/05/25 11:49:27 InvestorPlace
Tesla ( TSLA ) stock can recover but first understand why it has fallen. The company’s latest earnings report showed lots of strength. The case for relative value has merit even as Tesla stock has been historically overvalued. Source: Zigres / Shutterstock.com Bears and contrarians are quick to note that Tesla (NASDAQ: TSLA ) stock is off by 45% year-to-date. Their motives differ of course. Bears would like investors to believe that share prices will continue to move toward the low analyst target price of $250. Meanwhile, contrarians would tell investors the upside — 58% — between Tesla’s current price and the consensus target price make it too good to ignore. Who should investors follow? The contrarians. In other words, the bulls. TSLA Tesla $623.90 How Did We Get Here? The answer to why Tesla — and most other tech firms — have fallen so precipitously in 2022 is due to the Federal Reserve’s policy shift. The 7 Highest-Yielding Dividend Stocks to Buy Now for Income Tech companies including Tesla are valued based on the current discounted value of their future profits.
   Nomura: "Shock Tightening" In Financial Conditions Is Allowing "Macro Truths" To Override Technicals  2022/04/06 13:55:00 Zero Hedge
Nomura: "Shock Tightening" In Financial Conditions Is Allowing "Macro Truths" To Override Technicals The recent rally in stocks is, macro-wise, incoherent with what has been happening in financial conditions. Specifically, the 1w change in TIPS 2s10s curve was just the largest impulse flattening since the US debt downgrade in Aug ’11 and Dec ’08, while the cumulative 3 wk move in 5Y TIPS yields is the largest since Aug ‘16… ...along with tighter FCI and higher Rate Vol...all while Equities iVol has collapsed... But, as Nomura''s Charlie McElligott points out in a note this morning, this sudden "shock tightening" in Financial Conditions - as Real Yields are exploding higher (5Y TIPS Yields from -1.66 to current -0.59bps over the past 3 weeks!) - is allowing "macro truths" to finally override recent "bullish" mechanical flows in Equities. Additionally, Brainard''s much more aggressive QT language is behind another large buyside grab in Credit downside ( huge HYG Put Spread buying here and away, and Dealers nearing “Max Short Gamma vs Spot” territory (spot ref 127 vs 125/126 “max short” point…hence the sloppy trading ).
   Indian eco ahead of MPC meet outcome  2022/04/06 11:03:38 Economic Times India
After a respite from the disruptions caused due to the Covid-19 pandemic, the global economy is currently stuck in ambiguity owing to certain geopolitical developments over the last few weeks. The Indian economy too is fazed by uncertainties. The RBI Governor Shaktikanta Das has a difficult task at hand to control inflation in a situation where commodity prices are spiked with volatility and patchy economic recovery.We take a look at a few economic indicators to track the performance of the Indian economy as of March 2022. Overall, the indicators show a mixed trend wherein some activities like PMI services, power generation showed some amount of improvement while PMI manufacturing, exports, and toll collections showed contraction.Overall eco growth90685616After Covid recovery analysts were upbeat on prospects for the Indian economy but following the Russia-Ukraine war, economists have issued downgrades for India, a country that is highly dependent on oil imports.Recently, ICRA revised its forecast for India’s real GDP growth in FY2023 to 7.2% from 8.0% forecast earlier. “Protracted geopolitical tensions and high commodity prices pose downside risks to the growth outlook, with margin compression set to squeeze value added growth during the period of the conflict,” it said.Trade90685650India’s March export growth moderated to 14.5% year-on-year from the 25.1% growth witnessed in February.
   FCA makes trio of senior hires  2022/04/05 12:32:48 Financial Planning Today
The Financial Conduct Authority (FCA) has made three senior hires as it fills 95 new authorisation roles. The regulator has appointed two new directors of authorisations. A new finance director will also join next month. Craig Chapman will join the FCA as finance director to replace David Godfrey who has retired. Mr Chapman is currently CFO at RTX RouteTrader, a fintech firm operating in the telecoms sector. He has also held senior finance roles at commodities trader ED&F Man and Barclays Capital. Laura Dawes will take up one of the two new director of authorisations roles. She is currently interim director of strategy, policy, international and intelligence in the FCA’s enforcement and market oversight division, a role she has held since January 2021. She was formerly head of department for retail and regulatory investigations. {loadposition hidden2} Before joining the FCA in 2011, Ms Dawes worked as a barrister. Dominic Cashman joins as the second director of authorisations. He joins from interdealer broker TP ICAP where he was head of integration and transformation.
   S&P Shorts "Fully-Covered" Amid "Macro Fatigue", Downside-Hedging-Flows Return  2022/04/04 14:50:00 Zero Hedge
S&P Shorts "Fully-Covered" Amid "Macro Fatigue", Downside-Hedging-Flows Return We have perhaps seen the end of the recent meltup as Nomura warns markets are suffering from some "macro fatigue"… ...and BofA confirmed in a trading desk note this morning that "our model''s S&P 500 short could be fully covered..." adding that "we are in the late-stages of a short-cover-rally as the implied vol spike in heavily-shorted names has started to fade..." This is important since, as Nomura''s Charlie McElligott has detailed in recent weeks, the Equities ''recovery'' has been "funded" on three fronts: 1) the liquidation of crowded, short-dated Index / ETF option downside hedges as spot rallied / vol hammered into a massive “Positive Delta” thrust around- and out-of the March Op-Ex; 2) the ensuing impulse re-allocation of Longs from Systematic funds of large $magnitude on said “spot rally, vol crash” dynamic; and 3) resumption of highly-speculative Retail “YOLO’ing” behavior via the Options complex, buying short-dated / highly-convex deep OTM upside in “meme” stock favorites in attempted “Gamma squeezes” via Options Dealer hedging flows.
