Business

While Jamie Dimon, Warren Buffett, Ray Dalio and Larry Fink have all revealed themselves to be skeptics of bitcoin, accusing it of being a bubble, at best, and a fraud, at worst, one longtime investor who made his name scooping up “value” stocks in the 1990s has quietly posted astonishing returns betting on the digital currency, predating a wave of more than 100 asset-management shops that have sprung up to manage portfolios of cryptocurrencies.

As US GDP growth rises at 3% or more for the second quarter in a row, French investment bank Natixis urges investors to prepare for the U.S. economy to "slow down substantially" as early as 2018.

https://player.cnbc.com/p/gZWlPC/cnbc_global

Patrick Artus, chief economist at Natixis, warned that the current level of corporate investment is "abnormally high" and suggested a downward correction.

How things change in crypto - in January 2017, before the crackdown by the authorities, China accounted for nearly 100% of bitcoin trading...

In the “golden era” of Chinese crypto trading, mainland operators built up considerable expertise before they were forced out of business. Some of those operators of Chinese exchanges are setting up again in “friendlier” jurisdictions around Asia, as Bloomberg reports, and their aspirations are global.

With Brexit negotiations still at a delicate stage, here’s the first bit of good news for the City of London in some time...

As The Telegraph reports, the boss of Swiss bank UBS has said plans to move 1,000 jobs from London as a result of Brexit are now looking "more and more unlikely". 

Back in July, Deutsche Bank's derivative strategist Aleksandar Kocic believed he had found the moment the market broke, which he defined as a terminal dislocation between market and economic policy uncertainty: as he wrote 4 months ago, it was some time in 2012 that markets "lost their capacity to deal with uncertainty.”