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In our latest FX Moment podcast, host Audrey Childe-Freeman, Bloomberg Intelligence (BI) chief G-10 FX strategist, discusses the dollar's prospects in the wake of recent US macro news flow with Brad Bechtel, global head of FX sales and trading at Jefferies LLC. Brad and Audrey look at how the unexpectedly strong turn in US data has revived broad dollar strength, consistent with Brad's base case. Yet, given ever-changing G10-FX drivers and narratives, both favor taking a quarter-by-quarter approach. Audrey and her guest agree the cost-of-carry conundrum won't be solved by the Bank of Japan ending YCC, or even modest rate rises. In the near term, they think yen bulls may look for Swiss-yen downside and forget about a sustainable decline in dollar-yen for now -- the latter pair may reach 152 before it reaches 140.
In this episode, DLA Piper managing partner Emilio Ragosa is joined by Kevin Sheridan, Joint Global Head of Healthcare Investment Banking at Jefferies LLC, to discuss the importance of advisors having an understanding of the life sciences industry in order to provide value-added advice on transactions, including public offerings and M&A. See omnystudio.com/listener for privacy information.
"Be Water, My Friend. Empty your mind. Be formless, shapeless, like water. You put water into a cup, it becomes the cup. You put water into a bottle, it becomes the bottle. You put it into a teapot, it becomes the teapot. Now water can flow or it can crash. Be water, my friend." -- Bruce Lee After all of the bullshit of the past couple of years… what do you do? How do you evolve? In these turbulent times, are we reinventing ourselves? Are we reimagining ourselves? Are you a sequel? Are you a reboot? We're stepping well outside the normal conventions of our tech industry chats for this one. Matt Stephenson welcomes back C-Suite Exec and Board Member at Large Bill Hunter to for a free for all chat about what life looks like for an industry leader and corporate executive as we are supposedly entering a post-pandemic world. What do you do to stay sane after the recent insanity? Be Water My Friend… so sayeth the Master. About Bill Hunter Bill Hunter is Strategic and Financial C-Suite Executive and Board Member as well as SPAC leader. He is a respected and experienced Industrial and Renewable Materials Private Equity and C-Suite professional helping to transition companies in an ESG focused environment. Bill is on the Board of Directors at American Battery Metals Corp., AMCI Euro-Holdings BV and Advent Technologies Holdings, Inc. He was previously employed as a President, CEO, CFO & Director by AMCI Acquisition Corp., a Managing Director by Dahlman Rose & Co. LLC, a Vice President by BMO Nesbitt Burns, Inc. (US), an Associate by NatWest Markets Equity Corp., a Financial Analyst by KPMG LLP, a Principal by Jefferies LLC, and a Principal by TD Securities (USA) LLC. He also served on the board at Nomura Securities International, Inc. and Teneo Capital LLC. He received his undergraduate degree from DePaul University, an MBA from Kellstadt Graduate School of Business and an MBA from DePaul University About Matt Stephenson My name is Matt Stephenson (@packmatt73) and I have hosted podcasts, videos and live events all over the world which put me with experts on every corner of the cybersecurity landscape. pm73media is my first solo endeavor. On this platform and others to come, I will continue to expand upon the tradition we started with the Insecurity podcast as I seek out the leading minds in the tech industry and beyond. I am always looking for fun people who may break things every now and again. In 20 years in the ecosystem of Data Protection and Cybersecurity I have toured the world extolling the virtues of Artificial Intelligence and Machine Learning and how, when applied to information security, these technologies can wrong-foot the bad guys. Whether in person, live virtual events or podcasting, I get to interview interesting people doing interesting things all over the world of technology and the extended world of hacking. Sometimes, that means hacking elections or the coffee supply chain... other times that means social manipulation or the sovereign wealth fund of a national economy. Wherever I go, my job is all about talking with the people who build, manage or wreck the systems that we have put in place to make the world go round... If you tuned in to any of my previous podcasts, there's great news…! pm73media is here! I will be bringing the same kind of energy and array of guests you know and love. Best part? We're still at the same spot. You can find it at Spotify, Apple, Amazon Music & Audible as well as GooglePlay, Gaana, Himalaya, I Heart Radioand wherever you get your podcasts! Make sure you Subscribe, Rate and Review!
