Earlier this year the Dow Jones Industrial Average breached 17,000 for the first time in its long history. We decided to take a look at previous major benchmarks in the growth of the Dow over the years and highlighted what was going on in the markets—and the world.
On Tuesday, Leo Melamed, widely known as the father of financial futures, addressed an audience of Futures industry professionals at the CTA Expo, offering personal stories of his experiences that got him to where he is today.
The MF Global debacle was really a slow motion car crash. There were numerous red flags going back a year and the bottom line is that according to the initial bankruptcy filing, there was capital within MF Global Holdings to cover the shortfall in customer segregated funds but the appropriate regulatory authorities did not demand those assets
Since Fed Chairman Ben Bernanke first brought up the notion of tapering there has been hysteria over the inevitable tightening of interest rates. Some people confused tapering for tightening and some insist it is the same thing.
Most of us in the West know, or should know, that all things being equal it is best for the Federal Reserve not to intervene in the economy. We prefer market forces to work. But of course all things are not equal.
Sandor, who created the first interest rates futures in the 1970s and later a market for carbon emissions, envisioned interest rate futures because he understood the basic purpose of futures and saw a need.