Today’s most shared:
- Brick-and-mortar stores have more than a weather problem. Death of the mall? On the other hand, hotels are on track for best year since 2000.
- Adelson, Buffett, Gates favor immigration reform, decry political gridlock.
- Epic possible ‘pump-and-dump’ with no assets or revenue but $4b valuation – halted by SEC.
- Wall Street trading revenue dries up.
- Fed’s Fischer argues for explicit financial stability manadate for the Fed. Fed looks at overhauling Fed funds rate calculation.
- SEC to order institutional money market funds to float share price, break the buck.
- Technology is a dilemma for GDP calculations. Digital services create huge effective price drops, Moore’s law would suggest prices dropping by 50% every couple of years for technology that is an ever greater part of the economy.
- Is Big Oil the new subprime? New projects require ever-higher oil prices, as alternatives are more and more competitive.
- Department of possibly spurious correlations: racehorse prices rise, signaling less caution.
Wall Street Journal
American retailers may have more than a weather problem. For many stores, customer traffic has slowed and sales weakened in the spring, when warmer temperatures had been expected to help business.
shared by @DougKass, @jennablan, Naked Capitalism
Right now it looks like 2014 will be the best year since 2000 for hotels.
shared by Business Insider, @BarbarianCap, @calculatedrisk
New York Times
Congress should start by encouraging skilled workers and investors.
shared by @ModeledBehavior, @JacobWolinsky, Business Insider
This is so bizarre.
shared by @markgongloff, Huffington Post, @finansakrobat
In The Matter Of Cynk Technology Corp. – Suspension of Trading
shared by @JacobWolinsky, @LongShortTrader
Alibaba Group Holding Ltd.’s proposal for what could be the largest initial stock offering in U.S. history is sailing through Washington with few bumps.
shared by @niubi, @prchovanec
Warnings that Wall Street trading revenue would plummet have been coming since May, now we’re going to see how bad the situation really is.
shared by @howardlindzon, @ReformedBroker, reddit/Economics
New York Times
Financial regulators say a new Ponzi scheme operator is found nearly every week, and legal actions are brought against about 100 such questionable investment operations every year.
shared by @JacobWolinsky, @ritholtz
The Federal Reserve Board of Governors in Washington DC.
shared by @HamzeiAnalytics, @BCAppelbaum, reddit/Economics
Imagine Fed Governor Rip van Winkle started his nap at the beginning of 2007 and just woke up to find that inflation is close to the Fed’s objective and the unemployment rate is at its 30-year average. You could forgive him for expecting rates to be closer to their long-run averages.
shared by @MarkThoma, reddit/Economics
Stanley Fischer says policymakers lack strong understanding of effectiveness of macroprudential tools
shared by @ObsoleteDogma, @MarkThoma
The US Federal Reserve is exploring an overhaul of the Federal funds rate – a benchmark that underlies almost every financial transaction in the world – as it prepares for an eventual rise in interest rates.
shared by @DougKass, @MarkThoma, @naufalsanaullah, @TFMkts
Our techniques for measuring economic performance are obsolete, obscuring a complete picture of how we’re faring.
shared by @delong, Abnormal Returns, reddit/Economics, @INETeconomics
The riskiest money-market mutual funds will have to let their share prices fluctuate and charge investors withdrawal fees during times of stress under tougher U.S. rules set for adoption this month.
shared by Business Insider, @BarbarianCap, @JohnLothian, @eisingerj
The cumulative blitz on energy exploration and production over the past six years has been $5.4 trillion, yet production is flat as the industry is running to stand still.
shared by reddit/Economics, @BarbarianCap, @pcdunham
The average job opening went unfilled for 25.1 days in May, the longest duration on record. Exactly why employers are dragging their feet so much is unclear.
shared by @crampell, @MarkThoma, reddit/Economics, Marginal Revolution
Wall Street Journal
A hallmark of this recovery has been the skittishness of businesses, especially when it comes to undertaking big capital spending projects. That caution seems to be easing—and the idea comes straight from the horse’s mouth.
shared by @crampell, @TheStalwart, Abnormal Returns, @munilass
New York Fed
Are bitcoins the new ‘Assignats?’
shared by @Alea_, @FGoria, @NYFed_news, @Kiffmeister
StreetEYE.com follows the best ‘curators’ on the web and social media, and finds all the top financial news right now, as voted by you.
Please help us pick the most important stories you think should appear in this linkfest by voting here!