Linkfest: How FX benchmarks were fixed; QE’s long good-bye; Best charts of 2013
Categories: Linkfest
Today’s most shared: The FX ‘fixing’ … The bureaucracy of bank backstops… How the Fed statement changed… The apparent success of QE, so far… Gold drops on taper… Using spy technology to gather trading information… A 2013 chart roundup… Do commodities deserve an asset allocation? … SAC trader convicted… Voters say government is the greatest threat to future… Bitcoin fans’ magical thinking… The Bitcoin bubble endgame… Economists’ holiday cards.
How Secret Currency Traders’ Club Devised Biggest Market’s Rates
Bloomberg
It’s 20 minutes before 4 p.m. in London and currency traders’ screens are blinking red and green. Some dealers have as many as 50 chat rooms crowded onto four monitors arrayed in front of them like shields. This is the closing “fix.”
shared by @lucymarcus, @retheauditors, @mccarthyryanj, @ritholtz
Bloomberg
It’s 20 minutes before 4 p.m. in London and currency traders’ screens are blinking red and green. Some dealers have as many as 50 chat rooms crowded onto four monitors arrayed in front of them like shields. This is the closing “fix.”
shared by @lucymarcus, @retheauditors, @mccarthyryanj, @ritholtz
How to shutter a bank in Europe
Financial Times
A bureaucratic infographic.
shared by @SonyKapoor, @GTCost, @BrunoBrussels, @gusbaratta, @MatinaStevis
Financial Times
A bureaucratic infographic.
shared by @SonyKapoor, @GTCost, @BrunoBrussels, @gusbaratta, @MatinaStevis
Parsing the Fed: How the Statement Changed
Wall Street Journal
The Federal Reserve releases a statement at the conclusion of each of its policy-setting meetings, outlining the central bank’s economic outlook and the actions it plans to take.
shared by Business Insider, @markgongloff, @firoozye, @CardiffGarcia
Wall Street Journal
The Federal Reserve releases a statement at the conclusion of each of its policy-setting meetings, outlining the central bank’s economic outlook and the actions it plans to take.
shared by Business Insider, @markgongloff, @firoozye, @CardiffGarcia
Farewell QE, you have been a magnificent success
The Telegraph
The moral contours of QE depend on your angle of vision. But would you rather be surrounded by mass unemployment?
shared by @NickMalkoutzis, @mhewson_CMC, reddit/Economics, @ReformedBroker
The Telegraph
The moral contours of QE depend on your angle of vision. But would you rather be surrounded by mass unemployment?
shared by @NickMalkoutzis, @mhewson_CMC, reddit/Economics, @ReformedBroker
Gold Drops Below $1,200 an Ounce for First Time Since June
Bloomberg
Gold fell below $1,200 an ounce in London and New York for the first time since June as an improving U.S. economy prompted the Federal Reserve to cut stimulus and reduced demand for precious metals as alternative assets.
shared by Business Insider, @ritholtz, Naked Capitalism, reddit/Economics
Bloomberg
Gold fell below $1,200 an ounce in London and New York for the first time since June as an improving U.S. economy prompted the Federal Reserve to cut stimulus and reduced demand for precious metals as alternative assets.
shared by Business Insider, @ritholtz, Naked Capitalism, reddit/Economics
A growing industry uses surveillance and data-crunching technology to supply traders with nonpublic information.
