Provided the economy performs as well as Federal Reserve policymakers expect, the Fed will phase out large-scale asset purchases within the next 10 months. That’s a big “if” of course. The Fed has been projecting a stronger recovery each of the last four years, only to see growth average around a tepid 2%.
The Libyan Investment Authority recently sued Goldman over some 2008-vintage derivatives trades gone wrong. I wrote about it last week but didn't yet have Libya's complaint. That came out today -- here is the complaint, or in British the "Particulars of Claim" -- and it's fun reading
We believe these commodities are seen as attractive investments now not only because of their relatively low price compared to their prices last year, but also as a potential safe haven investment instead of shaky currencies around the world.
Bats Global Markets Inc.’s merger with Direct Edge Holdings LLC will put a broker-owned stock exchange operator in the top ranks on Wall Street for the first time since NYSE Euronext and Nasdaq OMX Group Inc. went public.
Equity index futures are slumping Friday as investors digest the impact of emergency rescue measures by emerging market central banks whose priority it is to alleviate pressures on domestic currencies.
The Wall Street Journal is on the hard-money side of the debate over recent monetary policy. But its editorial on the departure of Ben S. Bernanke as chairman of the Federal Reserve articulated a conventional wisdom that transcends that debate.
The market has continued to consolidate higher this morning as it searches to test resistance at 1780-82.25. Yesterday's close was 1771.25, the market must hold this level and truly close above the pivot at 1775.75-1776.25 to keep sentiment positive.
Bank of America Corp.’s Countrywide unit should pay the maximum of $2.1 billion in penalties for selling defective mortgage loans to Fannie Mae and Freddie Mac in the run-up to the 2008 financial crisis, the U.S. said.