holding riski assets eh ?
Goldman challenges Fed’s demand it hold more capital after stress test, FT reports
July 14 (Reuters) – Goldman Sachs (GS.N), opens new tab has lodged an appeal with the U.S. Federal Reserve challenging its result in the regulator’s most recent “stress test,” which is set to force the bank to hold a greater amount of capital, the Financial Times reported on Sunday, citing people familiar with the matter.
The Federal Reserve’s annual “stress test” exercise showed last month that the biggest U.S. banks would have enough capital to withstand severe economic and market turmoil but firms faced steeper hypothetical losses this year due to riskier portfolios.
The tested banks overall saw losses of 17.6% to existing loan balances on credit cards and among them Goldman Sachs recorded 25.4% in losses.
My enemies at Black Rock just hit a $10.6 Trillion asset valuation, but my friends at Goldman hit a 150% profit gain on some really smooth trading acumen. Always loved Goldman. Hate BlackRock, bad people.
US Dollar has legs on the attack on Trump, and judging by the mood of people who have called me about it even the somewhat liberal one’s are angry at the current establishment. I think there will be a lot of pre-election pricing which will become quite muted about 3 weeks prior.
FLASH BRIEF
July ECB meeting preview: On hold until at least September
Having delivered the widely anticipated 25 basis point cut in key interest rates in June, the ECB is expected to leave policy unchanged at what will be its last meeting before the summer recess. Since the last gathering, inflation developments have been mixed and the euro has been volatile in the face of diminished easing speculation in the U.S. and the fallout from surprisingly sharp swings to the right and then left in the recent snap French National Assembly elections. Accordingly, Thursday’s announcement is seen holding the key deposit rate at 3.75 percent, the refi rate at 4.25 percent and the rate on the marginal lending facility at 4.50 percent. The bank is also likely to repeat June’s limited forward guidance which stated that it “will keep policy rates sufficiently restrictive for as long as necessary” to achieve the inflation target…
Econoday
July 15 (Reuters) – A look at the day ahead in U.S. and global markets from Mike Dolan
Ready The shock shooting on Saturday of former President Donald Trump, who is seeking a return to the White House, is reverberating around world markets, with bets that the incident boosts his re-election chances steepening the Treasury yield curve and lifting stock futures first thing.
Morning Bid: Trump hit steepens curve; China’s economy judders
GBPCHF 4h
Supports : 1.15950 , 1.15600 & 1.15250
Resistances : 1.16250 , 1.16350 & 1.16500
Close of this Bar above 1.16200 would call for more Up
Break Above 1.16500 would open a new playing field – Higher channel !
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