Episode Transcript
[00:00:06] Welcome to the John Lothian News daily Update podcast for April 5, 2024. I am your host, John Lothian. This podcast is brought to you by John Lothian News the home of markets wiki and markets wiki Education. Thank you for joining us. Here are the hits and takes comments from today's GLN I want to congratulate the readership of this newsletter. The top read story from yesterday was the very last story in yesterday's newsletter. What is next for billionaire philanthropist Mackenzie Scott's giving from AP via Yahoo finance that shows you are reading the newsletter from top to bottom. Good work.
[00:00:49] The Financial Times is reporting that the global supply of public equity is experiencing its most rapid decline decline in at least 25 years, with companies favoring share buybacks over new share sales due to economic and geopolitical uncertainties. JPMorgan analysts report that the net supply of equities has decreased by $120 billion this year, surpassing last year's $40 billion reduction. Despite optimistic market conditions, executives remain cautious, leading to a persistent decline in availability of public equities. Buyback activity is expected to reach approximately $1.2 trillion by December. While initial public offerings and other share sales have fallen short of expectations in the last 30 days, readers from Russia have made it the number two country registering on the analytics of countries visiting the johnlothianews.com website. After the United States, the United Kingdom is number three, followed by China, Germany, India, Netherlands, Canada and France. Rounding up the top ten. Activity on our website has been up since the first of the year, with noticeable spikes in traffic. On January 11, the day ETF's on bitcoin were approved, and we posted the second Scott Shalladay video. February 5 was another high traffic day, which is when we reported about former CFTC chief of staff Mike Gill being shot. We also posted a video interview with FIA Techs Nick Salinger that day. On February 20, we posted our options discovery interview with Hilary Till, which attracted interest. Then on March 5, the day after my birthday, we had a smaller spike. The big story that day was about Chicago Mayor Brandon Johnson's plan to carry out a Lightfoot era plan to revamp La Salle street. The Department of justice announced that five new federal agencies have pledged to uphold civil rights laws amidst the increasing use of artificial intelligence in daily life. Assistant Attorney General Kristen Clark emphasized the importance of protecting individual rights in the face of AI's growing influence. The agencys aim to address unfair and discriminatory outcomes that may arise from the use of AI and automated systems in various sectors. This initiative reflects a whole of government approach to enforcing civil rights laws in the realm of AI technology.
[00:03:51] CFTC Commissioner Kristen N. Johnson will deliver the opening keynote at the AI Civil and Human Rights Policy Roundtable and book workshop, engaging in dialogue with Professor Katherine Powell from the White House Gender Policy Council. Moderated by Charlton McElwain. The event is hosted by NYU's center for Critical Race and Digital Studies in the NYU alliance for Public Interest Technology, New America's public interest technology university network, and the Digital Democracy Lab at William and Mary Law School. Scheduled for Wednesday, April 10, 2024 at 09:00 a.m.. EST, the event will take place place at New York Universitys campus in Washington, DC.
[00:04:48] Eurex announced that derivatives forum Amsterdam will take place in person on July 11, 2024 and will be co hosted with ABN Amro Clearing bank. The Security Traders Association Spring update in Washington, DC on April 10, 2024 will feature a day long program at the St. Regis, Washington, DC starting at 10:00 a.m. Eastern time. The event will host congressional, regulatory and business leaders discussing key market issues, followed by a networking reception. The agenda includes interviews with Representative Wiley Nickel, Hao, Shang Zhu from the SEC and Stephanie DuMont from FINRA, along with fireside chats on retail trading and buy side perspectives. The program also includes updates from industry experts and concludes with a networking reception from 430 to 06:00 p.m. Tickets are available through the Security Traders association. The Wall Street Journal has a picture graphic story titled Teenagers are pouring into the stock market with the sub headline the boom in teen trading is part of a wider rush to financial markets since the start of the COVID-19 pandemic.
[00:06:09] Claire Nicoforo, a resident of Misericordia for ten years who works at Sacred Heart School, is raising money for Misericordia's candy days. The money goes to the residents of Misericordia to help them live a full, happy and safe life. Join me in supporting Claire and the residents of Msricordia by donating with the link in today's newsletter. You will see volunteers out in the Chicago area on April 26 and 27th for Miss Recordia Candy days the Wall Street Journal's Jason Gaye thinks this year's final four are more fabulous.