Oral Arguments for the Court of Appeals for the Second Circuit
Jefferies LLC v. Gegeheimer
“You got ninety percent of the American public out there with little or no net worth. I create nothing. I own. We make the rules, pal. The news, war, peace, famine, upheaval, the price per paper clip. We pick that rabbit out of the hat while everybody sits out there wondering how the hell we did it. Now you're not naive enough to think we're living in a democracy, are you buddy? It's the free market. And you're a part of it. You've got that killer instinct. Stick around pal, I've still got a lot to teach you” -- Gordon Gekko; Wall Street, Oliver Stone, 1987 We’re stepping outside the normal conventions of cybersecurity for this one. Matt Stephenson welcomes in Advent Technologies President and CFO Bill Hunter to discuss the recent madness in the stock market. When Redditors started flexing their ability to move markets with tools like rocket emojis and a lexicon that brought “tendies” and “diamond hands” to the common language… was that a Hack? Take a listen and decide for your self. About William Hunter William Hunter is Chief Financial Officer & Director at Advent Technologies Holdings, Inc. He is on the Board of Directors at American Battery Metals Corp. (Nevada), AMCI Euro-Holdings BV, Ridley Terminals, Inc. and Advent Technologies Holdings, Inc. Mr. Hunter was previously employed as a President, CEO, CFO & Director by AMCI Acquisition Corp., a Managing Director by Dahlman Rose & Co. LLC, a Vice President by BMO Nesbitt Burns, Inc. (US), an Associate by NatWest Markets Equity Corp., a Financial Analyst by KPMG LLP, a Principal by Jefferies LLC, and a Principal by TD Securities (USA) LLC. He also served on the board at Nomura Securities International, Inc. and Teneo Capital LLC. He received his undergraduate degree from DePaul University, an MBA from Kellstadt Graduate School of Business and an MBA from DePaul University About Matt Stephenson Insecurity Podcast host Matt Stephenson (@packmatt73) leads the Broadcast Media team at BlackBerry, which puts me in front of crowds, cameras, and microphones all over the world. I am the regular host of the InSecurity podcast and video series at events around the globe. I have spent the last 10 years in the world of Data Protection and Cybersecurity. Since 2016, I have been with Cylance (now BlackBerry) extolling the virtues of Artificial Intelligence and Machine Learning and how, when applied to network security, can wrong-foot the bad guys. Prior to the COVID shutdown, I was on the road over 100 days a year doing live malware demonstrations for audiences from San Diego to DC to London to Abu Dhabi to Singapore to Sydney. One of the funniest things I've ever been a part of was blowing up a live instance of NotPetya 6 hours after the news broke... in Washington DC... directly across the street from FBI HQ... as soon as we activated it a parade of police cars with sirens blaring roared past the building we were in. I'm pretty they weren't there for us, but you never know... Every week on the InSecurity Podcast, I get to interview interesting people doing interesting things all over the world of cybersecurity and the extended world of hacking. Sometimes, that means hacking elections or the coffee supply chain... other times that means social manipulation or the sovereign wealth fund of a national economy. InSecurity is about talking with the people who build, manage or wreck the systems that we have put in place to make the world go round... Can’t get enough of Insecurity? You can find us at Spotify, Apple, Amazon Music & Audible as well as ThreatVector, GooglePlay, Gaana, Himalaya, I Heart Radio and wherever you get your podcasts! Make sure you Subscribe, Rate and Review!
Episode 70 – MSO Symposium Goes VirtualAs with every other live event scheduled for 2020, the 9th ASA MSO Symposium will be presented in a virtual format due to the Coronavirus pandemic. Scheduled for November 9-13th, the MSO Symposium will be presented in 90-minute segments each day, providing insight and guidance on the most important issues facing the collision repair industry today and tomorrow. Best of all, this year the MSO Symposium is free to attend! Hear all about it as we announce such important information as:· Speakers such as Vince Romans from the Romans Group, Susanna Gotsch from CCC Information Services and Rex Green from Jefferies LLC will offer a high-level outlook on where the industry is headed.· Panel discussions featuring OEM and Insurance company representatives, along with participants from multi-shop organizations both large and small from across North America.· How to access your complimentary registratiion to attend at no charge this year!· An interview with Jim Keller and Larry French from the 2019 MSO Symposium talking about the value of the information you’ll hear and why you need to be there!· To register for the 2020 Virtual MSO Symposium, just click here
CAPITAL MARKETS PANEL Moderator:Mr. Ted Horton, Partner – Seward & Kissel Panelists: Mr. Loli Wu, Managing Director Investment Banking – Bank of America Merrill Lynch Mrs. Christa Volpicelli, Managing Director & Head of Maritime Investment Banking – Citi Mr. Jae Kwon, Managing Director and Head of Corporate Finance – DNB Mr. Douglas Mavrinac, Managing Director, Global Head Maritime Investment Banking – Jefferies LLC
