Macaskill on Markets
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LATEST ARTICLES
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The US government’s case against Archegos Capital sets up a contest to guess which of the fund’s prime brokers was the most gullible at any given time. To keep the game interesting, the answer might not always be Credit Suisse. -
Elon Musk’s $44 billion Twitter deal could see his bankers shift from cordial competition for fees to a desperate battle to avoid margin losses if the value of his Tesla holdings falls sharply.
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It looks like Chelsea bid heartbreak for the structuring team at asset manager Centricus, but football financing is a funny old game and it’s never over until the final whistle blows.
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Margin hikes are raising the table stakes in markets from commodities to stock loans. Margins may be a better risk signal than curiously subdued measures like the ViX index of equity volatility.
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Russians could try to use cryptocurrencies to dodge sanctions following the invasion of Ukraine, but a move into the mainstream by crypto exchange heads hungry for fiat currency wealth will complicate evasion tactics.
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Energy price volatility driven by war in Ukraine could deliver a windfall to banks such as Goldman Sachs that retain scale in commodity trading. Profits from dealing can also be made without triggering ESG or sanctions-related pain.
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Wage inflation leads to substantial cost increases at major Wall Street banks.
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The trend continues for ever more dramatic accusations in US legal filings.
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Asset managers are following the well-trodden route of bankers in shifting from finance to politics.
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Euromoney’s Mystic Maca has looked into the future and it’s all about getting things back to the way they were.
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Is the best inflation hedge the asset you just bought? There is more at stake as prices rise than talking your own book.
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A lawyer with a specialism in helping Chinese companies to float in the US is among the cast of characters working on Donald Trump’s Spac.
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Gas price volatility is delivering profits to speculators. It is a reminder that carbon trading markets could face PR problems if energy dealers are viewed as big beneficiaries.
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A consensus that Evergrande’s failure will be more like the LTCM unwind than the Lehman bankruptcy could underplay ongoing challenges in hedging Chinese exposure.
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Bank of America struck a disjointed tone in its announcement that chief operating officer Tom Montag and vice chair Anne Finucane are to retire at the end of the year.
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Credit Suisse is stacking its board with risk management experts, but banks need to do more than fight the last war they lost.
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David Wildermuth, the new chief risk officer at Credit Suisse, may have much of the heavy lifting done by the time he arrives at his desk in Zurich.
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JPMorgan wants to have fun being a disruptor, but persistently low valuations for even the strongest banks limit its options.
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A reported $1 billion score from distressed debt trading could encourage banks to look for risky ways to boost earnings.
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As football fans enjoy an action-packed European Championship, JPMorgan is advancing its project to dominate global sport financing.
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JPMorgan’s new chief financial officer, Jeremy Barnum, is an unusual choice for a role that has become a springboard for greater things.
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US banking chiefs were reminded that their slow move towards socially aware finance brings new risks as they testified to Congress in May.
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Employees in the wealth management and investment banking businesses will be sizing up the risks to their own future financial wellbeing of staying with the firm.
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The US investment bank sidesteps an avoidable reputational own goal as a planned football European Super League collapses.
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Bitcoin’s move into the mainstream is forcing crypto financiers to develop code switching skills to communicate with Wall Street without alienating online evangelists.
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Bitcoin’s boom is dependent on ‘whales’ holding on to long positions, but trading techniques from older markets could create opportunities for whale hunters.
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Rob Karofsky will become sole president of the investment bank at UBS, ending his ‘odd couple’ partnership with co-president Piero Novelli.
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Citadel founder Ken Griffin may have felt more annoyed than threatened by his day testifying to Congress about volatility in GameStop and other stocks popular with retail investors, but scrutiny of market making and clearing is set to increase.
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Goldman’s chief executive David Solomon isn’t impressed by Spac deals from Credit Suisse and Citigroup.
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Gary Gensler could start his tenure running the Securities and Exchange Commission with a dramatic flourish by taking steps to burst the bubble in special purpose acquisition companies.
