Sujata Rao
Sujata Rao
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Explainer: U.S. Treasury's cash drawdown - and why markets care

Explainer: U.S. Treasury's cash drawdown - and why markets care

By LONDON (Reuters) - The U.S. Treasury is due to run down a $1.6 trillion bank account at the Federal Reserve as government spending ramps up in the months ahead - a move some analysts warn may crush short-term money rates further and flood financial markets with cash.The Treasury said recently it would halve its extraordinarily large balance at the so-called Treasury General Account (TGA) by April and cut it to $500 billion by the end of June.Graphic: Treasury cash balance -Here’s what’s involved and its potential fallout:The U.S. government runs most of its day-to-day business through...

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Sujata Rao
2d ago
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Wall Street gears up for second bout against Reddit traders

Wall Street gears up for second bout against Reddit traders

By , BOSTON/LONDON (Reuters) - Wall Street is gearing up for another week of market mayhem, with signs that the retail frenzy that pumped up the stock prices of the likes of GameStop Corp and AMC Entertainment Holdings Inc is spreading to other assets.Slideshow Some of Wall Street’s largest hedge funds are still licking their wounds after retail traders sought to drive up the prices of stocks that were heavily bet against, resulting in large losses for major investors.Melvin Capital, a hedge fund at the center of the GameStop drama, lost 53% in January but received commitments for fresh...

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Svea Herbst-Bayliss
Jan 31
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Wall Street gears up for second bout against Reddit traders

Wall Street gears up for second bout against Reddit traders

By , BOSTON/LONDON (Reuters) - Wall Street is gearing up for another week of market mayhem, with signs that the retail frenzy that pumped up the stock prices of the likes of GameStop Corp and AMC Entertainment Holdings Inc is spreading to other assets.Slideshow Some of Wall Street’s largest hedge funds are still licking their wounds after retail traders sought to drive up the prices of stocks that were heavily bet against, resulting in large losses for major investors.Melvin Capital, a hedge fund at the center of the GameStop drama, lost 53% in January but received commitments for fresh...

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Svea Herbst-Bayliss
Jan 31
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Losses on short positions in U.S. firms top $70 billion - Ortex data

Losses on short positions in U.S. firms top $70 billion - Ortex data

By LONDON (Reuters) - Short-sellers are sitting on estimated losses of $70.87 billion from their short positions in U.S. companies so far this year, data from financial data analytics firm Ortex showed on Thursday.The hefty losses come as shares of highly-shorted GameStop jumped more than 1,000% in the past week without a clear business reason, forcing short-sellers to buy back into the stock to cover potential losses -- defined as a short-squeeze -- while retail investors then piled in to benefit from the surge.Chasing shorted companies became a trend among retail traders, rippling across...

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Sujata Rao
Jan 28
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