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Data-Crunching Wall Street Skeptics Sit Out the Turnaround Trade

(Bloomberg) -- Michael Mullaney’s mind was elsewhere during the market rebound this week, even as stocks surged, borrowing costs for Corporate America eased and Treasuries settled down.Most Read from BloombergTrump Gives New York ‘One Last Chance’ to End Congestion FeeWhy Car YouTuber Matt Farah Is Fighting for Walkable CitiesBackyard Micro-Flats Aim to Ease South Africa’s Housing CrisisThe Racial Wealth Gap Is Not Just About MoneyNewsom Says California Is Now the World’s Fourth-Biggest EconomyI

Why Bitcoin Miners Soared This Week

Bitcoin (CRYPTO: BTC) has been on fire this week, rising 12% over the past seven days as of 2 p.m. ET on Friday. Bitcoin, in particular, has proven to be highly correlated with growth stocks and magnifies the market's move in general. What's interesting about the move recently is that Bitcoin hasn't been a hedge to the market or a safe haven to investors.

Fed survey finds global trade fight, policy uncertainty top financial stability risks

WASHINGTON (Reuters) -Rising risks around global trade, general policy uncertainty, and the sustainability of U.S. debt topped the list of potential risks to the U.S. financial system in a new Federal Reserve survey released on Friday. The bi-annual Fed survey of financial risks was the first since President Donald Trump returned to office, and the impact of his aggressive policy agenda was apparent, especially around tariffs. Seventy-three percent of respondents cited global trade risks as a top concern, more than twice the number reported in November.