The numbers: The number of people who applied for unemployment benefits in late August rose slightly to 215,000, but layoffs remain remarkably low more than 10 years after the last recession and show little sign of rising even as the economy faces stiffer headwinds. Initial jobless claims, a rough way to measure layoffs, increased by 4,000 to 215,000 in the seven days ended Aug. 24, the government said Thursday. Economists polled by MarketWatch estimated new claims would total a seasonally adjusted 214,000. What happened: Raw or unadjusted jobless claims jumped by more than 4,500 in New York, likely accounting for most of the increase in claims. New jobless claims were little changed in every other state. The more stable monthly average of new jobless claims, meanwhile, edged down by 500 to 214,500. The four-week average usually gives a more accurate read into labor-market conditions than the more volatile weekly number. Both remain close to a 50-year low, however. The number of people in the U.S. already collecting unemployment benefits, known as continuing claims, climbed by 22,000 to 1.7 million. These claims are near a more than 40-year low. Big picture: Jobless claims are still extremely low and show no sign of rising. The strong labor market is propping up a U.S. economy being buffeted by a trade war with China and a slowing global economy. Consumers are still confident enough to spend and drive the economy forward. There’s probably little reason to worry about until jobless claims shoot above 230,000 and move toward 250,000, economists say. What they are saying? “The labor market remains tight and solid, layoff activity is light and there is no evidence in the economic data that suggests that these conditions will change any time soon,” said Thomas Simons, senior money market economist at Jefferies LLC. Market reaction: The Dow Jones Industrial Average DJIA, +0.81% and the S&P 500 index SPX, +0.84% rose in Thursday trades after China said it would not retaliate immediately to the latest U.S. increase in tariffs. The 10-year Treasury yield TMUBMUSD10Y, +1.99% edged up to 1.51%. Amazing!
The numbers: The number of people who applied for unemployment benefits in late August rose slightly to 215,000, but layoffs remain remarkably low more than 10 years after the last recession and show little sign of rising even as the economy faces stiffer headwinds. Initial jobless claims, a rough way to measure layoffs, increased by 4,000 to 215,000 in the seven days ended Aug. 24, the government said Thursday. Economists polled by MarketWatch estimated new claims would total a seasonally adjusted 214,000. What happened: Raw or unadjusted jobless claims jumped by more than 4,500 in New York, likely accounting for most of the increase in claims. New jobless claims were little changed in every other state. The more stable monthly average of new jobless claims, meanwhile, edged down by 500 to 214,500. The four-week average usually gives a more accurate read into labor-market conditions than the more volatile weekly number. Both remain close to a 50-year low, however. The number of people in the U.S. already collecting unemployment benefits, known as continuing claims, climbed by 22,000 to 1.7 million. These claims are near a more than 40-year low. Big picture: Jobless claims are still extremely low and show no sign of rising. The strong labor market is propping up a U.S. economy being buffeted by a trade war with China and a slowing global economy. Consumers are still confident enough to spend and drive the economy forward. There’s probably little reason to worry about until jobless claims shoot above 230,000 and move toward 250,000, economists say. What they are saying? “The labor market remains tight and solid, layoff activity is light and there is no evidence in the economic data that suggests that these conditions will change any time soon,” said Thomas Simons, senior money market economist at Jefferies LLC. Market reaction: The Dow Jones Industrial Average DJIA, +0.81% and the S&P 500 index SPX, +0.84% rose in Thursday trades after China said it would not retaliate immediately to the latest U.S. increase in tariffs. The 10-year Treasury yield TMUBMUSD10Y, +1.99% edged up to 1.51%. Amazing!
In this episode of The Sherman Show, David Zervos, Ph.D., Chief Market Strategist for Jefferies LLC and Chief Investment Officer for the Global Macro Division of Jefferies Investment Advisers, LLC, describes how his academic path mutated to macroeconomics from electrical ... Read More
Narayana Kocherlakota, a Bloomberg View columnist and the former Minneapolis Fed president, discusses what he calls the Fed's $2 trillion mistake and why economic forecasting is still broken. Michael Arnold, Bloomberg's bureau chief for Israel and Palestinian territories, talks about President Trump's trip to the Middle East. David Zervos, the chief market strategist at Jefferies LLC, discusses how excessive regulation has stymied GDP growth. Finally, Keith Naughton, auto editor-at-large at Bloomberg in Detroit, talks about Ford CEO Mark Fields being replaced by turnaround specialist Jim Hackett, the head of Ford's Smart Mobility subsidiary.
(Bloomberg) -- Corrects guest name. u0010u0010David Bissinger, a partner at Bissinger, Oshman and Williams, and James Cox, a professor at Duke University Law School, discusses the trial of former Jefferies LLC managing director Jesse Litvak, and the arguments of Litvak’s counsel, who are taking a blame-the-customer approach to the trial. They speak with June Grasso and Michael Best on Bloomberg Radio’s "Bloomberg Law."
