Five U.S. agencies will finish the Volcker rule today after more than three years of Wall Street resistance to its limits on trading and investing. Lawmakers and their allies who want to rein in big banks are ready to pounce if it isn’t strict enough.
Bloomberg’s Stephanie Ruhle has your morning brief of overnight news covering the most important global developments, market news and data on Bloomberg Television’s “Bloomberg Surveillance.” (Source: Bloomberg)
The difference between yields on two- and 10-year Treasuries widened to the most since 2011 as employment gains reinforced expectations the Federal Reserve is close to slowing bond purchases used to stimulate growth.
U.S. stocks rose, halting a five-day slide for the Standard & Poor’s 500 Index, as investors weighed better-than-forecast jobs growth to gauge the strength of the economy and timing of Federal Reserve stimulus cuts.
Treasury 10-year note yields fell from the highest in almost three months as investors weighed prospects for the Federal Reserve’s bond purchases after data showed the economy added more jobs than forecast last month.
The jobless rate dropped to a five- year low of 7 percent in November as American employers added more workers than forecast, boosting speculation the Federal Reserve may start scaling back stimulus as soon as this month.
Bill Gross, manager of the world’s biggest bond fund, said the pace of payroll growth in November signals there a 50 percent chance the Federal Reserve will begin tapering its monthly bond purchases this month.
DJ Edgerton, co-founder of Zemoga, says the "marketing machine" around the film Anchorman 2 "presages the next wave of movie marketing." Edgerton talks with Bloomberg's Tom Keene and Scarlet Fu on Bloomberg Radio's "Bloomberg Surveillance."
Wall Street’s biggest lobbying groups banded together to sue the Commodity Futures Trading Commission, seeking to curb the overseas reach of its rules and rein in a regulatory barrage by its departing Chairman Gary Gensler.
Winthrop Smith Jr., chairman and chief executive officer of Summit Ventures NE Inc.. a former Merrill Lynch executive and author of "Catching Lightening in a Bottle," a history of the firm, says the lack of retail investors in the stock market is "a real problem." Smith talks with Bloomberg's Tom Keene and Scarlet Fu on Bloomberg Radio's "Bloomberg Surveillance."