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JYP

JYP

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2021-06-13

Crypto

'CryptoPunk' NFT sells for $11.8 million at Sotheby's

2021-06-12

Interesting

Is inflation eating up all the interest you're earning on 10-year Treasury notes?

2021-06-11

Interesting

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2021-02-04

Sick

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2021-02-01

Nice

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2021-01-29

Desperate

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2021-01-25

Nice

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2021-01-24

Swee

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2021-01-23

Too much incumbent for ICE to transform fast enough

What Could Happen To Tesla Stock In A Merger With General Motors

2021-01-23

Huat

Bitcoin's skid rings alarm bells as money manager says retreat to $20,000 ahead

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Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1623530160,"share":"https://www.laohu8.com/m/news/2143788705?lang=&edition=full","pubTime":"2021-06-13 04:36","market":"us","language":"en","title":"'CryptoPunk' NFT sells for $11.8 million at Sotheby's","url":"https://stock-news.laohu8.com/highlight/detail?id=2143788705","media":"Dow Jones","summary":"Sotheby's announced the work was bought by Israeli entrepreneur Shalom Meckenzie, the largest shareh","content":"<blockquote>\n Sotheby's announced the work was bought by Israeli entrepreneur Shalom Meckenzie, the largest shareholder of digital sports company DraftKings.\n</blockquote>\n<p><b>Who says the NFT bubble has popped ?</b></p>\n<p>A non-fungible token (NFT) of a digital artwork called a CryptoPunk defied expectations and just sold for $11.8 million at Sotheby's on Thursday this week.</p>\n<p>\"CryptoPunks are a set of 10,000 pixel-art characters made by Larva Labs in 2017\" and the mega bucks <a href=\"https://laohu8.com/S/AONE\">one</a> that sold-- CryptoPunk #7523 -- is \"of the sought-after Alien variety with blue-green skin, and wearing a medical mask,\" according to Reuters . It was bought with bitcoin and no physical artwork changes hands.</p>\n<p>Sotheby's announced the work was bought by Israeli entrepreneur Shalom Meckenzie, the largest shareholder of digital sports company DraftKings <a href=\"https://laohu8.com/S/DKNG\">$(DKNG)$</a>.</p>\n<p>\"We are excited to continue to explore new and interesting ways in presenting these cutting-edge works,\" Michael Bouhanna, a contemporary art specialist at Sotheby's, told Reuters.</p>\n<p>This week the famous \"Doge\" NFT also sold at another auction for $4 million.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>'CryptoPunk' NFT sells for $11.8 million at Sotheby's</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n'CryptoPunk' NFT sells for $11.8 million at Sotheby's\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2021-06-13 04:36</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<blockquote>\n Sotheby's announced the work was bought by Israeli entrepreneur Shalom Meckenzie, the largest shareholder of digital sports company DraftKings.\n</blockquote>\n<p><b>Who says the NFT bubble has popped ?</b></p>\n<p>A non-fungible token (NFT) of a digital artwork called a CryptoPunk defied expectations and just sold for $11.8 million at Sotheby's on Thursday this week.</p>\n<p>\"CryptoPunks are a set of 10,000 pixel-art characters made by Larva Labs in 2017\" and the mega bucks <a href=\"https://laohu8.com/S/AONE\">one</a> that sold-- CryptoPunk #7523 -- is \"of the sought-after Alien variety with blue-green skin, and wearing a medical mask,\" according to Reuters . It was bought with bitcoin and no physical artwork changes hands.</p>\n<p>Sotheby's announced the work was bought by Israeli entrepreneur Shalom Meckenzie, the largest shareholder of digital sports company DraftKings <a href=\"https://laohu8.com/S/DKNG\">$(DKNG)$</a>.</p>\n<p>\"We are excited to continue to explore new and interesting ways in presenting these cutting-edge works,\" Michael Bouhanna, a contemporary art specialist at Sotheby's, told Reuters.</p>\n<p>This week the famous \"Doge\" NFT also sold at another auction for $4 million.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"DKNG":"DraftKings Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2143788705","content_text":"Sotheby's announced the work was bought by Israeli entrepreneur Shalom Meckenzie, the largest shareholder of digital sports company DraftKings.\n\nWho says the NFT bubble has popped ?\nA non-fungible token (NFT) of a digital artwork called a CryptoPunk defied expectations and just sold for $11.8 million at Sotheby's on Thursday this week.\n\"CryptoPunks are a set of 10,000 pixel-art characters made by Larva Labs in 2017\" and the mega bucks one that sold-- CryptoPunk #7523 -- is \"of the sought-after Alien variety with blue-green skin, and wearing a medical mask,\" according to Reuters . It was bought with bitcoin and no physical artwork changes hands.\nSotheby's announced the work was bought by Israeli entrepreneur Shalom Meckenzie, the largest shareholder of digital sports company DraftKings $(DKNG)$.\n\"We are excited to continue to explore new and interesting ways in presenting these cutting-edge works,\" Michael Bouhanna, a contemporary art specialist at Sotheby's, told Reuters.\nThis week the famous \"Doge\" NFT also sold at another auction for $4 million.","news_type":1},"isVote":1,"tweetType":1,"viewCount":187,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":188475686,"gmtCreate":1623460681645,"gmtModify":1634032935571,"author":{"id":"3574383960851394","authorId":"3574383960851394","name":"JYP","avatar":"https://static.tigerbbs.com/a0df3eb8c19e40b06b9a7b5d13f276c1","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574383960851394","idStr":"3574383960851394"},"themes":[],"htmlText":"Interesting","listText":"Interesting","text":"Interesting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/188475686","repostId":"2142520474","repostType":4,"repost":{"id":"2142520474","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1623452760,"share":"https://www.laohu8.com/m/news/2142520474?lang=&edition=full","pubTime":"2021-06-12 07:06","market":"us","language":"en","title":"Is inflation eating up all the interest you're earning on 10-year Treasury notes?","url":"https://stock-news.laohu8.com/highlight/detail?id=2142520474","media":"Dow Jones","summary":"'Part of the point of being invested in bonds is to preserve purchasing power,' says CIO of Osterwei","content":"<blockquote>\n 'Part of the point of being invested in bonds is to preserve purchasing power,' says CIO of Osterweis total return strategy.\n</blockquote>\n<p>Investors may appear to be shrugging off inflation, but concerns persist.</p>\n<p>The 10-year Treasury yieldwas trading at 1.46% Friday , drifting lower despite Thursday's report that the pace of inflation soared for a second month in a row during the economic reopening in the pandemic.</p>\n<p>\"Inflation is significantly higher than the compensation you're receiving from being invested in fixed income,\" said Eddy Vataru, chief investment officer of Osterweis Capital Management's total return strategy, in an interview. \"Part of the point of being invested in bonds is to preserve purchasing power.\"</p>\n<p>Fixed-income investors worry about rising inflation because it erodes the value of their existing bonds . While inflation concerns tend to prompt selling, driving up yields, investors are now weighing whether the latest signs of inflation are transitory or persistent as the economy rebounds.</p>\n<p>\"I would argue that there's a significant part of it that's persistent,\" Vataru said, \"but you won't know that for months.\"</p>\n<p>The decline in 10-year yields doesn't necessarily mean market participants agree with the Fed that inflation is transient, according to Vataru, whose career in fixed-income includes past jobs at hedge fund firm Citadel and asset management giant BlackRock.</p>\n<p>Vataru said short positioning in the Treasury market may partly explain the yield dip after Thursday's report on the consumer-price index showed the cost of living jumped again in May, driving the pace of inflation to a 13-year high of 5%.</p>\n<p>Investors with short positions are betting that prices of Treasuries will fall, pushing up yields, according to Vataru. Bond prices and yields move in opposite directions. If rates don't rise quickly or far enough, these investors may become nervous about losses and exit their bets. Short sellers become buyers when they cover their positions.</p>\n<p>\"A lot of the buying you've seen in the last week or so is probably short covering,\" said Vataru. \"That's part of the reason that when you have a move like this you don't have quite the reaction you otherwise think you would,\" he said of the move down Thursday in the 10-year yield.</p>\n<p>Still, yields would be higher if there was more consensus that inflation is a persistent problem, according to Vataru. He said he worries about signs of wage inflation in particular, as that can be sticky, and believes inflation will be in the 3% to 5% range \"the way we're tracking right now.\"</p>\n<p>But Ellen Gaske, lead economist for G-10 economies at PGIM Fixed Income's global macroeconomic research group, said the yield on the 10-Year Treasury is up from last year and now sits in line with investors' expectations that inflation is transitory.</p>\n<p>\"We already saw the reflation trade,\" she said. \"We already have seen 10-year yields back up, from 50 basis points last summer all the way up to where they are today.\"</p>\n<p>Gaske explained that rates \"quickly reflected\" expectations that \"we would climb out of this crisis.\" She now thinks that by the end of this year the Fed may begin tapering its asset purchases, which along with low interest rates has been part of its accommodative stance.</p>\n<p>Gaske earlier this year \"pulled forward\" her expectations for a rate increase by the Fed to the second half of 2023. Previously, her prediction was for the Fed to raise its benchmark rate in 2024, with the adjustment to her forecast made in the first quarter, because economic momentum appeared strong as COVID-19 vaccinations rolled out.</p>\n<p>Gaske expects spikes in inflation will probably be short-lived, partly because prices are being measured against low levels seen last year, and supply-chain bottlenecks that have emerged in the rebound in demand will be worked out. But she said the acceleration of rent-related inflation caught her eye in the latest CPI reading, adding it's an area she'll be watching closely for potentially persistent higher costs.</p>\n<p>\"I think the Fed itself is kind of in a pickle,\" said Vataru, as any new characterization by the central bank of inflation as persistent would probably lead to higher rates that would dampen the recovery.</p>\n<p>\"They almost have to say that it is transitory to kind of keep this going,\" he said.</p>\n<p>Meanwhile, the Fed's massive quantitative easing program, or QE, is helping to \"stoke the fire\" despite no structural issues that point to the U.S. sitting in recession for years to come, according to Vataru. The U.S. isn't dealing with the same \"big debacle\" faced in the throes of the 2008 financial crisis, he said, yet monetary and fiscal stimulus continue with stocks near record highs and vaccine rollouts leading to fewer COVID cases domestically and abroad.</p>\n<p>\"It's a dangerous potion to have a policy that, in my mind, is really inflationary and then dismiss whatever inflation that comes through the system as transitory,\" Vataru said.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Is inflation eating up all the interest you're earning on 10-year Treasury notes?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIs inflation eating up all the interest you're earning on 10-year Treasury notes?\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2021-06-12 07:06</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<blockquote>\n 'Part of the point of being invested in bonds is to preserve purchasing power,' says CIO of Osterweis total return strategy.\n</blockquote>\n<p>Investors may appear to be shrugging off inflation, but concerns persist.</p>\n<p>The 10-year Treasury yieldwas trading at 1.46% Friday , drifting lower despite Thursday's report that the pace of inflation soared for a second month in a row during the economic reopening in the pandemic.</p>\n<p>\"Inflation is significantly higher than the compensation you're receiving from being invested in fixed income,\" said Eddy Vataru, chief investment officer of Osterweis Capital Management's total return strategy, in an interview. \"Part of the point of being invested in bonds is to preserve purchasing power.\"</p>\n<p>Fixed-income investors worry about rising inflation because it erodes the value of their existing bonds . While inflation concerns tend to prompt selling, driving up yields, investors are now weighing whether the latest signs of inflation are transitory or persistent as the economy rebounds.</p>\n<p>\"I would argue that there's a significant part of it that's persistent,\" Vataru said, \"but you won't know that for months.\"</p>\n<p>The decline in 10-year yields doesn't necessarily mean market participants agree with the Fed that inflation is transient, according to Vataru, whose career in fixed-income includes past jobs at hedge fund firm Citadel and asset management giant BlackRock.