Wall Street Journal
Genscape and Remote Sensing Metrics use surveillance and data-crunching technology to supply traders with nonpublic information about oil supplies, electric-power production, retail traffic and crop yields.
shared by Naked Capitalism, @ThemisSal, @Alea_, NYT Dealbook
Wall Street Journal
Genscape and Remote Sensing Metrics use surveillance and data-crunching technology to supply traders with nonpublic information about oil supplies, electric-power production, retail traffic and crop yields.
shared by Naked Capitalism, @ThemisSal, @Alea_, NYT Dealbook
Wall Street’s Brightest Minds Reveal The Most Important Charts Of The Year
Business Insider
Wall Street’s brightest portfolio managers, strategists, analysts, and economists reveal what they deem the most important charts of the year.
shared by @TFMkts, Reformed Broker, @M_C_Klein, @GTCost, @finansakrobat
Business Insider
Wall Street’s brightest portfolio managers, strategists, analysts, and economists reveal what they deem the most important charts of the year.
shared by @TFMkts, Reformed Broker, @M_C_Klein, @GTCost, @finansakrobat
Investors should abandon long-term commodity bets
Financial Times
UBS strategists say justifications for long-term bets on commodities are illusory.
shared by @abnormalreturns, Reformed Broker, @M_C_Klein
Financial Times
UBS strategists say justifications for long-term bets on commodities are illusory.
shared by @abnormalreturns, Reformed Broker, @M_C_Klein
Ex-SAC Trader Is Convicted of Insider Trading
New York Times
Michael S. Steinberg is the highest-ranking employee at SAC Capital Advisors to become ensnared in a sweeping insider trading investigation.
shared by @Alea_, Here Is The City, @IvanTheK, Reformed Broker, @MattGoldstein26
New York Times
Michael S. Steinberg is the highest-ranking employee at SAC Capital Advisors to become ensnared in a sweeping insider trading investigation.
shared by @Alea_, Here Is The City, @IvanTheK, Reformed Broker, @MattGoldstein26
Citigroup Said to Plan Flat or Smaller Bonuses
Bloomberg
Citigroup Inc.’s bonuses for investment bankers and traders probably will be little changed or drop from last year as the third-largest U.S. lender seeks to reduce costs, a person briefed on the policies said.
shared by @lucymarcus, NYT Dealbook, Here Is The City, @nasiripour
Bloomberg
Citigroup Inc.’s bonuses for investment bankers and traders probably will be little changed or drop from last year as the third-largest U.S. lender seeks to reduce costs, a person briefed on the policies said.
shared by @lucymarcus, NYT Dealbook, Here Is The City, @nasiripour
Record High in U.S. Say Big Government Greatest Threat
gallup.com
A record-high 72% of Americans name "big government" as the greatest threat to the country in the future, over "big business" and "big labor." In 1965, when Gallup first asked the question, 35% named big government.
shared by @tylercowen, @MichaelKitces, @ATabarrok, @Richard_Florida
gallup.com
A record-high 72% of Americans name "big government" as the greatest threat to the country in the future, over "big business" and "big labor." In 1965, when Gallup first asked the question, 35% named big government.
shared by @tylercowen, @MichaelKitces, @ATabarrok, @Richard_Florida
Alex Payne — Bitcoin, Magical Thinking, and Political Ideology
al3x.net
The only thing “profound” about Bitcoin is its community’s near-total obliviousness to reality.
shared by Business Insider, reddit/Economics, @Techmeme, @aarontask
al3x.net
The only thing “profound” about Bitcoin is its community’s near-total obliviousness to reality.
shared by Business Insider, reddit/Economics, @Techmeme, @aarontask
Bitcoin Mania Heads Into the Endgame
New York Times
Lurking behind the recent declines in the value of a Bitcoin are fundamental intellectual flaws.
shared by @JacobWolinsky, @Alea_, @SconsetCapital
New York Times
Lurking behind the recent declines in the value of a Bitcoin are fundamental intellectual flaws.
shared by @JacobWolinsky, @Alea_, @SconsetCapital
If Economists Wrote Christmas Cards
The Atlantic
The University of Chicago asks a group of academics about gift-giving and the holidays. Their responses will melt your heart.
shared by @jasonzweigwsj, @kevinjdelaney, reddit/Economics, @M_C_Klein
The Atlantic
The University of Chicago asks a group of academics about gift-giving and the holidays. Their responses will melt your heart.
shared by @jasonzweigwsj, @kevinjdelaney, reddit/Economics, @M_C_Klein
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