After staving off recession for longer than many thought possible, the US consumer is finally about to crack, according to Bloomberg’s latest Markets Live Pulse survey. More than half of 526 respondents said that personal consumption — the most important driver of economic growth — will shrink in early 2024, which would...
Morgan Stanley has pushed back against Treasury bears, saying investors should buy US sovereign debt as markets may be too optimistic over the prospect of a soft-landing for the economy. Treasuries are also likely to be supported as inflation can keep slowing even if growth does remain relatively healthy, strategists...
Short sellers are raking in profits by betting against a part of the US equity market overlooked by most investors: small-cap stocks. The group has seen paper profits of nearly $13 billion this year by wagering on a drop in the prices of small-, micro- and nano-cap shares, according to...
Tesla Inc.’s Dojo supercomputer may add as much as $500 billion to the company’s market value through faster adoption of robotaxis and network services, according to Morgan Stanley. Dojo can open up “new addressable markets,” just like AWS did for Amazon.com Inc., analysts including Adam Jonas and Daniela M Haigian...
Traders in the $325 billion industry for emerging-market exchange-traded funds are shifting cash toward strategies that focus on brighter spots in the developing world as China’s economy stumbles. Actively managed ETFs — especially those with exposure to India’s world-beating growth and Latin American stocks — have lured nearly half a...
Investment advisors expressed confidence their clients won’t be among those targeted by the IRS in an initiative that cracks down on wealthy tax cheats. The IRS announced Friday that it would use funding from tax and climate legislation approved last year to increase scrutiny of high-income earners, partnerships, large corporations...
Natalie Wolfsen has stepped down as chief executive of AssetMark Financial Holdings to take over as the new CEO of Orion Advisor Solutions, a competing technology and turnkey asset management provider. AssetMark announced Friday that Michael Kim, a 13-year veteran of AssetMark, has been named the company’s new CEO, effective...
After a dispute about fees between a leading corporate governance watchdog and REIT management, the merger of two real estate investment trusts controlled by Nicholas Schorsch’s AR Global appears to have been approved Friday, resulting in a $375 million “internalization” fee to AR Global. The two AR Global REITs...
Another new wealth management firm has been born in Houston, Texas, as financial advisors Ed Winegar and Gregory Berg, CPWA, CPFA, CRPC TM, CKA, launch their own firm with LPL Financial’s employee advisor channel. The duo was previously with Merrill Lynch where they served approximately $205 million in advisory, brokerage...
The US Commodity Futures Trading Commission brought enforcement actions against three decentralized finance firms and signaled that more may be coming. The CFTC alleged on Thursday that the companies Opyn Inc., ZeroEx Inc. and Deridex Inc. broke the agency’s rules by illegally allowing US customers to trade digital-asset derivatives without registering. The...