</p>\n<p>Vataru said short positioning in the Treasury market may partly explain the yield dip after Thursday's report on the consumer-price index showed the cost of living jumped again in May, driving the pace of inflation to a 13-year high of 5%.</p>\n<p>Investors with short positions are betting that prices of Treasuries will fall, pushing up yields, according to Vataru. Bond prices and yields move in opposite directions. If rates don't rise quickly or far enough, these investors may become nervous about losses and exit their bets. Short sellers become buyers when they cover their positions.</p>\n<p>\"A lot of the buying you've seen in the last week or so is probably short covering,\" said Vataru. \"That's part of the reason that when you have a move like this you don't have quite the reaction you otherwise think you would,\" he said of the move down Thursday in the 10-year yield.</p>\n<p>Still, yields would be higher if there was more consensus that inflation is a persistent problem, according to Vataru. He said he worries about signs of wage inflation in particular, as that can be sticky, and believes inflation will be in the 3% to 5% range \"the way we're tracking right now.\"</p>\n<p>But Ellen Gaske, lead economist for G-10 economies at PGIM Fixed Income's global macroeconomic research group, said the yield on the 10-Year Treasury is up from last year and now sits in line with investors' expectations that inflation is transitory.</p>\n<p>\"We already saw the reflation trade,\" she said. \"We already have seen 10-year yields back up, from 50 basis points last summer all the way up to where they are today.\"</p>\n<p>Gaske explained that rates \"quickly reflected\" expectations that \"we would climb out of this crisis.\" She now thinks that by the end of this year the Fed may begin tapering its asset purchases, which along with low interest rates has been part of its accommodative stance.</p>\n<p>Gaske earlier this year \"pulled forward\" her expectations for a rate increase by the Fed to the second half of 2023. Previously, her prediction was for the Fed to raise its benchmark rate in 2024, with the adjustment to her forecast made in the first quarter, because economic momentum appeared strong as COVID-19 vaccinations rolled out.</p>\n<p>Gaske expects spikes in inflation will probably be short-lived, partly because prices are being measured against low levels seen last year, and supply-chain bottlenecks that have emerged in the rebound in demand will be worked out. But she said the acceleration of rent-related inflation caught her eye in the latest CPI reading, adding it's an area she'll be watching closely for potentially persistent higher costs.</p>\n<p>\"I think the Fed itself is kind of in a pickle,\" said Vataru, as any new characterization by the central bank of inflation as persistent would probably lead to higher rates that would dampen the recovery.</p>\n<p>\"They almost have to say that it is transitory to kind of keep this going,\" he said.</p>\n<p>Meanwhile, the Fed's massive quantitative easing program, or QE, is helping to \"stoke the fire\" despite no structural issues that point to the U.S. sitting in recession for years to come, according to Vataru. The U.S. isn't dealing with the same \"big debacle\" faced in the throes of the 2008 financial crisis, he said, yet monetary and fiscal stimulus continue with stocks near record highs and vaccine rollouts leading to fewer COVID cases domestically and abroad.</p>\n<p>\"It's a dangerous potion to have a policy that, in my mind, is really inflationary and then dismiss whatever inflation that comes through the system as transitory,\" Vataru said.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2142520474","content_text":"'Part of the point of being invested in bonds is to preserve purchasing power,' says CIO of Osterweis total return strategy.\n\nInvestors may appear to be shrugging off inflation, but concerns persist.\nThe 10-year Treasury yieldwas trading at 1.46% Friday , drifting lower despite Thursday's report that the pace of inflation soared for a second month in a row during the economic reopening in the pandemic.\n\"Inflation is significantly higher than the compensation you're receiving from being invested in fixed income,\" said Eddy Vataru, chief investment officer of Osterweis Capital Management's total return strategy, in an interview. \"Part of the point of being invested in bonds is to preserve purchasing power.\"\nFixed-income investors worry about rising inflation because it erodes the value of their existing bonds . While inflation concerns tend to prompt selling, driving up yields, investors are now weighing whether the latest signs of inflation are transitory or persistent as the economy rebounds.\n\"I would argue that there's a significant part of it that's persistent,\" Vataru said, \"but you won't know that for months.\"\nThe decline in 10-year yields doesn't necessarily mean market participants agree with the Fed that inflation is transient, according to Vataru, whose career in fixed-income includes past jobs at hedge fund firm Citadel and asset management giant BlackRock.\nVataru said short positioning in the Treasury market may partly explain the yield dip after Thursday's report on the consumer-price index showed the cost of living jumped again in May, driving the pace of inflation to a 13-year high of 5%.\nInvestors with short positions are betting that prices of Treasuries will fall, pushing up yields, according to Vataru. Bond prices and yields move in opposite directions. If rates don't rise quickly or far enough, these investors may become nervous about losses and exit their bets. Short sellers become buyers when they cover their positions.\n\"A lot of the buying you've seen in the last week or so is probably short covering,\" said Vataru. \"That's part of the reason that when you have a move like this you don't have quite the reaction you otherwise think you would,\" he said of the move down Thursday in the 10-year yield.\nStill, yields would be higher if there was more consensus that inflation is a persistent problem, according to Vataru. He said he worries about signs of wage inflation in particular, as that can be sticky, and believes inflation will be in the 3% to 5% range \"the way we're tracking right now.\"\nBut Ellen Gaske, lead economist for G-10 economies at PGIM Fixed Income's global macroeconomic research group, said the yield on the 10-Year Treasury is up from last year and now sits in line with investors' expectations that inflation is transitory.\n\"We already saw the reflation trade,\" she said. \"We already have seen 10-year yields back up, from 50 basis points last summer all the way up to where they are today.\"\nGaske explained that rates \"quickly reflected\" expectations that \"we would climb out of this crisis.\" She now thinks that by the end of this year the Fed may begin tapering its asset purchases, which along with low interest rates has been part of its accommodative stance.\nGaske earlier this year \"pulled forward\" her expectations for a rate increase by the Fed to the second half of 2023. Previously, her prediction was for the Fed to raise its benchmark rate in 2024, with the adjustment to her forecast made in the first quarter, because economic momentum appeared strong as COVID-19 vaccinations rolled out.\nGaske expects spikes in inflation will probably be short-lived, partly because prices are being measured against low levels seen last year, and supply-chain bottlenecks that have emerged in the rebound in demand will be worked out. But she said the acceleration of rent-related inflation caught her eye in the latest CPI reading, adding it's an area she'll be watching closely for potentially persistent higher costs.\n\"I think the Fed itself is kind of in a pickle,\" said Vataru, as any new characterization by the central bank of inflation as persistent would probably lead to higher rates that would dampen the recovery.\n\"They almost have to say that it is transitory to kind of keep this going,\" he said.\nMeanwhile, the Fed's massive quantitative easing program, or QE, is helping to \"stoke the fire\" despite no structural issues that point to the U.S. sitting in recession for years to come, according to Vataru. The U.S. isn't dealing with the same \"big debacle\" faced in the throes of the 2008 financial crisis, he said, yet monetary and fiscal stimulus continue with stocks near record highs and vaccine rollouts leading to fewer COVID cases domestically and abroad.\n\"It's a dangerous potion to have a policy that, in my mind, is really inflationary and then dismiss whatever inflation that comes through the system as transitory,\" Vataru said.","news_type":1},"isVote":1,"tweetType":1,"viewCount":141,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":181654877,"gmtCreate":1623392311899,"gmtModify":1634033821116,"author":{"id":"3574383960851394","authorId":"3574383960851394","name":"JYP","avatar":"https://static.tigerbbs.com/a0df3eb8c19e40b06b9a7b5d13f276c1","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574383960851394","idStr":"3574383960851394"},"themes":[],"htmlText":"Interesting","listText":"Interesting","text":"Interesting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/181654877","repostId":"2142279140","repostType":4,"isVote":1,"tweetType":1,"viewCount":79,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":317834108,"gmtCreate":1612434399704,"gmtModify":1703761808264,"author":{"id":"3574383960851394","authorId":"3574383960851394","name":"JYP","avatar":"https://static.tigerbbs.com/a0df3eb8c19e40b06b9a7b5d13f276c1","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574383960851394","idStr":"3574383960851394"},"themes":[],"htmlText":"Sick","listText":"Sick","text":"Sick","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/317834108","repostId":"1198219554","repostType":4,"isVote":1,"tweetType":1,"viewCount":266,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":312466733,"gmtCreate":1612175411922,"gmtModify":1703758288875,"author":{"id":"3574383960851394","authorId":"3574383960851394","name":"JYP","avatar":"https://static.tigerbbs.com/a0df3eb8c19e40b06b9a7b5d13f276c1","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574383960851394","idStr":"3574383960851394"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/312466733","repostId":"2108613273","repostType":4,"isVote":1,"tweetType":1,"viewCount":191,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":316359545,"gmtCreate":1611917534187,"gmtModify":1703756189566,"author":{"id":"3574383960851394","authorId":"3574383960851394","name":"JYP","avatar":"https://static.tigerbbs.com/a0df3eb8c19e40b06b9a7b5d13f276c1","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574383960851394","idStr":"3574383960851394"},"themes":[],"htmlText":"Desperate","listText":"Desperate","text":"Desperate","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/316359545","repostId":"2107295294","repostType":4,"isVote":1,"tweetType":1,"viewCount":252,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":319342746,"gmtCreate":1611542640785,"gmtModify":1703750753691,"author":{"id":"3574383960851394","authorId":"3574383960851394","name":"JYP","avatar":"https://static.tigerbbs.com/a0df3eb8c19e40b06b9a7b5d13f276c1","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574383960851394","idStr":"3574383960851394"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/319342746","repostId":"2106419376","repostType":4,"isVote":1,"tweetType":1,"viewCount":143,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":319078910,"gmtCreate":1611454616430,"gmtModify":1703750489105,"author":{"id":"3574383960851394","authorId":"3574383960851394","name":"JYP","avatar":"https://static.tigerbbs.com/a0df3eb8c19e40b06b9a7b5d13f276c1","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574383960851394","idStr":"3574383960851394"},"themes":[],"htmlText":"Swee","listText":"Swee","text":"Swee","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/319078910","repostId":"1148522524","repostType":4,"isVote":1,"tweetType":1,"viewCount":216,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":310777352,"gmtCreate":1611392552776,"gmtModify":1703750353681,"author":{"id":"3574383960851394","authorId":"3574383960851394","name":"JYP","avatar":"https://static.tigerbbs.com/a0df3eb8c19e40b06b9a7b5d13f276c1","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574383960851394","idStr":"3574383960851394"},"themes":[],"htmlText":"Too much incumbent for ICE to transform fast enough&nbsp;","listText":"Too much incumbent for ICE to transform fast enough&nbsp;","text":"Too much incumbent for ICE to transform fast enough","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/310777352","repostId":"1137880687","repostType":4,"repost":{"id":"1137880687","pubTimestamp":1611299825,"share":"https://www.laohu8.com/m/news/1137880687?lang=&edition=full","pubTime":"2021-01-22 15:17","market":"us","language":"en","title":"What Could Happen To Tesla Stock In A Merger With General Motors","url":"https://stock-news.laohu8.com/highlight/detail?id=1137880687","media":"seekingalpha","summary":"Summary\n\nTesla has demonstrated a remarkable capacity to raise capital based on widespread investor ","content":"<p><b>Summary</b></p>\n<ul>\n <li>Tesla has demonstrated a remarkable capacity to raise capital based on widespread investor conviction that electric-powered vehicles (EVs) will overtake and replace internal combustion engines.</li>\n</ul>\n<ul>\n <li>GM post-bankrutpcy has proven its financial sustainability and is dedicated, like Tesla, to an electrified future.</li>\n</ul>\n<ul>\n <li>The strengths and weaknesses of the two automakers are complementary, arguing for a combination that would be a win for shareholders, employees, and governments with policies aimed toward electrified mobility.