| August 23, 2022 | | | | | Jeff Bergstrom
Editor
John Lothian News | |
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| | | | Observations & Insight | | |
MWE Short: Lisa Dunsky - Hit By A Brick: How Setbacks Shape Your Career
JohnLothianNews.com
"Sometimes life is going to hit you in the head with a brick. Don't lose faith." - Steve Jobs, at the commencement speech at Stanford in 2005. It's sometimes hard to see what challenges and setbacks will do for your career, but in this very personal and articulate presentation, Lisa Dunsky, senior compliance officer at OCC, describes how tragic events can transform your skill set and your career.
Watch the video »
| | | | | | Lead Stories | | | Wall Street's 'fear gauge' is soaring once againâhere's why
Will Daniel - Fortune
The Dow Jones Industrial Average sank over 600 points on Monday as fears of aggressive interest rate hikes by the Federal Reserve crept back into investors' minds, putting an end to this summer's stock market rally.
At the same time, the Chicago Board Options Exchange's Volatility Index (VIX), also known as Wall Street's "fear gauge," jumped nearly 17% to start the week.
/jlne.ws/3dLtuBj
Young Retail Traders See 'Even Worse' Times Ahead for Stock Markets
Enrique Roces and Natalia Kniazhevich - Bloomberg
US institutional investors became more optimistic about stocks during the summer rally, but retail traders under 40 are becoming more gloomy over where markets are headed.
"I don't think the storm will be over in this year or next year," said Errol Coleman, a 23-year-old in Tampa, Florida, who creates educational content for social media platforms. "The rally that we're seeing right now isn't something to be too excited about."
/jlne.ws/3QVfBii
Dow plunges more than 600 points as US stocks suffer their biggest drop since June ahead of Fed conference
Phil Rosen - Business Insider
Investors are eyeing Fed Chair Jerome Powell's comments at the Jackson Hole conference on Monday.The euro dipped below parity with the dollar again as the 10-year Treasury yield climbed back above 3%.
US stocks suffered their worst tumble in two months on Monday, with the Dow plunging more than 600 points, amid the faltering bear market rally.
/jlne.ws/3TbM5GT
Saudi Prince Says Oil's Disconnect May Force OPEC+ Action
Will Kennedy and Grant Smith - Bloomberg
Saudi Arabian Energy Minister Prince Abdulaziz bin Salman said "extreme" volatility and lack of liquidity mean the futures market is increasingly disconnected from fundamentals and OPEC+ may be forced to cut production. "The paper and physical markets have become increasingly more disconnected," he said in response to written questions from Bloomberg News. Prince Abdulaziz represents the largest oil producer in OPEC+ and is arguably the most important player in the 23-nation alliance. He said futures prices don't reflect the underlying fundamentals of supply and demand, which may require the group to tighten production when it meets next month to consider output targets.
/jlne.ws/3Cn1EWn
Fed seems to 'draw a line in the sand' on inflation, says JPMorgan, as danger of recession exceeds risk of inflation
Isabel Wang - MarketWatch
With central bankers heading to Jackson Hole, Wyo., this week for the Federal Reserve's most important economic policy event of the year, officials have seemed to "draw a line in the sand" on inflation, as there are reasons to believe that four-decade-high inflation will continue to cool while recession risks are rising, a JPMorgan strategist said in a note Monday.
/jlne.ws/3pGdOSu
| | | | | | Exchanges | | | Eurex KOSPI derivatives record volumes: Over 3 million Weekly Options traded since launch
Eurex
⢠In H1 2022, the total Eurex/KRX Link volume surged 160% YoY with close to 20 million contracts
⢠More than three million KOSPI Weekly Options contracts were traded within the first four months, with a monthly ADV of 83K in June; Night/Day ratio achieved a record high of 29.1% on 11 August 2022
/jlne.ws/3Af7F4B
SEOCH Reserve Fund Variable Contributions
HKEX
Please be advised that The SEHK Options Clearing House Limited (SEOCH) has re-calculated the Reserve Fund Requirement pursuant to SEOCH Rule 407 and Clearing House Procedures. The new market total Variable Contribution ("VC") of HK$785 million after the recalculation will be shared by all the SEOCH Participants based on their daily average total margin requirement and net premium paid during the period from 27 May 2022 to 22 August 2022 in accordance with Chapter 11 of the Operational Clearing Procedures for Options Trading Exchange Participants of SEOCH.
/bit.ly/3KfskKn
| | | | | | Regulation & Enforcement | | | ISDA provides new guidance on emerging and developing derivatives markets; Trade association highlights close-out netting as the most critical legal issue that needs addressing, while also pinpointing risk governance and management as areas to improve.
Wesley Bray - The Trade
The International Swaps and Derivatives Association (ISDA) has released new guidance which sets a path for emerging and developing economies to build safe and efficient derivatives markets.
/jlne.ws/3AGExF1
| | | | | | Strategy | | | Bitcoin (BTC) Stuck in Narrow Range as Traders Brace for Jackson Hole
Vildana Hajric - Bloomberg
The usually volatile Bitcoin has gotten stuck trading within a narrow range ahead of the Federal Reserve's annual Jackson Hole gathering later this week.
The world's largest digital coin by market value rose as much as 2.6% Tuesday to hover around $21,600, though it's largely been meandering below the $22,000 level since it started to sell off in mid-August. Other cryptocurrencies, including Ether, also rose, with an index of the 100 largest tokens adding roughly 2.3%.
/jlne.ws/3AFhiei
| | | | | | Miscellaneous | | | AMC Goes APE
Matt Levine - Bloomberg
My basic meme-stock corporate finance advice is that, if you are a public company, and people want to pay a lot of money for your stock for no real reason, you should sell it to them. 1 If your stock is overpriced, you should sell it. This is good for your existing shareholders, because you are selling shares for more than they are worth, which is accretive. It is bad for the people buying the shares from you, because they are overpaying, but on the other hand they were going to buy the shares anyway from someone else on the stock exchange, so they might as well buy them from you instead.
/jlne.ws/3TbaT1O
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