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Morgan Stanley Warns Currency Traders Worst to Come for Dollar

Morgan Stanley Warns Currency Traders Worst to Come for Dollar
The dollar is set to fall 5 percent in the next few months, the Federal Reserve isn’t raising interest rates anytime soon and U.S. economic data is only going to get worse. That’s what Morgan Stanley chief global currency strategist Hans Redeker told clients in a note published Thursday, citing in-house indicators showing U.S. domestic demand is set to fade in the coming months. It didn’t take long for markets to prove him prescient. The greenback fell 1.3 percent Friday, capping its worst week since April, after the Commerce Department said U.S. second-quarter gross domestic product advanced at about half the rate economists... Continue reading
Original Author:Rebecca Spalding Source:Bloomberg.com

Gold Rally Just Getting Warmed Up According To UBS, Credit Suisse

Gold Rally Just Getting Warmed Up According To UBS, Credit Suisse
It’s been a stellar six months for gold investors. The yellow metal has surged 28 percent year-to-date, its best first half of the year since 1974, and there are signs that the rally is just getting started. That’s the assessment of analysts from UBS and Credit Suisse, who see gold entering a new bull run. According to UBS analyst Joni Teves, gold could climb to $1,400 an ounce in the short term on macroeconomic uncertainty, dovish monetary policy and lower yields. “These factors,” Teves writes, “justify strategic gold allocations across different types of investors” and should encourage hesitant investors to participate. ... Continue reading
Original Author:Frank Holmes Source:Forbes.com

This Is Why the World’s Most Successful Investors Are Buying Gold Now

This Is Why the World’s Most Successful Investors Are Buying Gold Now
Don't make the mistake of ignoring what an all-star roster of the world's richest investors is doing right now. They are buying billions of dollars' worth of gold. (This is one of many reasons that it makes a lot of sense to have gold in your portfolio. We explain the why and the how in a free 22-page special report you can download here.) For example, hedge fund legend Stanley Druckenmiller has earned an average of 30% a year for 30 years, without a single negative year. And currently, 18% of Druckenmiller's portfolio is made up of the SPDR Gold Trust  (GLD) , an exchange-traded fund that tracks the price of gold bullion. ... Continue reading
Original Author:Kim Iskyan Source:TheStreet.com

SEC Approves Plan to Issue Stock Via Bitcoin’s Blockchain

SEC Approves Plan to Issue Stock Via Bitcoin’s Blockchain
THE SECURITIES AND Exchange Commission has approved a plan from online retailer Overstock.com to issue company stock via the Internet, signaling a significant shift in the way financial securities will be distributed and traded in the years to come. Over the past year, Overstock and its freethinking CEO, Patrick Byrne, have developed technology for issuing financial securities by way of the blockchain, the vast online ledger underpinning the bitcoin digital currency. The blockchain is essentially an enormous database that runs across a global network of independent computers. With bitcoin, this ledger tracks the exchange of... Continue reading
Original Author:ANDREW HARNIK Source:WIRED

There’s a new cryptocurrency coming, and it’s backed by gold

There’s a new cryptocurrency coming, and it’s backed by gold
There's a new cryptocurrencycoming to the market. What makes it unique to existing cryptocurrencies like Bitcoin? It's backed by gold. Anthem Vault, the metals and technology company, will launch the coin on May 25. The coin will "be valued at 1 gram of gold at the day's market price, [and] will serve as a more secure store of value than Bitcoin," according to the press release. It will be called the Hayek, "after the Nobel-winning Austrian economist Friedrich Hayek." Anthem Blanchard, the CEO of Anthem Vault, told Business Insider that "gold is arguably the most trusted store of value of all time," which is why he... Continue reading
Original Author:Shane Ferro Source:Business Insider

Malcolm Turnbull on hand as new IPO investment app launches

Malcolm Turnbull on hand as new IPO investment app launches
Two pioneering Australian fintech companies were off and running on Wednesday under the pleased eye of trumpeter of innovation and Prime Minister, Malcolm Turnbull. Sydney-based company OnMarket Book Build launched an online platform to allow retail investors to bid on IPO stock, and Bitcoin Group, will be the IPO guinea pig, hoping to raise $20 million. In a bid to open up the IPO market, OnMarket Book Build has developed an app enabling retail investors to access the Australian Securities Exchange's infrastructure and make live bids for companies raising equity, traditionally the sole realm of institutional bankers and... Continue reading
Original Author:Jessica Sier Source:Financial Review