</li>\n</ul>\n<p>Shortly after the New Year, Blackstone’s Byron Wien and Joe Zidle issued their list of Ten Surprises for 2021, predictions they say will have a better than 50% likelihood of happening, even though most investors don’t think so. The pair threw in a few “also rans” that didn’t quite make the top ten surprises, among them<i>the prediction that Tesla will buy a major automaker</i>.</p>\n<p>Whether Tesla Inc.’s(NASDAQ:TSLA)CEO Elon Musk would entertain such a move is questionable, as are any predictions relating to the preternaturally unpredictable leader. I guess the idea has to have crossed his mind, since it makes a lot of sense as a strategy to - please forgive the expression – turbocharge growth and is achievable, given his company’s market capitalization of about $783 billion. Should he be considering a major automotive acquisition, the most logical candidate for several reasons is General Motors Co.(NYSE:GM).</p>\n<p>He might be considering a non-automotive acquisition, a software or chip manufacturer for example, which would make sense for a maker of increasingly electrified vehicles. The point is that Tesla's immense market capitalization makes it a potential acquirer of all but a few companies.</p>\n<p>What could happen to Tesla's share price in the event of a merger proposal with GM or any other automaker is an important factor for investors to consider. Some Tesla owners no doubt would consider a GM merger a betrayal of Tesla's (and Musk's) electric-only approach to mobility. Skeptics might blanch at the notion of infecting Tesla's nimble (and sometimes incautious) tech culture with GM's slower and risk-averse tendencies. The forces that have propelled Tesla stock skyward could suddenly be turned on their head.</p>\n<p>GM likely would spurn a Tesla proposal to merge, as it has in the past with the Nissan Renault alliance and others. Whether GM could resist Tesla, assuming the latter’s interest was determined, is problematic. The GM board would be legally bound to consider the opportunity to trade GM shares for Tesla at a premium. Such a combination would prove quite attractive to holders of GM stock, which – even considering the latest run-up in its price – isn’t paying a dividend and has managed only 46% since going public in 2010 following bankruptcy reorganization.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/161e940f1ed5288bad479f820e2207ef\" tg-width=\"1777\" tg-height=\"708\"><span>GM stock since 2010 vs SPY and DJIA Source: Yahoo Finance</span></p>\n<p><b>Both sides potentially benefit</b></p>\n<p>A practical combination of the two companies isn’t too hard to visualize, though their histories and profiles are dissimilar:</p>\n<ul>\n <li>Tesla a Silicon Valley startup barely twenty years old and GM a century-old incumbent;</li>\n <li>Tesla the fake-it-till-you-make-it, software-heavy enemy of fossil fuels; GM, an engineering and manufacturing giant that depends on sales of gas-consuming pickup trucks and SUVs while pivoting recently toward an all-EV future;</li>\n <li>Tesla, which distributes vehicles directly to consumers without spending a penny on advertising; GM, which maintains a network of franchised dealers and spent roughly $3 billion in advertising in 2019, according to Statista.</li>\n <li>Finally, non-union Tesla in contrast to GM, whose relationship with the United Auto Workers has been marked by conflict – a 40-day strike in 2019 that cost the company $4 billion the latest example.</li>\n</ul>\n<p>Yet GM has assets that could pay off immediately for Tesla, notably a worldwide manufacturing and components infrastructure capable of building upwards of 8 million vehicles a year. GM can be fairly criticized for its slowness to recognize consumer trends and its mediocre marketing initiatives – but no one can fault GM for its expertise in high-quality, swift mass manufacture of vehicles. By merging GM into its operations, Tesla would instantly acquire some of the best factories in the world and a production capacity that could immediately vault it to the front rank of global automakers. GM’s new Ultium battery venture with South Korea’s LG Chem is about to supply the power source for 20 new GM EVs through 2025. A strategic review would sort out which vehicles would be sold as Teslas, which as Chevrolets – and perhaps which GM brands might be phased out.</p>\n<p>GM’s highly profitable gasoline-powered trucks and SUVs, and the enormous cash flow they generate, will be around for a long time. Musk may be an enemy of fossil fuels; his practical financial side would tell him that until EV pickups prove popular to everyday consumers as well as to carpenters and ranchers, Chevrolet Silverado and GMC Sierra and their SUV counterparts will maintain their status as key products. But perhaps a new luxury division could emerge combining future Cadillac EVs with the high-end Teslas like the Model S that have proven to be status symbols among affluent consumers but are now outdated.</p>\n<p>Undeniably, Tesla has evolved into an exceptionally powerful global brand. A decade ago, I was among the naysayers who believed that the company eventually was likely to fail or to be snapped up by a larger competitor. I’ve moved to neutral: Over the past ten years, Musk has proven a remarkably influential figure in high tech, able to command the allegiance of investors and customers in the same way that the late Steve Jobs and Bill Gates did in their time. Yes, he’s missed many of his stated forecasts for the number of vehicles he will build and sell; and, yes, some of his shenanigans with regard to social media and infractions of securities regulations have raised legitimate worries about his stability. Yet what Tesla has managed to achieve – more than one million EVs built and sold through March of 2020 – stands as a testament to corporate tenacity as well as a harbinger of EVs growing role in mobility.</p>\n<p>Tesla operates an antiquated former GM assembly plant in Fremont, California and a new assembly plant in Shanghai, with another under construction in Berlin and one planned for Austin, Texas.</p>\n<p><b>EVs are a game of capital</b></p>\n<p>Tesla’s extraordinary ability to raise capital hasn’t gone unnoticed at GM headquarters, which has taken steps toward adopting the smaller rival’s EV strategy as its own. In 2017, CEO Mary Barra unveiled the three zeros: “zero crashes, zero emissions, zero congestion,” a slogan signaling GM’s shift toward EVs as well as to autonomous driving. It was a signal that GM recognized the world was heading toward a future for mobility that Tesla – and others, like Google(NASDAQ:GOOG)(NASDAQ:GOOGL)- were helping to define. The No. 1 automaker in the U.S., in terms of sales, also realizes that its identity and legacy are no longer the advantage that they once were. A few weeks ago, GM unveiled a new corporate logo, meant to resonate with younger, more connected audience. GM’s Cruise autonomous driving unit has maintained distance from the majority-owning parent corporation, taking up residence in San Francisco and seeking capital investment from outside GM. Equity analysts have wondered aloud whether GM is considering a spinoff of Cruise, a possibility that Barra hasn’t ruled out.</p>\n<p><b>GM is no basket case</b></p>\n<p>While GM engineers work to develop better, cheaper, smaller batteries to make EV more practical for mainstream buyers, the ability to raise massive amounts of capital give Tesla one sizable advantage over its larger rival: staying power. The reason for GM’s recent rise in stock price, after a long decade in the doldrums, may have to do with the automaker’s having proved it was able to withstand 2020’s 12% drop in U.S. vehicle sales, brought on by the pandemic, without heavy additional borrowing. Following bankruptcy, some equity analysts said GM must prove it could weather a sales downturn without suffering a credit crisis.</p>\n<p>Another possible reason for interest in GM stock is the realization that the automaker is making a $27 billion bet on EVs that could pay off if the mass market quickly adopts the technology.</p>\n<p>A merger with GM would bring less obvious benefits to Tesla: A worldwide dealer network that would be only too pleased to service Tesla vehicles as they develop their own electrification tools and know-how. Also: OnStar, GM’s over-the-air safety and convenience feature. GM’s parts depots, supply network and supplier relationships.</p>\n<p>The tie-up of these two companies under the Tesla corporate umbrella, with GM advancing toward an electrified, self-driving future, could be a formidable powerhouse rewarding shareholders, customers, dealers and the global policymakers that are encouraging and dictating the curtailment of fossil fuels.</p>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What Could Happen To Tesla Stock In A Merger With General Motors</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat Could Happen To Tesla Stock In A Merger With General Motors\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-01-22 15:17 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4400304-what-happen-to-tesla-stock-in-merger-general-motors><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nTesla has demonstrated a remarkable capacity to raise capital based on widespread investor conviction that electric-powered vehicles (EVs) will overtake and replace internal combustion ...</p>\n\n<a href=\"https://seekingalpha.com/article/4400304-what-happen-to-tesla-stock-in-merger-general-motors\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","GM":"通用汽车"},"source_url":"https://seekingalpha.com/article/4400304-what-happen-to-tesla-stock-in-merger-general-motors","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1137880687","content_text":"Summary\n\nTesla has demonstrated a remarkable capacity to raise capital based on widespread investor conviction that electric-powered vehicles (EVs) will overtake and replace internal combustion engines.\n\n\nGM post-bankrutpcy has proven its financial sustainability and is dedicated, like Tesla, to an electrified future.\n\n\nThe strengths and weaknesses of the two automakers are complementary, arguing for a combination that would be a win for shareholders, employees, and governments with policies aimed toward electrified mobility.\n\nShortly after the New Year, Blackstone’s Byron Wien and Joe Zidle issued their list of Ten Surprises for 2021, predictions they say will have a better than 50% likelihood of happening, even though most investors don’t think so. The pair threw in a few “also rans” that didn’t quite make the top ten surprises, among themthe prediction that Tesla will buy a major automaker.\nWhether Tesla Inc.’s(NASDAQ:TSLA)CEO Elon Musk would entertain such a move is questionable, as are any predictions relating to the preternaturally unpredictable leader. I guess the idea has to have crossed his mind, since it makes a lot of sense as a strategy to - please forgive the expression – turbocharge growth and is achievable, given his company’s market capitalization of about $783 billion. Should he be considering a major automotive acquisition, the most logical candidate for several reasons is General Motors Co.(NYSE:GM).\nHe might be considering a non-automotive acquisition, a software or chip manufacturer for example, which would make sense for a maker of increasingly electrified vehicles. The point is that Tesla's immense market capitalization makes it a potential acquirer of all but a few companies.\nWhat could happen to Tesla's share price in the event of a merger proposal with GM or any other automaker is an important factor for investors to consider. Some Tesla owners no doubt would consider a GM merger a betrayal of Tesla's (and Musk's) electric-only approach to mobility. Skeptics might blanch at the notion of infecting Tesla's nimble (and sometimes incautious) tech culture with GM's slower and risk-averse tendencies. The forces that have propelled Tesla stock skyward could suddenly be turned on their head.\nGM likely would spurn a Tesla proposal to merge, as it has in the past with the Nissan Renault alliance and others. Whether GM could resist Tesla, assuming the latter’s interest was determined, is problematic. The GM board would be legally bound to consider the opportunity to trade GM shares for Tesla at a premium. Such a combination would prove quite attractive to holders of GM stock, which – even considering the latest run-up in its price – isn’t paying a dividend and has managed only 46% since going public in 2010 following bankruptcy reorganization.\nGM stock since 2010 vs SPY and DJIA Source: Yahoo Finance\nBoth sides potentially benefit\nA practical combination of the two companies isn’t too hard to visualize, though their histories and profiles are dissimilar:\n\nTesla a Silicon Valley startup barely twenty years old and GM a century-old incumbent;\nTesla the fake-it-till-you-make-it, software-heavy enemy of fossil fuels; GM, an engineering and manufacturing giant that depends on sales of gas-consuming pickup trucks and SUVs while pivoting recently toward an all-EV future;\nTesla, which distributes vehicles directly to consumers without spending a penny on advertising; GM, which maintains a network of franchised dealers and spent roughly $3 billion in advertising in 2019, according to Statista.\nFinally, non-union Tesla in contrast to GM, whose relationship with the United Auto Workers has been marked by conflict – a 40-day strike in 2019 that cost the company $4 billion the latest example.