Credit Suisse Must Face Suit Over Failed Play on Fear Index
This content was published on April 27, 2021 - 15:58
April 27, 2021 - 15:58
(Bloomberg) Credit Suisse Group AG must face allegations that it engineered a complex fraud to sink an investment vehicle and profit on investors’ losses, after an appeals court revived the claims.
The lawsuit, filed in 2018, claimed investors lost $1.8 billion in the Feb. 5, 2018, collapse of the market for VelocityShares Daily Inverse VIX Short Term Exchange Traded Notes, known as “XIV Notes,” a derivative investment that increased in value when the stock market was calm and decreased when it was volatile.
Wall St rallies on strong economic data
HIGH HOPES: Forty percent of the S&P 500’s market cap are to issue their earnings results next week, and expectations have been growing in the past few weeks
Reuters
US stocks rallied on Friday, driving the S&P 500 to a near-record closing high, after factory data and new home sales underscored a booming economy while megacap stocks rose in anticipation of strong earnings reports next week.
The bounceback follows a sell-off on Thursday when reports that US President Joe Biden plans to almost double the capital gains tax spooked investors.
Analysts dismissed the slide as a knee-jerk reaction and pointed to the healthy outlook.
The Most Frequently Asked Questions About The Stock Market In 2021 streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.
Believe the Hype (This Time, at Least)
There’s a lot of suspicion of daily economic journalism, much of it justified. People like me have to find something to say about markets and the economy every day. There are moves in markets throughout the working week, and new data most days. When everything else is quiet, there is an inevitable tension to over-hype changes that don’t matter that much. This is a temptation that all economic journalists must try to resist.
One problem with the over-excitability about daily data is that people might not realize when something astonishing really has happened. So, to be clear: this week’s data from the U.S. are something very special. We knew a recovery was going on, and we could guess that repeated stimulus would juice it a bit, but the data confirm an amazing rally.
Will Banks Finally Buy Into Bitcoin? forbes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forbes.com Daily Mail and Mail on Sunday newspapers.