Philip Lane, governor of Ireland's central bank, and Spanish Economy Minister Luis de Guindos are under consideration for vice president of the European Central Bank. Lane appears to be the choice of the European Parliament's economic committee, while the French government "most likely" will back de Guindos, a source says.
Haruhiko Kuroda, who has supported Japanese Prime Minister Shinzo Abe's effort to drive up inflation, has been nominated to a second five-year term as governor of the Bank of Japan. The government has nominated Masazumi Wakatabe, a supporter of the BoJ's aggressive monetary policy, as deputy governor.
Despite the US equity market's five-day revival, technical analyst Mark Arbeter, CMT, estimates "there is a more than 50/50 chance we rollover and test (within 1%-2%) the recent lows." Other analysts share this view, although strategist Sam Stovall says a pullback would not indicate imminent recession and therefore would present buying opportunities.
Institutional investors are eagerly buying NVIDIA shares, pushing the price up by 21% since the start of the year, technical analyst Lucas Downey writes. Positive chart indicators and survival of the recent market pullback make NVIDIA an increasingly attractive buy, Downey writes.
The Securities and Exchange Commission has voted against the sale of the Chicago Stock Exchange, which trades about 1% of US stocks each day, to a Chinese-led consortium. SEC staffers had recommended approval.
A Trump administration budget plan to partly fund the Commodity Futures Trading Commission through fees on the futures industry that would likely be passed on to end users is not sitting well with Senate Republicans. CFTC Chairman J. Christopher Giancarlo, who has sought additional funding, stayed neutral on the proposal when asked at a recent hearing.
Net outflows from high-yield bond funds reached $10.89 billion in the week to Wednesday, according to EPFR Global, as investors anticipated interest-rate increases and as risk-averse sentiment rose.
The Commodity Futures Trading Commission is working to align reporting rules for swap-data repositories with those of other regulators but will not adopt Europe's favored method of dual-sided reporting, Chairman J. Christopher Giancarlo says. The CFTC requires one counterparty, usually the dealer, to report transaction details, which Giancarlo says is a better approach.
The Commodity Futures Trading Commission has warned investors to look out for cryptocurrency "pump-and-dump" schemes, in which promoters use social media and other online outlets to manipulate the market price of cryptocurrencies. The CFTC has received complaints from investors who have lost money through the scams.
Dan Bucsa, an oversight official at the Commodity Futures Trading Commission, has given a chilly reception to an executive's suggestion that the CFTC prioritize blockchain work more. It is up to the industry to "decide to transition to a new way of doing things," Bucsa says.
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