\n\nYet GM has assets that could pay off immediately for Tesla, notably a worldwide manufacturing and components infrastructure capable of building upwards of 8 million vehicles a year. GM can be fairly criticized for its slowness to recognize consumer trends and its mediocre marketing initiatives – but no one can fault GM for its expertise in high-quality, swift mass manufacture of vehicles. By merging GM into its operations, Tesla would instantly acquire some of the best factories in the world and a production capacity that could immediately vault it to the front rank of global automakers. GM’s new Ultium battery venture with South Korea’s LG Chem is about to supply the power source for 20 new GM EVs through 2025. A strategic review would sort out which vehicles would be sold as Teslas, which as Chevrolets – and perhaps which GM brands might be phased out.\nGM’s highly profitable gasoline-powered trucks and SUVs, and the enormous cash flow they generate, will be around for a long time. Musk may be an enemy of fossil fuels; his practical financial side would tell him that until EV pickups prove popular to everyday consumers as well as to carpenters and ranchers, Chevrolet Silverado and GMC Sierra and their SUV counterparts will maintain their status as key products. But perhaps a new luxury division could emerge combining future Cadillac EVs with the high-end Teslas like the Model S that have proven to be status symbols among affluent consumers but are now outdated.\nUndeniably, Tesla has evolved into an exceptionally powerful global brand. A decade ago, I was among the naysayers who believed that the company eventually was likely to fail or to be snapped up by a larger competitor. I’ve moved to neutral: Over the past ten years, Musk has proven a remarkably influential figure in high tech, able to command the allegiance of investors and customers in the same way that the late Steve Jobs and Bill Gates did in their time. Yes, he’s missed many of his stated forecasts for the number of vehicles he will build and sell; and, yes, some of his shenanigans with regard to social media and infractions of securities regulations have raised legitimate worries about his stability. Yet what Tesla has managed to achieve – more than one million EVs built and sold through March of 2020 – stands as a testament to corporate tenacity as well as a harbinger of EVs growing role in mobility.\nTesla operates an antiquated former GM assembly plant in Fremont, California and a new assembly plant in Shanghai, with another under construction in Berlin and one planned for Austin, Texas.\nEVs are a game of capital\nTesla’s extraordinary ability to raise capital hasn’t gone unnoticed at GM headquarters, which has taken steps toward adopting the smaller rival’s EV strategy as its own. In 2017, CEO Mary Barra unveiled the three zeros: “zero crashes, zero emissions, zero congestion,” a slogan signaling GM’s shift toward EVs as well as to autonomous driving. It was a signal that GM recognized the world was heading toward a future for mobility that Tesla – and others, like Google(NASDAQ:GOOG)(NASDAQ:GOOGL)- were helping to define. The No. 1 automaker in the U.S., in terms of sales, also realizes that its identity and legacy are no longer the advantage that they once were. A few weeks ago, GM unveiled a new corporate logo, meant to resonate with younger, more connected audience. GM’s Cruise autonomous driving unit has maintained distance from the majority-owning parent corporation, taking up residence in San Francisco and seeking capital investment from outside GM. Equity analysts have wondered aloud whether GM is considering a spinoff of Cruise, a possibility that Barra hasn’t ruled out.\nGM is no basket case\nWhile GM engineers work to develop better, cheaper, smaller batteries to make EV more practical for mainstream buyers, the ability to raise massive amounts of capital give Tesla one sizable advantage over its larger rival: staying power. The reason for GM’s recent rise in stock price, after a long decade in the doldrums, may have to do with the automaker’s having proved it was able to withstand 2020’s 12% drop in U.S. vehicle sales, brought on by the pandemic, without heavy additional borrowing. Following bankruptcy, some equity analysts said GM must prove it could weather a sales downturn without suffering a credit crisis.\nAnother possible reason for interest in GM stock is the realization that the automaker is making a $27 billion bet on EVs that could pay off if the mass market quickly adopts the technology.\nA merger with GM would bring less obvious benefits to Tesla: A worldwide dealer network that would be only too pleased to service Tesla vehicles as they develop their own electrification tools and know-how. Also: OnStar, GM’s over-the-air safety and convenience feature. GM’s parts depots, supply network and supplier relationships.\nThe tie-up of these two companies under the Tesla corporate umbrella, with GM advancing toward an electrified, self-driving future, could be a formidable powerhouse rewarding shareholders, customers, dealers and the global policymakers that are encouraging and dictating the curtailment of fossil fuels.","news_type":1},"isVote":1,"tweetType":1,"viewCount":224,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":310774603,"gmtCreate":1611392391102,"gmtModify":1703750352942,"author":{"id":"3574383960851394","authorId":"3574383960851394","name":"JYP","avatar":"https://static.tigerbbs.com/a0df3eb8c19e40b06b9a7b5d13f276c1","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574383960851394","idStr":"3574383960851394"},"themes":[],"htmlText":"Huat","listText":"Huat","text":"Huat","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/310774603","repostId":"1174259748","repostType":4,"repost":{"id":"1174259748","pubTimestamp":1611305634,"share":"https://www.laohu8.com/m/news/1174259748?lang=&edition=full","pubTime":"2021-01-22 16:53","market":"us","language":"en","title":"Bitcoin's skid rings alarm bells as money manager says retreat to $20,000 ahead","url":"https://stock-news.laohu8.com/highlight/detail?id=1174259748","media":"MarketWatch","summary":"Bitcoin prices are sliding again Thursday, and the decline may be triggering some short-term bearish","content":"<p>Bitcoin prices are sliding again Thursday, and the decline may be triggering some short-term bearish alarm bells with the asset already technically in a bear-market after seeing record highs earlier in January.</p>\n<p>Values for the world’s most prominent cryptocurrency were off by over 10% around Thursday’s lows at about $31,000, with the crypto having shed 12% over the week, according to FactSet data.</p>\n<p>A single bitcoinBTCUSD,-0.79%trading on CoinDesk was valued at $32,357, off 7.5%, at last check.</p>\n<p><img src=\"https://static.tigerbbs.com/303fbb02ad903ca4f528e1788590c07e\" tg-width=\"959\" tg-height=\"678\"></p>\n<p>But investors were keying in on recent comments made by financial market participants, which may also be helping to knock prices around.</p>\n<p>Indeed, Guggenheim Partners Chief Investment Officer Scott Minerd, a recent proselyte from traditional Wall Street instruments to cryptos,told CNBC on Wednesdaythat he believed bitcoins may stage a retreat back to $20,000, after reaching a record peak at $41,962.36 on Jan. 7, according to CoinDesk.</p>\n<p>“For the time being, we have probably put in a top for bitcoin for the next year or so,” Minerd told the business network.</p>\n<p>Minerd also told Bloomberg News, weeks ago, that his price outlook for bitcoin was $400,000.</p>\n<p>Since its recent peak, bitcoin has retreated by at least 20%, meeting the commonly accepted definition for a bear market in an asset.</p>\n<p>The slump in bitcoins also has taken it below a near-term moving average, the 20-day exponential moving average, or EMA, at $32,544, according to FactSet data.</p>\n<p>EMAs, like simple moving averages, are sometimes used by technical analysts to gauge short-term bearish and bullish trends in asset, and can be useful for bitcoins which are prone to powerful swings in a daily basis.</p>\n<p>Hodlers—a popular misspelling of the word “hold” or “holders” in the crypto community—tend not to focus on the short-term moves in cryptos and hold the asset long term. And it is often difficult to peg a specific move in virtual assets to any related news item.</p>\n<p>However, markets have been processing the dramatic moves by virtual assets in recent weeks and months as well as assessing the prospects for bitcoins and other assets in the Biden administration.</p>\n<p>Earlier in the week, Janet Yellen, the President Biden’s nominee for U.S. Treasury Secretary, said she would consider curtailing digital assets, saying that she feared its use for money laundering and other malfeasance.</p>\n<p>On top of that, some advocates worry that Gary Gensler, a former head of the Commodity Futures Trading Commission and a professor of cryptocurrencies at Massachusetts Institute of Technology,may scrutinize bitcoinregulation, as Biden’s pick for Chairman of the Securities and Exchange Commission.</p>\n<p>Still, a number of investors often view bitcoin’s pullbacks as opportunities to increase their stakes in the speculative market, which is often described as one that reflects many of thecharacteristics of an asset bubble.</p>\n<p>Minerd’s Guggenheim is one among a number of institutional investors who have taken notice of bitcoin’s price rally and have sought to gain exposure to the blockchain-backed asset.</p>\n<p>Most recently, public filingsrevealed that BlackRock, the world’s largest money manager, is set to dip its toes into the world of cryptoassets and buy bitcoin futures.</p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bitcoin's skid rings alarm bells as money manager says retreat to $20,000 ahead</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBitcoin's skid rings alarm bells as money manager says retreat to $20,000 ahead\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-01-22 16:53 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/bitcoins-skid-rings-alarm-bells-as-money-manager-says-retreat-to-20-000-ahead-11611260058?mod=hp_LATEST&adobe_mc=MCMID%3D03250748340802259633376614514522268876%7CMCORGID%3DCB68E4BA55144CAA0A4C98A5%2540AdobeOrg%7CTS%3D1611304500><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Bitcoin prices are sliding again Thursday, and the decline may be triggering some short-term bearish alarm bells with the asset already technically in a bear-market after seeing record highs earlier ...</p>\n\n<a href=\"https://www.marketwatch.com/story/bitcoins-skid-rings-alarm-bells-as-money-manager-says-retreat-to-20-000-ahead-11611260058?mod=hp_LATEST&adobe_mc=MCMID%3D03250748340802259633376614514522268876%7CMCORGID%3DCB68E4BA55144CAA0A4C98A5%2540AdobeOrg%7CTS%3D1611304500\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"source_url":"https://www.marketwatch.com/story/bitcoins-skid-rings-alarm-bells-as-money-manager-says-retreat-to-20-000-ahead-11611260058?mod=hp_LATEST&adobe_mc=MCMID%3D03250748340802259633376614514522268876%7CMCORGID%3DCB68E4BA55144CAA0A4C98A5%2540AdobeOrg%7CTS%3D1611304500","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1174259748","content_text":"Bitcoin prices are sliding again Thursday, and the decline may be triggering some short-term bearish alarm bells with the asset already technically in a bear-market after seeing record highs earlier in January.\nValues for the world’s most prominent cryptocurrency were off by over 10% around Thursday’s lows at about $31,000, with the crypto having shed 12% over the week, according to FactSet data.\nA single bitcoinBTCUSD,-0.79%trading on CoinDesk was valued at $32,357, off 7.5%, at last check.\n\nBut investors were keying in on recent comments made by financial market participants, which may also be helping to knock prices around.\nIndeed, Guggenheim Partners Chief Investment Officer Scott Minerd, a recent proselyte from traditional Wall Street instruments to cryptos,told CNBC on Wednesdaythat he believed bitcoins may stage a retreat back to $20,000, after reaching a record peak at $41,962.36 on Jan. 7, according to CoinDesk.\n“For the time being, we have probably put in a top for bitcoin for the next year or so,” Minerd told the business network.\nMinerd also told Bloomberg News, weeks ago, that his price outlook for bitcoin was $400,000.\nSince its recent peak, bitcoin has retreated by at least 20%, meeting the commonly accepted definition for a bear market in an asset.\nThe slump in bitcoins also has taken it below a near-term moving average, the 20-day exponential moving average, or EMA, at $32,544, according to FactSet data.\nEMAs, like simple moving averages, are sometimes used by technical analysts to gauge short-term bearish and bullish trends in asset, and can be useful for bitcoins which are prone to powerful swings in a daily basis.\nHodlers—a popular misspelling of the word “hold” or “holders” in the crypto community—tend not to focus on the short-term moves in cryptos and hold the asset long term. And it is often difficult to peg a specific move in virtual assets to any related news item.\nHowever, markets have been processing the dramatic moves by virtual assets in recent weeks and months as well as assessing the prospects for bitcoins and other assets in the Biden administration.\nEarlier in the week, Janet Yellen, the President Biden’s nominee for U.S. Treasury Secretary, said she would consider curtailing digital assets, saying that she feared its use for money laundering and other malfeasance.