A former Rochdale Securities LLC trader was sentenced to 2 1/2 years in prison for his role in an unauthorized $1 billion purchase of Apple Inc. stock that led to his company’s failure, according to federal prosecutors.
Treasuries fell, pushing the yield on the benchmark 10-year note up from a one-week low, before a speech by Federal Reserve Chairman Ben S. Bernanke that may help gauge the outlook for monetary stimulus.
G. Moffett Cochran, co-founder and chief executive officer of Silvercrest Asset Management Group Inc., a New York-based firm catering to wealthy families, which went public in June, has died. He was 63.
West Texas Intermediate fell to a five-month low and the discount to Brent widened after comments by Federal Reserve Bank of New York President William C. Dudley added to speculation that the central bank will reduce stimulus.
Ex-SAC Capital Advisors LP fund manager Mathew Martoma lost a request to have his insider- trading trial postponed after his lawyers said they received “newly discovered” e-mails and other documents from the U.S.
More than half the gauges Janet Yellen uses to track the U.S. labor market are below pre- recession levels, reinforcing the likelihood she will support an easier-for-longer Federal Reserve policy as she prepares to succeed Ben S. Bernanke as chairman.
Treasuries rose, pushing 10-year yields down for the first week since October, as Federal Reserve Chairman-nominee Janet Yellen underscored her commitment to strengthening the economy before cutting monetary stimulus.