Financial Markets
Top stories summarized by our editors
5/22/2018

UK Culture Secretary Matt Hancock says a bid for Sky from US cable company Comcast does not raise public-interest concerns that "meet the threshold for intervention". The £22 billion bid is unlikely to face the same antitrust scrutiny as that faced by an offer from 21st Century Fox.

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BBC
5/22/2018

China's rapid economic growth, which has made the country the world's largest economy, is set to continue for decades, but the pace is ultimately unsustainable, Noah Smith writes. An ageing and declining population, overreliance on coal and a possible reversal of migration to cities are among factors that will slow growth, Smith writes.

5/22/2018

Market watchers have predicted Brent crude oil, at more than $80 per barrel for the first time since 2014, could reach $100 per barrel, but technical analyst Walter Zimmerman calls the forecast "herding behavior" and says a retreat is more likely. Hedge funds have cut net-long positions for five consecutive weeks, and Brent's 14-day relative strength index exceeds 70, indicating overbought conditions.

5/22/2018

Technical analyst James Bartelloni, CMT, who has monitored IBM's progress since 2015, writes that the stock is approaching a point at which buying is strongly indicated. Daily, weekly, monthly and log charts are moving synchronistically and are set to meet an upward trend line, which could prompt a sharp, sustainable ascent, Bartelloni writes.

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See It Market
5/22/2018

Investors are selling off Italian bonds amid concerns about the political landscape, as two populist parties develop a government, and about a potential request to write down debt. The two-year yield is the highest in almost three years at 0.28%, and the 10-year yield was 20 basis points higher Monday compared with Friday.

5/22/2018

Vanguard has filed paperwork for an exchange-traded fund giving investors exposure to the global bond market by tracking the Bloomberg Barclays Global Aggregate Float Adjusted Composite Index. The Vanguard Total World Bond ETF buys shares of the Vanguard Total Bond Market ETF and the Vanguard Total International Bond ETF.

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Vanguard, Bloomberg Barclays
5/22/2018

A sell-off in corporate bonds has led to the third-worst 100-day returns since 2000 for US corporate debt, according to JPMorgan Chase data. However, JPMorgan strategists say results at year-end will not be as poor as those of the past 100 days because demand from pension funds and foreign investors for long-dated notes remains strong.

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JPMorgan
5/22/2018

National Stock Exchange of India has filed a lawsuit to prevent Singapore Exchange from introducing derivatives that supplant Nifty 50 futures contracts. SGX is planning a June launch of its own Indian derivatives.

5/22/2018

Chinese and US negotiators have agreed on an outline of a compromise under which the US lifts a ban on domestic companies' sales to Chinese telecommunication firm ZTE, sources say. As an alternative, ZTE reportedly must revamp management and might have to pay large fines.

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MarketWatch
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ZTE
5/22/2018

A Northern Trust survey of the Asia-Pacific region reveals widespread expectations that use of artificial intelligence will become standard practice throughout the financial industry within five years. This contrasts with attitudes in Europe, where a SimCorp survey finds only 15% of investment chiefs at buy-side firms consider AI deployment a priority for 2018.

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AI, AI, Northern Trust