DAILY DOSE: March 3, 2021

Posted on 03/03/2021

1. Melvin Capital gained 22% in returns in February 2021 after the Gamestop rout. When Melvin Capital was hemorrhaging, Citadel and Point72 Asset Management provided Melvin Capital with a lifeline.

2. Amazon.com, Inc. plans to carry many NFL games exclusively on Prime Video only.

3. The Federal Reserve may have to stabilize yields by conducting an operation twist. The operation twist wound entail selling around US$ 1 trillion in front-end notes and buying US$ 1 trillion in long-term notes), or provide closure on supplementary leverage ratio (SLR) relief. SLR is the U.S. implementation of the Basel III Tier 1 leverage ratio, in which banks calculate the amount of common equity capital they must hold relative to their total leverage exposure. Large U.S. banks must hold 3%.

The Federal Reserve could use yield curve control if needed.

4. The Walt Disney Company plans to close 20% of its 300 Disney retail stores.

5. Societe Generale to chop bonuses at investment bank by about 20%.

6. Greece extends COVID lockdown restrictions to March 16, 2021.

7. MetLife is exploring a sale of peripheral European assets.

Keywords: Federal Reserve System.

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