The following list comprises the most-read Bloomberg News reports during June.
1. Ex-Goldman Trader Says Bonus Unfairly Cut to $8.25 Million
June 19 (Bloomberg) -- Deeb Salem, a former Goldman Sachs Group Inc. trader who said he helped the bank earn more than $7 billion, wants to be paid the almost $5 million difference between his 2010 bonus and what he told his mother to expect.
2. How Memphis Firm Decoded Bond Secrets Mystifying Wall Street
June 30 (Bloomberg) -- After traveling to Memphis, Tennessee, pay respects to Elvis Presley at Graceland, then take a short drive to FTN Financial to partake in some of the best bond-market advice to be found anywhere.
3. Draghi Unveils Historic Measures to Counter Deflation Threat
June 5 (Bloomberg) -- Mario Draghi unveiled an unprecedented round of measures to help the European Central Bank’s record-low interest rates feed through to an economy threatened by deflation.
4. Credit Suisse Said to Mull Selling More of Fixed-Income Unit
June 9 (Bloomberg) -- Credit Suisse Group AG, Switzerland’s second-biggest bank, is considering selling additional stakes in an electronic interest-rates trading unit it set up last year, according to a person briefed on the plan.
5. Morgan Stanley Gets 90,000 Applications for Summer Program
June 24 (Bloomberg) -- Morgan Stanley, owner of the world’s largest brokerage, received about 90,000 applications for its summer program for analysts and associates.
6. Draghi Takes ECB Deposit Rate Negative in Historic Move
June 5 (Bloomberg) -- The European Central Bank cut its deposit rate below zero and said it would announce further measures later today as policy makers try to counter the prospect of deflation in the world’s second-largest economy.
7. Fed Says Economy Rebounds as It Cuts Bond Buying by $10 Billion
June 18 (Bloomberg) -- The Federal Reserve said growth is bouncing back and the job market is improving as it continued to reduce the monthly pace of asset purchases.
8. U.S. Stocks Slump as Treasuries Climb With Brent Crude on Iraq
June 24 (Bloomberg) -- U.S. stocks fell, reversing earlier gains, and Treasuries advanced amid concern over escalating violence in Iraq as investors gauged the strength of the global economy. Oil held near the highest levels since September.
9. Workers Dying at Desks in China From Killer Stress Epidemic
June 30 (Bloomberg) -- Chinese banking regulator Li Jianhua literally worked himself to death. After 26 years of “always putting the cause of the party and the people” first, his employer said this month, the 48-year-old official died rushing to finish a report before the sun came up.
10. U.S. Economy Shrank in First Quarter by Most in Five Years
June 25 (Bloomberg) -- The U.S. economy contracted in the first quarter by the most since the depths of the last recession as consumer spending cooled.
1. Nobody Knows How Hard It Is as Master of Universe: Michael Lewis
June 15 (Bloomberg View) -- I’d like to start by making a confession: It’s never been easy being me.
2. A $549,000 Watch Is Market Signal Worth Tracking: Barry Ritholtz
June 16 (Bloomberg View) -- I have been hearing a lot about the spending habits of the 0.01 percent lately.
3. There’s Apparently Quite a Bit of Insider Trading: Matt Levine
June 17 (Bloomberg View) -- As I may have mentioned over and over and over and over and over again, the first rule of insider trading is just don’t insider trade, but the second rule is: If you have inside information about an upcoming merger, don’t buy short-dated out-of-the-money call options on the target. The SEC will get you!
4. Einhorn Hit by High-Stakes Poker Ambush: James McManus
June 30 (Bloomberg View) -- Forty-two players wound up paying $1 million apiece to play in the second biennial Big One for One Drop, a three-day poker tournament at the Rio in Las Vegas. Already, the hugely remunerative contest -- widely considered the heavyweight championship of No-Limit Hold ’em -- has had some major surprises.
5. Why I Love Being Alive in Time of Speed Trading: Clifford Asness
June 20 (Bloomberg View) -- Separately, and along with my colleagues Aaron Brown, Michael Mendelson and Hitesh Mittal, I have written several articles on high-frequency trading. We believe HFT has lowered investors’ trading costs and that many of the attacks on it are misguided.
1. Draghi Says ECB Measures ‘Significant,’ More Possible
June 5 (Bloomberg) -- European Central Bank President Mario Draghi unveils an unprecedented round of measures to counter the threat of deflation.
Draghi speaks at his monthly news conference in Frankfurt.
2. Yellen Says Fed to Have Big Balance Sheet for Some Time
June 18 (Bloomberg) -- Federal Reserve Chair Janet Yellen speaks at a news conference in Washington about the U.S. economy and labor market, and the outlook for the central bank’s main interest rate and record monetary accommodation.
3. Carney Says U.K. Housing Market is ‘Biggest’ Risk to Economy
June 26 (Bloomberg) -- Bank of England Governor Mark Carney speaks at a news conference in England about the U.K. housing market and the introduction of measures to limit riskier mortgages that may lead to an unsustainable buildup of consumer debt.
4. Carney Sees Scope to Absorb More Slack Before Rate Rise
June 24 (Bloomberg) -- Bank of England Governor Mark Carney testifies before lawmakers of the U.K. Parliament’s Treasury Committee in London about spare capacity in the U.K. economy, interest rates, the labor market and productivity.
5. Katsuyama, Battalio Testify on High-Frequency Trading
June 17 (Bloomberg) -- Brad Katsuyama, chief executive officer of IEX Group Inc., and Robert Battalio, a professor at Notre Dame University, testify before the Senate Permanent Subcommittee on Investigations about high-frequency trading.
To contact the editors responsible for this story: Alan Mirabella at email@example.com Stanley James