Bloomberg:
- Crypto Investors Risk ‘Total Loss,’ Deutsche Warns. (video) Deutsche Bank AG’s Wealth Management currently does not advise to invest in crypto-currencies, according to Markus Mueller, Global Head of Chief Investment Office. Problematic issues include high volatility, possible price manipulation and data loss or data theft, he told Bloomberg News in an interview. "We do not recommend that. It’s only for investors who invest speculatively," he said. "There is a realistic risk of total loss." According to Mueller, recent price increases reflect a lot of imagination, driven by the current situation in the market. There is hardly any return scope left in other asset classes such as fixed income, he said.
- Nomura Adds Bankers From BofA, UBS, Jefferies in U.S. Expansion. Nomura Holdings Inc. hired 15 investment bankers in the U.S. from firms including Credit Suisse Group AG, Bank of America Corp. and Jefferies Group LLC as the Japanese lender builds out its North American business. The additions, which took place over the past year, were for the bank’s leveraged finance, equity capital markets, consumer, health-care, financial institutions, industrials and technology and M&A groups, Nomura said Monday in a statement.
- Top Norway Fund Manager Is Betting on Rigs for 200% Return. After more than 3 years of taking a hammering, drillers are set to rise. “They will rise 100 to 200 percent -- a real surge,” Martin Molsaeter, portfolio manager and partner at First Fondene, said in an interview in Oslo on Wednesday. Oil service companies suffered as crude prices fell in 2014, with explorers and producers slashing spending to weather the downturn. But as oil companies start to increase investments with crude back over $70 dollar a barrel, revenue is likely to rise for rig companies and other suppliers.
- Exxon(XOM) Cites $50 Billion Spending Bonanza But Details Are Scarce. Exxon Mobil Corp. is planning a $50 billion building spree over the next half decade. But the details so far are scant. U.S. Representative Kevin Brady, the Texas Republican whose district is home to Exxon’s largest corporate campus, tweeted on Monday that the oil explorer is set to announce a $50 billion, five-year domestic investment program. Exxon CEO Darren Woods confirmed the spending plan in blog post, citing the U.S. income tax overhaul as a significant contributor to the program.
- Goldman Gauge of Market Health Flashing Green for Economy Growth. Goldman Sachs Group Inc.’s index of financial conditions broke through its internet bubble trough to reach a record low Monday, signaling that the economy may be poised to pick up steam. The index tracks changes in interest rates, credit spreads, equity prices, and the value of the greenback, with a lower reading suggesting expansion lies ahead.
Wall Street Journal:
- What About Social-Media Neutrality? Facebook’s(FB) algorithms have outsize power, both culturally and economically.
- China’s Xi Looks to Ally to Fix U.S. Relations. President considers enlisting Wang Qishan, known as the ‘fireman’ for crisis postings, as tensions rise.
- Chemotherapy, a Trusty Weapon Against Cancer, Falls Out of Favor. Breast-cancer doctors are at odds over whether some patients should get less chemo—or none at all.
MarketWatch.com:
Zero Hedge:
- This Should Make President Trump Happy. (graph) Despite consensus GDP growth for Q1 at around 2.5%, The Atlanta Fed's latest GDPNow forecast for Q1 economic growth has started at an impressive 4.2%.