Corporate debt recently passed the $1 trillion mark in a continuing sign of global financial displacement.Marketsread more
"Federal debt, which is already high by historical standards, is on an unsustainable course," CBO director Phillip Swagel said in the report.Politicsread more
Target CEO Brian Cornell still thinks the U.S. consumer is strong and spending. Target's latest quarterly results showed the big-box retailer is benefiting from that.Retailread more
Stocks rose on Wednesday as strong quarterly results from retailers such as Target and Lowe's lifted investor sentiment.US Marketsread more
President Trump insists the economy is healthy and says the only thing holding U.S. growth back is the Federal Reserve.Marketsread more
Trading volumes this week are well below their recent averages and that means this comeback may be suspect.Marketsread more
Bank of America CEO Brian Moynihan is not worried about an economic slowdown, saying the U.S. consumer is still in a strong place.Banksread more
In a second-round of tweets aimed at the U.S. central bank, the president asked, "WHERE IS THE FEDERAL RESERVE?"Marketsread more
J.P. Morgan Chase customers will no longer be able to pay with their phones in stores beginning next year.Marketsread more
Gluskin Sheff's David Rosenberg predicts one of the strongest parts of the U.S. economy will disappoint Wall Street and lead to a market meltdown.Futures Nowread more
There just might be $100 billion of cash looking for a deal. JPMorgan's global mergers chairman, Kurt Simon, recently dangled the audacious notion that the capital markets could fully finance a 12-figure acquisition. He didn't suggest such a transaction was in the works, though, and there aren't many plausible targets.
Simon's exuberance is understandable. A record $6.6 trillion of debt was raised globally last year, about half of it the investment-grade corporate variety, according to Thomson Reuters data. JPMorgan helped arrange more of these dollars than any other bank. And just over six months ago, Bayer clinched its takeover of U.S. seeds producer Monsanto in the largest-ever all-cash deal at $66 billion.
It's nevertheless a big leap to the sum Simon suggested among his "2017 predictions," even if he hedged it with a question mark. A scan of Index constituents turns up a few dozen companies in the $60 billion to $90 billion range, leaving room for a premium. Some, including DuPont and Time Warner, are already spoken for in deals. Others, such as Goldman Sachs and Starbucks, would be challenging takeover targets.