April 6 (Bloomberg) -- The following list comprises the most-read Bloomberg News reports from the past week.
To read any article, click on the story links shown below or go to READ 1W <GO>. See NI READSUMS <GO> for previous lists of the most-read stories. Lists are based on daily statistics through Friday, April 4.
1. Lewis Likens Einhorn to ‘Dumb Tourist’ in Fixed Card Game
April 2 (Bloomberg) -- In today’s “rigged” U.S. stock market, large investors such as Greenlight Capital Inc.’s David Einhorn are like “dumb tourists” led to a casino where the card games are fixed, according to Michael Lewis, whose book “Flash Boys” has touched off a national debate about high-frequency trading.
2. Stock Trader Speed Craze Threatens Stability, Schneiderman Says
March 31 (Bloomberg) -- The technological arms race among professional equity traders threatens to destabilize U.S. markets and more should be done to limit their speed, according to New York Attorney General Eric Schneiderman.
3. ‘Shame on You’ Is Bats Executive’s Rebuttal of Michael Lewis
April 1 (Bloomberg) -- Author Michael Lewis’s argument that U.S. stock trading is rigged reflects a misunderstanding of how the market operates and its history, said Bill O’Brien, the president of exchange operator Bats Global Markets Inc.
4. High-Frequency Traders Chase Currencies as Stock Volume Recedes
April 2 (Bloomberg) -- Forget the equity market. For high-frequency traders, the place to be is foreign exchange.
5. Stocks Fall as Nasdaq Tumbles; Treasuries Rally on Jobs Report
April 4 (Bloomberg) -- U.S. stocks tumbled, with the Nasdaq Composite Index falling the most in two months, as investors continued a selloff of the bull market’s biggest winners. Treasuries rallied as jobs data boosted speculation the Federal Reserve will remain accommodative on rates.
6. Goldman Sachs Wins, Credit Suisse Loses in Lewis’s League Table
April 4 (Bloomberg) -- Just as Wall Street league tables rank firms by the size of their deals, author Michael Lewis provides his own hierarchy in the way his latest book describes banks’ stock-trading divisions.
7. Hedge Fund March Letters to Tell of Favorite Trades Unraveling
March 31 (Bloomberg) -- Pity the poor folks who have to write letters to investors on behalf of equity-focused hedge funds this month.
8. Jeter’s Agent Beats Jay Z With $700 Million MLB Offseason
March 31 (Bloomberg) -- Casey Close has become one of Major League Baseball’s heaviest hitters without swinging a bat.
9. Yellen Says Job-Market Slack Shows Need for More Fed Support
March 31 (Bloomberg) -- Federal Reserve Chair Janet Yellen, easing investor concern that interest rates may rise earlier than previously forecast, said the world’s biggest economy will need Fed stimulus for “some time.”
10. Companies in U.S. Power Labor Market Past Milestone: Economy
April 4 (Bloomberg) -- Companies powered the U.S. job market past a milestone in March as private employment exceeded the pre-recession peak for the first time, showing the kind of progress Federal Reserve officials look for to maintain their current policy course.
1. Brooklyn Is Top of Food Chain as Bekay Said It Was: Opening Line
April 4 (Bloomberg) -- “I’m from the B-R-double-O-K, L-Y-N If I wasn’t, then why would I yell I am? You see, this be the home of Spike Lee. Folks think it’s dangerous -- I don’t know it might be slightly. But that depends on which blocks you be steppin’ down. Cause certain neighborhoods they never put they weapon down.”
2. Citigroup, Credit Suisse Tripped Up By Past Sins: Jonathan Weil
April 3 (Bloomberg) -- Past sins have a funny way of catching up with banks, especially those where the bosses have trouble keeping track of what goes on inside them.
3. Republican Senate Could Bypass Vetoes: Albert R. Hunt
March 30 (Bloomberg) -- If Republicans take control of the U.S. Senate in this year’s elections, it will be, as Vice President Joe Biden might put it more graphically, a big deal.
4. Abe’s 200,000 Immigrant Dream Is Wage Nightmare: William Pesek
April 2 (Bloomberg) -- As it peers into an uncertain future, Japan’s biggest problems can be summed up in a number: 250.
5. China’s $14.5 Billion Scandal Rocks Xi’s Party: William Pesek
March 31 (Bloomberg) -- It’s great that China’s President Xi Jinping is pouncing on ex-security chief Zhou Yongkang. By seizing assets worth an estimated $14.5 billion and launching the biggest corruption probe in modern history, Xi is showing he’s serious about curbing the excesses imperiling China’s future. Right?
1. Draghi Says ECB Doesn’t Exclude Further Monetary Easing
April 3 (Bloomberg) -- European Central Bank President Mario Draghi speaks at his monthly news conference in Frankfurt about the decision to leave the benchmark interest rate unchanged at a record low of 0.25 percent.
2. Yellen Says Economy Needs Fed Support for ‘Some Time’
March 31 (Bloomberg) -- Federal Reserve Chair Janet Yellen speaks about the U.S. economy, labor market and central bank policy.
3. Katsuyama, Narang, Lewis Debate High-Frequency Trading
April 2 (Bloomberg) -- Brad Katsuyama, chief executive officer of IEX Group Inc., and Manoj Narang, CEO of Tradeworx Inc., and Michael Lewis, author of “Flash Boys,” talk about high-frequency trading and the structure of the U.S. equity market.
4. Lewis Likens Einhorn to ‘Dumb Tourist’ in Fixed Casino
April 2 (Bloomberg) -- Michael Lewis talks about high-frequency trading, the U.S. stock market and financial regulation.
5. Michael Lewis Says U.S. Stock Market Is ‘Rigged’
March 31 (Bloomberg) -- Michael Lewis talks about high-frequency trading and the U.S. stock market in an interview televised yesterday on CBS Corp.’s “60 Minutes.”
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