We tested an economic theory by trying to buy people’s lottery tickets for much more than they paid

Most people aren’t shocked when they don’t win the lottery. The odds are heavily stacked against them and there is little they could have done differently to change the outcome. They might feel differently however, if they had at one point owned the winning ticket but made the decision to trade it…. FF All News

Dollar edges higher as Fed’s Dudley offsets weak U.S. jobs data

The dollar rose against a basket of currencies on Friday, as remarks on possible rate hikes in 2016 from a top Federal Reserve official pared some bets on a weaker greenback spurred by news of slower-than-expected domestic job growth in April. New York Fed President William Dudley told the New Yo… FF All News

Dual-CEO Jack Dorsey down $340 million on his 2 companies in 2 weeks

Jack Dorsey has had a miserable two weeks. Shares of the two companies that Dorsey founded and now runs — Twitter Inc. and Square Inc. — have plunged since their quarterly reports, wiping away a combined $ 3.7 billion in market value. If it’s any consolation to investors, Dorsey is feeling their p… FF All … Continue reading Dual-CEO Jack Dorsey down $340 million on his 2 companies in 2 weeks

EUR: Greater Resilience; AUD: Downside Risk: New Targets – Credit Agricole

EUR: Once again we revise our forecasts for EUR to the upside to account for the recent very disappointing US data, the persistent dovish shift in the Fed’s outlook and the change in the reaction function of the ECB. While we expect the Fed to resume its tightening cycle later this year, we belie… FF … Continue reading EUR: Greater Resilience; AUD: Downside Risk: New Targets – Credit Agricole

Schembri: Stress Prevention: Central Banks and Financial Stability

For the better part of the past two centuries, central banks have played an important role in the maintenance of financial stability, but primarily one of “stress or crisis management.” In particular, central banks have served as lender of last resort, providing liquidity to prevent stress from… FF All News