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Big Money, Day Traders Both Love Japan Tech Darling Mercari

October 13, 2020

(Bloomberg) — Mercari Inc., the online flea-market operator that has become one of Japan’s most closely watched tech ventures, is closing in on new highs as the stock has drawn both big and small money.

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The company has already grown to command the largest weighting on Japan’s startup-focused Mothers index as individual investors buy in — of some 230 of the largest Japanese companies with market value of over $5 billion, Mercari has the third-highest percentage of individual shareholders. Then on Oct. 7, Los Angeles-based money manager Capital Group declared it had taken a 5% stake in Mercari.

That’s helping propel the stock to near the 6,000 yen mark it hit just once, on the day it listed to great fanfare in 2018. After a rapid decline, the stock has worked its way back up this year, fueled by its first quarterly operating profit. That’s been helped by

Big Money and Day Traders Alike Love Japan Tech Darling Mercari

October 13, 2020

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(Bloomberg) — Mercari Inc., the online flea-market operator that has become one of Japan’s most closely watched tech ventures, is closing in on new highs as the stock has drawn both big and small money.

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The company has already grown to command the largest weighting on Japan’s startup-focused Mothers index as individual investors buy in — of some 230 of the largest Japanese companies with market value of over $5 billion, Mercari has the third-highest percentage of individual shareholders. Then on Oct. 7, Los Angeles-based money manager Capital Group declared it had taken a 5% stake in Mercari.

That’s helping propel the stock to near the 6,000 yen mark it hit just once, on the day it listed to great fanfare in 2018. After a rapid decline, the stock has worked its way back up this year, fueled by its first quarterly operating profit. That’s been helped by

Are Options Traders Betting on a Big Move in Centennial Resource Development (CDEV) Stock?

October 9, 2020

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Investors in Centennial Resource Development, Inc. CDEV need to pay close attention to the stock based on moves in the options market lately. That is because the Jan 15, 2021 $1.00 Call had some of the highest implied volatility of all equity options today.

What is Implied Volatility?

Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there is an event coming up soon that may cause a big rally or a huge sell-off. However, implied volatility is only one piece of the puzzle when putting together an options trading strategy.

What do the Analysts Think?

Clearly, options traders are pricing in a big move for Centennial Resource Development shares, but what is the fundamental picture for

Super long JGB yields rise after BOJ ops, traders await U.S. stimulus details

October 9, 2020

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TOKYO, Oct 9 (Reuters) – Japanese government bond yields at the long end of the curve rose on Friday after a Bank of Japan debt buying operation showed investors had strong interest in selling longer-dated paper.

Other sections of the yield curve were little changed as traders awaited further details on negotiations between Republicans and Democrats over additional U.S. economic stimulus.

Benchmark 10-year JGB futures 2JGBv1 rose 0.03 point to 151.91, with a trading volume of 14,143 lots.

The 10-year JGB yield JP10YTN=JBTC fell 0.5 basis point to 0.030%.

The 20-year JGB yield JP20YTN=JBTC was flat at 0.400%, and the 30-year JGB yield JP30YTN=JBTC was also unchanged at 0.630%.

The 40-year JGB yield JP40YTN=JBTC rose 0.5 basis point to 0.655%.

The five-year yield JP5YTN=JBTC rose 0.5 basis point to minus 0.100%.

At the short end of the curve, the two-year JGB yield JP2YTN=JBTC rose 0.5 basis point to minus 0.130%.

Top global traders push to cut shipping emissions

October 7, 2020

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By Jonathan Saul

a large ship in the water: FILE PHOTO: Shipping containers sit at the Port of Long Beach in Long Beach, California

© Reuters/Bob Riha Jr
FILE PHOTO: Shipping containers sit at the Port of Long Beach in Long Beach, California

LONDON (Reuters) – Some of the world’s biggest commodities and energy players on Wednesday launched an initiative to cut and track emissions from the ships they charter as efforts intensify to reduce the maritime industry’s carbon footprint.

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About 90% of world trade is transported by sea, and the UN shipping agency – the International Maritime Organization (IMO) – aims to reduce overall greenhouse gas emissions by 50% from 2008 levels by 2050.

Carbon emissions from shipping rose in the six-year period to 2018 and accounted for 2.89% of the world’s CO2, the latest IMO-commissioned study showed, mounting pressure on the industry to bring levels down.

Under the Sea Cargo Charter, 17 companies, including agrigroups Cargill, ADM and Bunge, oil majors Royal Dutch Shell and Total and

FedEx, UPS stock Q3: Traders are backing transports

October 1, 2020

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Two transport titans speeded higher in the past three months.

