The John Lothian Daily Update is a podcast turning the daily JLN hits and takes comments, our original content and the stories and quips in the top box of First Read into a daily podcast.
Hits & Takes
Cboe Europe Derivatives is getting ready to launch on Monday, September 2021 (pending regulatory approvals). — Cboe Global Markets
The U.S. is telling its citizens to get out of India because of the raging pandemic. In a Level 4 travel advisory — the highest of its kind issued by the State Department — U.S. citizens were told “not to travel to India or to leave as soon as it is safe to do so. — Bloomberg
Time Magazine says the situation in India is spiraling out of control and it did not have to be that way. — Time
If you are in India and looking for a place to go, Singapore is the best place to be, assuming you can get in. — Bloomberg
The Financial Times has a Special Report titled “FT The Americas’ Fastest Growing Companies.” — FT
The Wall Street Journal is reporting that “Stocks Are Off to Best Start to a Presidential Term Since Great Depression; S&P 500 has risen 10% since Mr. Biden’s Jan. 20 inauguration.” The S&P 500 on average has gained 3.2% over that period in presidential terms since Herbert Hoover’s in 1929. — WSJ
I was interviewed yesterday on the radio by Joan Esposito on WCPT AM 820 about a story in JLN about the City of London looking to expand housing in response to soaring office vacancies among financial services firms.
I interviewed Bradley Rotter yesterday for the Open Outcry Traders History Project. Rotter was a financial futures pioneer at the MidAm, CME Group and CBOT, was Richard Dennis’s first managed futures client and later moved to California and became a venture capital investor in homeland security companies after 9/11. He was also an early adopter of bitcoin and bought his first coins at about $100 in 2013. He is a big believer in the transformative powers of tokenization on all markets.
There were no new donations to the JLN MarketsWiki Education GoFundMe campaign yesterday. Support our efforts to preserve industry history by giving to our GoFundMe campaign and have your support matched by Trading Technologies
Here is your strange fact of the day, courtesy of a story from Joe Weisenthal of Bloomberg. Millennials are buying more and more chickens and half of the 11 million birds sold by Tractor Supply in 2020 went to new customers. — Bloomberg
Have a great day and stay safe and treat people the same way you want to be treated: with respect, equality and justice.~JJL
The Spread will not air this week due to scheduling conflicts, but stay tuned next Tuesday for our next episode. We promise it’ll be worth the wait.~MR
Took In Billions. Then Its Leader Vanished, about the alleged pyramid scheme of Ruja Ignatova, known as the Cryptoqueen. Second, for the second time in the top three, was Kenilworth mansion sells for $7.5 million, from Crain’s Chicago, about the former home of Craig Donohue and his wife. Third was the U.S. Securities and Exchange Commission’s press release, SEC Modernizes the Accredited Investor Definition. (And our MarketsWiki Page of the Day Thursday was “Accredited investor.”)