   Petrol, diesel prices see 11th hike in 13 days  2022/04/03 01:10:05 Economic Times India
Petrol and diesel prices were hiked today by 80 paise a litre each, taking the total increase in rates in the last 13 days to Rs 8 per litre.Price of petrol and diesel in Delhi now stand at Rs 103.41 a litre and Rs 94.67 per litre (increased by 80 paise). In Mumbai, the petrol & diesel prices per litre at Rs 118.41 (increased by 84 paise) & Rs 102.64 (increased by 85 paise).Rates have been increased across the country and vary from state to state depending upon the incidence of local taxation. This is the 11th increase in prices since the ending of a four-and-half-month long hiatus in rate revision on March 22.The prices across key metros todayDelhi Petrol at Rs 103.41, diesel at Rs 94.67 per litreMumbai Petrol at Rs 118.41, diesel at Rs 102.64 per litreChennai Petrol at Rs 108.96, diesel at Rs 99.04 per litreKolkata Petrol at Rs 113.03, diesel at Rs 97.82Nomura in a recent report sees further price hikes of Rs 12 for petrol and diesel (assuming global petrol/diesel prices of $132-136 a barrel, which corresponds to Brent crude oil price of $112 a barrel).
   Half Of Goldman''s Ultra Wealthy Clients Will Be Adding Crypto To Their Portfolio  2021/07/21 17:00:00 Zero Hedge
Half Of Goldman''s Ultra Wealthy Clients Will Be Adding Crypto To Their Portfolio A recent analysis by CapGemini found that there are now a record 21 million millionaires in the world who hold a total $80 trillion in wealth among them. The number of millionaires grew by 7.6% in just the last year alone, despite - or rather thanks to - the coronavirus pandemic. Some have said that if each of these high net worth individuals were to buy and hold just one bitcoin, there would be no more bitcoins in circulation. Of course, that can''t possibly happen: we know that a handful of whale hold the vast majority of bitcoins. So much so that according to JPMorgan just 5% of the roughly 18.7 million bitcoin currently in circulation have actually changed hands in the past year , meaning that millions of bitcoin are held by a handful of accounts. Naturally, we don''t expect every millionaire in the world to want to own bitcoin but many of those who don''t currently will want some exposure. That''s what Goldman Sachs found recently when a survey among its family office clients (read very reach clients) want to add digital currencies to their stable of investments.
   Ban on Mastercard to hit RBL, Yes Bank  2021/07/16 01:46:00 The New Indian Express
According to a report by Nomura, RBL Bank, Yes Bank, and Bajaj Finserv are most impacted as their entire card schemes are allied with Mastercard
   RBL Bank, Yes Bank, Bajaj Finserv Most Impacted By Mastercard Restrictions: Nomura BloombergQuint  2021/07/15 05:21:08 India Finance News
The Reserve Bank of Indias decision to stop Mastercard from onboarding new customers for its inability to meet data localisation rules will hurt some banks
   MSP Recovery To Go Public Via SPAC Merger Valuing Company at $33 Billion  2021/07/12 14:58:48 Equities
Image source: MSP Recovery By Noor Zainab Hussain July 12 (Reuters) - MSP Recovery, which helps recover money from Medicare and Medicaid secondary payments, will go public through a deal with a blank-check firm, giving the combined company an enterprise value of $32.6 billion in the second biggest SPAC merger. The deal with Lionheart Acquisition Corp II is expected to fetch $230 million in proceeds for MSP, it said on Monday. MSP, led by billionaire entrepreneur John Ruiz, collects and analyzes data on the government-backed Medicare and Medicaid insurance claims, and then helps recover money owed to its clients, which include hospitals, health insurers and medical providers. "Medicare and Medicaid pay billions of dollars of healthcare claims they should not pay. This harms taxpayers, the underprivileged, and America''s senior citizens," Ruiz said. "Our tools help fix this broken system." Medicare Advantage plans cater to Americans older than 65 and those with disabilities. The Florida-based company, founded in 2014, earns a fee after a successful recovery.
   Peter Thiel-backed crypto exchange Bullish to go public via $9 billion SPAC merger  2021/07/09 16:03:28 Business Insider Markets
Summary List Placement Bullish, a cryptocurrency exchange backed by billionaire entrepreneur Peter Thiel, on Friday announced it''s going public in a merger with special purpose acquisition company Far Peak Acquisition in a deal valued at $9 billion. The company is expected to have approximately $600 million in net cash, including $300 million from EFM Asset Management, with participation from BlackRock, Cryptology Asset Group, and Galaxy Digital. The transaction is expected to close by the end of 2021 and is subject to approval by Far Peak stockholders. Bullish was launched by Block.One, a blockchain company that has funded more than 100 entrepreneurs to date. Block.One is backed by Thiel as well as prominent hedge fund managers Alan Howard and Louis Bacon. Among the investors of Bullish are Richard Li, one of Hong Kong''s wealthiest billionaires; Christian Angermayer, a German billionaire entrepreneur; and Japanese investment bank Nomura. Upon completion, Far Peak CEO and chair Thomas Farley will become the CEO of Bullish.