CME Group has been deepening its involvement in the cryptocurrency space for a while.
By December 2020, the company was averaging $880 million in daily trading volume for its bitcoin futures contracts.
Then, CME Group to announce the launch of ether futures contracts for its institutional traders.
CME Group has also reported robust financial health in the first quarter of 2021, with a reported revenue of $1.3 billion and over half a billion dollars in net income.
Having written $4.6 billion off the value of the businesses in 2018, Verizon will get just $4.25 billion in cash from private equity firm Apollo Global, along with preferred interests of $750 million and a 10% stake in the unit – about half of what it had paid for the businesses.
If it were to stay at that level though, Crandall believes the Fed “would probably move promptly” to adjust the interest on excess reserves rate and the rate for the Fed’s reverse repurchase agreement facility, even as it keeps its main target range unchanged.Officials from the central bank, including Chair Jerome Powell and the New York Fed’s Lorie Logan, have said in recent months that they are open to adjusting administered rates as needed.Rates for short-term dollar borrowing have been driven to zero and below, weighed down by Fed asset purchases, a drawdown of the U.S.
— The parent company behind the popular Grayscale Bitcoin Trust said it’s upping the amount of shares it plans to purchase as the fund remains at a deep discount to its holdings.Barry Silbert’s Digital Currency Group Inc., which controls Grayscale Investments, said Monday it will now buy up to $750 million GBTC shares.
Taiwan Semiconductor Manufacturing Co Ltd expects to be able to catch up with the “minimum requirement” of customer demand for auto chips by the end of June, its chairman told U.S.
The S&P 500 and the Dow indexes ended higher on Monday amid a largely upbeat earnings season, while the Nasdaq came under pressure from declines in some high-flying growth stocks, as the rotation into cyclical and “economy reopening” stocks continued.
Gold may continue to gain support from the Fed’s dovish approach and a weaker dollar, according to Angel Broking Ltd.’s analysts Prathamesh Mallya and Yash Sawant.The metal could gain further impetus amid expectations that outflows from gold-backed exchange traded funds will start to reverse, according to Carsten Fritsch, an analyst at Commerzbank AG.“We expect ETFs to begin registering inflows again in the second half of the year at the latest, and that this will help the gold price climb by year’s end to $2,000,” Fritsch said in a note.Copper futures for July delivery rose 1.4% to settle at $4.5285 a pound on the Comex.Japan, China and the U.K.
employment report is released on FridayThese are some of the main moves in markets:StocksThe S&P 500 rose 0.3%The Nasdaq 100 fell 0.4%Australia’s S&P/ASX 200 Index futures rose 0.2%Hang Seng Index futures added 0.8%CurrenciesThe yen traded at 109.07 per dollarThe offshore yuan was at 6.4714 per dollarThe Bloomberg Dollar Spot Index fell 0.3%The euro traded at $1.2064BondsThe yield on 10-year Treasuries declined almost three basis points to 1.60%CommoditiesWest Texas Intermediate crude rose 1.4% to $64.49 a barrelGold futures rose 1.3% to $1,792.90 an ounceFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.