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.
Morgan Stanley is seeking regulatory approval to make financial advisers dual employees of its bank subsidiary in addition to the broker-dealer as the firm increases mortgage lending, a person briefed on the matter said.
Puerto Rico debt is having its worst year since 1999 as a shrinking economy strains the island’s finances. For Wall Street banks and law firms, that’s a signal to tout the bonds to investors in distressed debt who don’t typically buy municipal securities.
Industrial & Commercial Bank of China Ltd. was added to the list of too-big-to-fail banks as global regulators revised the roster of lenders that must hold extra capital to prevent another financial crisis.
Citigroup Inc. asked a New York state judge to dismiss a lawsuit by former Wall Street banker William Salomon, son of the founder of Salomon Brothers, who sued the bank in May over his personal secretary’s theft.
The pitch was enticing. At a time when the Standard & Poor’s 500 Index had suffered a decline of 41 percent in the previous three years, Morgan Stanley was offering its clients the possibility of some relief.