On The Wire: Today's Top Stories In Finance & Tech

Welcome to your daily briefing, where we bring you stories from the forefront of finance, technology, and market analysis, sent directly to your inbox.

In today's roundup, falling inflation injects confidence into the markets, even risky AT1 bonds. Sam Altman has been pushed out of his own company, and Argentina has a new president—albeit one who isn't to everyone's tastes. We also take a look at the changing crypto ETF landscape, and how our economy's manic depression needs a different treatment.

November 20 REX Wire Market Outlook

With inflation finally under control, traders have confidence that we've seen the last of the interest rate rises for this cycle. That, in turn, has weakened the dollar and put a rocket under risk assets, with the S&P500 and bitcoin powering higher.

November 20 REX Wire Market Outlook

Inflation is coming down, a soft landing is in sight, and risk assets are storming ahead.

REX WireBender Smort

Sam Altman Exits OpenAI, Emmett Shear Steps In As Interim CEO

OpenAI confirms Sam Altman's exit as CEO, appointing Emmett Shear as interim leader. Altman, with co-founder Greg Brockman, is now exploring a new AI startup, attracting notable tech investor interest.

Sam Altman Exits OpenAI, Emmett Shear Steps In As Interim CEO

Sam Altman exits as OpenAI CEO; Emmett Shear steps in amid board communication concerns.

REX WireAndres Luke

Javier Milei Triumphs In Argentina's Presidential Race

Javier Milei, a radical libertarian, wins Argentina's presidential election with 55.8% of the vote. He pledges major economic reforms and dollarization to combat 142.7% inflation. Despite controversy over his extreme views, Milei's victory ends the long-standing Peronist rule and hints at a new political era in Argentina.

Javier Milei Triumphs In Argentina’s Presidential Race

Javier Milei wins Argentina’s presidential election, promising a radical shift in economic policies amidst the country’s deepening crisis.

REX WireAndres Luke

Bitcoin Options Open Interest Hits All-Time High

OI on Deribit, the leading options and futures exchange, has passed $15 billion. This indicates that experienced traders are returning to a hated and feared market. In particular, they are betting that BTC will rise in price by the end of the year.

Bitcoin Options Open Interest Hits All-Time High

Traders are betting in record numbers that BTC will rise in price by the end of the year.

REX WireBender Smort

Bank Investors' Enthusiasm For AT1 Bonds Belies Past Caution

Bank investors show renewed interest in AT1 bonds, exemplified by UBS's $3.5 billion issuance, despite past issues like Credit Suisse's AT1 wipeout. The market's resilience raises questions about the long-term viability of these instruments.

Bank Investors’ Enthusiasm For AT1 Bonds Belies Past Caution

Despite past setbacks, bank investors display renewed enthusiasm for AT1 bonds, as UBS’s recent issuance garners significant demand, challenging earlier skepticism.

REX WireAndres Luke

Shift in Monetary Policy: ECB and BoE Likely To Cut Rates Sooner

Investors expect the ECB and BoE to cut rates sooner due to economic slowdown signs in the eurozone and UK, despite central banks' warnings about ongoing inflation. Recent data shows weak retail sales and industrial production, prompting a shift from earlier predictions of late rate cuts.

Shift In Monetary Policy: ECB and BoE Likely To Cut Rates Sooner

Investors anticipate earlier interest rate reductions by the ECB and the BoE, driven by recent economic data.

REX WireAndres Luke

Bitcoin ETFs At A Crossroads With Looming Spot Products

A critical question regarding the topic of the article could be: "Will the introduction of spot bitcoin ETFs genuinely offer a more secure and cost-effective investment option, or will they simply replicate the volatility and regulatory challenges associated with current futures-based bitcoin ETFs?"

Bitcoin ETFs At A Crossroads With Looming Spot Products

The SEC’s upcoming decision on spot bitcoin ETFs could redefine the landscape for Bitcoin investment strategies.

REX WireAndres Luke

Markets Are Manic Depressive, Equilibrium Is Elusive

Nearly 15 years ago, Czech economist Tomas Sedlacek noted that prioritizing GDP growth forced the economy into wild swings between excess and recession. Today, as US government debt nears $34 trillion, his treatment seems timely.

Markets Are Manic Depressive, Equilibrium Is Elusive

In his landmark book, Sedlacek argued that minimizing debt, not maximizing GDP, should be the goal of economic policy.

REX WireBender Smort

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