Most Read on Bloomberg: Negative U.S. Yields, Fiasco at Nomuraby
The most-read Bloomberg News reports from the past week are listed below. The rankings are based on daily statistics through August 13.
See READSUMS for previous lists.
1. Bond Market’s Big Illusion Revealed as U.S. Yields Turn Negative
(Bloomberg) -- For Kaoru Sekiai, getting steady returns for his pension clients in Japan used to be simple: buy U.S. Treasuries.
2. Nomura ‘Lost Control’ in Firing Salesman Over $40 Million Loss
(Bloomberg) -- Giovanni Lombardo, a bond salesman for Nomura Holdings Inc.in London, was starting to worry about Alberto Statti.
3. Buffett Exits Credit Derivatives, Pays $195 Million on Last Deal
(Bloomberg) -- Warren Buffett just took another step to simplify Berkshire Hathaway Inc.’s stockpile of derivatives.
4. Trump Resurrects Worries on His Character and Nation’s Violent Past
(Bloomberg) -- Donald Trump’s latest controversial comments did more than make it harder for him to win over undecided voters concerned about his temperament—it resurrected an ugly history of U.S. violence at the presidential level.
5. New IPhone Said to Have Dual Camera, Pressure-Sensing Touch
(Bloomberg) -- Apple Inc. is preparing to unveil successors to the iPhone 6S and iPhone 6S Plus as early as next month with more advanced photography capabilities and upgraded hardware in a design similar to that of last year’s models, according to people familiar with the matter.
6. Brexit Red Lines Drawn by EU-27 as U.K. Plans Its Strategy
(Bloomberg) -- U.K. Prime Minister Theresa May faces a daunting array of demands from European Union nations when the time comes to negotiate Britain’s future relationship with the bloc, an analysis of the region’s 27 other members shows.
7. Famed Investor Bill Miller Leaves Legg Mason After 35 Years
(Bloomberg) -- Bill Miller is severing ties with Legg Mason after more than three decades.
8. Dollar Falls, Bonds Rise on Bets Fed to Move Slowly; Kiwi Jump
(Bloomberg) -- The dollar weakened, boosting metals prices amid gains in government bonds, as the idea that U.S. policy makers are in no rush to raise interest rates solidified. U.S. stocks dropped with crude oil.
9. Oil Climbs With Emerging-Market Assets as U.S. Stocks, Yen Fall
(Bloomberg) -- Oil climbed with emerging-market assets on optimism central-bank stimulus and a strengthening U.S. economy will sustain global growth. American stocks fell.
10. Trump Said to Propose Moratorium on New Financial Regulations
(Bloomberg) -- Donald Trump will propose a temporary moratorium on new financial regulations in an economic speech Monday in Detroit in an effort to draw a stark contrast with the domestic policies of Hillary Clinton, who he says “punishes” the American economy.
1. The Titanic Risks of the Retirement System: Mohamed A. El-Erian
(Bloomberg View) -- Imagine an entire enterprise set on course for disaster, driven by the owner’s arrogant pursuit of profit. The members of the management team, from the CEO on down, know better but fail to resist or are ignored. The clients remain totally unaware of the risks until far too late, with catastrophic results -- particularly for the poorest among them.
2. Sure, Invest Like a Billionaire, If You Are One: Barry Ritholtz
(Bloomberg View) -- Sell everything!
3. The Big Idea That Won’t Fix Europe’s Bank Problem: Tyler Cowen
(Bloomberg View) -- Europe’s banks have had a rough year: Their stock prices have fallen so low that some observers wonder whether they are viable in their current form.
4. Abenomics Will Never Work, but Japan Will Be Fine: Chen Zhao
(Bloomberg View) -- Japanese Prime Minister Shinzo Abe recently announced plans for yet another round of aggressive economic stimulus. But it’s doubtful that this new initiative will make much difference. The problem is that the policy objectives of so-called Abenomics are ill-conceived to begin with -- and given demographic reality, they’ll never work.
5. Trump’s Fairy Tale About the Fall of Detroit: Paula Dwyer
(Bloomberg View) -- Donald Trump all but claims the economic policies of President Barack Obama and Hillary Clinton caused Detroit’s 2013 bankruptcy. In a Monday speech in the Motor City, the Republican nominee said he’d cut taxes, eliminate regulations and negotiate more advantageous trade deals to revive Detroit and help other struggling cities.
1. Trump Speaks: Economic Policy, Tax Plan, Regulation
(Bloomberg) -- Republican presidential nominee Donald Trump speaks about his tax proposals, economic policy and financial regulation. He speaks at the Detroit Economic Club.
2. Donald Trump: 2nd Amendment People ’Maybe’ Could Stop Clinton
(Bloomberg) -- At a rally in Wilmington, North Carolina, Donald Trump made a controversial statement concerning Hillary Clinton and the possibility of her appointing judges to the Supreme Court. The Republican nominee said that if Clinton gets to pick her judges “there’s nothing you can do.” He continued, “Although the second amendment people maybe there is, I don’t know.”
3. Hillary Clinton Speaks About Economy, Trade, Trump
(Bloomberg) -- Democratic presidential nominee Hillary Clinton speaks about the economy, the labor market, trade and Republican rival Donald Trump. She speaks in Warren, Michigan.
4. Adam Parker’s ‘Simple Bull Call’ for U.S. Markets
(Bloomberg) -- Adam Parker, chief U.S. equity strategist at Morgan Stanley, examines what the U.S. dollar means to multinational corporations, and offers his bullish market outlook and explanation on how the Federal Reserve has begun tightening monetary policy. He speaks on "Bloomberg Surveillance."
5. How Libor’s Rise Raises the Stakes for the Fed
(Bloomberg) -- George Goncalves, head of U.S. rates strategy at Nomura Securities, examines the factors driving the 3-Month LIBOR rate to seven-year highs and how that affects the Federal Reserve’s rate-hike path. He speaks on "Bloomberg ‹GO›."
--With assistance from Anny Kuo in New York.