Sloane Ortel and Thomas Brigandi's examination of the seven asset owner organizations shaping the market and a review of Richard Bookstaber's The End of Theory by Robert N. Farago, ASIP, are among the leading Enterprising Investor posts from February.
This work is effectively two books in one: (1) an account of the rise and internationalization of the renminbi and of its prospects for continued ascendancy over the near term and the medium term and (2) a concise description of the various vehicles for investing in Chinese assets.
The concepts presented in Adaptive Markets relate to all types of investors, assets, and markets. Andrew Lo reviews efficient markets, the random walk, and standard risk/reward measures in investments.
US Sens. Sherrod Brown and Elizabeth Warren have criticized Randal Quarles, vice chairman for supervision at the Federal Reserve, for backing a proposal to relax the supplementary leverage ratio for the eight largest banks. Fed Governor Lael Brainard cast the sole vote against the proposal. MLex (subscription required) (21 May.)
Investors are selling off Italian bonds amid concerns about the political landscape, as two populist parties develop a government, and about a potential request to write down debt. The two-year yield is the highest in almost three years at 0.28%, and the 10-year yield was 20 basis points higher Monday compared with Friday. Bloomberg (tiered subscription model) (21 May.)
Chinese and US negotiators have agreed on an outline of a compromise under which the US lifts a ban on domestic companies' sales to Chinese telecommunication firm ZTE, sources say. As an alternative, ZTE reportedly must revamp management and might have to pay large fines. MarketWatch (22 May.)
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