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Author Archives: Spencer Doar

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Graduate of University of Minnesota School of Journalism and Mass Communication

JLN Financials: Risk of US recession back on the agenda for markets; Fixed Income – Is It or Isn’t It Broken?; Toxic Loans Around the World Weigh on Global Growth Standard

First Impressions Nonbank Runs – A Flight of the Fancy Doug Ashburn – JLN “Potter’s not selling; Potter’s buying. Why? Because we’re panicking and he’s not!” – George Bailey We all remember the scene in “It’s a Wonderful Life” when James Stewart (as George Bailey) tries to stave off a run by nervous depositors at his Bailey Bros. Building and Loan while, across town, financier Mr. Potter looks to swoop in at fire sale prices. These days, according to a panel of economists at Monday’s CME Group-MSRI Prize in Innovative Quantitative Applications seminar, it may well be the Mr. Potters…

JLN Financials: Top US financial groups hold secret summits on long-termism; Fees Outweigh Yields in Hunt for Safety; The End of the New Normal? Standard

First Impressions Nonbank Runs – A Flight of the Fancy Doug Ashburn – JLN “Potter’s not selling; Potter’s buying. Why? Because we’re panicking and he’s not!” – George Bailey We all remember the scene in “It’s a Wonderful Life” when James Stewart (as George Bailey) tries to stave off a run by nervous depositors at his Bailey Bros. Building and Loan while, across town, financier Mr. Potter looks to swoop in at fire sale prices. These days, according to a panel of economists at Monday’s CME Group-MSRI Prize in Innovative Quantitative Applications seminar, it may well be the Mr. Potters…

JLN Options: OCC Announces Total Cleared Contract Volume Up Four Percent in January; The SEC’s Derivatives Proposal; Why there will be so much volatility this reporting season Standard

Observations & Insight OCC Announces Total Cleared Contract Volume Up Four Percent in January Press Release OCC, the world’s largest equity derivatives clearing organization, announced today total cleared contract volume for the month of January was up four percent from January 2015 with 371,870,087 contracts, marking the third highest January on record. Average daily volume at OCC was up nine percent from January 2015 with 19,572,110 contracts. OCC’s stock loan program reported strong volume numbers in January with year-to-date activity up 29 percent. goo.gl/7BSuPD ****SD: Updated market share statistics can be found under the “Exchanges” section. The top two Januarys…

JLN Financials: Central Banks Intensify Campaign for Negative Rates; Negative bond yield universe hits $5.5tn after Japan eases; European investors refuse to budge in move to electronic trading Standard

First Impressions BOJ’s Kuroda says no plan to adopt negative rates now Reuters Bank of Japan Governor Haruhiko Kuroda said he is not thinking of adopting a negative interest rate policy now, signalling that any further monetary easing will likely take the form of an expansion of its current massive asset-buying programme. reut.rs/23yJLKW ****SD: This was the Reuters story from before the BOJ’s decision. We know what happened next. Feels like Kuroda pulled the anti-Super Mario — said exactly what he was ‘thinking’ and then did the opposite. Quote of the Day “We may not see a currency war this…

JLN Options: Asia overtakes US as world’s top futures hub; When Systematic Trading Comes to Credit Markets; The Return of the Currency Crash Standard

Observations & Insight CBOE RMC, Feb. 29-Mar 2, 2016, Bonita Springs, FL Now in its 32st year in the U.S., the annual CBOE Risk Management Conference (RMC) is the premiere financial industry conference designed for institutional users of equity derivatives and volatility products. Hosted by the Chicago Board Options Exchange (CBOE), RMC is an educational forum dedicated to exploring the latest products, trading strategies and tactics used to manage risk exposure and enhance yields. RMC brings together top traders, strategists and researchers, enabling participants to learn the state-of-the-art in investment risk management from true experts in the field. Learn more…

JLN Financials: Deutsche Bank Reports First Full-Year Loss Since Crisis; Brokers found not guilty of Libor fraud label trial a farce; The $29 Trillion Corporate Debt Hangover That Could Spark a Recession Standard

First Impressions Participate in our 2016 survey – give us your time and maybe we’ll give you an Apple Watch We kicked off our survey campaign a ways back but there’s still time to fill it out! It’s a quicker process than rush hour queues at Starbucks, less than the preparation time of some instant dinners and about the length of a commercial break. Your feedback helps us better understand your wants and preferences. Plus, we tried to make it fun and colorful. And, you know, there’s the watch to win. Click HERE to get started. Quote of the Day…

JLN Options: In Europe, Traders See Epidemic of Volatility Just Starting; Fed says monitoring volatility as it holds rates; Bear Markets in Small Caps Take More to Smother Than This Standard

Observations & Insight New Study On Weekly, Monthly S&P 500 PutWrite Indexes Released Press Release The Chicago Board Options Exchange (CBOE) today announced the release of a new study that examines both the monthly CBOE S&P 500 PutWrite Index (PUTSM Index) and the CBOE S&P 500 One-Week PutWrite Index (WPUTSM Index), comparing their performances with that of traditional benchmark stock and bond indexes. This is the first comprehensive study that examines the performance of a benchmark strategy index that incorporates WeeklysSM options. Written by Oleg Bondarenko, professor of finance at the University of Illinois at Chicago, and sponsored by CBOE,…

JLN Financials: Fed Raises Concerns on Growth and Keeps Interest Rates Steady; Goldman’s Former Head of Junk Bond Trading Has Some Choice Words About the Credit Market; Libor Brokers Acquitted of Fraud in London Trial Standard

First Impressions JLN Survey 2016 – Still Time to Get in the Running for an Apple Watch All we ask of you for the chance to win an Apple Watch is three minutes of your time — it’s a quicker process than rush hour queues at Starbucks, less than the preparation time of some instant dinners and about the length of a commercial break. If time is money and various Apple Watch models retail from $350 on up … Let’s just say you’re better off taking the survey than getting roped into the next Powerball madness. Click HERE to get…

JLN Options: Deutsche Bank – The Market Is Pricing In a Rare Stretch of Carnage in Equities; Market Data Deathmatch Impacting Investors Despite Efficiency of U.S. Equity Market, Says TABB Group Research; How Fearful Were Investors in August? Not as Much as Thought Standard

Observations & Insight Reg AT Stirs Concerns Ahead of CFTC TAC Meeting Sarah Rudolph – JLN The CFTC’s Technology Advisory Committee (TAC) was scheduled to meet on Tuesday to discuss three issues important to the trading industry: 1) the Regulation Automated Trading (Reg AT); 2) swap data standardization and harmonization; and 3) the potential of blockchain and distributed ledger technology to the derivatives market. goo.gl/rQmidq ++++ CBOE RMC, Feb. 29-Mar 2, 2016, Bonita Springs, FL Now in its 32st year in the U.S., the annual CBOE Risk Management Conference (RMC) is the premiere financial industry conference designed for institutional users…