FedEx closed the third quarter nearly 80% higher, its best quarterly gain since 1998. UPS, meanwhile, ended 50% higher in its best quarterly performance since going public in 1999.

The two have benefited from tailwinds that should power gains in the entire transports sector in the final stretch of 2020, said Steve Chiavarone, portfolio manager at Federated Hermes.

“We really like transports here. We think that they’re one of the few industry groups that have the ability to [do] well in the stay at home kind of Covid world, but also in an economic recovery world,” Chiavarone told CNBC’s “Trading Nation” on Wednesday.

He said increased e-commerce should drive business-to-consumer activity, while a pickup in the economy should boost business-to-business.

“The third quarter of this year is supposed to be a 25% year-over-year increase in GDP. That’s the biggest quarterly

Cross-Currents Are Keeping Traders In Check For Now (Technically Speaking For 9/30)

September 30, 2020

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The ADP jobs report was strong (emphasis added):

Private sector employment increased by 749,000 jobs from August to September according to the September ADP National Employment Report.

Also from the report:

The best news is that growth is spread over a number of industries.

And, it’s the strongest total in the last three months:

This bodes well for Friday’s jobs report.

Chinese manufacturing is back (emphasis added):

The headline seasonally adjusted Purchasing Managers’ Index – a composite indicator designed to provide a single-figure snapshot of operating conditions in the manufacturing economy – edged down from 53.1 in August to 53.0 in September, to signal a further solid improvement in the health of the sector. Operating conditions have now strengthened in each of the past five months. Notably, the latest reading rounded off the best quarterly performance since Q4 2010.

Chinese manufacturers recorded a sharp and accelerated increase in total new

JPMorgan Admits Spoofing by 15 Traders, Two Desks in Record Deal

September 29, 2020

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(Bloomberg) — JPMorgan Chase & Co. admitted wrongdoing and agreed to pay more than $920 million to resolve U.S. authorities’ claims of market manipulation involving two of the bank’s trading desks, the largest sanction ever tied to the illegal practice known as spoofing.

a person holding a sign: A man carrying a briefcase walks past the JPMorgan Chase & Co. headquarters in New York.

© Photographer: Ron Antonelli/Bloomberg
A man carrying a briefcase walks past the JPMorgan Chase & Co. headquarters in New York.

Over eight years, 15 traders at the biggest U.S. bank caused losses of more than $300 million to other participants in precious metals and Treasury markets, according to court filings on Tuesday. JPMorgan admitted responsibility for the traders’ actions. The Justice Department filed two counts of wire fraud against the bank’s parent company but agreed to defer prosecution related to the charges, under a three-year deal that requires the bank to report its remediation and compliance efforts to the government.

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The settlement included fresh details

Pound Rallies as Traders Bet on a Breakthrough in Brexit Talks

September 28, 2020

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(Bloomberg) —

The pound surged the most in six months on speculation that successful Brexit trade negotiations this week could help shield Britain from a messy rupture with the European Union.

Sterling outperformed major currencies to rise as much as 1.4% to $1.2930, as the markets digested a more conciliatory tone from officials on both sides. Some investors are betting that despite some lingering tensions, the U.K. isn’t in a position to pursue political brinkmanship for much further.

chart: Sterling outperforms peers on hopes for a Brexit deal

© Bloomberg
Sterling outperforms peers on hopes for a Brexit deal

Read More: Brexit Talks Enter Key Week With Time and Trust Running Out

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“Given that we are in the middle of the Covid crisis, I think it is well understood that the U.K. cannot make good on a threat to end up with no deal,” said Mark Dowding, chief investment officer at BlueBay Asset Management.

“Our sense was that

Sterling up over 1% as traders see hope of avoiding cliff-edge Brexit

September 28, 2020

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LONDON (Reuters) – The British pound rose more than 1% on Monday on hopes that Britain could secure a Brexit trade deal with the European Union by October or at least avoid a cliff-edge exit from the bloc.

FILE PHOTO: British five pound banknotes are seen in this picture illustration taken November 14, 2017. REUTERS/Benoit Tessier/File Photo

The EU and Britain kicked off a decisive week of talks on Monday but cautioned that a deal was still some way off.

A final agreement must be reached by the end of December but both sides have set a preliminary deadline for next month as it will take some time to sign off any deal.

The pound’s gains were fuelled by an EU diplomat saying last week that “the mood music was a bit better” after Britain’s Brexit supremo Michael Gove expressed confidence about securing a trade deal.

“If discussions this week