Data transmission was snarled in parts of the options market today as one of the biggest U.S. venues reported issues disseminating prices while the industry’s benchmark gauge swung erratically three times.
U.S. stocks rose, with benchmark indexes climbing to records, as earnings from Pfizer Inc. to Xylem Inc. beat estimates and data indicating slower growth fueled bets the Federal Reserve will maintain stimulus.
Risk appetites in American capital markets diminished amid the U.S. budget impasse, pushing Treasury one-month bill rates to the highest since 2008 and Internet stocks to the biggest losses in two years.
Emerging-market stocks advanced, led by Russia, as OAO Lukoil and OAO Gazprom paced a rally in energy companies. India’s equities and bonds climbed after the nation’s central bank relaxed liquidity curbs.
Steven Hoffman, owner of a wooden button factory in Brooklyn, New York, was drawn into real estate investment trust CYS Investment Inc. by its 12 percent dividend yield. After buying 2,000 of shares a year ago that have since dropped more than 43 percent amid concern the Federal Reserve would reduce its economic stimulus, he’s now anxious his payout will be cut.
Regulators should boost oversight of the largest real-estate investment trusts that use borrowed money to invest in mortgage-backed securities because rising interest rates may push the firms into asset sales that destabilize markets, the International Monetary Fund said.
Gary Kain built American Capital Agency Corp. into the fastest growing real estate investment trust as the Federal Reserve pushed borrowing costs to record lows. Now he’s trying to persuade investors to stay with him as he navigates the central bank’s retreat.
Gary Kain spent 20 years at Freddie Mac managing as much as $800 billion of bonds before the U.S. took over the company. Since 2009, he’s used his knowledge of the home-loan market to help turn American Capital Agency Corp. into the fastest growing mortgage debt investor.
John Koskinen, nominated to become U.S. Internal Revenue Service commissioner, has a net worth between $7.1 million and $27.4 million, according to a financial disclosure released by the administration.