| April 05, 2022 | | | |  | Jeff Bergstrom
Editor
John Lothian News | |
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| | | | Lead Stories | | | Euro Hedging Costs Climb on Le Pen Risk in French Elections
Vassilis Karamanis - Bloomberg
The cost of hedging the euro is rising as traders turn their focus to polls showing a closer race in the French presidential elections.
Options that protect against a drop in the common currency over the next week have risen to the highest level since March 22, ahead of the first round of the French vote on Sunday. Institutional investors and hedge funds have added exposure to a fall in the euro, traders said.
/jlne.ws/3DIczs9
Black-Swan Investment Funds Thrive as Wall Street Doomsayers Have Their Day
Denitsa Tsekova and Libby Cherry - Bloomberg
Money manager Sushil Wadhwani could barely get a meeting started last year before clients started grilling him for advice on how to survive the next market crash.
So in February, the chief investment officer of PGIM Wadhwani duly launched a defensive fund that takes short positions in equities and buys haven currencies, among other things.
/jlne.ws/3j91bfu
Stoxx 600 Index: European Stocks Steady as French Shares Drop on Election Risks
Bloomberg
European equities inched out muted gains on Tuesday as commodities-linked sectors advanced while French stocks slipped amid investor concerns after the latest election poll showed a tighter-than-expected presidential race.
The Stoxx Europe 600 Index added 0.2% by the close in London, with utilities, miners and energy sectors outperforming. Automakers and technology were under pressure as the Nasdaq 100 fell. The FTSE 100 index outperformed, closing at the highest level since Feb. 11.
/jlne.ws/3LJ5hHz
Mass exit from nickel market opens up a volatility trap
Andy Home - Reuters
The good news for the London Metal Exchange (LME) is that its nickel contract is trading again after last month's chaotic suspension.
Average daily nickel volumes inevitably dropped sharply in March relative to February but were only 2% below those of March last year, which is not bad considering the six-day trading halt and subsequent stop-start return.
/jlne.ws/3DKhGIv
Ag Economy Barometer slides lower, producers concerned about war's impact on input prices
CME Group
The Purdue University/CME Group Ag Economy Barometer dipped to a reading of 113 in March, down 12 points from February and 36% lower than March 2021, marking the weakest farmer sentiment reading since May 2020, the early days of the pandemic. The decline was driven by producers' weaker perceptions of both current conditions in the agricultural economy and expectations for the future. The Index of Current Conditions declined 19 points to 113, down 44% from March 2021, and the Index of Future Expectations declined 9 points to 113, down 31% from the same time last year. The Ag Economy Barometer is calculated each month from 400 U.S. agricultural producers' responses to a telephone survey. This month's survey was conducted between March 14-18, 2022.
/jlne.ws/3uYiLs1
| | | | | | Exchanges | | | Miami International Holdings Reports March 2022 Trading Results - Year-to-Date Volume Records Across all Exchanges
MIAX
Miami International Holdings, Inc. (MIH) today reported March 2022 trading results for its U.S. exchange subsidiaries - MIAX , MIAX Pearl and MIAX Emerald (together, the MIAX Exchange Groupâ¢), and Minneapolis Grain Exchange (MGEXâ¢). Total year-to-date volume for all MIH exchanges reached record levels in the first quarter of 2022.
/jlne.ws/2K3gU18
Intercontinental Exchange Reports March and First Quarter 2022 Statistics; First Quarter ADV up 9% y/y; OI up 5% y/y
ICE
Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology and market infrastructure, today reported March 2022 trading volume and related revenue statistics, which can be viewed on the company's investor relations website at https://ir.theice.com/ir-resources/supplemental-information in the Monthly Statistics Tracking spreadsheet. "In the first quarter of 2022, the war in Ukraine brought both geopolitical risk and supply uncertainty across commodity markets as inflationary pressure underpinned activity in interest rate markets," said Ben Jackson, President of ICE. "Our benchmark futures contracts help to price commodities that millions of people rely on, providing our customers with the risk management tools they need in the midst of a crisis."
/jlne.ws/3u7Zbuo
| | | | | | Regulation & Enforcement | | | Gary Gensler says most cryptos are securities, but some are more like gold â so the SEC and the CFTC should team up to regulate exchanges
Adam Morgan McCarthy - Business Insider
The SEC will talk to the CFTC about joint regulation of crypto exchanges, he said on Monday.The CFTC already regulates the derivatives markets and oversees regulation of bitcoin and ether futures.
Most cryptocurrencies are essentially securities, but some, by nature are more like gold and, as such it should be up to the two largest US regulators to join forces to decide how oversight of the exchanges where they trade should work, the head of the Securities and Exchange Commission said on Monday.
/jlne.ws/3ua7khH
| | | | | | Strategy | | | These income strategies can help protect your stock investments from inflation and a recession
Philip van Doorn - MarketWatch
There is always uncertainty in the stock market, but the deflationary cycle that helped feed tremendous gains over the past several decades has ended. Two related strategies can give you downside protection while still capturing most of the upside potential of stocks.
The two strategies: 1. Selecting stocks of companies that have been increasing their regular dividend payouts rapidly. 2. Augmenting that dividend income through the use of covered call options.
/jlne.ws/3ubHytJ
| | | | | | Miscellaneous | | | US to Enter Recession Within 3 Years, Insurers Predict: Goldman Survey
Hamza Fareed Malik - Markets Insider
Insurers with $13 trillion under management believe the US will enter a
recession
by 2025, a survey by Goldman Sachs has found.
Many investors have been concerned the Federal Reserve's aggressive plan for interest-rate hikes in 2022 could dampen the US economy and slow down growth.
/jlne.ws/3JaJDKI
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