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thenews
Added topic How To Track The Economy Now That The Government Has Stopped Publishing Data
The government has entered into shutdown for the first time in 17 years. As a result, regular economic data releases put out by the Department of Labor and the Commerce Department — for example, the monthly nonfarm payrolls report — won't be
thenews
Added topic Why A Lot Of Traders Fail
You can use the terms trader and investor interchangeably on this one... What I like best about the Larry Benedict chapter in Jack Schwager's Hedge Fund Market Wizards book is that it opens with a story about repeated failure. Before becoming the
thenews
Added topic 5 years after financial crash, many losers — and some big winners
Never let a crisis go to waste, says an old rule of politics. For some major players in the economy, the financial crisis that began five years ago this month with Lehman Bros.' collapse turned out to be as much an opportunity as a calamity. Although
thenews
Added topic Fed’s Taper Start Seen as Non-Event in Poll of Investors
An anticipated reduction in stimulus by the Federal Reserve that has roiled the financial markets for months will be seen as no big deal if it goes ahead next week, according to a Bloomberg Global Poll of investors. Fifty-seven percent of those
thenews
Added topic QE Tapering Preview: 5 Reasons, 6 Scenarios and 7 Potential Currency Reactions
The Federal Reserve convenes for a highly anticipated meeting to make a decision about QE tapering. There is a a very high probability that the Fed will announce a reduction in the pace of bond buying on September 18th, and probably by $10-15 billion
thenews
Added topic Traders bet on later Fed rate hike with Summers out of picture
Traders are betting the Federal Reserve will keep policy easier for longer now that former Treasury Secretary Lawrence Summers is out of the running to succeed Ben Bernanke as chairman of the U.S. central bank. Summers, a former top aide to President
thenews
Added topic What Is The FOMC Watching?
The July statement from the FOMC presented the following snapshot of the economy, "Information received since the Federal Open Market Committee met in June suggests that economic activity expanded at a modest pace during the first half of the year
thenews
Added topic Fed sticks to stimulus, worried about growth soft spots
The U.S. Federal Reserve said on Wednesday that it would continue buying bonds at an $85 billion monthly pace for now, surprising financial markets that were braced for a reduction in the central bank's economic stimulus. Citing strains in the
thenews
Added topic Bernanke Resets Fed Policy by Doing Nothing
Ben S. Bernanke reinforced his standing as the most activist Federal Reserve chairman in history by doing the unexpected: nothing. The policy-setting Federal Open Market Committee yesterday refrained from reducing the $85 billion pace of its monthly
thenews
Added topic Fed shock pushes euro money market rates lower, eases ECB job
Euro zone money market rates fell to six-week lows on Thursday after the Federal Reserve unexpectedly stuck to its $85 billion-a-month stimulus program, easing pressure on the European Central Bank to relax policy. The Fed's shock decision on
thenews
Added topic JPMorgan paying $920 million in London Whale case
JPMorgan Chase & Co. will pay $920 million and has admitted that it failed to oversee trading that led to a $6 billion loss and renewed worries about serious risk-taking by major banks. U.S. and U.K. regulators said Thursday that the largest U.S
thenews
Added topic Fed Decision Is Relief for Europe
The Federal Reserve's unexpected decision to keep its bond-buying program intact gives central banks in Europe more time to nurture still-fragile economic recoveries. Central banks in developing countries will face less pressure to raise interest
thenews
Added topic 6 Things To Ponder This Weekend
As we wrap up a most interesting, and volatile, week there are some things that I have discussed previously that are now brewing, interesting points to consider and risks to be aware of. In this regard I thought I would share a few things that caught
thenews
Added topic JPMorgan Says "Buy Gold"
The FOMC shocked markets by deciding not to slow its large-scale asset purchase program, after all the signals it had sent out in previous months that it would do so. While increasing policy risk, JPMorgan notes, this puts the asset-reflation trades
thenews
Added topic Fed officials to explain why taper was put on hold
The biggest news for the economy that may come this week isn’t even on the docket yet. That would be, of course, the nomination of the next chairman of the Federal Reserve. With Larry Summers having removed himself from consideration, most observers
thenews
Added topic Iceland Borrows European "Template" - Removes Large Deposit Guarantees
Following the crisis in October 2008, Iceland's government declared all deposits in domestic financial institutions were 'blanket' guaranteed - an Emergency Act that was reafrmed twice since. However, according to RUV, the finance minister is
thenews
Added topic JPMorgan Chase, 12 More Banks Said to Be Sued Over Libor
JPMorgan Chase & Co., Barclays Plc, Credit Suisse Group AG and 10 other international lenders were sued by a U.S. credit union regulator alleging they illegally manipulated benchmark Libor interest rates. The National Credit Union Administration, an
thenews
Added topic Some traders got 'no taper' decision news earlier
In the wake of an unusual trading pattern after the Federal Reserve's decision to continue economic stimulus last week, Fed officials have contacted certain news organizations to discuss rules and procedures for the central bank's advance release of
thenews
Added topic 'Massive fraud' at center of trial against BofA over U.S. mortgages
Bank of America Corp's Countrywide unit placed profits over quality in a "massive fraud" selling shoddy mortgages to Fannie Mae and Freddie Mac, a U.S. government lawyer said on Tuesday. The claim came at the start of the first case by the government
thenews
Added topic Economist Wins Genius Grant For Proving That Most Traders Are Idiots
The MacArthur Foundation gave out its latest batch of "genius grants" yesterday, recognizing "exceptional creativity in their work and the prospect for still more in the future." One of the winners is a CalTech economist most famous for calling
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