Latest news with #BernardGoyder
Bloomberg
27-04-2025
- Business
- Bloomberg
Gold's Bullish Sentiment Seen Easing as Record Rally Stumbles
By and Bernard Goyder Save The gold rally has outshone other asset classes this month — even drawing some comparisons to bitcoin — as President Donald Trump's tariff war reshapes the global economic order, pushing investors to look for safety. Now, shifts in options positioning has some market watchers saying it's time to get cautious. As bullion hit a record last week, the trading of options on the SPDR Gold Shares ETF surpassed 1.3 million contracts, a level never reached before. At the same time, the cost of hedging against declines in the exchange-traded fund sits near its lowest level since August while implied volatility has surged, an unusual pattern.
Bloomberg
23-03-2025
- Business
- Bloomberg
Options Market Focused on Jobs and Inflation Over Tariff Reveal
By , Christian Dass, and Bernard Goyder Save While investors are eyeing warily Donald Trump's tariff 'Liberation Day' on April 2, options markets show it's far from the only event on the calendar. Implied volatility for S&P 500 Index options is elevated for a couple of particular days in the next two weeks, signaling greater demand for protection against big market swings then. That kink in the volatility curve is bigger for March 31 — just after the Core PCE Price Index, the Federal Reserve's favored inflation measure, is released — and for April 4, when monthly US unemployment data come out.
Yahoo
11-03-2025
- Business
- Yahoo
Singapore Exchange to list open-ended Bitcoin futures contracts
By Bernard Goyder and Katherine Doherty (Bloomberg) – Singapore Exchange plans to list Bitcoin perpetual futures as traditional exchanges push deeper into crypto derivative markets. Singapore's largest exchange group intends to launch the contracts in the second half of 2025, a spokesperson said in an emailed statement. The company will strictly target institutional clients and professional investors, with retail customers barred from trading the instruments. The move is the latest sign that established exchange operators are branching out into Bitcoin derivatives, as US President Donald Trump's pro-crypto agenda boosts demand for digital assets exposure. Bloomberg News reported on March 4 that Japan's Osaka Dojima Exchange, which traces its roots to the 18th century, is planning to seek approval to list Bitcoin futures. SGX hopes to act as a bridge between regulated financial markets and the freewheeling world of cryptocurrency trading. The firm thinks its offering will 'significantly expand institutional market access,' the spokesperson said. The planned products are still awaiting approval from the Monetary Authority of Singapore. Perpetual futures – which have no expiry date – are a way for traders to bet on price changes in an underlying asset without needing to own the asset itself. SGX isn't the only exchange looking to launch the contracts in Singapore: in January 2024, Hoboken, New Jersey-based EDX Markets, a digital-asset firm backed by Citadel Securities, revealed plans to offer the instruments in the city-state. Perpetual contracts are a staple of offshore cryptocurrency venues like Binance and OKX. They were also a mainstay of FTX Co-Founder Sam Bankman-Fried's collapsed crypto empire. Doing business with crypto exchanges creates credit risk for counterparties. The short history of crypto trading is littered with episodes of stolen assets and failed exchanges. The SGX spokesperson said its Aa2 rating from Moody's will offer a trusted alternative for trading crypto futures. The idea of a perpetually rolling future is an approach already common in the commodity markets. Japan Exchange Group, for example, offers investors 'rolling-spot' gold futures, giving them exposure to the current gold price without having to worry about gold bars arriving on their doorstep. The contracts were first developed by the crypto exchange BitMEX in 2016, Bloomberg News reported previously. The contracts use a mechanism similar to some swap contracts: if a position is in the money, one party must pay the other, a situation that reverses if the contract falls out of the money. Conventional futures in Bitcoin and Ether that expire at a particular date are already widely offered by US exchanges. In October 2024, Chicago-based exchange and clearing house Bitnomial said it wants to launch perpetual futures in the US market using a new technology platform called Botanical. More stories like this are available on ©2025 Bloomberg L.P.
Bloomberg
09-03-2025
- Business
- Bloomberg
Volatility Traders Revel in S&P 500's Wild Tariff-Driven Swings
By and Bernard Goyder Save Options traders who thrive on volatility are loving the market turbulence sparked by President Donald Trump's trade fights. As stocks ground higher in 2024, Kris McConnell used to wake up at 3 a.m. to make money off higher volatility during overnight sessions. But with the market swinging wildly this year, the 56-year-old Las Vegas-based day trader is raking in 80% more than he did last year. Plus, now he can hit the snooze button on his alarm clock.
