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'Stonk' rally continues amid US investigation into GameStop mania


While viewers of the GameStop US congressional hearing were hit with tales of newbie day traders getting clobbered for dabbling in the loopiest meme stocks, those wounds are healing fast.
Stocks whose volatility briefly got too hot for Robinhood to handle have emerged a month later as winners.
Ten of 50 companies put on the broker’s restricted list have surged more than 50pc since the episode peaked, while the average stock caught up in the maelstrom is up 24pc.
Six of them – fast-growing stonks popular with amateur traders – are up at least 90pc since January 28, countering the narrative that retail investors have been whacked since GameStop s demise. ....

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Asian Stocks Set to Retreat; Treasury Yields Rise: Markets Wrap

(Bloomberg) U.S. stocks finished mostly lower as benchmark Treasury yields climbed to the highest levels in a year, renewing concern that rising borrowing costs and price pressures could derail the economic recovery.The S&P 500 Index turned negative in the final minutes of trading Friday, ending lower for the first week in three. Utilities and consumer staples led the declines, while the materials and energy sectors finished in the green. The tech-heavy Nasdaq 100 was weighed down by Microsoft Corp. and Facebook Inc.“The two big things right now are waiting for stimulus and this idea of the reflation trade investors have a keen eye out for signs of inflation,” said Shawn Snyder, head of investment strategy at Citi Personal Wealth Management. “You see Treasury yields moving higher, that’s causing a bit of consternation in the markets.”Corporate earnings reports had given investors something to think about on Friday other than the relentless ri ....

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Stocks Drop Amid Focus on Bond Yields; Oil Slides: Markets Wrap

(Bloomberg) U.S. stocks finished mostly lower as benchmark Treasury yields climbed to the highest levels in a year, renewing concern that rising borrowing costs and price pressures could derail the economic recovery.The S&P 500 Index turned negative in the final minutes of trading Friday, ending lower for the first week in three. Utilities and consumer staples led the declines, while the materials and energy sectors finished in the green. The tech-heavy Nasdaq 100 was weighed down by Microsoft Corp. and Facebook Inc.“The two big things right now are waiting for stimulus and this idea of the reflation trade investors have a keen eye out for signs of inflation,” said Shawn Snyder, head of investment strategy at Citi Personal Wealth Management. “You see Treasury yields moving higher, that’s causing a bit of consternation in the markets.”Corporate earnings reports had given investors something to think about on Friday other than the relentless ri ....

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Citi consolidates wealth businesses


Mortgage Business
19 January 2021
The global bank has merged the wealth management teams in global consumer banking and institutional clients divisions to form a single wealth management organisation.
Citi has unified the wealth teams from its global consumer banking and its institutional clients group to form a new wealth unit, Citi Global Wealth.
The single integrated platform now includes Citi Private Bank and Citi Personal Wealth Management businesses. 
Citi Private Bank serves more than 13,000 ultra-high-net-worth clients, with around US$550 billion ($714 billion) in total client business. The group reported that its clients now include 25 per cent of the world’s billionaires and more than 1,400 family offices in more than 100 countries.  ....

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