Most Read on Bloomberg: Resurgent Stocks, Hobbled Hedge Fundsby
The most-read Bloomberg News reports from the past week are listed below. The rankings are based on daily statistics through May 28.
See READSUMS for previous lists.
1. Stocks Extend Rally as Fed Angst Eases; Supply Drop Boosts Crude
(Bloomberg) -- Don’t fear the Fed is the new mantra for global markets.
2. Stocks Rally as Fed Outlook Boosts Banks, Dollar; Gold Tumbles
(Bloomberg) -- U.S. stocks joined a rally in European shares as growing conviction that the Federal Reserve will raise interest rates this summer sparked gains in financial equities. The dollar rose, while Treasuries fell as housing data reinforced confidence in the strength of the American economy.
3. Bayer’s $62 Billion Monsanto Bid Raises Alarm on Final Price
(Bloomberg) -- Bayer AG offered $62 billion to buy Monsanto Co., deepening investor concern that it will strain its finances as it seeks to become the world’s biggest seller of seeds and farm chemicals.
4. Hedge Funds May Lose 25% of Assets, Blackstone’s James Says
(Bloomberg) -- The $2.9 trillion hedge-fund industry may lose about a quarter of its assets in the next year as performance slumps, said Tony James, Blackstone Group LP’s billionaire president.
5. Morgan Stanley’s Tesla Analyst Will Make You Forget Goldman Call
(Bloomberg) -- Before Patrick Archambault, there was Adam Jonas.
6. Clinton E-Mail Use Violated Rules, Inspector General Finds
(Bloomberg) -- Democratic presidential front-runner Hillary Clinton’s use of a private e-mail system while she was secretary of state violated State Department rules, the agency’s inspector general concluded in a report that will hand Republicans an additional line of attack as the general election campaign gets under way.
7. Tudor Cuts Fees on Biggest Fund to Keep Investors on Board
(Bloomberg) -- Tudor Investment Corp., one of the oldest and most expensive hedge funds, is trimming fees as the finance industry’s highest-paid money managers face a growing backlash over their lackluster performance.
8. U.S. Stocks Retreat on Fed Rate Uncertainty as Crude, Gold Drop
(Bloomberg) -- U.S. stocks slipped amid a retreat in crude oil, as investors awaited more clarity on the timing of the next potential rate increase from the Federal Reserve and the outlook for American inflation.
9. El-Erian Says Fed Is Talking Up Rate Hike as July Odds Increase
(Bloomberg) -- Mohamed El-Erian said Federal Reserve officials are promoting the idea that they’re preparing to raise interest rates, as a global bond market rally slows.
10. Cold Coffee Is Booming in U.S.; Now Everyone Is Piling In
(Bloomberg) -- The coffee industry is getting ready for its very own big chill.
1. Clinton Can Demolish Trump With One Message: Ramesh Ponnuru
(Bloomberg View) -- Each party is on track to nominate the only candidate who could possibly lose the election to the other. In the latest Washington Post-ABC poll, a sizable majority of Americans considered Donald Trump unqualified to be president. But Hillary Clinton is so unpopular that they still preferred Trump to her.
2. Clinton’s Server Doesn’t Look Like Honest Mistake: Megan McArdle
(Bloomberg View) -- Today is the day that so many of us have been waiting for: The State Department’s Office of Inspector General has released its report about Hillary Clinton’s use of a private e-mail server while she was secretary of state. The report does not uncover any smoking guns -- no records of Clinton saying “Heh, heh, heh, they’ll never FOIA my e-mails NOW!!!!” -- what it does lay out is deeply troubling. Even though her supporters have already begun the proclamations of “nothing to see here, move along.”
3. Central Banks Can’t Go It Alone Anymore: Mohamed A. El-Erian
(Bloomberg View) -- Whether through signals from the Group of Seven meeting this week or in the outcome of the latest round of European negotiations onGreece, officials of advanced countries increasingly are acknowledging that the problems facing their economies require a new response to take over from the overlong use of narrow short-term tools.
4. Countrywide Hustle Turns Out Not to Be Fraud: Matt Levine
(Bloomberg View) -- Let’s say that there are two kinds of mortgages in the world: Acceptable and Unacceptable. You want to buy Acceptable mortgages, but not Unacceptable ones. I make the mortgages, in my mortgage factory, and I know which ones are Acceptable and which are Unacceptable. But you do not. I sell the mortgages to you.
5. If You’re a Great Investor, Where’s Your Alpha?: Barry Ritholtz
(Bloomberg View) -- Is alpha, the Wall Street term for market-beating returns, sustainable? Or is it a unique, statistical outlier, indistinguishable from random chance?
1. BOE’s Carney Speaks to Treasury Committee: Full Hearing
Bank of England Governor Mark Carney testifies before the U.K. Treasury Select Committee in London on the bank’s latest inflation report. BOE policy makers Gertjan Vlieghe, Ben Broadbent and Martin Weale also speak.
2. RBA’s Stevens Speaks About Economy, Inflation Target
Reserve Bank of Australia Governor Glenn Stevens talks about the nation’s economy and the central bank’s inflation target. He speaks at an event in Sydney.
3. Bill Gross on Monetary Policy and Asset Prices
Bill Gross, Janus Capital fund manager, comments on the performance of the Janus Global Unconstrained Bond Fund, U.S. fiscal and monetary policies, and the current state of asset prices. He speaks with Bloomberg’s Erik Schatzker at the Bloomberg FI16 conference in Beverly Hills, California.
4. Trump News Conf.: Keystone XL, Energy Policy, Clinton
Republican presidential candidate Donald Trump speaks about TransCanada Corp.’s proposed Keystone XL oil pipeline, U.S. energy policy, Hillary Clinton. Speaking at a news conference in Bismarck, North Dakota, Trump also discusses the outlook for selecting a running mate.
5. Carstens Delivers Banxico Inflation Report (Spanish)
Mexican Central Bank Governor Agustin Carstens speaks about the outlook for the country’s economy and inflation. Carstens spoke at a press conference in Mexico City.
--With assistance from Anny Kuo in New York.