- Business Insider
Stocks could tank after an ill-advised 'melt-up' if the Fed cuts rates to avoid recession
"Investors' expectation that the Fed would nip a recession in the bud by easing means that the Fed Put is back," Ed Yardeni said.
- Reuters
JPMorgan's Australia arm fined $509,000 for allowing suspicious client orders
The Australian Securities and Investments Commission (ASIC) said it found J.P. Morgan Securities' failure to identify the suspicious trades to be "careless" and that it should have acted more expeditiously when the regulator flagged the transactions. "JPMSAL (J.P. Morgan Securities) has resolved this matter," a JPMorgan spokesperson told Reuters. JPMorgan did not contest the allegations against it and paid the penalty amount, the regulator said.
- Reuters
UPDATE 3-BOJ board turned hawkish in April, many saw need for more rate hikes-summary
Bank of Japan board members turned overwhelmingly hawkish at their April policy meeting with many calling for the need to raise interest rates steadily to forestall risks of an inflation overshoot, a summary of opinions at the meeting showed. Some members saw the chance of a faster-than-expected pace of interest rate hikes on heightening prospects of inflation durably staying, or even exceeding, the BOJ's 2% target, the summary showed on Thursday. The debate underscores BOJ Governor Kazuo Ueda's recent remarks signalling the chance of multiple rate hikes ahead, and heightens the possibility of an increase in short-term borrowing costs in coming months.
