Wednesday, February 5

Tag: DBT

Exclusive: China’s clashing priorities behind rare money market distress
7Nov By adminNo Comments
Money

Exclusive: China’s clashing priorities behind rare money market distress

SHANGHAI/SINGAPORE, Nov 6 (Reuters) - China's attempts to keep the yuan from falling contributed to last week's chaos in money markets, sources involved say, pointing to the pressure behind the scenes as Beijing tries to guide its economy and markets through a major slowdown.Routine month-end demand for cash in China's banking system snowballed into a scramble on Oct. 31 that pushed short-term funding rates as high as 50% in some cases, an incident that authorities are now investigating.Six participants in the market say a confluence of factors drove fear and confusion across trading rooms in Shanghai and Beijing by late afternoon on that day.Eventually, the People's Bank of China (PBOC), its affiliated China Foreign Exchange Trade System (CFETS) and bond clearing houses stepped in, direc...
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Israel launches diaspora bond push to raise money amidst war with Hamas
10Oct By adminNo Comments
Money

Israel launches diaspora bond push to raise money amidst war with Hamas

Flame and smoke rise over Lebanon as seen from Israel's border with Lebanon, in northern Israel, October 10, 2023. REUTERS/Ammar Awad/ File Photo Acquire Licensing RightsLONDON, Oct 10 (Reuters) - Israel launched a diaspora bond campaign on Tuesday to raise money amidst a war with Hamas, according to posts on social media sites linked with Israel Bonds."Israel Bonds has launched an international campaign to raise funds for the Jewish state that is at war," posts on LinkedIn, Instagram and X, the social media site formerly known as Twitter. "Invest in Israel bonds to provide the nation with financial resources at its darkest hour."According to its website, Israel Bonds - the country's borrowing vehicle for diaspora bonds - had $5.4 billion worth of outstanding bonds as of December 31, rep...
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Column: J&J wants Congress to halt litigation-funded mass torts ‘money play.’ Are lawmakers listening?
13Sep By adminNo Comments
Money

Column: J&J wants Congress to halt litigation-funded mass torts ‘money play.’ Are lawmakers listening?

Sept 13 (Reuters) - A Johnson & Johnson attorney told the U.S. House Oversight and Accountability Committee on Wednesday that outside funding of mass torts personal injury claims has turned the civil justice system into “a money play: driven, funded and distorted by legal and financial entrepreneurs.”In written testimony, J&J assistant general counsel Aviva Wein urged Congress to enact laws (or endorse proposed changes to the federal rules for civil litigation) to require disclosure when outside financiers are backing plaintiffs. She also asked lawmakers to take on the job of regulating the litigation finance industry and to curb allegedly misleading advertisements designed to generate mass tort claims.A bevy of business groups, including the U.S. Chamber of Commerce, the National...
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Global money market funds attract biggest weekly inflows in three months
8Sep By adminNo Comments
Money

Global money market funds attract biggest weekly inflows in three months

Saudi riyal, yuan, Turkish lira, pound, U.S. dollar, euro and Jordanian dinar banknotes are seen in this illustration taken January 6, 2020. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsSept 8 (Reuters) - Global money market funds attracted robust inflows in the week ended Sept. 6, as investors gravitated towards safer options amid concerns over slowing growth in China and Europe as well as uncertainty regarding the Federal Reserve's interest rate outlook.Investors poured about $57.38 billion into global money market funds in their most significant weekly net purchases since June 7, LSEG data showed.Reuters Graphics Reuters GraphicsInvestors favoured safer assets on worries that a slowdown in China and Europe would weigh down global growth.Data from the euro area and Britain s...
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US money market funds draw biggest inflow in four months
4Aug By adminNo Comments
Money

US money market funds draw biggest inflow in four months

Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. REUTERS/Rick Wilking/File PhotoAug 4 (Reuters) - U.S. money market funds saw robust demand in the seven days to Aug. 2 as investors favoured safer assets on concerns over a U.S. credit rating downgrade and economic reports signalling a still-tight labour market.Investors secured U.S. money market funds worth about $58.56 billion in their biggest weekly net buying since March 29, data from Refinitiv Lipper showed.Reuters Graphics Reuters GraphicsU.S. equity funds drew $133 million worth of inflows, compared with about $2.57 billion worth of net purchases a week ago.U.S. equity growth funds saw net outflows worth $3.48 billion, the biggest since June 7, but value fu...
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