Day: April 30, 2018

Speculative Positioning in the Currency Futures

Sentiment has swung back in favor of the dollar.   The price action has forced many non-believers to take seriously the possibility that interest rates do ultimately matter and the perceived desire of the Trump Administration does not stand in the way of a stronger dollar.   Speculative market positioning is slower to change, and that is …

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Merger Monday

Three large corporate deals were announced.   T-Mobile appears to have finally figured a way to secure Sprint.  It is a $26.5 bln equity tie-up.  Marathon Petroleum is reportedly taking Andeavor for $20  bln in cash and stock.  Sainsbury is reportedly in advanced talks to buy Walmart’s Asda chain for GBP7.3 bln (~$10 bln) in an equity and …

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