Today’s most shared:
- Public pension funds pull back on hedge fund experiments after meager returns.
- Europe weighs ‘far-reaching’ sanctions on Russia. But cutting back on purchases of Russian gas and commodities does not appear to be one of them. Despite discomfort with instability and brutal realpolitik, a wrist-slap is all Europe can afford, not to mention widespread acceptance of Ukraine remaining in Russia’s sphere of influence.
- Fed too complacent on financial risk, wage rises? Some see signs of labor market tightening.
- International accounting standards move banks from incurred-loss model to expected-loss model, no change yet in USA.
- Ultra-secretive HFT shop makes mint on CME. Don’t tell anyone!
- Who was calling the shots behind penny stock CYNK?
- Summer lull in Washington and on Wall Street.
Wall Street Journal
The largest public pension fund in the U.S. is expected to cut its hedge-fund investments this year by 40%. Other public pensions also are cutting or reconsidering investments in hedge funds.
shared by NYT Dealbook, Business Insider, @ritholtz, @ReformedBroker
EU diplomats will weigh sweeping Russian sanctions on Thursday that include a proposal to ban all Europeans from purchasing any new debt or stock issued by Russia’s largest banks, according to a proposal seen by the Financial Times.
shared by @YanniKouts, @FGoria, @OpenEurope, @humenm
Stagnation is automatically causing debt ratios to spiral upwards yet again across a large part of the currency bloc.
shared by @DougKass, @edwardnh, @Convertbond, @mhewson_CMC
Senior US Federal Reserve officials seem to have slipped back into their pre-2008 ways, ignoring concerns about dangerous financial-sector behavior. That is not only unfortunate; it is also dangerous.
shared by @anatadmati, Naked Capitalism, @edwardnh, @nasiripour, @pdacosta
Wages may be growing at a faster clip than envisaged by U.S. policymakers, with a recent raft of business surveys showing an increase in the number of companies raising compensation.
shared by @Fullcarry, reddit/Economics, @D_Blanchflower
Cynk had no assets and no revenue. But it got a $6 billion valuation. Then it blew up.
shared by @pkedrosky, @StockJockey, @kevinroose, @JacobWolinsky
Tough new rules are set to push banks to take a hit on their balance sheets for losses they expect to make in the future in the culmination of a five-year project to make company accounts paint a more accurate picture.
shared by @volatilitysmile, @FGoria, @Ian_Fraser, @Kiffmeister
Far from Wall Street in a Chicago neighborhood once synonymous with urban blight, two futures industry veterans are using secrecy and speed to mint fortunes.
shared by @JacobWolinsky, @ReformedBroker, @JoeSaluzzi, @ThemisSal, Reformed Broker
Standard & Poor’s may face securities fraud charges for ratings given to six commercial mortgage-backed securities issued in 2011, the credit rating company said.
shared by @YanniKouts, @volatilitysmile, @FGoria, @munilass
Despite chaos abroad, an end-of-summer malaise has settled in early this year and there’s no end in sight.
shared by @tylercowen, @moorehn, @ezraklein
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