\nOn top of that, some advocates worry that Gary Gensler, a former head of the Commodity Futures Trading Commission and a professor of cryptocurrencies at Massachusetts Institute of Technology,may scrutinize bitcoinregulation, as Biden’s pick for Chairman of the Securities and Exchange Commission.\nStill, a number of investors often view bitcoin’s pullbacks as opportunities to increase their stakes in the speculative market, which is often described as one that reflects many of thecharacteristics of an asset bubble.\nMinerd’s Guggenheim is one among a number of institutional investors who have taken notice of bitcoin’s price rally and have sought to gain exposure to the blockchain-backed asset.\nMost recently, public filingsrevealed that BlackRock, the world’s largest money manager, is set to dip its toes into the world of cryptoassets and buy bitcoin futures.","news_type":1},"isVote":1,"tweetType":1,"viewCount":759,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":181654877,"gmtCreate":1623392311899,"gmtModify":1634033821116,"author":{"id":"3574383960851394","authorId":"3574383960851394","name":"JYP","avatar":"https://static.tigerbbs.com/a0df3eb8c19e40b06b9a7b5d13f276c1","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574383960851394","authorIdStr":"3574383960851394"},"themes":[],"htmlText":"Interesting","listText":"Interesting","text":"Interesting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/181654877","repostId":"2142279140","repostType":4,"isVote":1,"tweetType":1,"viewCount":79,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":188475686,"gmtCreate":1623460681645,"gmtModify":1634032935571,"author":{"id":"3574383960851394","authorId":"3574383960851394","name":"JYP","avatar":"https://static.tigerbbs.com/a0df3eb8c19e40b06b9a7b5d13f276c1","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574383960851394","authorIdStr":"3574383960851394"},"themes":[],"htmlText":"Interesting","listText":"Interesting","text":"Interesting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/188475686","repostId":"2142520474","repostType":4,"repost":{"id":"2142520474","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1623452760,"share":"https://www.laohu8.com/m/news/2142520474?lang=&edition=full","pubTime":"2021-06-12 07:06","market":"us","language":"en","title":"Is inflation eating up all the interest you're earning on 10-year Treasury notes?","url":"https://stock-news.laohu8.com/highlight/detail?id=2142520474","media":"Dow Jones","summary":"'Part of the point of being invested in bonds is to preserve purchasing power,' says CIO of Osterwei","content":"<blockquote>\n 'Part of the point of being invested in bonds is to preserve purchasing power,' says CIO of Osterweis total return strategy.\n</blockquote>\n<p>Investors may appear to be shrugging off inflation, but concerns persist.</p>\n<p>The 10-year Treasury yieldwas trading at 1.46% Friday , drifting lower despite Thursday's report that the pace of inflation soared for a second month in a row during the economic reopening in the pandemic.</p>\n<p>\"Inflation is significantly higher than the compensation you're receiving from being invested in fixed income,\" said Eddy Vataru, chief investment officer of Osterweis Capital Management's total return strategy, in an interview. \"Part of the point of being invested in bonds is to preserve purchasing power.\"</p>\n<p>Fixed-income investors worry about rising inflation because it erodes the value of their existing bonds . While inflation concerns tend to prompt selling, driving up yields, investors are now weighing whether the latest signs of inflation are transitory or persistent as the economy rebounds.</p>\n<p>\"I would argue that there's a significant part of it that's persistent,\" Vataru said, \"but you won't know that for months.\"</p>\n<p>The decline in 10-year yields doesn't necessarily mean market participants agree with the Fed that inflation is transient, according to Vataru, whose career in fixed-income includes past jobs at hedge fund firm Citadel and asset management giant BlackRock.</p>\n<p>Vataru said short positioning in the Treasury market may partly explain the yield dip after Thursday's report on the consumer-price index showed the cost of living jumped again in May, driving the pace of inflation to a 13-year high of 5%.</p>\n<p>Investors with short positions are betting that prices of Treasuries will fall, pushing up yields, according to Vataru. Bond prices and yields move in opposite directions. If rates don't rise quickly or far enough, these investors may become nervous about losses and exit their bets. Short sellers become buyers when they cover their positions.</p>\n<p>\"A lot of the buying you've seen in the last week or so is probably short covering,\" said Vataru. \"That's part of the reason that when you have a move like this you don't have quite the reaction you otherwise think you would,\" he said of the move down Thursday in the 10-year yield.</p>\n<p>Still, yields would be higher if there was more consensus that inflation is a persistent problem, according to Vataru. He said he worries about signs of wage inflation in particular, as that can be sticky, and believes inflation will be in the 3% to 5% range \"the way we're tracking right now.\"</p>\n<p>But Ellen Gaske, lead economist for G-10 economies at PGIM Fixed Income's global macroeconomic research group, said the yield on the 10-Year Treasury is up from last year and now sits in line with investors' expectations that inflation is transitory.</p>\n<p>\"We already saw the reflation trade,\" she said. \"We already have seen 10-year yields back up, from 50 basis points last summer all the way up to where they are today.\"</p>\n<p>Gaske explained that rates \"quickly reflected\" expectations that \"we would climb out of this crisis.\" She now thinks that by the end of this year the Fed may begin tapering its asset purchases, which along with low interest rates has been part of its accommodative stance.</p>\n<p>Gaske earlier this year \"pulled forward\" her expectations for a rate increase by the Fed to the second half of 2023. Previously, her prediction was for the Fed to raise its benchmark rate in 2024, with the adjustment to her forecast made in the first quarter, because economic momentum appeared strong as COVID-19 vaccinations rolled out.</p>\n<p>Gaske expects spikes in inflation will probably be short-lived, partly because prices are being measured against low levels seen last year, and supply-chain bottlenecks that have emerged in the rebound in demand will be worked out. But she said the acceleration of rent-related inflation caught her eye in the latest CPI reading, adding it's an area she'll be watching closely for potentially persistent higher costs.</p>\n<p>\"I think the Fed itself is kind of in a pickle,\" said Vataru, as any new characterization by the central bank of inflation as persistent would probably lead to higher rates that would dampen the recovery.</p>\n<p>\"They almost have to say that it is transitory to kind of keep this going,\" he said.</p>\n<p>Meanwhile, the Fed's massive quantitative easing program, or QE, is helping to \"stoke the fire\" despite no structural issues that point to the U.S. sitting in recession for years to come, according to Vataru. The U.S. isn't dealing with the same \"big debacle\" faced in the throes of the 2008 financial crisis, he said, yet monetary and fiscal stimulus continue with stocks near record highs and vaccine rollouts leading to fewer COVID cases domestically and abroad.</p>\n<p>\"It's a dangerous potion to have a policy that, in my mind, is really inflationary and then dismiss whatever inflation that comes through the system as transitory,\" Vataru said.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Is inflation eating up all the interest you're earning on 10-year Treasury notes?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIs inflation eating up all the interest you're earning on 10-year Treasury notes?\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2021-06-12 07:06</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<blockquote>\n 'Part of the point of being invested in bonds is to preserve purchasing power,' says CIO of Osterweis total return strategy.\n</blockquote>\n<p>Investors may appear to be shrugging off inflation, but concerns persist.</p>\n<p>The 10-year Treasury yieldwas trading at 1.46% Friday , drifting lower despite Thursday's report that the pace of inflation soared for a second month in a row during the economic reopening in the pandemic.</p>\n<p>\"Inflation is significantly higher than the compensation you're receiving from being invested in fixed income,\" said Eddy Vataru, chief investment officer of Osterweis Capital Management's total return strategy, in an interview. \"Part of the point of being invested in bonds is to preserve purchasing power.\"</p>\n<p>Fixed-income investors worry about rising inflation because it erodes the value of their existing bonds . While inflation concerns tend to prompt selling, driving up yields, investors are now weighing whether the latest signs of inflation are transitory or persistent as the economy rebounds.</p>\n<p>\"I would argue that there's a significant part of it that's persistent,\" Vataru said, \"but you won't know that for months.\"</p>\n<p>The decline in 10-year yields doesn't necessarily mean market participants agree with the Fed that inflation is transient, according to Vataru, whose career in fixed-income includes past jobs at hedge fund firm Citadel and asset management giant BlackRock.</p>\n<p>Vataru said short positioning in the Treasury market may partly explain the yield dip after Thursday's report on the consumer-price index showed the cost of living jumped again in May, driving the pace of inflation to a 13-year high of 5%.</p>\n<p>Investors with short positions are betting that prices of Treasuries will fall, pushing up yields, according to Vataru. Bond prices and yields move in opposite directions. If rates don't rise quickly or far enough, these investors may become nervous about losses and exit their bets. Short sellers become buyers when they cover their positions.</p>\n<p>\"A lot of the buying you've seen in the last week or so is probably short covering,\" said Vataru. \"That's part of the reason that when you have a move like this you don't have quite the reaction you otherwise think you would,\" he said of the move down Thursday in the 10-year yield.</p>\n<p>Still, yields would be higher if there was more consensus that inflation is a persistent problem, according to Vataru. He said he worries about signs of wage inflation in particular, as that can be sticky, and believes inflation will be in the 3% to 5% range \"the way we're tracking right now.\"</p>\n<p>But Ellen Gaske, lead economist for G-10 economies at PGIM Fixed Income's global macroeconomic research group, said the yield on the 10-Year Treasury is up from last year and now sits in line with investors' expectations that inflation is transitory.</p>\n<p>\"We already saw the reflation trade,\" she said. \"We already have seen 10-year yields back up, from 50 basis points last summer all the way up to where they are today.\"</p>\n<p>Gaske explained that rates \"quickly reflected\" expectations that \"we would climb out of this crisis.\" She now thinks that by the end of this year the Fed may begin tapering its asset purchases, which along with low interest rates has been part of its accommodative stance.</p>\n<p>Gaske earlier this year \"pulled forward\" her expectations for a rate increase by the Fed to the second half of 2023. Previously, her prediction was for the Fed to raise its benchmark rate in 2024, with the adjustment to her forecast made in the first quarter, because economic momentum appeared strong as COVID-19 vaccinations rolled out.</p>\n<p>Gaske expects spikes in inflation will probably be short-lived, partly because prices are being measured against low levels seen last year, and supply-chain bottlenecks that have emerged in the rebound in demand will be worked out. But she said the acceleration of rent-related inflation caught her eye in the latest CPI reading, adding it's an area she'll be watching closely for potentially persistent higher costs.</p>\n<p>\"I think the Fed itself is kind of in a pickle,\" said Vataru, as any new characterization by the central bank of inflation as persistent would probably lead to higher rates that would dampen the recovery.</p>\n<p>\"They almost have to say that it is transitory to kind of keep this going,\" he said.</p>\n<p>Meanwhile, the Fed's massive quantitative easing program, or QE, is helping to \"stoke the fire\" despite no structural issues that point to the U.S. sitting in recession for years to come, according to Vataru. The U.S. isn't dealing with the same \"big debacle\" faced in the throes of the 2008 financial crisis, he said, yet monetary and fiscal stimulus continue with stocks near record highs and vaccine rollouts leading to fewer COVID cases domestically and abroad.</p>\n<p>\"It's a dangerous potion to have a policy that, in my mind, is really inflationary and then dismiss whatever inflation that comes through the system as transitory,\" Vataru said.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2142520474","content_text":"'Part of the point of being invested in bonds is to preserve purchasing power,' says CIO of Osterweis total return strategy.\n\nInvestors may appear to be shrugging off inflation, but concerns persist.\nThe 10-year Treasury yieldwas trading at 1.46% Friday , drifting lower despite Thursday's report that the pace of inflation soared for a second month in a row during the economic reopening in the pandemic.