[00:06:50] The title of his commentary is is it me or is the final four more fabulous? This year with the sub headline a historic showcase for the surging women's game with a generational player, Caitlin Clark, plus a stirring set of matchups on the men's side. Plan your weekends accordingly. I concur I don't remember a final four that included two players who could win back to back player of the year awards in college basketball. That loud noise you hear this summer in a 16 state area of the US, Midwest and Southeast will be a trillion cicadas the New York Times says a story titled up to a trillion cicadas are about to emerge in the US with the sub headline. Two periodical cicada broods are appearing in a 16 state area in the midwest and southeast for the first time in centuries. Can you get rid of them? Do they bite? We answer your questions. Our most read stories from our previous edition of JLN options were civil clear Europe adds two key players to launch of securities financing transactions clearing service from the trade Clearstreet to offer clearing service in listed us equities and options from the trade and why shorting trumps DJT stock could cost you a 500% fee from MarketWatch via Yahoo Finance. Subscribe to the free JLN Options newsletter with a link in todays JLN. Here are more stories from the first read section of today's JLN. Here's a story from the New York Times. The headline the market may finally hit a real record, but it could be a problem. Robert Schiller, the Nobel laureate, says valuations adjusted for high inflation suggests stock returns for the next decade are likely to be modest. Most people who have looked at their stock portfolios this year have had the pleasant experience of seeing increases in their holdings, and countless news reports and analyses from financial gurus have talked optimistically about the markets powerful upward momentum. But what most reports and commentary havent pointed out is that because inflation has also climbed sharply over the last few years, the value of stock prices has eroded along with nearly everything else in the economy. When you factor in inflation, the stock market did not actually reach new heights. My comment listen buster, I know a new high when I see one. And this was a new high. Okay? It was not the highest of the new highs it could have been, but it was still a new high. And I love new highs.
[00:09:48] Here's another story about cicadas from Yahoo News. Cicadas aren't nature's weirdos. They pee stronger than us, and an STD could turn them into zombies.
[00:10:00] The periodical cicadas that are about to infest two parts of the United States aren't just plentiful, they're downright weird. These insects are the strongest urinators in the animal kingdom, with flows that put humans and elephants to shame. They have pumps in their heads that pull moisture from the roots of trees, allowing them to feed for more than a decade underground. They are rescuers of caterpillars, and they are being ravaged by a sexually transmitted disease that turns them into zombies. My comment of all the zombies I have worried about, cicadas have never made my list. Now they have. Here are the top three stories from Thursday's JLN our top story Thursday was what is next for billionaire philanthropist Mackenzie Scott's giving from AP via Yahoo finance. Second was did one guy just stop a huge cyber attack from the New York Times? Third was business and economic history UIC Special Collections and University archives, a document that mentions the founding of the Chicago Board of Trade on April 3, 1848, in a flower store. Attica. Wednesday was the 176th anniversary of the CBoTs founding.
[00:11:26] Here are the top three stories of todays JlN. The first story is from Bloomberg. The headline the sheikh who dominates one of the worlds hottest stock markets the UAE exchanges approach to $1 trillion in value as Abu Dhabis index almost triples since April 2020.
[00:11:49] The United Arab Emirates rulers will soon achieve a distinction theyve long coveted. Their once sleepy stock exchanges will be home to companies valued at $1 trillion. This outsized success, the markets already ranked number 17 in the world at the end of March, ahead of Brazil and Spain, relies on the recent chart topping performance of the Abu Dhabi Securities Exchange, run by the UAE's biggest and wealthiest city state. But global investors tempted to pile in, face the Abu Dhabi's market's defining feature. Royal family member Sheikh Tanoon bid Zayad El Nanyan, one of Abu Dhabi's two deputy rulers, national security advisor of the UAE and brother of its president, dominates just about every part of its business as of March 31, the sheik's companies, or those he oversees, had a weighting of at least 65% of the benchmark Footsie ADX general index.
[00:13:04] Here's another story from Bloomberg. The headline crypto trading volume reached all time high during March rally spot trading volume doubled to $2.94 trillion in March, CC data Binance saw its largest yearly gain in spot, researchers said. The combined volume of crypto, spot and derivatives trading on centralized exchanges almost doubled to an all time high of $9.1 trillion in March, while bitcoin reached a record, according to CC data. Spot trading outpaced the gains seen in derivatives, with volume rising 108% to 2.94 trillion, the highest monthly figure since May 2021, CCDatas March Exchange review report said. Binance, the worlds largest crypto exchange, saw trading volume reach the highest since May 2021, with spot jumping 121% to $1.1 trillion and derivatives increasing 89.7% percent to $2.91 trillion.
[00:14:17] Here's another story, this one from the Financial Times. The headline banker to british mid cap warns of bleak outlook for London market Peel Hunt chief says dearth of ipos is starting to bite quite hard.
[00:14:37] The boss of one of the city's biggest independent investment banks has sounded the alarm over the future of London's capital markets, saying they will end up dead on current trends. Peel Hunt chief executive Steve Fine told the FT that there was no sign of a revival in London's moorabound market for initial public offerings.
[00:15:05] Our industry has dramatically hollowed out over the last 510 years, he said.
[00:15:14] If we carry along this trajectory, we will end up just like the irish market, which is dead.
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