Stock market news today July 23

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A $1.9 trillion investor says there are already a bunch
of ‘canaries in the coal mine’ that could send shockwaves through
markets

Rick Rieder is worried about liquidity.

According to the chief investment officer of global fixed income
at BlackRock, the retreat of central banks from credit markets
could worsen liquidity, or complicate how smoothly other
investors are able to do the same.

Rieder, who oversees $1.9 trillion in assets, has been voicing
this concern for several months as central banks reduced their
bond purchases.

Back in January, the Bank of Japan said
its balance
sheet shrank month-on-month for the first
time since it started buying government bonds, equity
exchange-traded funds, and other assets in late-2012. In June,
the European Central Bank said it was set to end the €2.5
trillion ($3 trillion) bond-buying program known
as quantitative
easing that it initiated after the eurozone
debt crisis. The Fed continues to slowly unwind its $4
trillion-plus portfolio of bonds.

Barclays has raided Credit Suisse yet again in
trading

Barclays has hired a new electronic equities executive
as the bank continues to invest in its fast-growing stock trading
business.

Kevin O’Connor is joining Barclays equities team as head of
electronic equities origination for the Americas, the British
lender announced Monday.

O’Connor joins from Credit Suisse, where he worked in the global
markets division as the US head of sales for Advanced Execution
Services — a role in which he oversaw sales, marketing, and
distribution strategies for the electronic products in the
Americas.

The new hire further bolsters Barclays roster as it looks to add
market share in its cash equities business.

Crypto companies are working with the Big Four to get
Wall Street to trust them

Bitcoin companies have a branding problem.

The nascent market for digital coins is known for its
spine-tingling volatility and hacks.

That’s part of the reason institutional investors don’t trust
firms across the landscape with their money. But crypto service
providers and exchanges are trying to lure in big money by
shaking off their scrappy roots and holding themselves to Wall
Street standards.

To that end,
many are partnering with ‘Big Four’ accounting firms to acquire a
so-called SOC2 certification, a way to prove to clients that
they have the proper functioning security systems in place to
keep funds secure.

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