If the Fed cuts rates, and goes negative, it will have a direct impact on top consumer banks' balance sheets.» Read More
Silver margins are going up —again. As the CME tries to keep pace with the explosive silver rally, the exchange has now hiked margin requirements eight times in the past twelve months.
While increased margins are more of a reaction to price and volume than a meaningful intent to control prices, market watchers say that increasing margins has sometimes caused investors to reduce positions and deleverage in order to meet those higher margin requirements.
There is perhaps no more telling detail about what kind of person works at Goldman Sachs than the story of the Memorial Day weekend meeting William Cohan relates in his book "Money and Power."
What ever happened to the cache of banking secrets Wikileaks was supposedly going to release early this year?
Wikileaks honcho Julian Assange told Andy Greenberg at Forbes that he was in possession of a trove of documents that "could take down a bank or two." The documents wouldn't necessarily show illegality but they would reveal an "ecosystem of corruption" at one of the biggest banks in the United States. Wikileaks would release it "early next year."
Hedge funds short Obama [WSJ]
Jury to decide fate of Raj Rajaratnam [NYTimes]
Biggest banks are beating earnings estimates, but they can't hide that 13% drop in revenue [Bloomberg]
Surfs up! Treasury Secretary Timothy Geithner catches some waves [ESPN]
To the banker-poet T.S. Eliot, April was the cruelest month.
But for many hedge fund traders who take bets on economic trends around the world, March was the cruelest they can remember.
“We just got whacked. Japan was a double hit—killing our longs and our shorts,” a young hedge funder said at a beer garden in Manhattan’s meatpacking district.
No question that Fed Chairman Ben Bernanke faces Wednesday will be more important than the big enchilada of monetary policy: After QE 2, then what?
Bank of America executives have secretly met with long-time Merrill Lynch veteran Dan Sontag in hopes of tapping him to run the U.S. wealth management division, according to people briefed on the matter.
The infighting at Bank of America over picking a new head for its U.S. wealth management division was set off by the unexpected resignation of Lyle LaMothe.
The "doom loop" is shaking up stock markets as worries of negative interest rates in the US may come.
The rivalry between Bill Gross and his former company Pimco looks set to hinge on the U.S. economy this year. FT reports.
Tender issued for euro-denominated unsecured bonds worth 3 billion euros and dollar-denominated bonds worth $2 billion.