Experts believe a wider spat with Europe would be much more damaging than the current tit-for-tat with China.Traderead more
After the Fed released minutes of its last meeting, the bond market signaled it fears the Fed will not be aggressive enough with its rate cutting.Market Insiderread more
The Fed minutes also note that "a couple" members wanted a 50 basis point cut, based primarily on the weak inflation readings.The Fedread more
Markets pay particular attention to Italy's spending, given its public debt pile. This stands at above 130% of its growth rate, one of the highest in the world.Politicsread more
Flight bookings to Hong Kong have fallen 10%, hit by the unrest in the city, said Alan Joyce, the chief executive of Australian carrier Qantas Airways.Airlinesread more
Analysts generally doubt how effective the People Bank of China's latest interest rate announcement will be in significantly helping businesses grow.China Economyread more
These in-demand skills can command top pay packets, says Feon Ang of professional networking site LinkedIn.Get Aheadread more
Japanese manufacturing activity shrank for a fourth straight month in August as export orders fell at a sharper pace.Asia Marketsread more
The Washington governor had centered his campaign around climate change, calling it "the most urgent challenge of our time."Politicsread more
The inversion is seen by many veteran traders as an important recession omen, though the timing on the eventual downturn is less predictable.Bondsread more
Here's what Nordstrom reported for its fiscal second-quarter earnings.Retailread more
This could be the year cryptocurrency trading gains momentum within financial firms, including hedge funds and trading desks at Wall Street's biggest banks, according to a new survey.
One in five firms are considering trading digital currency in the next three to 12 months, according to a Thomson Reuters survey published Tuesday. Of those that showed interest, about 70 percent said they were planning to trade in the next three to six months, and 22 percent said they would look to trade crypto in 6 to 12 months.
"Cryptocurrency is still a relatively small part of the trading market, but this survey indicates this niche segment is starting to enter the mainstream of the financial services industry," Neill Penney, co-head of Trading at Thomson Reuters, said in a press release. "This is a major change from a year ago."
Thomson Reuters surveyed more than 400 clients across its trading solutions, which included hedge funds, large asset managers, and trading desks at the biggest banks. The results showed a widespread familiarity with cryptocurrencies, Thomson Reuters said.
The investor survey results and news Monday that Wall Street giant Goldman Sachs made its first hire for cryptocurrency markets are boosting prices this week, according to Brian Kelly, founder and CEO of BKCM.
"In the last month we have seen Goldman and Barclays publicly acknowledge they are planning to trade cryptocurrency. That has everyone on notice that institutional money is ready to enter the market," Kelly said. "This should be very positive for prices."
Bitcoin surged to its highest level in more than a month Tuesday, extending the post-Tax Day rebound to a high of $9,337.66 Tuesday, according to CoinDesk. The cryptocurrency is coming off its worst quarter ever and fell 48 percent in the first three months of 2018.
In a note to clients Tuesday, Kelly predicted a new resistance level of $12,000 for bitcoin. Kelly recently backed venture capitalist Tim Draper's call for the cryptocurrency to hit $250,000 within four years.