\n\"Inflation is significantly higher than the compensation you're receiving from being invested in fixed income,\" said Eddy Vataru, chief investment officer of Osterweis Capital Management's total return strategy, in an interview. \"Part of the point of being invested in bonds is to preserve purchasing power.\"\nFixed-income investors worry about rising inflation because it erodes the value of their existing bonds . While inflation concerns tend to prompt selling, driving up yields, investors are now weighing whether the latest signs of inflation are transitory or persistent as the economy rebounds.\n\"I would argue that there's a significant part of it that's persistent,\" Vataru said, \"but you won't know that for months.\"\nThe decline in 10-year yields doesn't necessarily mean market participants agree with the Fed that inflation is transient, according to Vataru, whose career in fixed-income includes past jobs at hedge fund firm Citadel and asset management giant BlackRock.\nVataru said short positioning in the Treasury market may partly explain the yield dip after Thursday's report on the consumer-price index showed the cost of living jumped again in May, driving the pace of inflation to a 13-year high of 5%.\nInvestors with short positions are betting that prices of Treasuries will fall, pushing up yields, according to Vataru. Bond prices and yields move in opposite directions. If rates don't rise quickly or far enough, these investors may become nervous about losses and exit their bets. Short sellers become buyers when they cover their positions.\n\"A lot of the buying you've seen in the last week or so is probably short covering,\" said Vataru. \"That's part of the reason that when you have a move like this you don't have quite the reaction you otherwise think you would,\" he said of the move down Thursday in the 10-year yield.\nStill, yields would be higher if there was more consensus that inflation is a persistent problem, according to Vataru. He said he worries about signs of wage inflation in particular, as that can be sticky, and believes inflation will be in the 3% to 5% range \"the way we're tracking right now.\"\nBut Ellen Gaske, lead economist for G-10 economies at PGIM Fixed Income's global macroeconomic research group, said the yield on the 10-Year Treasury is up from last year and now sits in line with investors' expectations that inflation is transitory.\n\"We already saw the reflation trade,\" she said. \"We already have seen 10-year yields back up, from 50 basis points last summer all the way up to where they are today.\"\nGaske explained that rates \"quickly reflected\" expectations that \"we would climb out of this crisis.\" She now thinks that by the end of this year the Fed may begin tapering its asset purchases, which along with low interest rates has been part of its accommodative stance.\nGaske earlier this year \"pulled forward\" her expectations for a rate increase by the Fed to the second half of 2023. Previously, her prediction was for the Fed to raise its benchmark rate in 2024, with the adjustment to her forecast made in the first quarter, because economic momentum appeared strong as COVID-19 vaccinations rolled out.\nGaske expects spikes in inflation will probably be short-lived, partly because prices are being measured against low levels seen last year, and supply-chain bottlenecks that have emerged in the rebound in demand will be worked out. But she said the acceleration of rent-related inflation caught her eye in the latest CPI reading, adding it's an area she'll be watching closely for potentially persistent higher costs.\n\"I think the Fed itself is kind of in a pickle,\" said Vataru, as any new characterization by the central bank of inflation as persistent would probably lead to higher rates that would dampen the recovery.\n\"They almost have to say that it is transitory to kind of keep this going,\" he said.\nMeanwhile, the Fed's massive quantitative easing program, or QE, is helping to \"stoke the fire\" despite no structural issues that point to the U.S. sitting in recession for years to come, according to Vataru. The U.S. isn't dealing with the same \"big debacle\" faced in the throes of the 2008 financial crisis, he said, yet monetary and fiscal stimulus continue with stocks near record highs and vaccine rollouts leading to fewer COVID cases domestically and abroad.\n\"It's a dangerous potion to have a policy that, in my mind, is really inflationary and then dismiss whatever inflation that comes through the system as transitory,\" Vataru said.","news_type":1},"isVote":1,"tweetType":1,"viewCount":141,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":182837614,"gmtCreate":1623561866638,"gmtModify":1634031646500,"author":{"id":"3574383960851394","authorId":"3574383960851394","name":"JYP","avatar":"https://static.tigerbbs.com/a0df3eb8c19e40b06b9a7b5d13f276c1","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574383960851394","authorIdStr":"3574383960851394"},"themes":[],"htmlText":"Crypto","listText":"Crypto","text":"Crypto","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/182837614","repostId":"2143788705","repostType":4,"isVote":1,"tweetType":1,"viewCount":187,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":319342746,"gmtCreate":1611542640785,"gmtModify":1703750753691,"author":{"id":"3574383960851394","authorId":"3574383960851394","name":"JYP","avatar":"https://static.tigerbbs.com/a0df3eb8c19e40b06b9a7b5d13f276c1","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574383960851394","authorIdStr":"3574383960851394"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/319342746","repostId":"2106419376","repostType":4,"isVote":1,"tweetType":1,"viewCount":143,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":319078910,"gmtCreate":1611454616430,"gmtModify":1703750489105,"author":{"id":"3574383960851394","authorId":"3574383960851394","name":"JYP","avatar":"https://static.tigerbbs.com/a0df3eb8c19e40b06b9a7b5d13f276c1","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574383960851394","authorIdStr":"3574383960851394"},"themes":[],"htmlText":"Swee","listText":"Swee","text":"Swee","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/319078910","repostId":"1148522524","repostType":4,"repost":{"id":"1148522524","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1611303309,"share":"https://www.laohu8.com/m/news/1148522524?lang=&edition=full","pubTime":"2021-01-22 16:15","market":"sh","language":"en","title":"Stock bubble worries push Chinese investors from home to Hong Kong","url":"https://stock-news.laohu8.com/highlight/detail?id=1148522524","media":"Reuters","summary":"As China’s blue-chip index approaches an all-time high, growing fears about bubbles developing in so","content":"<p>As China’s blue-chip index approaches an all-time high, growing fears about bubbles developing in some parts of the country’s stock market are prodding some investors to seek bargains in Hong Kong.</p>\n<p>Retail investors have poured money into stocks via mutual funds, pushing valuations in sectors such as consumer, healthcare and new energy to multi-year or even record levels.</p>\n<p>For instance, the CSI new energy index has climbed 15% so far this year, after more than doubling in 2020, thanks in part to China’s carbon neutrality pledge.</p>\n<p>(Graphic: China's new energy, healthcare and consumer stocks lead gains as the country's blue--chip index nears a record high, ) (Graphic: Valuations of China's stock market darlings surge, )</p>\n<p><img src=\"https://static.tigerbbs.com/779d6f70637a4ac561d4c9c76ff8bf6f\" tg-width=\"1530\" tg-height=\"758\"><img src=\"https://static.tigerbbs.com/d5cd7f254e3f8b8a2d412906694f2e33\" tg-width=\"616\" tg-height=\"462\"></p>\n<p>“There are big bubbles in consumer, health care and liquor stocks, with valuations of some of these shares exceeding their previous record highs,” said Dong Baozhen, chairman of Beijing-based private securities fund Lingtong Shengtai Investment Management.</p>\n<p>“Their rally has nothing to do with fundamentals now and poses huge risks for investors,” he added.</p>\n<p>In the latest example of retail frenzy, a Chinese mutual fund attracted a record $37 billion worth of investor subscriptions on the first day of sales.</p>\n<p>(Graphic: China's mutual fund industry grows rapidly, )</p>\n<p><img src=\"https://static.tigerbbs.com/8fa2b4cdb731b06797d94af06272d14c\" tg-width=\"863\" tg-height=\"479\"></p>\n<p>The rise in stock prices has been fuelled by foreign and domestic money, as Chinese authorities unleashed massive stimulus to deal with the blow from the COVID-19 pandemic and the country’s economy recovered faster than others.</p>\n<p>As worries increase over frothy valuations, some investors are turning to cheaper Chinese shares listed in Hong Kong, particularly as U.S. exchanges delist these firms and American investors are forced to offload their shares.</p>\n<p>“The (U.S.) bans actually tell people what good assets are in Hong Kong,” said Xia Tian, managing director at Shanghai-based asset management firm Minvest.</p>\n<p>Investor buying via Stock Connect from the mainland to Hong Kong hit a record high of HK$26.6 billion ($3.43 billion) on Tuesday, and the total southbound purchases in the new year hit HK$221.8 billion as of Thursday, according to exchange data.</p>\n<p>The Stock Connect scheme gives investors access to both markets when investing in A-shares in the mainland and H-shares in Hong Kong.</p>\n<p>Morgan Stanley reckons the robust flows into Hong Kong owe to mainland policymakers’ encouragement of outbound investment and an elevated premium of domestic A-shares over the Hong Kong-listed H-shares. Companies’ A-shares listed in China are currently trading at a more than 30% premium over their Hong Kong-listed shares.</p>\n<p>(Graphic: Mainland investors hunt for bargains in Hong Kong, )</p>\n<p><img src=\"https://static.tigerbbs.com/51daf49d9de2b37db2a2b003e3f2b5d1\" tg-width=\"865\" tg-height=\"477\"></p>\n<p><b>JUSTIFIED EXUBERANCE?</b></p>\n<p>The rally in China’s A-share market has also been driven by foreign investment. As of Thursday, foreign investors had purchased a total of 48.7 billion yuan ($7.53 billion) worth of A-shares via the Stock Connect this year, which is already a fifth of what they bought in 2020.</p>\n<p>UBS expects flows of 200 billion yuan into the A-share market in 2021, citing improvement in China’s legal protection for investors, better information disclosure by major shareholders and more capable leading firms in various industries.</p>\n<p>(Graphic: Foreign investors continued to buy A-shares in 2020, )</p>\n<p><img src=\"https://static.tigerbbs.com/d7b559c21ae4cb9bbbda25a57bc7f502\" tg-width=\"884\" tg-height=\"506\"></p>\n<p>Some investors believe the exuberance onshore is justified due to China’s solid economic recovery, continued policy support and further opening up of its capital markets.</p>\n<p>“There is no frothiness in leading large-cap stocks, seen as safer bets as China pushes forward with registration-based IPO reforms in the market,” said Wang Mingli, executive director of Youpu Investment, a Shanghai-based private securities fund.</p>\n<p>“Investors would come back even later if they reduce exposure for now as there are few options out there that represent the country’s future economic development,” he added.</p>\n<p>($1 = 6.4676 Chinese yuan)</p>\n<p>($1 = 7.7517 Hong Kong dollars)</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stock bubble worries push Chinese investors from home to Hong Kong</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStock bubble worries push Chinese investors from home to Hong Kong\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-01-22 16:15</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>As China’s blue-chip index approaches an all-time high, growing fears about bubbles developing in some parts of the country’s stock market are prodding some investors to seek bargains in Hong Kong.</p>\n<p>Retail investors have poured money into stocks via mutual funds, pushing valuations in sectors such as consumer, healthcare and new energy to multi-year or even record levels.</p>\n<p>For instance, the CSI new energy index has climbed 15% so far this year, after more than doubling in 2020, thanks in part to China’s carbon neutrality pledge.</p>\n<p>(Graphic: China's new energy, healthcare and consumer stocks lead gains as the country's blue--chip index nears a record high, ) (Graphic: Valuations of China's stock market darlings surge, )</p>\n<p><img src=\"https://static.tigerbbs.com/779d6f70637a4ac561d4c9c76ff8bf6f\" tg-width=\"1530\" tg-height=\"758\"><img src=\"https://static.tigerbbs.com/d5cd7f254e3f8b8a2d412906694f2e33\" tg-width=\"616\" tg-height=\"462\"></p>\n<p>“There are big bubbles in consumer, health care and liquor stocks, with valuations of some of these shares exceeding their previous record highs,” said Dong Baozhen, chairman of Beijing-based private securities fund Lingtong Shengtai Investment Management.</p>\n<p>“Their rally has nothing to do with fundamentals now and poses huge risks for investors,” he added.</p>\n<p>In the latest example of retail frenzy, a Chinese mutual fund attracted a record $37 billion worth of investor subscriptions on the first day of sales.</p>\n<p>(Graphic: China's mutual fund industry grows rapidly, )</p>\n<p><img src=\"https://static.tigerbbs.com/8fa2b4cdb731b06797d94af06272d14c\" tg-width=\"863\" tg-height=\"479\"></p>\n<p>The rise in stock prices has been fuelled by foreign and domestic money, as Chinese authorities unleashed massive stimulus to deal with the blow from the COVID-19 pandemic and the country’s economy recovered faster than others.