Net Net: Promoting innovation and managing change
Net Net: Promoting innovation and managing change

Morning six-pack: What we're reading Tuesday

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Happy Tuesday and Merry (almost) Christmas. Most people are jetting for the holidays later today, but here's one last dose of financial news before the break.

Departures from SAC Capital to rival hedge funds continue, this timewith traders inLondon going to Moore Capital. My storyexplains.

The recent market rally is likely to add a boost to bonus packages for Wall Street's traders and investment bankers, partially offsetting an otherwise grim year. (Wall Street Journal)

Fines for mortgage companies' old, bad practices aren'tas punitive as they look on paper, like Ocwen Financial'srecent $2 billion settlement. (New York Times)

BlackRock is seizing an opportunity to buy Turkish stocks after political turmoil rattled other investors and drove down prices. (Bloomberg)

Applications for home mortgages hita 13-year low as rates rose due to a bond market sellofffollowing the Federal Reserve's decision to taper. (Reuters)

Boaz Weinstein's Saba Capital is headed for its second losing year in a row, hurt in part by a wager that European equities would rise more than high-yield credit. (Bloomberg)

—By CNBC's Lawrence Delevingne. Follow him on Twitter @ldelevingne.

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