Wall Street faces more intensive government scrutiny of trading after U.S. regulators issued what they billed as a strict Volcker rule today, imposing new curbs designed to prevent financial blowups while leaving many details to be worked out later.
A historic exodus from municipal mutual funds is propelling the biggest jump in trading in local debt since 2011 as individuals and money managers bet an expanding economy will drive up interest rates.
Investors are pouring more money into stock mutual funds in the U.S. than they have in 13 years, attracted by a market near record highs and stung by bond losses that would deepen if interest rates keep rising.
As Energy Future Holdings Corp.’s board met last month to plan for bankruptcy, representatives of every influential creditor from Apollo Global Management LLC to Oaktree Capital Group LLC filed into a New York law office, except one.
A reduction of quantitative easing by the Federal Reserve needn’t be a harbinger for losses with growth slow and inflation subdued, according to Gregory Davis, named last week as head of fixed income at Vanguard Group Inc.
While suing Standard & Poor’s for fraud, states from New Jersey to California ironically are helping fund the world’s largest credit rater’s legal defense by requiring that their pension funds use its rankings.
Gilbert Beebower, co-author of a 1986 paper demonstrating that investors should focus on allocating money among equities, bonds and cash, rather than pick stocks or bet on market turns, has died. He was 79.