White House: 'Era Of Amnesty Is Over'

Gabe Plotkin Plans ETF Comeback After Melvin Capital Collapse After closing his hedge fund in the aftermath of the meme-stock upheaval, Gabe Plotkin is exploring a new investment structure, according to Bloomberg. He’s looking to place a portion of his personal holdings into an exchange-traded fund, using a method that has become increasingly attractive for wealthy investors seeking to postpone capital gains taxes. As co-chair of the Charlotte Hornets, Plotkin is expected to contribute most of the starting assets for a proposed vehicle called the Snowball ETF, according to people familiar with...

"Firing On All Cylinders, But..." US Manufacturing Surveys Send Mixed Signals In May With US hard data taking a beating (relative to expectations) last week (red line below), analysts remain hopeful that US Manufacturing will hold up (durable goods orders were solid) with this morning's Manufacturing PMIs set to signal stability. The final May S&P Global US Manufacturing rose to 55.1 (down from the 55.3 flash print) but the strongest since April 2022 ISM's Manufacturing PMI survey also signaled improvement, up from 52.7 to 54.0 (better than 53.0 expected). "At first glance, the...

Beijing's Stock Rescue Turns More Desperate: Regulators Reportedly Halt IPOs China's version of the "Plunge Protection Team" was back in action on Tuesday.The Financial Times reports that the securities regulator has instructed investment banks to pause initial public offerings, curbing new equity supply. The reported intervention follows a series of measures aimed at reversing the bear market, suggesting Beijing is increasingly uncomfortable with the stock downturn that began over the summer.The report says that the China Securities Regulatory Commission delivered informal "window guidance" in meetings with major investment banks over...