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...Market impact from the option-driven funds is more likely to be visible in nuanced vol-market metrics (e.g. correlation) than in overall market volatility....
...Firstly, approximately 30% of the Global and North American totals are made up of ‘dry powder’, i.e. undrawn capital commitments....
...We observed both manual submissions via e-mail or via a portal. — Different acknowledgement types....
...I said this to the staff of the SEC and to Gensler, which is you think that Schwab, Fidelity, Vanguard, Morgan Stanley, E-TRADE, they need to be told where to send their retail orders, like they don’t have...
...• Furthermore, the speed at which markets become volatile (the ‘volatility of volatility’) has increased, possibly aided by greater transparency and more dependence on e-trading and automation....
...Her eye for colour inspired many heirs and followers, among them Maud E Stebbing, whose Colour in the Garden, a finely illustrated book, is overlooked but still valuable: it had two major editions, one in...
...We est. the value of the Services LOB (est. 1/4 of core revenues) at about 4/5 of Citi’s market cap ($75B vs $99B as of Dec. 29, 2023) assuming a P/E of 12-13x on 2024E earnings of $6B....
...The root-cause of bank runs are maturity mismatches between assets and liabilities (i.e.: short-term deposits are used to fund longer maturity loans)....
...Robin Cooke-HurleLondon SW11, UK...
...In the median experience since 1984, the S&P 500 forward P/E has declined by 2% in the 12 months preceding Election Day....
...When comparing stocks that reach an intraday low return of just above −10% (i.e., unrestricted stocks) to stocks that reach an intraday low return of just below −10% (i.e., restricted stocks) in the same...
...Another way of using LLMs is to extract their word embeddings of input text (i.e., the numerical vector of how the model represents the text) and use these as features in an econometric model to predict...
...There are also potentially profits from other Riksbank holdings, e.g. gold and the FX reserve in general which could limit the size of the capital injection, although this is uncertain given discrepancies...
...That exemption is subject to the following conditions: (1) the issuer of the relevant debt securities (e.g. CS’s bail-in-bonds) and the new equity securities (e.g....
...flows for all US equity L&I ETFs on this day to be just over US$20 billion of equities sold, representing around 3.8% of the total value of all S&P 500 shares traded (or the equivalent of just over 100,000 E-mini...
...Miguel Faria e Castro and Fernando Leibovici have used Google’s large language model PaLM to produce retrospective inflation forecasts for 2019-23, and compared them to the predictions of the Philly Fed’...
...More recent studies that measure productivity through complex performance metrics and draw evidence from industries involving high-cognitive tasks (e.g. IT services) reveal more negative effects....
...with our emphasis below: Following the regional banking crisis earlier this year, markets took an optimistic view: soft landing became a consensus, European stocks rallied at the back of China reopening (e.g...
...Second is similarity in financial imbalance, i.e. the pace of increase and level of debt problem....
...Alphaville’s emphasis below: In recent weeks, we see mounting financial risks from the property sector (e.g., Country Garden), the shadow banking sector (e.g. Zhongrong Trust), and LGFVs....
...Rapid advances in AI text-to-image software, such as Dall-E (created by OpenAI, the US-based artificial intelligence research laboratory behind ChatGPT), Midjourney, and the open-source system Stable Diffusion...
...That could be what is happening in the p/e chart above. That would not necessarily signal the death of the size factor. One good read Sport gambling is proliferating in the US....
...E. Shaw group, a global investment and technology development firm, today announced that it has raised $1.1 billion in combined commitments for two new funds, D.E. Shaw Voltaic Fund and D. E....
...And, as Robin Wigglesworth noted in Alphaville last week, outside of the Mag 7 the story doesn’t look terribly strong....
...This in turn drives buying of stocks by funds that mechanically increase exposure when volatility declines (e.g. volatility targeting and risk parity funds)....
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