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8/16/2019

Japan became the largest holder of US government bonds in June. Japan increased holdings of Treasurys to $1.12 trillion, surpassing China's $1.11 trillion.

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Japan, China, Treasurys
8/16/2019

The Commodity Futures Trading Commission has fined Kraft Heinz and Mondelez International $16 million for wheat manipulation, saying the firms bought $90 million of December 2011 wheat futures but never intended to take possession of the grain. The action caused a price fluctuation that earned the firms more than $5 million in profits, the CFTC said.

8/16/2019

Barclays is no longer providing banking services to cryptocurrency exchange Coinbase, sources say. They had formed a partnership in March 2018 which allowed Coinbase users the ability to purchase cryptoassets and withdraw their funds in UK pounds.

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Reuters
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Barclays, Coinbase
8/16/2019

The London Metal Exchange could remain one of the last open-outcry hold-outs after a three-month experiment with electronic trading of nickel did not yield compelling results. But an experiment extending the closing zinc session from five to 10 minutes resulted in a 57% increase in average daily volumes, an apparent win for open outcry trading, writes Andy Home.

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Reuters
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London Metal Exchange, LME, Andy Home
8/16/2019

Fannie Mae expects that 35% of mortgage activity in 2019 will be refinancing, according to a report out Thursday. The report also predicts the Federal Reserve will cut rates twice more, by a quarter point each time.

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Yahoo
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Fannie Mae, Federal Reserve
8/16/2019

Mexico's central bank cut interest rates for the first time since June 2014 - dropping the rate to 8% - citing slowing inflation and increasing slack in the economy. The cut was a surprise and came after several other countries cut their interest rates.

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Reuters
8/16/2019

Accordijg to a report from Transunion, the number of Generation Z consumers - those born in 1995 and beyond - with a mortgage rose 112% from the second quarter of 2018 to the second quarter of this year, going from 150,000 to 319,000. The report also said the number of credit-eligible Generation Z consumers is expected to grow by 13 million 9ver the next three years.

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HousingWire
8/16/2019

Transsion, a Chinese mobile phone manufacturer, and the venture arm of the Kenyan digital payments company Wapi Pay have joined forces to invest in early-stage African fintech startups. The capital for the joint effort is coming from an incubator and seed fund, Transsion's Future Hub.

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TechCrunch
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Transsion
8/16/2019

Nurx, a startup that ships birth control medications and devices directly to users, raised $32 million in a financing round that gave it a $300 million valuation. It also obtained $20 million of debt financing.

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TechCrunch
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Nurx
8/16/2019

Cloudfare, a startup that helps websites run as fast and reliably as possible while minimizing downtime, has filed for its initial public offering. The paperwork gives the IPO a placeholder valuation of $100 million, but the figure could be much higher when it comes to the market.

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TechCrunch
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Cloudfare