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consumer James Saft Money rates tax cuts Top News 

Chance of Fed hitting ‘terminal rate’ looking terminal: James Saft

June 15, 2017 By James Saft (Reuters) – The main thing terminal about the Federal Reserve’s ‘terminal’ interest rate projections are the chances of rates actually making it that high in the foreseeable future. As expected, the Fed hiked on Wednesday by 25 basis points to 1.0-1.25 percent, but did so against an inflation and consumer backdrop which casts grave doubt that it will actually be able to reach the 3 percent ‘terminal’ rate it sees as a future baseline. Arguing that recent shortfalls in inflation were “transitory,” the Fed…

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attack cyber debt Money security Top News 

U.S. muni market slowly starts paying heed to cyber risks

June 14, 2017 By Hilary Russ NEW YORK (Reuters) – A rise in cyber attacks on U.S. public sector targets so far has had little impact in the $3.8 trillion municipal debt market, with no issuer as yet hit by a downgrade or higher borrowing costs because of a cyber security threat. That is beginning to change. S&P Global has begun to quiz states, cities and towns about their cyber defenses, and some credit analysts are starting to factor cyber security when they look at bonds. Moody’s Investors Service is…

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America Corp Business Money RBC Royal Bank Top News 

Bank of America prime brokerage executive jumps to RBC

June 14, 2017 By Lawrence Delevingne NEW YORK (Reuters) – Jonathan Yalmokas has resigned as Bank of America Corp’s head of prime brokerage in the Americas to lead an equity financing business at Royal Bank of Canada, a person familiar with the move said on Wednesday. Yalmokas will start at RBC’s New York office in September in a bid to expand its financing business for investment managers, according to the person, who was not authorized to discuss the information publicly. RBC spokeswoman Hannah Sloane confirmed on Wednesday that Yalmokas would…

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change Jeffrey Gundlach Money rates Top News 

Gundlach warns U.S. low-risk financial environment could change

June 13, 2017 By Jennifer Ablan NEW YORK (Reuters) – The lengthy low-risk, low-volatility U.S. financial environment should not be viewed as a “new paradigm,” influential bond investor Jeffrey Gundlach said on a webcast on Tuesday. Wall Street gained on Tuesday, with the S&P 500, Dow industrials and Russell 2000 setting record closing highs, as technology stocks bounced back and investors positioned ahead of an expected Federal Reserve interest rate hike. Against that backdrop of soaring stock markets, the CBOE Volatility Index, also known as the VIX Index or the…

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Asia Bengaluru Editing Chief Investment Office Europe Money Top News 

Deutsche Bank’s wealth management arm to hire 100 client managers

June 12, 2017 (Reuters) – Deutsche Bank AG’s wealth management division said on Monday it plans to hire about 100 client managers worldwide this year, as part of its efforts to win more super-rich customers, particularly in the Asia-Pacific region. The bank said it would invest 65 million euros ($73 million) in digital technology to develop new features such as customized Chief Investment Office news and portfolio health checks. Deutsche Bank’s wealth management arm has seen soft growth and several staff departures over the last couple of years. In October,…

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David Einhorn Greenlight Capital Greenlight Masters Money Steve Algert Top News 

Scooters instead of boardroom ‘kabuki’: how one fund manager picks winners

June 12, 2017 By Svea Herbst-Bayliss BOSTON (Reuters) – Mitch Golden scrutinizes hedge fund managers and their investment ideas in a variety of settings from the back of a motor scooter in Ho Chi Minh City to a park bench in New York’s Central Park. The lieutenant of billionaire investor David Einhorn says it gives him the sort of perspective he can’t get from sitting in an office. “This is a really hard job to do by just looking at the stuff that comes across your desk. You have to…

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accounts background Money news President Donald Trump Top News 

Ready, set, go: Retirement advice protections are here

June 8, 2017 By Mark Miller CHICAGO (Reuters) – Friday is the day, folks. Starting on June 9, all financial advisers providing guidance on retirement accounts must adhere to the new U.S. Department of Labor rule requiring that they act in your best interest rather than their own. The controversial rule survived a bruising seven-year battle against entrenched interests in the financial services industry, which were seeking to protect excess fees that cost retirement savers $17 billion a year – a full percentage point in annual returns, according to U.S….

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Deutsche Bank Lisa Lambert Money President Donald Trump Top News Volcker Rule 

Fed gives extension on complying with part of Volcker rule to three banks

June 7, 2017 WASHINGTON (Reuters) – The U.S. Federal Reserve on Wednesday gave extensions of up to five years to Deutsche Bank, SVB Financial Group, and UBS Group on complying with part of the Volcker Rule that deals with illiquid funds. The central bank said the three need more time to divest legacy illiquid funds in order to comply with the rule’s limits on their stakes in private equity and hedge funds. The rule, part of the 2010 Dodd-Frank Wall Street reform law, limits the types of trading banks can…

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Business cable Citadel Griffin CNBC Money Top News 

Citadel’s Griffin says U.S. rally not over, inflation a worry: CNBC

June 7, 2017 NEW YORK (Reuters) – Ken Griffin, founder and chief executive of hedge fund firm Citadel LLC, said on Wednesday that the run-up in the U.S. stock market was not over but that investors should be worried about rising inflation. “I think this business cycle has further to go. I think the stock market is going to go with that, but what’s worrisome is, the firepower that we have to address the next downturn is somewhat constrained,” Griffin told cable television network CNBC. Griffin, who is also the…

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accounts California George Gagliardi Money Top News Wall Street 

Why women are better investors: study

June 7, 2017 By Chris Taylor NEW YORK(Reuters) – When it comes to industries, Wall Street is about as male-dominated as they come. So many people just assume that men are better investors. And they would be wrong. According to new data from financial services giant Fidelity Investments, women are actually superior investors. In sifting through more than 8 million investment accounts, Fidelity discovered that women not only save more than men, 0.4 percent, their investments earn more annually, also 0.4 percent. “It is a double whammy,” says Alexandra Taussig,…

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