The true cost of zero commission trading
FT News Briefing
Forhecz Topher
4.4 • 1.2K Ratings
🗓️ 10 June 2021
⏱️ 10 minutes
🧾️ Download transcript
Summary
Today’s report on US consumer prices is expected to show that prices further accelerated in May, US president Joe Biden will use this week’s G7 summit to encourage allies to join Washington’s tougher stance towards Beijing, and Olympic sponsors worry if being associated with the games will damage their brand. Plus, the FT’s Eva Szalay interviews a market insider who says popular trading platforms that offer “zero commission” trades are not being entirely honest with customers.
Will hot US inflation data unsettle markets?
https://www.ft.com/content/7377a5d6-73e8-442e-96e8-ea2535286c08
Joe Biden rallies allies to take tougher stance on China
https://www.ft.com/content/203d664a-c834-48d7-805d-c49d44aa2a9a
Japanese sponsors think twice about being associated with Tokyo Olympics
https://www.ft.com/content/2e8b9ce5-95e0-4114-884b-f05de926ccde
Retail trading frenzy reflects ‘broken’ US equity markets, says XTX’s Gerko
https://www.ft.com/content/d813fe90-29ba-4c98-ac57-c2919a7970b1
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Transcript
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| 0:00.0 | Good morning from the Financial Times. Today is Thursday, June 10th. This is your FT news briefing. |
| 0:08.9 | Inflation data out today will tell us how hot the US economy is. |
| 0:12.8 | President Joe Biden will rally allies to get tougher on China and companies sponsoring the Tokyo |
| 0:18.4 | Olympics are thinking twice about backing the games. Plus retail brokers say they're democratizing |
| 0:25.2 | markets with no cost trade. But the head of a top trading firm says that's not quite true. |
| 0:41.3 | I'm Mark Filipino and here's the news you need to start your day. |
| 0:44.7 | The latest US inflation numbers are out today. The consumer price index for the month of May |
| 0:56.3 | will offer another indication of how much the US economy is heating up as it emerges from the |
| 1:02.2 | pandemic. Inflation has been a huge concern for investors and the last report for April |
| 1:08.6 | show the highest increase in more than a decade. Numbers for May that are due out today could be even |
| 1:15.2 | higher. Prices are projected to have risen 4.7% compared to May last year. But the FT's Aziza |
| 1:22.4 | Kazumov says markets will likely take it in stride. We've seen a lot of sort of reaction, |
| 1:28.7 | market reaction to inflationary fears earlier in the year but you know from talking to portfolio |
| 1:33.6 | managers it seems like a lot of those fears have been pricing at this point and that you know people |
| 1:38.5 | have kind of settled on the narrative that they think inflation is coming but I think it's going |
| 1:43.1 | to be transitory. So unless there's sort of a crazy shift from from what the sort of economists |
| 1:49.3 | expectations are from May I think it's likely that markets are just going to be not reacting all |
| 1:55.6 | to dramatically. Aziza Kazumov is the FT's US equities correspondent. |
| 2:06.4 | The Biden administration continues to develop its own get tough on China approach. Yesterday the |
| 2:12.0 | president revoked Donald Trump's ban on the Chinese apps TikTok and WeChat. The ban had already |
| 2:17.1 | become ineffective because of court challenges. President Joe Biden issued his own executive order |
| 2:22.8 | that doesn't target China specifically but it would review software and apps from foreign |
... |
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