Wall Street Warned by U.S. Regulators to Speed Up Libor Exit
Jesse Hamilton, Alex Harris, and Christopher Condon, 11 June 2021
Wall Street banks must speed up their efforts to stop using Libor, regulators said Friday, issuing one of their sternest warnings yet about abandoning the scandal-plagued benchmark.
From Treasury Secretary Janet Yellen to Federal Reserve Chairman Jerome Powell, watchdogs made clear during a meeting of the Financial Stability Oversight Council that time is running out. The admonishment — coming from the heads of all of the U.S.’s most powerful financial agencies — marked a remarkably high-profile push to light a fire under banks including Citigroup Inc., JPMorgan Chase & Co. and Goldman Sachs Group Inc. Continue reading “Article: Wall Street Warned by U.S. Regulators to Speed Up Libor Exit”
Let the Apes Have Wall Street
After weeks of drift and doubt, Wall Street was looking for a decisive signal on price growth to help put the reflation trade back on track. Instead it got another mixed message.
NEW YORK (Reuters) – Wall Street ended a see-saw session lower on Wednesday as market participants awaited inflation data for clues as to when the U.S. Federal Reserve might tighten its dovish monetary policy.
Early investors in AMC (NYSE:AMC) got their payday last week when the stock jumped from low double-digits to $72. Anyone who bought $20 options before the Memorial Day weekend would have turned $1,000 into $116,000.
AMC Entertainment, the meme stock that amazed Wall Street recently, rallied double digits on Monday as speculative trading activity in the struggling movie theater gained steam.
(Reuters) -Shares of AMC Entertainment Holdings Inc and other “meme stocks” jumped on Monday, extending a rally in social-media favorites into a third week as message boards hummed with talk of squeezing Wall Street short-sellers.
Wall Street’s top brokers are quietly tightening their rules for who can bet against retail traders’ most-popular meme stocks.