</p>\n<p>As worries increase over frothy valuations, some investors are turning to cheaper Chinese shares listed in Hong Kong, particularly as U.S. exchanges delist these firms and American investors are forced to offload their shares.</p>\n<p>“The (U.S.) bans actually tell people what good assets are in Hong Kong,” said Xia Tian, managing director at Shanghai-based asset management firm Minvest.</p>\n<p>Investor buying via Stock Connect from the mainland to Hong Kong hit a record high of HK$26.6 billion ($3.43 billion) on Tuesday, and the total southbound purchases in the new year hit HK$221.8 billion as of Thursday, according to exchange data.</p>\n<p>The Stock Connect scheme gives investors access to both markets when investing in A-shares in the mainland and H-shares in Hong Kong.</p>\n<p>Morgan Stanley reckons the robust flows into Hong Kong owe to mainland policymakers’ encouragement of outbound investment and an elevated premium of domestic A-shares over the Hong Kong-listed H-shares. Companies’ A-shares listed in China are currently trading at a more than 30% premium over their Hong Kong-listed shares.</p>\n<p>(Graphic: Mainland investors hunt for bargains in Hong Kong, )</p>\n<p><img src=\"https://static.tigerbbs.com/51daf49d9de2b37db2a2b003e3f2b5d1\" tg-width=\"865\" tg-height=\"477\"></p>\n<p><b>JUSTIFIED EXUBERANCE?</b></p>\n<p>The rally in China’s A-share market has also been driven by foreign investment. As of Thursday, foreign investors had purchased a total of 48.7 billion yuan ($7.53 billion) worth of A-shares via the Stock Connect this year, which is already a fifth of what they bought in 2020.</p>\n<p>UBS expects flows of 200 billion yuan into the A-share market in 2021, citing improvement in China’s legal protection for investors, better information disclosure by major shareholders and more capable leading firms in various industries.</p>\n<p>(Graphic: Foreign investors continued to buy A-shares in 2020, )</p>\n<p><img src=\"https://static.tigerbbs.com/d7b559c21ae4cb9bbbda25a57bc7f502\" tg-width=\"884\" tg-height=\"506\"></p>\n<p>Some investors believe the exuberance onshore is justified due to China’s solid economic recovery, continued policy support and further opening up of its capital markets.</p>\n<p>“There is no frothiness in leading large-cap stocks, seen as safer bets as China pushes forward with registration-based IPO reforms in the market,” said Wang Mingli, executive director of Youpu Investment, a Shanghai-based private securities fund.</p>\n<p>“Investors would come back even later if they reduce exposure for now as there are few options out there that represent the country’s future economic development,” he added.</p>\n<p>($1 = 6.4676 Chinese yuan)</p>\n<p>($1 = 7.7517 Hong Kong dollars)</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"399001":"深证成指","399006":"创业板指","HSCCI":"红筹指数","000001.SH":"上证指数","HSCEI":"国企指数","HSI":"恒生指数"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148522524","content_text":"As China’s blue-chip index approaches an all-time high, growing fears about bubbles developing in some parts of the country’s stock market are prodding some investors to seek bargains in Hong Kong.\nRetail investors have poured money into stocks via mutual funds, pushing valuations in sectors such as consumer, healthcare and new energy to multi-year or even record levels.\nFor instance, the CSI new energy index has climbed 15% so far this year, after more than doubling in 2020, thanks in part to China’s carbon neutrality pledge.\n(Graphic: China's new energy, healthcare and consumer stocks lead gains as the country's blue--chip index nears a record high, ) (Graphic: Valuations of China's stock market darlings surge, )\n\n“There are big bubbles in consumer, health care and liquor stocks, with valuations of some of these shares exceeding their previous record highs,” said Dong Baozhen, chairman of Beijing-based private securities fund Lingtong Shengtai Investment Management.\n“Their rally has nothing to do with fundamentals now and poses huge risks for investors,” he added.\nIn the latest example of retail frenzy, a Chinese mutual fund attracted a record $37 billion worth of investor subscriptions on the first day of sales.\n(Graphic: China's mutual fund industry grows rapidly, )\n\nThe rise in stock prices has been fuelled by foreign and domestic money, as Chinese authorities unleashed massive stimulus to deal with the blow from the COVID-19 pandemic and the country’s economy recovered faster than others.\nAs worries increase over frothy valuations, some investors are turning to cheaper Chinese shares listed in Hong Kong, particularly as U.S. exchanges delist these firms and American investors are forced to offload their shares.\n“The (U.S.) bans actually tell people what good assets are in Hong Kong,” said Xia Tian, managing director at Shanghai-based asset management firm Minvest.\nInvestor buying via Stock Connect from the mainland to Hong Kong hit a record high of HK$26.6 billion ($3.43 billion) on Tuesday, and the total southbound purchases in the new year hit HK$221.8 billion as of Thursday, according to exchange data.\nThe Stock Connect scheme gives investors access to both markets when investing in A-shares in the mainland and H-shares in Hong Kong.\nMorgan Stanley reckons the robust flows into Hong Kong owe to mainland policymakers’ encouragement of outbound investment and an elevated premium of domestic A-shares over the Hong Kong-listed H-shares. Companies’ A-shares listed in China are currently trading at a more than 30% premium over their Hong Kong-listed shares.\n(Graphic: Mainland investors hunt for bargains in Hong Kong, )\n\nJUSTIFIED EXUBERANCE?\nThe rally in China’s A-share market has also been driven by foreign investment. As of Thursday, foreign investors had purchased a total of 48.7 billion yuan ($7.53 billion) worth of A-shares via the Stock Connect this year, which is already a fifth of what they bought in 2020.\nUBS expects flows of 200 billion yuan into the A-share market in 2021, citing improvement in China’s legal protection for investors, better information disclosure by major shareholders and more capable leading firms in various industries.\n(Graphic: Foreign investors continued to buy A-shares in 2020, )\n\nSome investors believe the exuberance onshore is justified due to China’s solid economic recovery, continued policy support and further opening up of its capital markets.\n“There is no frothiness in leading large-cap stocks, seen as safer bets as China pushes forward with registration-based IPO reforms in the market,” said Wang Mingli, executive director of Youpu Investment, a Shanghai-based private securities fund.\n“Investors would come back even later if they reduce exposure for now as there are few options out there that represent the country’s future economic development,” he added.\n($1 = 6.4676 Chinese yuan)\n($1 = 7.7517 Hong Kong dollars)","news_type":1},"isVote":1,"tweetType":1,"viewCount":216,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":317834108,"gmtCreate":1612434399704,"gmtModify":1703761808264,"author":{"id":"3574383960851394","authorId":"3574383960851394","name":"JYP","avatar":"https://static.tigerbbs.com/a0df3eb8c19e40b06b9a7b5d13f276c1","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574383960851394","authorIdStr":"3574383960851394"},"themes":[],"htmlText":"Sick","listText":"Sick","text":"Sick","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/317834108","repostId":"1198219554","repostType":4,"repost":{"id":"1198219554","pubTimestamp":1612405479,"share":"https://www.laohu8.com/m/news/1198219554?lang=&edition=full","pubTime":"2021-02-04 10:24","market":"us","language":"en","title":"Why investors were willing to write Robinhood a $3 billion check during the GameStop chaos","url":"https://stock-news.laohu8.com/highlight/detail?id=1198219554","media":"cnbc","summary":"KEY POINTS\n\nVenture capital investors doubled down on investments in Robinhood even as the company s","content":"<div>\n<p>KEY POINTS\n\nVenture capital investors doubled down on investments in Robinhood even as the company scrambled to raise billions of dollars to meet new capital requirements, and faced pressure from ...</p>\n\n<a href=\"https://www.cnbc.com/2021/02/03/why-investors-were-willing-to-write-robinhood-a-3-billion-check-during-the-gamestop-chaos-.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why investors were willing to write Robinhood a $3 billion check during the GameStop chaos</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy investors were willing to write Robinhood a $3 billion check during the GameStop chaos\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-04 10:24 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/02/03/why-investors-were-willing-to-write-robinhood-a-3-billion-check-during-the-gamestop-chaos-.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nVenture capital investors doubled down on investments in Robinhood even as the company scrambled to raise billions of dollars to meet new capital requirements, and faced pressure from ...</p>\n\n<a href=\"https://www.cnbc.com/2021/02/03/why-investors-were-willing-to-write-robinhood-a-3-billion-check-during-the-gamestop-chaos-.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站"},"source_url":"https://www.cnbc.com/2021/02/03/why-investors-were-willing-to-write-robinhood-a-3-billion-check-during-the-gamestop-chaos-.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1198219554","content_text":"KEY POINTS\n\nVenture capital investors doubled down on investments in Robinhood even as the company scrambled to raise billions of dollars to meet new capital requirements, and faced pressure from customers and lawmakers.\nUser growth during the chaos and its prospects as a public company convinced at least three VC investors that backing Robinhood was the right move.\n\"In spite of the trouble last week, the metrics suggest retail trading is exploding and Robinhood is still the only game in town,\" one investor tells CNBC.\n\nRobinhood's ability to add hundreds of thousands of new customers during a week of chaos, along with its IPO prospects, convinced Silicon Valley backers that a multi-billion-dollar cash infusion was worth it.\nCNBC spoke to three of Robinhood's investors, who agreed to speak about the emergency funding without being named, because the conversations were private. All of them said there was \"strong demand\" for investors to get a piece of Robinhood, even as the company stared down a public relations and regulatory crisis.\nThe trouble started last week, as Robinhoodrestrictedtrading for a list of stocks includingGameStop. Amateur investors had bid up those names on social media, causing massive losses for hedge funds that shorted them.\nRobinhood wasnot the onlybrokerage firm to do this. Still, its decision was met with a big backlash from traders and even celebrities on Twitter and Reddit. Some accused the company of colluding with hedge funds to shut down the buy-side of the trade. Lawmakersfrom both major partiesalso lobbed accusations of market manipulation at Robinhood. (Robinhood CEO’s Vlad Tenev said itdid not make the move because of any outside pressure.)\nBut the biggest near-term crisis, was having enough capital to meet regulatory requirements.\nBrokerage firms like Robinhood need to send cash every day to the Depository Trust Company to make sure there’s enough collateral backing up customer trades in the two days it takes them to settle. That formula is based on volatility among other factors, which picked up last week as stocks like GameStop shot up 400%, and rookie traders were deploying leverage.\nThe $3 billion bill\nThe amount Robinhood was expected to post for names like GameStop and AMC increased tenfold, the company said in a blogpost. Robinhood’s operations team woke up to a request at 3:30 a.m. PT on Thursday from the National Securities Clearing Corp, the third party where it reports the collateral, CEO Tenevtold Elon Muskin a conversation on the audio chat app, Clubhouse. The total amount Robinhood needed to post came in at $3 billion, according to Tenev.\nAt the time, Robinhood did not have the capital.\nThe first step was to call up venture capital investors. They were able to round up $1 billion in convertible debt, sources said. That debt will convert to equity when Robinhood goes public, and those investors will get a 30% discount to the market price.\n“In spite of the trouble last week, the metrics suggest retail trading is exploding and Robinhood is still the only game in town,” one investor told CNBC. “This is going to be a big company and if you believe they’re going to IPO, you can get in right now at a discount.”\nThat first tranche was oversubscribed on Thursday, and investors said that Robinhood turned investors away — at first.\nThey decided to open up a second round with the same debt structure that amounted to $2.4 billion. In total, Robinhood brought in $3.4 billion over a few days in capital to meet its regulatory requirements. Because it was debt, not equity, Robinhood’s $11.7 billion valuation on paper did not change. The start-up also tapped a $600 million line of credit from JP Morgan and Goldman Sachs.\nInvestors said that should be “more than enough,” for now. Robinhood is also profitable on a GAAP basis, one investor said. The cushion should be big enough that Robinhood’s balance sheet can handle the shock of similar capital issues cropping up again, the investors said.\nAs of Wednesday midday however, Robinhood was stilllimiting some trading in GameStop and AMC.