Most Read on Bloomberg: Deutsche Bank Drops, U.S. Stocks Reboundby
(Bloomberg) -- The most-read Bloomberg News reports from the past week are listed below. The rankings are based on daily statistics through Sept. 17.
See READSUMS for previous lists.
1. Deutsche Bank Tumbles as DOJ Claim of $14 Billion Is Rebuffed
(Bloomberg) -- Deutsche Bank AG’s shares and its riskiest bonds dropped the most since Brexit after the lender said the U.S. Justice Department is seeking $14 billion to settle a probe tied to residential mortgage-backed securities, more money than it’s willing to pay.
2. U.S. Stocks Rebound While Dollar Slips as Fed Rate Odds Retreat
(Bloomberg) -- U.S. stocks rallied after the biggest rout since June wiped about $500 billion from the value of equities, while the dollar weakened as the Federal Reserve’s Lael Brainard remained dovish in her approach to tighter monetary policy. Emerging-market assets slumped.
3. U.S. Stocks Sink With Debt as Market Turmoil Resumes; Oil Drops
(Bloomberg) -- U.S. stocks retreated with sovereign debt, while a plunge in crude oil spurred gains in the dollar as investors calibrated expectations toward prospects of less global monetary stimulus.
4. Clinton Campaign Vows More Disclosure of Nominee’s Health
(Bloomberg) -- Hillary Clinton’s campaign promised to release more details about the state of her health in an attempt to tamp down backlash and speculation after the delayed disclosure of the Democratic presidential nominee’s bout of pneumonia.
5. World’s Most Elite Bond-Trading Club Isn’t What It Used to Be
(Bloomberg) -- To see how far the prestige of the U.S. Treasury market’s primary dealers has declined, consider the case of Credit Agricole SA.
6. Wall Street’s 0.01%: The Guru Who Only Talks to Hedge-Fund Elite
(Bloomberg) -- Jens Nordvig, one of the hottest prognosticators in finance, will sell anyone his secret sauce for winning trades for $30,000 a year.
7. Trump Has 5-Point Lead in Bloomberg Poll of Battleground Ohio
(Bloomberg) -- Donald Trump leads Hillary Clinton by 5 percentage points in a Bloomberg Politics poll of Ohio, a gap that underscores the Democrat’s challenges in critical Rust Belt states after one of the roughest stretches of her campaign.
8. U.S. Stocks Fade as Jitters Persist Amid Oil Rout; Bonds Advance
(Bloomberg) -- U.S. stocks erased gains as a slump in oil sank energy shares, overshadowing a rally in Apple Inc. amid concern the rout that’s wiped out $2 trillion in global equity value the past week isn’t over. Treasuries advanced, while the dollar retreated.
9. U.S. Stocks Rally Amid Apple Gains as Oil Rises; Dollar Weakens
(Bloomberg) -- Shares in the U.S. rose from a two-month low as Apple Inc. extended gains into a fourth day and a rebound in crude prices boosted energy stocks. The dollar retreated amid data showing the world’s biggest economy is on an uneven footing.
10. Clinton, Suffering From Pneumonia, Cancels Trip to California
(Bloomberg) -- Democratic presidential nominee Hillary Clinton canceled a two-day trip to California after her campaign disclosed Sunday that she’s suffering from pneumonia.
1. The Latest Market Selloff May Be Different: Mohamed A. El-Erian
(Bloomberg View) -- Stock markets were beset by interest-rate jitters on Friday, making it the worst day for the major U.S. averages since late June.
2. Focus on Fed Hike’s Timing Is a Distraction: Mohamed A. El-Erian
(Bloomberg View) -- It is unfortunate to see market participants and observers obsess so much over the exact timing of the Federal Reserve’s next interest rate hike. Speeches and comments by Fed governors and regional presidents are dissected for any hint: Will it be next week or will central bankers wait until December?
3. Clinton Never Learns That She Can’t Hide Stumbles: Megan McArdle
(Bloomberg View) -- I checked in on the morning news on Sunday to find Fox News reporting that Hillary Clinton had been rushed away from the 9/11 memorial she was attending, and had appeared to faint as the Secret Service herded her into a waiting van. Her press pool was prevented from following. What followed was perhaps the most amazing spin cycle of my media career, unfolding in 140-character, exclamation-point-ridden indignation modules.
4. The Estate Tax Debate We Shouldn’t Be Having: Barry Ritholtz
(Bloomberg View) -- Greg Mankiw, the Harvard professor and former adviser to President George W. Bush, has called for abandoning the estate tax. His argument, supported by anecdotal evidence and some wonky explanations, isn’t terribly persuasive. But he did remind us that Democratic presidential candidate Hillary Clinton wants to "increase the tax by reducing the threshold to $3.5 million and raising the rate to 45 percent," while Republican nominee Donald Trump wants to eliminate it. At the very least, we should be thinking about what really should matter to the incoming administration.
5. The Reason the Lehman Moment Still Is With Us: Barry Ritholtz
(Bloomberg View) -- Today is the eighth anniversary of the Lehman Brothers bankruptcy. Not enough time has passed yet for me to recall those anxious days without getting angry.
1. Fed’s Brainard Speaks: Monetary Policy, U.S. Economy
(Bloomberg) -- Federal Reserve Governor Lael Brainard speaks about monetary policy and the U.S. economy. Speaking at the Chicago Council on Global Affairs, Brainard counseled continued prudence in tightening monetary policy, even as she said the economy is making gradual progress toward achieving the central bank’s goals. Michael Moskow, vice chairman of the council, moderates.
2. Dimon Speaks: Fed Rate Hike Timing, Economy, Regulation
(Bloomberg) -- Jamie Dimon, chief executive officer of JPMorgan Chase & Co., speaks about Federal Reserve policy, the economy and financial regulation. Speaking at the Economic Club of Washington, Dimon said the Fed should increase interest rates, sooner rather than later. David Rubenstein, president of the club and co-founder of Carlyle Group, moderates.
3. Donald Trump Speaks About Tax Plan, U.S. Economy
(Bloomberg) -- Republican presidential nominee Donald Trump speaks about his tax proposal and the U.S. economy. Trump speaks at the Economic Club of New York. His running mate, Mike Pence, gives introductory remarks. John Paulson, president of Paulson & Co., moderates.
4. Fed’s Lockhart Speaks: U.S. Economy, Monetary Policy
(Bloomberg) -- Federal Reserve Bank of Atlanta President Dennis Lockhart speaks about the U.S. economy, monetary policy and inflation. He speaks at the National Association for Business Economics’ annual meeting in Atlanta.
5. Fed’s Kashkari Speaks: Economy, Rates, Too Big to Fail
(Bloomberg) -- Federal Reserve Bank of Minneapolis President Neel Kashkari speaks about U.S. economy, monetary policy, the central bank’s structure and financial regulation. He speaks in St. Paul, Minnesota.