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Swiss customs data: Swiss seasonally adjusted watch exports rose 4.6% year-on-year in December, on a nominal basis, to CHF 2.15 billion.On January 29th, Mike Sanders, head of fixed income at Madison Investments, stated in a report that regardless of who is nominated, the next Federal Reserve chair will find it difficult to implement openly politically driven interest rate policies. He indicated that even appointing a more dovish candidate would be constrained by the cautious and conservative Federal Open Market Committee. "Attempting aggressive moves at the front of the yield curve is likely to lead to higher long-term yields, ultimately contradicting the original policy objectives," Sanders said.Singapores fuel oil inventory for the week ending January 28 will be released in ten minutes.On January 29th, Scott Helfstein, Head of Investment Strategy at Global X, stated in a report that real interest rates may still be too high, potentially prompting the Federal Reserve to cut rates again soon. "This leads us to believe that the Fed may remain more dovish than the market expects and cut rates again as early as the first quarter," he said. Helfstein believes the current market is likely driven by fundamentals, and the earnings season so far has met high expectations, with many companies reiterating their guidance.On January 29th, Principal Asset Managements Global Chief Strategist, Hima Shah, stated that Federal Reserve Governor Wallers dissenting vote on the Feds decision to keep interest rates unchanged solidifies his position as a contender for Fed Chair. "More importantly, his argument that policy needs to move closer to a neutral stance is likely to gain more support over time—especially as signs of a cooling labor market become more concrete and the downward trend in inflation persists," Shah said.

New FTX chief says bankrupt crypto exchange could restart

Skylar Shaw

Jan 20, 2023 11:43

According to Chief Executive Officer John Ray, the bankrupt cryptocurrency exchange FTX is considering ways to resurrect its operations. He made the announcement to the Wall Street Journal on Thursday.


According to Ray, who took over the company's leadership in November, a task group has been established to look at reviving FTX.com, the organization's primary international exchange.


The CEO also said in an interview with the Journal that he would research if resurrecting FTX's international exchange would generate more value for the company's clients than his team could get by simply selling the platform or liquidating its assets.


Following the news, FTT, the native token of FTX, increased by around 30%.


I'm relieved Mr. Ray is now only pledging to restart the exchange after months of blocking such attempts! Sam Bankman-Fried, the founder and former CEO of FTX, said in a tweet.


Bankman-Fried said, "I'm still waiting for him to eventually acknowledge FTX US is solvent and return clients' money.


An inquiry for comment from Reuters was not immediately answered by an attorney representing FTX.


Bankman-Fried is accused of robbing the exchange's users of billions of dollars to settle debts accrued by his cryptocurrency-focused hedge fund, Alameda Research. He's denied the allegations of fraud.


Customer money' future, however, is still unknown. In a note to creditors earlier this week, FTX said that since declaring bankruptcy in November, hackers had stolen nearly $415 million in cryptocurrency from its worldwide and American exchanges.


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