\nA flood of cash would also put Robinhood in a stronger position ahead of an IPO, which investors expect to happen within the next year but would not give specifics. A direct listing and special purpose acquisition company, or SPAC, are still on the table, but the company “hasn’t decided yet,” one investor told CNBC.\nRobinhood declined to comment on the deal structure and IPO plans.\nShocking user growth\nRobinhood saw fierce criticism from investors like Chamath Palihapitiya -- who is taking another investing platform, Sofi, public through a SPAC -- and rapper Ja Rule, tweeting #deleteRobinhood. Hundreds of users on social media threatened to leave Robinhood for other brokerage firms, and the company is facing multiple class action lawsuits from angry users.\nOne venture capital investor who saw the internal growth metrics last week said the flood of new investors “far outweighed” any attrition. Robinhood was the top app in the iOS app store for multiple days. It also led the industry in app downloads by a wide margin with 600,000 people downloading the free-trading app, according to JMP Securitiesanalysis.\nThat metric was the silver lining investors focused on when weighing whether to throw billions of dollars at the company.\n“It’s the fastest growing consumer app, and has better engagement than social media,” one investor said. “The majority of those new traders won’t be trading GameStop.”\nGrowing too fast has also been a criticism of Robinhood. Palihapitiya and others have suggested that Robinhood stop bringing in new investors until the start-up can shore up last week’s issues. Despite those warnings, Robinhood is spending on marketing for brand awareness. The start-upannouncedits largest brand campaign ever on Wednesday, with a commercial airing during the Super Bowl.\nWishing for a ‘mulligan’\nDespite the tumultuous week, at least three investors were aligned on wanting Tenev to continue leading the start-up through its public debut.\n“Vlad as a leader is fantastic— this week has been tough on the whole team,” one investor told CNBC.\nRobinhood’s chief financial officer, Jason Warnick, said there was also support for the CEO internally. He told CNBC that Tenev “mobilized” the team in an “incredibly effective way” through recent weeks and there was “absolutely no one else I would want to be with.”\nStill, they said the start-up made mistakes. Among those were the messaging from Robinhood in the hours after shutting down customer trades. One said he wished Robinhood could have a “mulligan” and said they should have clearly explained the liquidity issue, while tackling the hedge fund theories out of the gate.\nOn Thursday, Robinhood’s CEO told CNBC that “there was no liquidity problem, and to be clear this was done preemptively so we did this proactively and thousands of other securities remain tradeable on the platform.”\nTenev, who co-founded Robinhood, is facing immense pressure on Capitol Hill. Senator Elizabeth Warren sent the start-up a letterasking for an explanation of why Robinhood shut down trades. He is expected to testify at a House Financial Services Committee hearing later in February. On Wednesday, one of Robinhood’s regulators, FINRA, issued a report saying that it’s increasing oversight of “game-like” trading apps. Regulation is a risk but it’s “impossible to price in,” one investor said.\nRobinhood, and the rest of the online brokerage industry, rely on what’s known aspayment for order flowas their profit engine in lieu of commissions. Market makers pay e-brokers like Robinhood for the right to execute customer trades. The broker is then paid a small fee for the shares that are routed, which can add up to millions when customers trade as actively as they have this year. That practice may come under fire after the events of last week.\n“Robinhood’s value is not the revenue model, it’s the user engagement,” one investor said.","news_type":1},"isVote":1,"tweetType":1,"viewCount":266,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":312466733,"gmtCreate":1612175411922,"gmtModify":1703758288875,"author":{"id":"3574383960851394","authorId":"3574383960851394","name":"JYP","avatar":"https://static.tigerbbs.com/a0df3eb8c19e40b06b9a7b5d13f276c1","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574383960851394","authorIdStr":"3574383960851394"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/312466733","repostId":"2108613273","repostType":4,"isVote":1,"tweetType":1,"viewCount":191,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":316359545,"gmtCreate":1611917534187,"gmtModify":1703756189566,"author":{"id":"3574383960851394","authorId":"3574383960851394","name":"JYP","avatar":"https://static.tigerbbs.com/a0df3eb8c19e40b06b9a7b5d13f276c1","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574383960851394","authorIdStr":"3574383960851394"},"themes":[],"htmlText":"Desperate","listText":"Desperate","text":"Desperate","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/316359545","repostId":"2107295294","repostType":4,"repost":{"id":"2107295294","pubTimestamp":1611869457,"share":"https://www.laohu8.com/m/news/2107295294?lang=&edition=full","pubTime":"2021-01-29 05:30","market":"us","language":"en","title":"GameStop's plunge wipes out US$11 billion as platforms curb trades","url":"https://stock-news.laohu8.com/highlight/detail?id=2107295294","media":"The Straits Times","summary":"NEW YORK (BLOOMBERG) - GameStop snapped a dizzying six-day rally to wipe out nearly US$11 billion in","content":"<div>\n<p>NEW YORK (BLOOMBERG) - GameStop snapped a dizzying six-day rally to wipe out nearly US$11 billion in market value after moves by brokerages to curb trading of the stock on their apps whipped up ...</p>\n\n<a href=\"http://www.straitstimes.com/business/companies-markets/gamestops-plunge-wipes-out-us11-billion-as-platforms-curb-trades\">Web Link</a>\n\n</div>\n","source":"straits_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>GameStop's plunge wipes out US$11 billion as platforms curb trades</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGameStop's plunge wipes out US$11 billion as platforms curb trades\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-01-29 05:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://www.straitstimes.com/business/companies-markets/gamestops-plunge-wipes-out-us11-billion-as-platforms-curb-trades><strong>The Straits Times</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>NEW YORK (BLOOMBERG) - GameStop snapped a dizzying six-day rally to wipe out nearly US$11 billion in market value after moves by brokerages to curb trading of the stock on their apps whipped up ...</p>\n\n<a href=\"http://www.straitstimes.com/business/companies-markets/gamestops-plunge-wipes-out-us11-billion-as-platforms-curb-trades\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"http://www.straitstimes.com/business/companies-markets/gamestops-plunge-wipes-out-us11-billion-as-platforms-curb-trades","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2107295294","content_text":"NEW YORK (BLOOMBERG) - GameStop snapped a dizzying six-day rally to wipe out nearly US$11 billion in market value after moves by brokerages to curb trading of the stock on their apps whipped up volatility and enraged the company's retail fanbase.\nThe stock plunged 44 per cent on Thursday (Jan 28) after Robinhood Markets, Interactive Brokers Group and others took steps to curtail activity in several high-flying stocks, including GameStop and AMC Entertainment Holdings.\nE*Trade Financial is preventing customers from purchasing shares of both firms, according to a person familiar with the matter.\nThe video-game retailer triggered 19 volatility halts on its way to shedding more than twice what it was worth on Monday. Volume also fell, with about 55 million shares traded by Thursday afternoon, a far cry from Friday's record of 197 million.\nThe trading curbs resulted in howls of outrage on Reddit's WallStreetBets forum, which has been the launching point for many of this week's blistering rallies, and Robinhood was hit by lawsuits from customers.\nIt also prompted lawmakers to criticise restrictions imposed on retail investors.\nDemocratic Senator Sherrod Brown, the incoming Senate banking chairman, said he plans to hold a hearing on the \"current state of the stock market.\"\nThe clampdown by brokerages extended beyond GameStop to other popular stocks such as BlackBerry that have surged this week, burning short sellers and hedge funds.\nThe phenomenon attracted the attention of regulators on Wednesday, with the Securities and Exchange Commission saying it was actively monitoring the situation.\n\"The inability to trade depressed the volume, and high volume is what kept the stock trading at a high level,\" said Wedbush Securities analyst Michael Pachter.\n\"I'm actually surprised the trading platforms think they can manage the market this way, and expect they will reverse their decision shortly.\nGameStop, others tumble as Robinhood restricts trades\nFor a brief moment on Thursday morning, GameStop became the biggest stock on the Russell 2000, taking over from Plug Power. The video-game retailer has advanced more than 900 per cent this year, fuelling a rally in retail trading across the board and leading some short sellers to throw in the towel. However, that rally seemed to stall out on Thursday.\n\"With a company like GameStop, at some point it comes back to Earth. Even the folks on Reddit know that,\" said Jerry Braakman, chief investment officer of First American Trust in Santa Ana, California, which manages around US$2 billion. \"The market's going to find the right price, the price that's not a short-term squeeze price.\"\nMore on this topic\nRelated Story\nSenate panel to hold hearing amid GameStop frenzy\nRelated Story\n4 things to know about the GameStop insanity\nTrading has remained volatile since the last regular US session, in which the stock rose 135 per cent. Gains were briefly pared postmarket after the Reddit page that has fuelled this month's surge was made private and then later reopened by the group's moderators.\nIn the time the original WallStreetBets board was down, an alternate forum called Wallstreetbetsnew topped 350,000 members.\n\"This will burn itself out, like any other mania, but there will likely to be some impact on the market as a whole,\" said Marshall Front, chief investment officer at Front Barnett Associates. \"That these eye-popping moves happen after a nearly 70 per cent move in the S&P since March shows there's plenty of room for a pullback.\"\nBest-case scenario\nGameStop shares would be worth US$125.75 in a best-case scenario, compared to its close of US$193.60, said Baird analyst Colin Sebastian. That assumes a successful transition that maintains its current market share, preserves its used-game business, and diversifies into other services, he wrote in a report.\nMore on this topic\nRelated Story\nEpic battle over GameStop as 'nerds' take on Wall Street\nRelated Story\nReddit's WallStreetBets briefly goes dark after fueling GameStop surge\nSebastian laid out four different scenarios for the stock, ranging from \"bright blue sky\" to \"storm cloud.\"\nBaird has a US$13 share price target with a hold-equivalent rating.\nShorts exit\nGameStop's rise has prompted analysts at Citigroup to warn investors that some exchange-traded funds face an outsized influence from the video-game retailer as its boom has altered their composition.\nAnalyst Scott Chronert advised clients to take \"special note\" of ETFs that incorporate leverage in their funds. A larger allocation to the stock may materially change fund performance for now until rebalance dates occur, he said in a report.\nWhy regulators may scrutinize Reddit's GameStop gambit\nThe Reddit community has dominated equities trading all week as retail traders target heavily shorted shares, causing ripples across the market. Investors including Melvin Capital closed out its short position on GameStop, while Muddy Waters' Carson Block said he \"massively reduced\" its short positions in recent days to avoid getting burned.\n\"It's hard to say what is next, but the chat room investors may not go away so easily,\" said Joseph Feldman, analyst at Telsey Advisory Group.\nHe double-downgraded the stock to underperform from outperform on Monday, removing GameStop's only buy-equivalent recommendation.","news_type":1},"isVote":1,"tweetType":1,"viewCount":252,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":310774603,"gmtCreate":1611392391102,"gmtModify":1703750352942,"author":{"id":"3574383960851394","authorId":"3574383960851394","name":"JYP","avatar":"https://static.tigerbbs.com/a0df3eb8c19e40b06b9a7b5d13f276c1","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574383960851394","authorIdStr":"3574383960851394"},"themes":[],"htmlText":"Huat","listText":"Huat","text":"Huat","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/310774603","repostId":"1174259748","repostType":4,"isVote":1,"tweetType":1,"viewCount":759,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":310777352,"gmtCreate":1611392552776,"gmtModify":1703750353681,"author":{"id":"3574383960851394","authorId":"3574383960851394","name":"JYP","avatar":"https://static.tigerbbs.com/a0df3eb8c19e40b06b9a7b5d13f276c1","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574383960851394","authorIdStr":"3574383960851394"},"themes":[],"htmlText":"Too much incumbent for ICE to transform fast enough&nbsp;","listText":"Too much incumbent for ICE to transform fast enough&nbsp;","text":"Too much incumbent for ICE to transform fast enough","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/310777352","repostId":"1137880687","repostType":4,"isVote":1,"tweetType":1,"viewCount":224,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}