Most Read on Bloomberg: Fed-Rate Angst, Cooperman’s Challengeby
The most-read Bloomberg News reports from the past week are listed below. The rankings are based on daily statistics through Sept. 24.
See READSUMS for previous lists.
1. Two of Fed’s Own Primary Dealers Warn Shock Hike Awaits Markets
(Bloomberg) -- There’s uncommon dissent in the ranks of the Federal Reserve’s primary dealers over the central bank’s interest-rate decision this week.
2. BOJ Shifts Policy Framework to Targeting Japan’s Yield Curve
(Bloomberg) -- The Bank of Japan shifted the focus of its monetary stimulus Wednesday from expanding the money supply to controlling interest rates, which some economists deemed as further evidence that BOJ policy had reached the limits of its effectiveness.
3. More Guns to Greet New York After Another Suspiciouus Package
(Bloomberg) -- Bomb-sniffing dogs and transportation headaches greeted New Yorkers and visiting dignitaries Monday as the city searched for those responsible for planting the Chelsea dumpster bomb that injured 29 people and a suspicious package found overnight in New Jersey.
4. Stocks Rise With Bonds as Fed Damps Rate Outlook; Dollar Weakens
(Bloomberg) -- Stocks advanced with bonds, while the dollar retreated as the Federal Reserve lowered its outlook for long-term interest rates. Oil jumped.
5. Divided Fed Holds Fire, Signals 2016 Rate Increase Still Likely
(Bloomberg) -- A divided Federal Reserve left its policy interest rate unchanged to await more evidence of progress toward its goals, while projecting that an increase is still likely by year-end.
6. Omega’s Cooperman Accused by SEC of Insider Trading in Atlas
(Bloomberg) -- Famed investor Leon Cooperman was accused of insider trading by U.S. regulators in the government’s highest-profile case against a hedge fund manager since its crackdown on SAC Capital Advisors.
7. Cooperman Had Long, Often Costly Alliance With Cohen Family
(Bloomberg) -- Leon Cooperman, accused Wednesday of buying shares in Atlas Pipeline Partners after obtaining insider information, has been investing with the family that managed the company for more than a decade. It hasn’t always paid off.
8. Dollar Falls With Treasuries Amid Fed, BOJ Countdown; Oil Rises
(Bloomberg) -- The dollar dropped with Treasuries as traders braced for key policy decisions in the U.S. and Japan. Oil rallied.
9. Stocks, Bonds Climb as Fed Buttresses Cheap-Money Era; Oil Jumps
(Bloomberg) -- From the U.S. to Europe and Asia, markets are sending a clear signal -- the era of cheap money is far from over.
10. It Took Only 12 Hours to Crowdfund $1 Million for House Flipping
(Bloomberg) -- Alex Sifakis never raised this much money this fast. The house flipper from Jacksonville, Florida, crowdfunded nine deals totaling more than $9 million through RealtyShares over the last two and a half years. A July deal for $1 million took him just 12 hours.
1. One Cooperman Thought Another’s Trades Were Fishy: Matt Levine
(Bloomberg View) -- It turns out that having Leon Cooperman for a grandpa is pretty much exactly like you’d expect.
2. Fed Meeting Shouldn’t Obscure BOJ’s Moment: Mohamed A. El-Erian
(Bloomberg View) -- This week, much attention will focus on the Open Market Committee of the U.S. Federal Reserve, the most powerful central bank in the world, whose actions have global impact. Yet the most informative, and intriguing, policy decision could take place in Tokyo. And the outcome will not only tell us more about Japan’s daunting challenges, but could also signal more clearly what lies ahead for other central banks that continue to operate within an unbalanced macro-economic policy mix.
3. Harvard Does a Trade You Should Never Make: Barry Ritholtz
(Bloomberg View) -- The Harvard Management Co., which oversees Harvard University’s endowment and other investments, just released its 2016 annual report. It’s grim reading: The fund had a negative return of 2 percent and was worth about $2 billion less than a year earlier, underperforming its benchmarks by a significant margin.
4. What If You’re Not as Rich as You Think You Are?: Satyajit Das
(Bloomberg View) -- The idea that the world is awash in savings -- one factor driving the theory of secular stagnation -- is, on the surface, a persuasive one. Too bad it may not be true.
5. Professors Don’t Feel the Economy’s Pain: Narayana Kocherlakota
(Bloomberg View) -- In the eight months since I returned to academia from a six-year stint at the Federal Reserve, I’ve noticed a strange inertia: Despite the shocking experience of a global financial crisis and prolonged economic slump, most macroeconomic research is guided by the same paradigms that prevailed ten years ago.
1. BOJ’s Kuroda News Conference: Policy, Economy
(Bloomberg) -- Bank of Japan Governor Haruhiko Kuroda talks about policy and the nation’s economy at a press briefing in Tokyo.
2. Yellen News Conference: Fed Policy, Economy
(Bloomberg) -- Federal Reserve Chair Janet Yellen speaks at a news conference in Washington about the central bank’s rate decision, the economy and the labor market.
3. Wells Fargo CEO Stumpf Testifies: Account Abuses
(Bloomberg) -- John Stumpf, chief executive officer of Wells Fargo & Co., testifies about the bank’s review into unauthorized customer accounts opened by employees. He testifies before the Senate Banking Committee.
4. FOMC Rate Decision Coverage
(Bloomberg) -- Bloomberg Television covers the Federal Open Market Committee rate decision announcement.
5. Mylan CEO Testifies: EpiPen Pricing
(Bloomberg) -- Heawther Bresch, chief executive of Mylan Inc., testifies before the House Oversight and Government Reform Committee in Washington about the price of EpiPens.
--With assistance from Anny Kuo in New York.