CalPERS' move to divest itself of $4 billion in hedge fund holdings is galvanizing a debate among many other pension managers.» Read More
It's a big week for energy bulls. Crude is pushing higher on the supply disruption worries from the Trans Alaska Pipeine closure, the floods in Australia are increasing U.S. coal demand, and lower surplus reserves are expected to push natural gas prices higher.
With all these drivers ramping up, I decided to get the outlook of John Hofmeister, Former President and CEO of U.S. Operaitons for Shell Oil and Founder and CEO of Citizens for Affordable Energy.
One of the pleasures of the new openness from Goldman Sachs is getting to delve a bit more deeply into the inner workings of the vampire squid. And one thing that is apparent: the blood funnel was especially thirsty during the first few months of 2010.
Looking at Goldman's new disclosure of operating results by segment , it's obvious that Goldman's traders had a mammoth first quarter last year. The firm's fixed income, currency and commodities traders recorded over $6 billion in revenues for the first three months of the year. The equities traders took in nearly $1.3 billion.
Hugh Hefner has had the greatest job in the world for my entire biological life: And he isn't slowing down.
After taking Playboy public in 1971, Hefner appears to have completed a transaction to return the company to a private corporation.
Bank of America is the target of the next "megaleak" from WikiLeaks, according to a person who has close contact with top people at Wikileaks.
Is Goldman Sachs 'Opening Up'? [Wall Street Journal] "Goldman Sachs Group Inc., seeking to beat back criticism that it abused its muscle and trading savvy to put its own interests ahead of clients, agreed to release details on how and where the Wall Street giant makes its money. In a 63-page report set to be released Tuesday, Goldman says that for the first time in its 142-year-history, it will start disclosing how much revenue comes from the firm's own trading and investing, according to a copy of the report reviewed by The Wall Street Journal. "
Get Ready for More WikiLeaks [CNBC via Reuters] "WikiLeaks will step up its publication schedule of secret documents, founder Julian Assange announced Tuesday, promising more revelations based on the group's stash of confidential U.S. embassy cables and other leaks. Assange, 39, spoke to reporters outside London's high-security Belmarsh Magistrates' Court, where he and his lawyers appeared for a hearing in his fight against extradition to Sweden, where he is wanted in a sex-crimes inquiry."
Up and at 'em! Here's what you missed overnight and what you need to know to rock the Tuesday casbah:
Morgan Stanley to Spin Off Prop Trading [CNBC] After months of speculation—and non-denial denials—it's official: "Morgan Stanley will spin off its proprietary trading business into an independent firm in 2012, joining a host of Wall Street banks scrambling to comply with new rules that bar making market bets with their own capital. The unit, known internally as process driven trading, will be named PDT Advisers and will be run by Morgan Stanley's proprietary trading chief, Peter Muller. "
Treasuries Up—Again—On Eurozone Debt Deterioration [Bloomberg] "Treasury 10-year note yields fell for a third straight day for the first time since November amid concern about a bailout for Portugal, and as it joins Spain and Italy in plans to borrow at least $43 billion this week. Two-year note yields touched the lowest in almost five weeks as the cost of insuring Portuguese bonds against default rose to a record. Treasuries yields extended a drop from Jan. 7, after Federal Reserve Chairman Ben S. Bernanke said the labor- market recovery will be gradual and a report showed the nation’s employers added fewer jobs than forecast. The Fed bought $7.79 billion in Treasuries due from February 2018 to August 2020 as part of its plan to spur the economy."
The barrage of reports from strategists on what investors should expect in 2011 has finally subsided and now, Birinyi Associates has issued a report on the reports. In a brief paper called, “Themes and Stocks for 2011” Birinyi analysts have waded through the verbiage of Wall Street’s strategists and came away with a few nuggets of note.
Proponents of quantitative easing sometimes offer inflation risk assurances in the vaguest of terms.
Such as: "When the time comes, the Fed has the facility to rapidly soak up the excess liquidity in the system."
Earlier in the day, I wrote about recent data backing the success of quantitative easing in avoiding an outright deflationary scenario for the economy. In my piece, I picked up on an article by John McDermott, writing for the Financial Times blog Alphaville.
CNBC's Patti Domm and Jeff Cox discuss the jobs report and the current dilemma of long-term unemployment.
CNBC's Patti Domm and Jeff Cox discuss the recent GDP numbers and what factors have been affecting it.
Investors give and investors take away, and nowhere has that been more true lately than in value stocks.
CalPERS' move to divest itself of $4 billion in hedge fund holdings is galvanizing a debate among many other pension managers.
Traders are eyeing Alibaba and Scotland's independence vote, but analysts said the Fed's dovishness statement could be more important.
Bonds sold off after traders read the Fed's new rate forecasts as slightly more aggressive, but Yellen's comments drove stocks up.