(Bloomberg) -- Corrects guest name. u0010u0010David Bissinger, a partner at Bissinger, Oshman and Williams, and James Cox, a professor at Duke University Law School, discusses the trial of former Jefferies LLC managing director Jesse Litvak, and the arguments of Litvak's counsel, who are taking a blame-the-customer approach to the trial. They speak with June Grasso and Michael Best on Bloomberg Radio's "Bloomberg Law." Learn more about your ad-choices at https://www.iheartpodcastnetwork.com
(Bloomberg) -- Taking Stock with Kathleen Hays and Pimm Fox. GUEST: Howard Rubel, Senior Equity Research Analyst of Aerospace & Defense Electronics at Jefferies LLC, with an overview of the aerospace sector, Boeing, and the Farnborough airshow in England.
(Bloomberg) -- Taking Stock with Kathleen Hays and Pimm Fox.u0010u0010GUEST:u0010Dr. Ward McCarthy, Chief Financial Economist at Jefferies LLC, weighs in on Janet Yellen's speech, the bond market, and where he thinks rates will go.
Speakers: Laurence Boone, Managing Director and Head of Developed Europe Economics, Bank of America Merrill Lynch Global Research Jason Cummins, Head of Research and Chief U.S. Economist, Brevan Howard Inc. Spencer Dale, Executive Director and Chief Economist, Bank of England Brian Sack, Senior Vice President and Co-Director of Global Economics, D.E. Shaw Group Moderator: David Zervos, Managing Director and Chief Market Strategist, Jefferies LLC. Rattled by prospects of the Federal Reserve "tapering" its unconventional stimulus, and happy that it hasn't, investors are wondering what changes to expect from monetary policy around the world. Most observers believe that the European Central Bank and Bank of England will leave key interest rates as they are for several years. But could a more-rapid-than-anticipated tapering by the Fed change this outlook? The uncertainty for Japan - which continues to move full speed ahead with Abenomics and its own brand of quantitative easing - is whether an unexpected turn in the economy might derail this policy. As for emerging markets, many have been rocked by a sudden shift in capital flows as Fed policy helped draw cash back to the core regions. And there is concern that monetary policy might need to be tightened because of continuing currency depreciation. Will central bankers launch the global economy into the much-discussed but elusive escape velocity, or are we set for an even more anemic version of the "new normal"?
Speakers: Paul Barber, Managing General Partner, JMI Equity Paul Maeder, Co-Founder and Managing General Partner, Highland Capital Partners Brett Rochkind, Managing Director, General Atlantic Scott Sandell, General Partner, New Enterprise Associates, Inc. Robert Smith, Chairman and CEO, Vista Equity Partners Moderator: Alec Ellison, Vice Chairman, Jefferies LLC; Chairman, Technology Investment Banking . Consumers are crazy about Apple, Google, and Facebook. But when it comes to IPO performance, valuation and revenue growth, less sexy enterprise technology has a great story to tell. Our panel of venture and private equity investors will turn a spotlight on technology market segments that have been advancing under the radar. Among them, a range of software niches, virtualization, network and cyber-security as well as opportunities surrounding big data. What's the latest in cloud computing and mobile broadband? And consumer segments won't be overlooked as we discuss e-commerce, social networking and other models in the pipeline. We'll expand your view of what's leading-edge and lucrative.
Speakers: James McCaughan , CEO, Principal Global Investors. Cliff Noreen, President, Babson Capital Management LLC. Tad Rivelle, Chief Investment Officer, Fixed Income, TCW. Aram Shishmanian, CEO, World Gold Council. Kevin Warsh, Distinguished Visiting Fellow, Hoover Institution; Former Member, Federal Reserve Board of Governors. Moderator: David Zervos, Chief Market Strategist, Jefferies LLC. Among the monetary measures central banks have taken to address the lingering impact of the 2008 financial rupture, keeping interest rates artificially low has been a primary aim. The term "financial repression" has become associated with that policy. Such measures were launched in the hope of not only stimulating economic activity but to ease the pressure of servicing onerous public debt. Concern is growing, however, that quantitative easing has distorted markets by interfering with the proper pricing of risk and, by extension, obscuring the true cost of capital. Our panel of experts will explore the possible effects of sustained QE and the quest for financial stability. For instance, are bubbles inflating? Will these effects be similar or will they vary from market to market? What costs will long-tem financial repression impose on the Federal Reserve and other central banks? What tools can be employed as alternatives?